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My colored pencil drawing. (zoom in to see details)
The Matterhorn, Switzerland’s iconic pyramid-shaped peak, towers at 4,478 meters, captivating climbers and adventurers with its rugged beauty. Valais black-nosed sheep, with their distinctive dark faces and fluffy wool, graze in the lower alpine meadows of Zermatt. These adorable, hardy creatures dot the dramatic landscape, embodying the region’s rustic charm. 🐑🏔️🇨🇭
5️⃣Then comes the fifth wave, which is the end of the bullish trend. Traders should consider closing their trades during this wave.
#education
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🔥Elliott's Waves Theory🔥
🎢 All price movements consist of five waves of growth and three waves of decline.
➡️The structure of any movement has the form 3⬆️/ 2⬇️.The trend impulse has a five-wave structure consisting of three waves of growth and two waves of decline.
#elliot
4️⃣Then goes the fourth corrective wave. It has the same properties as the 2nd wave, i.e., it cannot go lower than the beginning of the third wave and is usually 50% of the third wave.
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The advance off the Apr lows looks more corrective than it does impulsive (to borrow from the lexicon of EW traders) $BTC
BTW, I've never used EW to trade and would never consider doing so. If it works for you, all the more power to you. Please do not reX this with wave counts
Scott Bessent is literally one of the best macro investors in the world.
He helped break the pound with Soros and Druckenmiller.
And people are acting like the guy doesn’t know what he is doing.
Laughable.