Trade Idea for SHIBUSDT

٨ ديسمبر ٢٠٢١

5 wave to the upside is clearly finished, and followed by corrective gradual drop. In the the corrective waves, the first recognizable was Zig Zag pattern followed by a clear Flat pattern which gives me an idea that the correction might be developing in double pattern (WXY). So the last wave(Y) is still in progress. In early stage, I predicted that it would develop in Zig Zag pattern because of the sharp drop that could be counted as 5 wave. Then It is obvious that after B wave in Zig Zag another drop is potential reversal point. Drawn fibonacci levels are fibonacci retracement of an ended 5 wave.