The waves don't lie. Something tells me this could be a good long, if not how big is the risk?
The 3 advancing soldiers candlestick pattern on the monthly chart has to be one of the most bullish signals ever.(Despite the in between doji lol) Despite all of the doom and gloom out there by experts. I believe we are about to experience one of the greatest expansionary periods that mankind has ever seen. I do put this view down to my new redeveloped Elliott...
It would appear that we haven't seen these wave 3's yet. I think they about to show themselves. I don't think this is any place to call a top despite previous analysis.
There correction is not finished yet for Bitcoin . In Elliott Wave Land: Wave 1 is to be retraced at least 61.8%. This has not happened yet. I do see an A-B correction so far with B wave being an expanded wave. The move up on the B wave does not look impulsive! (Its choppy as hell!) USD is not about to crash. (Yet) I think Bitcoin will have its day but...
I corrected the chart for clarity of a smaller time frame. I hope it helps.
This is what I think is happening on US OIL right now. Wave C should begin a 5 wave decline for Wave 2 and retrace 62 - 78% of wave 1.
After a lengthy correction for the Aussie Dollar we should finally see the resumption of this falling bear move.
IMHO opinion we are seeing unprecedented manipulation by the fed which has lengthened this B wave considerably since Brexit and the Election. When this thing blows its top it will be nasty. You be the judge.
My analysis today brings me to the conclusion that we haven't seen anything yet and what lies ahead will be a nice fall in the pound coming very soon.
This should fall to not lower then the start of the first wave marked by the blue line then shoot up.
I believe this is a leading diagonal. Looks like a 1-2 1-2 pattern at the start of a wave 3 of 3. Get into it.
Looks like a leading diagonal forming in the right place. Give it some time to develop.
Inverse Head shoulders pattern has formed.
Waves seem to be lining up in a way that suggests a continuation pattern. Looks similar to the pattern found in the start of rally in the SPX500 from the 2009 low.
Regardless of OPEC's shoddyness OIL is going to rise regardless after this Wave 2 correction is done. Stop 53.56. Short now and you could be in for a nice profit for the upturn ahead.
I have spent the last one year studying Elliott Wave and Beyond and I am absolutely astonished at what you can learn when you apply yourself enough. The price action in the blue box is a critical component of the fractal markets. If you look hard enough you will see this pattern everywhere since the beginning of time. One more move up and what should follow...
If you can break an Elliott Wave rule counting these wave as indicated I invite you to comment below. The best indicator is price.