AdEx (ADX) Breakout Target: $2.11

SUMMARY

AdEx (ADX/USD) chart shows a clear cut; a decisive breakout of price in an upwards direction. This is quite exciting because the start of a trend reversal is at hand. The ABC also terminated in close proximity to the apex of the downward pointing triangle.

The micro-Elliott Waves is placed using native Fibonacci zones and the target zone is around $2.11. Subsequent a minor correction (38% to 50% retrace of prior impulse); the second round of impulse subwaves are expected to compose the wave 3 up and that's when the bigger strength of this uptrend should start appearing.

Perhaps you can discern the fractal potential? The blue box encases a wedge triangle that borke out to all time highs in an impulsive manner. The similarity thus far of the price action inside the white box shows that it matches the blue box fractal quite closely. Let's see how high the price action in the coming days can take AdEx.

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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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