ARKF (1D) Elliott Wave technical analysis
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Function: Major Trend.
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Mode: Motive.
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Structure: Impulse Wave.
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Position: Wave iii.
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Direction: Uptrend.
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Details:
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The current rally is identified as part of the third wave (wave iii), typically associated with the strongest momentum.
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This wave is expected to bring high trading volume and strong bullish movement.
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New highs are likely during this phase.
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Wave ii should be fully retraced.
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Invalidation Level: $47.22
ARKF (4H) Elliott Wave technical analysis
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Function: Major Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave [1] of iii.
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Direction: Uptrend.
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Details:
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Wave ii concluded at $32.75 in a zigzag structure.
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A minor bullish confirmation came when price breached subwave 4 of [C] within wave ii.
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A brief consolidation may occur near $37.82 before prices move higher.
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The recent high of $44.73 is likely to be surpassed during this rally.
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The key level to monitor is $35.00.
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Invalidation Level: $32.75
Conclusion:
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ARKF is advancing in wave iii, typically the strongest and most dynamic phase in an impulse wave.
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Wave 3s often reflect significant upside potential and are known for high volume and rapid price increases.
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This presents a favorable scenario for bullish traders, especially ETF investors.
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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]
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