ARKF Elliott Wave technical analysis [Video]

ARKF (1D) Elliott Wave technical analysis

• Function: Major Trend.

• Mode: Motive.

• Structure: Impulse Wave.

• Position: Wave iii.

• Direction: Uptrend.

• Details:

  • The current rally is identified as part of the third wave (wave iii), typically associated with the strongest momentum.

  • This wave is expected to bring high trading volume and strong bullish movement.

  • New highs are likely during this phase.

  • Wave ii should be fully retraced.

• Invalidation Level: $47.22

ARKF (4H) Elliott Wave technical analysis

• Function: Major Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave [1] of iii.

• Direction: Uptrend.

• Details:

  • Wave ii concluded at $32.75 in a zigzag structure.

  • A minor bullish confirmation came when price breached subwave 4 of [C] within wave ii.

  • A brief consolidation may occur near $37.82 before prices move higher.

  • The recent high of $44.73 is likely to be surpassed during this rally.

  • The key level to monitor is $35.00.

• Invalidation Level: $32.75

Conclusion:

• ARKF is advancing in wave iii, typically the strongest and most dynamic phase in an impulse wave.

• Wave 3s often reflect significant upside potential and are known for high volume and rapid price increases.

• This presents a favorable scenario for bullish traders, especially ETF investors.

• Staying within Elliott Wave guidelines and monitoring the invalidation levels is essential for managing risk and protecting positions.

Technical analyst: Siinom.

ARKF Elliott Wave technical analysis [Video]