SUMMARY
Tron (TRX/USD) has built the left wall of the very tall rounded bottom formation. It has also completed the basin phase (blue box). Since symmetry is important in patterns, the most likely way to reach the level of the left wall's price height is by an extended 5th wave. The below chart shows that waves 1,2 and 3 are likely placed and 4 is being worked on. IF this count is correct, a phenomenal price move is probable.
This post is a bit different from the other day's as it is more bullish in projection. The blue subwaves of wave 3 are not complete and has wave 5 remaining. However, what is most compelling is the MACD which is sitting on the apex of its own symmetrical triangle and could have explosive outcomes. Now, once you seen an extended 5th way pasy the 1.618 length of wave 3; what do you do? That's right, you take profits and don't walk but run! Extended 5ths almost always result in a very deep correction.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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