- SNX is ready for an upcoming uptrend!
- On the daily / 3D chart we can spot a bullish inverse head and shoulders pattern that is very close to a breakout!
- The impulse Elliott wave (5-3-5-3-5) has been successfully completed and because of that I expect an ABC retracement of this bear trend to 0.618 FIB / end of the wave (4).
- You can set your profit target here, between 9.19 USDT to 8.02 USDT.
- We have a huge descending parallel channel and I think we can definitely break through this channel!
- I recommend only a short term trade here, because I think we need more time for this altcoin to gain strength again.
- https://www.tradingview.com/chart/SNXUSD/pOGpSmOT-Synthetix-SNX-Bullish-head-and-shoulders-Elliott-wave/
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Tolberti
Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.