I called the top on my previous YETI post on a 2.0 extension. Currently watching this count to initiate a wave 3 down. Overlayed EW theory and lines up nice with the IPO share unlocking. Look for one more roll upwards to finish sub-wave 5 of wave 2.
Potential for 50% drop on wave 3 alone. Purchasing mid/late May puts otm sometime next week if the wave 5 of 2...
OPTIONS PLAY: LONG PUTS or sell calls.
Entry: $108.97-$110.00
Target: $90.
Keep an eye on the sub wave 1-2 extension at $110 at 3.0. A blow past the green zone will have to reconsider the count. Puts 2 months out, cant go tits up.
This is a close-up of the larger wave 3, see my long term chart for this.
The EW count suggests we are at the top here and about to...
FX:GBPCAD The price is on the 61.8% fibo retracement, GBP strength index is lower than CAD strength index and RSI line is being maintained in oversold. The price could reach 61.8xa to complete a gartley harmonic pattern or continue dropping to 161.8 fibo extension of second wave and 78.6xa fibonacci retracement
EW count and subwave count shown. I suppose subdivision of wave 5 is also valid (not shown). We hit the 2.0 extension from wave 3 to 4. However, there is still significant confluence around the $35.50-$36 range, as shown by extension from 1 to 2, and an additional extension from IPO rally to lows.
Shorts were opened this morning around $34.25 and looking to add...
Today I want to suggest a day trade, maybe a swing to be performed this week. Some divergences have been occurred in the last days within EURUSD prize and delta, Last night confirmation is here. Also a major TF trend line helps us. So using the TWO LEGS theory the proposal is there. We will see.
A great deal of time has been spent between 2600-2800. Another rejection at resistance (2800+) keeps us in that range once again. Surely a familiar place where many positioning decisions have been made.
In Elliott wave terms the rejection, thankfully, completes wave B and provides valuable information about what to expect. The shape of wave B shows strength...
Market continues to outline the shape for long term expectations. The important area is at hand above 2800 with two remaining important peaks to surpass. January 2018 and September 2018 are the last hurdles for this momentous move since 12/26/18. At present we're in the area of .764 retracement from September's high to December's low. Surpassing .886 in the...
We have seen quite some bearish sentiment out there. With the last rally bitcoin came back up quite good, but I still think the bottom is not in.
Using the elliott waves, I would say that this is wave 4 and I expect it to go down again, though I am not sure if wave 4 is finished yet. Wave 3 is known to be the longest and there we have seen the big drop so this...
Expecting one more wave up to roughly around 14.5€ to finish first impulse wave up(or just B wave).
1. Target around 0.618 fib(14.4€) which is also 2.24 fib extension of 1-2 wave.
2. Target around 0.786 fib(15.7€) which is also 2.618 fib extension of 1-2 wave.
- Ethereum is consolidating around the 105 price area what means bearish potential is decreasing -» bulls can take over and we can expect a break out. However we can still go a bit lower before that happens what could create new buy opportunities.
- After Wave 3 we can in to a new Dessert crossing phase -» I'll target the 200 price area to close a couple...
Second scenario where A wave is just to be formed. Target of 5th wave of A is around 0.618 fib of whole 1-5 structure formed sinced 14.1.2019 (7€).
If so, target of C wave should be around 0.786 fib of whole structure.
First posible scenario with C wave extented to 1.618 fib of A-B.
Posible target of C is around 0.5 fib of whole 1-5 structure which is forming since 14.1.2019 (7€)
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