FrankCastles

FrankCastles Updated 

It's been a struggle to count this correction in abc's as it does not subdivide very well. I've noticed many Ellioticians forcing counts as well. While it is completely possible for the bottom to be in, this last leg does not count well with a subdivided C leg. Even if this count is wrong, it is wise to respect the resistance that will play around the 4483 area...

FrankCastles Updated 

see details on my spx chart for an explanation, as these two have similar fractals.. emphasis is on the resistance of 14600 and support of 12350 not the micro fractals

FrankCastles Updated 

It's been a struggle to count this correction in abc's as it does not subdivide very well. I've noticed many Ellioticians forcing counts as well. While it is completely possible for the bottom to be in, this last leg does not count well with a subdivided C leg. Even if this count is wrong, it is wise to respect the resistance that will play around the 4483 area...

FrankCastles Updated 

It's been a struggle to count this correction in abc's as it does not subdivide very well. I've noticed many Ellioticians forcing counts as well. While it is completely possible for the bottom to be in, this last leg does not count well with a subdivided C leg. Even if this count is wrong, it is wise to respect the resistance that will play around the 4483 area...

FrankCastles Updated 

market is currently divided between recent price action being a diagonal for a bullish count/ or a complex zigzag for a bearish count/ if bearish i anticipate it to subdivide as a wxy/ this is just an attempt to project based upon some arbitrary fib confluence levels of support and resistance

FrankCastles

Given all the bull moves have been corrective it's proper to assume the bottom is not yet in. Using C=A projection this is what I expect going into next week in regard to time as well. As elliot describes them, 4th waves are long in time/choppy/shallow and this recent price action supports it. The target for the bottom is around the .618 level

FrankCastles

This alternate count allows for only a-b of minor w4 to be complete and allows for c wave impulse to complete. This view makes more sense then the last, and wave 4 generally ends in the proximity of wave 4 of a lesser degree. This would raise the bottom for the wave 5 projection closer to 4147.

FrankCastles

Made a mistake in my prior chart assuming (4) was complete, 4453 can satisfy the requirements of (4) completion as we work on 5 of (5) of (C) of (IV) now, note - the extension can go as low as the high 4000s. This may take time to manifest and it's possible that (4) completes in a triangle/flat.

FrankCastles Updated 

Expecting a diagonal or impulse to complete v of 5 of (C) of (IV) in a massive bottom in all of the indices. Massive swing opportunity. Target is 4143-4147 SPX It would be ideal to get there through a diagonal variation.

FrankCastles

target is .618, from there, re-evaluate based on whether fractals are impulsive or corrective

FrankCastles

1.618 for iii, 1.00 for iv, 2.00 for v, then (1) completes into a-b-c for (2)

FrankCastles

while i have a short term bearish count on bitoin because of 3-wave structure, ethereum has a potential 5-wave leading diagonal formation, which would imply that both bitcoin and ethereum are about to form a final correction before the move up to break ATHs towards 60k entry in the green box would require a SL around 899 for invalidation

FrankCastles

holding a bearish bias short term because, 1) retracement from the entire 5-wave cycle is shallow 2) 15m/30m time frame bounce off recent lows has w3 as shortest wave 3) B or (X) failed at the .618 retracement from the top 4) 50% retracement from the entire 5-wave cycle sets up C to be exactly 100% extension of A 5) i'd love to buy some natgas lower :) from...

FrankCastles

tricky level from a conditional perspective, because this implies a w5 lower(bearish); however, since we've only seen 3-waves, it could be the bottom as well as an a-b-c, but because of the nature of it in its present state this becomes less probable because: take note that the 3/C wave extended beyond 1.618 of the first move down, the "dead cat bounce"...

FrankCastles

originally i had a bullish count, expecting this last retest of 40k to be wave 3, but unfortunately the correction in what i expected for wave 4 has now impeded the price point of wave 1, for that reason there is a higher probability that the pattern is instead an a-b-c pattern to the upside, which implies a new low in the near term under 30k if we breakdown and...

FrankCastles

Either ABC or 1-2-3-4 setup so far in gold; triangle starting to look broken, waiting for 5th wave to develop in green area where there is major support, targets will be re-adjusted as A wave develops if target is reached.

FrankCastles Updated 

looking for a direction from this triangle with a bias on the bull side for a completion of wave 2 triangles typically occur in wave 2 or wave 4; however you can choose not to trade until confirmation of a breakout or breakdown occurs, if we breakout to the upside expect bullish momentum for a wave 3 that could retest ATH

FrankCastles Updated 

ng has deeply corrected in a triple zigzag formation to the .618 retracement low, from there we notice a complete 5 wave impulsive cycle with the potential of a new cycle forming for potential wave 3/C, this implication is that we likely retest above 3.0+ in the near future