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RE: Crypto Academy Week 14- Homework Post for Professor @fendit on Elliot Wave Theory (EWT)
Thank you for being part of my lecture and completing the task!
My comments:
Nice work on your explanations and analysis of this theory!
When it comes to the chart, I'm not really convinced by wave 3, it just doesn't seem to me that the pattern has been fully developed there!
Aside from that, it was really good!
Overall score:
6/10
There was little price consolidation before wave 3. During this consolidation, price neither broke the high of wave 1 nor the lows of wave 2. There was consolidation within the range and EWT pattern wasnt violated because price didn't reach the low of wave 2. Market consolidate sometimes before big moves like wave 3.
Meanwhile, thank you for your response. I will find a better example next time.