INTERPRETATION
Support being tested. If no Price-Cloud bear entry & breakthrough, a short bullish run to occur. followed by sideways trading (confirmed w/flag/pennant) & then the start of Elliott motive wave.
CAUTIONS/CONFIRMATIONS
- Support testing & Price-Cloud movement will determine momentum.
- Recent T&K bear cross & Price-T&K both showing selling pressure
Support being tested. If no Price-Cloud bear entry & breakthrough, a short bullish run to occur. followed by sideways trading (confirmed w/flag/pennant) & then the start of Elliott motive wave.
CAUTIONS/CONFIRMATIONS
- Support testing & Price-Cloud movement will determine momentum.
- Recent T&K bear cross & Price-T&K both showing selling pressure
Trade active:
INTERPRETATION
Support challenged & likely resisted which resulted in bullish trend (not shown - refer to 4H time interval). Modified Elliott waves for 1hr time interval. If correct, then expect a bull run starting at the beginning of Wave 1. Motive wave estimated to be 80% increase (extrapolated from last motive wave).
CAUTIONS/CONFIRMATIONS
- Price-Cloud bull entry & breakout
- T&K bull cross
POSITION
Entry @ 61000
Support challenged & likely resisted which resulted in bullish trend (not shown - refer to 4H time interval). Modified Elliott waves for 1hr time interval. If correct, then expect a bull run starting at the beginning of Wave 1. Motive wave estimated to be 80% increase (extrapolated from last motive wave).
CAUTIONS/CONFIRMATIONS
- Price-Cloud bull entry & breakout
- T&K bull cross
POSITION
Entry @ 61000
Comment:
Comment:
Comment:
INTERPRETATION
The price has crossed under the bear/red cloud on the 1-Hour graph. This motion along w/with the current states of the Tenkan & Kinjun signal a recommendation to sell & exit current positions. HOWEVER, depending on personal risk analysis, it would not be unreasonable to continue holding based on prospective expected movement (see below). Note that using extrapolated data and prospective analysis is a high risk action.
SELL SIGNALS
-Price-Cloud bear entry & breakout
-T&K bear cross
-Price-T&K bear cross
CAUTIONS/CONFIRMATIONS
-The primary argument for holding would be the current pending status of the price action in cloud (entry but awaiting return or bear outbreak) & the converging direction of the T&K lines located within the 4-Hour interval chart.
-Selling volume has decreased with a consequent increase in buying volume.
The price has crossed under the bear/red cloud on the 1-Hour graph. This motion along w/with the current states of the Tenkan & Kinjun signal a recommendation to sell & exit current positions. HOWEVER, depending on personal risk analysis, it would not be unreasonable to continue holding based on prospective expected movement (see below). Note that using extrapolated data and prospective analysis is a high risk action.
SELL SIGNALS
-Price-Cloud bear entry & breakout
-T&K bear cross
-Price-T&K bear cross
CAUTIONS/CONFIRMATIONS
-The primary argument for holding would be the current pending status of the price action in cloud (entry but awaiting return or bear outbreak) & the converging direction of the T&K lines located within the 4-Hour interval chart.
-Selling volume has decreased with a consequent increase in buying volume.
Comment:
INTERPRETATION
There is a likely possibility that the prediction of Corrective Wave termination is incorrect. The new graphical data shows us that the the Corrective Wave prediction might have been placed prematurely. This oversight likely occurred due to careless integration into existing data with a lack of consideration for potential Corrective Wave movement.
With the new information, the Corrective phase can be readily adjusted without compromising the original idea. If this is the case, then we can expect an additional Corrective Wave before restarting the wave series. Please reference original graph to compare and contrast.
There is a likely possibility that the prediction of Corrective Wave termination is incorrect. The new graphical data shows us that the the Corrective Wave prediction might have been placed prematurely. This oversight likely occurred due to careless integration into existing data with a lack of consideration for potential Corrective Wave movement.
With the new information, the Corrective phase can be readily adjusted without compromising the original idea. If this is the case, then we can expect an additional Corrective Wave before restarting the wave series. Please reference original graph to compare and contrast.
INTERPRETATION
Final check to determine which way price will head. If the price manages to breakout downward through cloud, recommendation is to exit all positions as bearish trend like to continue.
SELL SIGNALS
-Price-T&K bear cross
-T&K bear cross
-Price-Cloud bear entry
BUY/HOLD SIGNALS
-Upcoming green cloud (buying pressure increase)
CAUTIONS/CONFIRMATIONS
-Price-Cloud breakout downward will be considered the strongest & final sell signal
-Considering volume in this circumstance provides some confidence in delaying exit & continue monitoring w/current position
-4-Hour Interval Graph shows price testing support of Green cloud