This $ETH structure is textbook. Wave 1 (or A) down carved a clean 5-wave impulse — no ambiguity, just classic bearish structure. The wxy B wave (or wave 2) retraced perfectly, exactly what you want to see in a corrective phase.
Now we're in the C wave (or wave 3 down if you're counting impulsively), and it's shaping up beautifully. Wave 3 hit precisely 1.618x the length of wave 1 — that Fibonacci extension nailed it. When the ratios line up this clean, it tells you the structure is valid and the market is following script.
This is the kind of setup that builds conviction. The waves are behaving, the extensions are textbook, and the count is clear. If you're trading this, you know your levels and your invalidation. Stay disciplined, trust the structure, and let it play out.
Now we're in the C wave (or wave 3 down if you're counting impulsively), and it's shaping up beautifully. Wave 3 hit precisely 1.618x the length of wave 1 — that Fibonacci extension nailed it. When the ratios line up this clean, it tells you the structure is valid and the market is following script.
This is the kind of setup that builds conviction. The waves are behaving, the extensions are textbook, and the count is clear. If you're trading this, you know your levels and your invalidation. Stay disciplined, trust the structure, and let it play out.