Hi guys My only concern with ETH at the moment is that the drop in price from the recent highs could count as a 5 wave down. If correct then that could have been the minor count of an A wave, meaning that the B wave is underway which could end soon. If this proves to be correct then the C wave will cause ETH to drop lower than the A wave before ETH actually gets...
ETH is currently undergoing wave 4 (correction) that was expected in my previous post. Following this correction, there is a possibility for a 3rd actionary wave (impulse sub-wave 5), which might encounter heavy resistance from the long-term downtrend. The correction is likely complete above the 910 support level (marked by the olive line, 0.5 fib), which is...
My Cycle wave 3 top appears to have been originally off by 7 trading days. This does not appear to impact the pending drop. The estimated upcoming bottom for COP is around 56.20 on March 5, 2018.
If BTC is in the latter stages of a correction then the chart shows where that may happen. I do not label my waves like the "pro's" but only in a way that make sense to me while adhering to the same EW principles. It would be interesting to see if this scenario can play out but a strong move below that zone and BTC could be in serious trouble (if not already).
The price of the asset has been trading in a bullish trend since December 2017 creating new higher highs. Last week the suport line that has maintained the price since then has been broken with a bearish movement. So, right now the price is trading a correction movement that I expected to reach the interest red zone (S&R). To then creat a new lower level. This...
I'm looking for a short position on UsdCad. We have a retracement and a symmetrical triangle as well completed on an abcde correction wave !!!
This is how i evisioned where the price of litecoin should take its steps towards the completion of the correction.
This is how i envision the ABC Ether correction. ABC (5,3,5).
The CORRECTIVE WAVES are showing a combination of DOUBLE THREES and a possible combination of TRIPLE THREES.
Double top is in, and H&S is nearing completion. Possible start of a longer term downtrend, but hopefully will end with the ABC correction and move back into the original channel. Buy signal after a double bottom or strong bounce at the end of the C leg of the correction at 12.8k. If support fails, then we could be looking at a deeper correction to the 9.6k to 10k range.
BTCUSDT is forming another bearish divergence with price/RSI as it approaches 7k. Historically, these divergences have led to corrections; if this divergence completely forms, it could start another one here. If it drops before 7k and breaks below this wave's uptrend, I'm thinking it will most likely form another Elliott 3-3-5 flat with extended wave C as it's...
Shorterm bullish trend is broken. 4th wave is in progress, still is soon take it as a fact, but a triangle is what has to be expected. For now we can see first 2 waves of a correccion A and B. This third waves will defind what kind of correction we are seeing. Wave C can develop in 5 waves, what mean it is part of an ABC correction and would be the las waves of...
BTC has now reached the 2.618 extension of wave 1, and is showing bearish RSI divergence on the 4 hour. These two factors make Wyckoff distribution cycle which is currently setting up more probable. If the lows of 5450 break, Bitcoin will likely continue downwards toward 5000, for a .384 retracement retrace of Wave iii. This is a swing trade, which is more or...
FX:AUDUSD Awaiting Correctional Wave ABC Potential correction on Elliott Wave Rules for Elliot Wave Wave 3 can never be the shortest impulse wave Wave 2 can never go beyond the start of Wave 1 Wave 4 can never cross in the same price area as Wave 1 Support Level: 0.7750 Stop Loss: 0.7740 Target: 0.7928 Risk to Reward: 1:5
We have seen the EURUSD Rally over the last few weeks Even though there is a strong Bullish trend I feel we are currently seeing the correction down to the 1.618 level which is also at a Daily Key Level
A classic textbook example of a flag continuation has formed and usually this signals a further downward move in bearish trend. The flag pole is calculated from the last resistance line it broke to the lowest low of the flag. This is shown in yellow, and it hits exactly at the 0.618 fib of the long term trend. Keep in mind that this is only wave I of the long...