Given the perfect low on the Wave-4 this is a text book Elliott trade. Clear structure. Excellent risk reward. Very clear invalidation points. If the entry is filled at the 50% you've got a 7.5-to-1 risk reward. I like the stop just below the 78.6 around $272. But if that's too much risk for you... you can place a stop just below the 61.8 outside of the lower channel boundary.
The perfect entry would be between the 50 and 61.8 with a kiss of the channel. But keep in mind the tendency for algos to front run the 50%. If you're an ETH bull, as I am... this is your boarding gate. Don't miss the flight.
The perfect entry would be between the 50 and 61.8 with a kiss of the channel. But keep in mind the tendency for algos to front run the 50%. If you're an ETH bull, as I am... this is your boarding gate. Don't miss the flight.
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