Guideline of Depth of Correction
The guideline of the depth of corrective waves according to Elliott Wave principle says that when the market goes into a correction, it often will correct to the territory of the previous Wave 4 of lesser degree. This is often a good place for the market to find support (or resistance) before the trend moves on.
February 5, 2020 chart
My introduction post on February 5, 2020, highlights the area of the previous Wave 4 support range .17 to .19. My personal goal for entry point was set at .20 or .21. Today, BAT on a 4-hour chart is showing green on the Money Flow Indicator. This could be a completion of the ABC correction and time to watch for a reversal of the trend.
Basic Attention Token 4Hour Chart Coinbase
I believe BAT has great potential for the upside and many trading opportunities to increase your BAT holdings. So, I'll be sharing more posts on BAT and how I use indicators for entry and exit price.
If you would like to learn more about Elliott Wave Theory visit Elliott Wave International
You can create a free account and use free resources to learn more about Elliott Wave Principles.
Happy trading - 3rd Dog
I’m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature and are therefore are unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
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