MATICUSDT | Wave Projection | 4-Wave Correction - Subwave B?
Price action and chart pattern trading setup
TFD - Elliott wave analysis
> A possible 4-wave correction descending triangle with subwave B breakout expected to retraced 0.618 - 0.786 of subwave A scenario.
> Entry @ breakout triangle after downtrend subwave c completely retraced
> Target @ 5-wave upper resistance zone 1.618 wave 4 extension and 2.618 wave 1 extension + 30-40%
> Risk reward ratio could be 3:1
Indicator: RSI bullish momentum
Always trade with affordable risk and respect your stoploss
TFD - Elliott wave analysis
> A possible 4-wave correction descending triangle with subwave B breakout expected to retraced 0.618 - 0.786 of subwave A scenario.
> Entry @ breakout triangle after downtrend subwave c completely retraced
> Target @ 5-wave upper resistance zone 1.618 wave 4 extension and 2.618 wave 1 extension + 30-40%
> Risk reward ratio could be 3:1
Indicator: RSI bullish momentum
Always trade with affordable risk and respect your stoploss
Operación cerrada: objetivo alcanzado:
Take profit point as expected now - retesting its triangle neckline support at 0.618 retracement and MA200 key support - possible a long entry opportunity for rebound