ETPUSD Unraveling A New Rise; 0.8800 Minimum Target in View

Intermediate

Hello traders,

Today’s article is for ETPUSD also known as Metaverse ETP. On ETPUSD we can see a nice bullish recovery in play, up from 0.3003 level, which can be making a three-legged, or five-legged move. We already see a five-wave completed rally within wave (A)/(1), which was later then followed by a temporary pullback as wave (B)/(2), that found a base at the 0.5013 level. Current rally which is now in play, can be start of a final wave (C) or (3) that can take price towards the 0.8800 level (in case we are tracking a wave (C)), or towards the 1.103 second Fibonacci projection zone of 161.8, if price is indeed unfolding a bigger, five-wave cycle, up from the lows. That said, be also aware of temporary pullbacks, which may join the uptrend. As we know nothing moves in straight lines.

ETPUSD, 4h

4h etpusd mar 13 2019

Elliot Wave Technical Analyst

Gregor Horvat is based in Slovenia and has been in the Forex market since 2003. He has been working for Capital Forex Group and TheLFB.com.

He is the owner of www.ew-forecast.com, which prov...continued

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