VECHAIN - Important Update!From looking at Vechain on a log chart, we can see that we're still within the ABC correction.
in every ABC correction, C wave is almost always 5 waves, which follows the impulsive schematic.
We are now in wave 5 and we're expecting to see 5 clear waves down.
An important thing to note is that in Elliott waves , wave 3 can never be the shortest. At the moment, wave 1 is longer than wave 3. Therefore it is highly likely that wave 5 will be shorter than wave 3. This gives us a clear zone to look at for LONG orders.
Trade Idea:
- For experienced traders, count 5 waves down for wave 5 and enter on the breakout of the 5th wave
- For less experienced traders, watch for 5 waves down and draw a descending trendline and enter on break of trendline
- Targets: 0.1, 0.23, HODL the rest and manually close
Goodluck and as always, trade safe!
