Hello, fellow traders. In this technical blog, we’ll review our Elliott Wave charts for Ethereum (ETHUSD), published in the members’ area of our website.
ETHUSD developed incomplete bearish sequences from the September 21 peak. Our analysis showed the downside cycle was still in progress. The target was around the 2022 area. Let’s review the Elliott Wave structure and see how the market followed our outlook.
Our analysis expected wave ((x)) to form a corrective recovery against the short-term cycle from the 2526 peak. The structure was unfolding as a Double Three.
We expected wave (x) of ((x)) to complete around the 2226–2208 area. After that, another leg higher in wave (y) of ((x)) was likely. The upside target was the 2363–2452 sellers’ zone, within a 7-swing structure.
We identified both areas using the same Elliott Wave strategy. The setup was based on measuring equal legs between waves (w) and (x) with the Fibonacci Extension tool.
By combining Elliott Wave analysis, cycle analysis, and multiple time frames, we were able to anticipate the bearish continuation and identify the downside target zone in advance.
You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page
ETHUSD completed double three pattern right at the mentioned equal legs area (2363–2452), and we got a decline as expected. Once again, incomplete bearish sequences accurately projected the market’s path.
This is exactly the type of analysis we teach in our Live Analysis / Trading Sessions, where members learn how to identify incomplete sequences, understand their significance, and use them to anticipate the market’s next move.
You can check most recent charts in the membership area of the site. Keep in mind not every chart is trading recommendation. The best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.
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