Dogecoin - intermediate Triangle of primary trand continuation
In Elliot wave principle analysis - Triangle is a figure of a trend continuation. It always occurs in a position prior to the final actionary wave, in the pattern of one larger degree.
I.e as a wave four in an impulse, wave B in an A-B-C, or the final wave X in a double or triple Zigzag. A triangle may also occur as the final actionary pattern in a corrective combination, although even then it usually precedes the final actionary wave in the pattern of one larger degree than the corrective combination.
The triangle is part of corrective wave and the exit target of the reactionary wave is already worked out. The probability than we go down is higher than we go up, you can find it in a previous postings.
You can see an example how worked out the triangle exit on Silver 1974 year - fourth wave, as well.
As for bottom of this triangle, you can see it on this chart: -0.00769 USD.
Good luck in your trading and have a massive profit !
I.e as a wave four in an impulse, wave B in an A-B-C, or the final wave X in a double or triple Zigzag. A triangle may also occur as the final actionary pattern in a corrective combination, although even then it usually precedes the final actionary wave in the pattern of one larger degree than the corrective combination.
The triangle is part of corrective wave and the exit target of the reactionary wave is already worked out. The probability than we go down is higher than we go up, you can find it in a previous postings.
You can see an example how worked out the triangle exit on Silver 1974 year - fourth wave, as well.
As for bottom of this triangle, you can see it on this chart: -0.00769 USD.
Good luck in your trading and have a massive profit !
