Here I took an Elliott wave pattern to set the next levels of this downtrend of USDCHF. Wherein expected wave 5 ends at/nearby 0.9061 . Hence, the day traders can short USD/CHF below the resistance line for the following targets: 0.9084 - 0.9076 - 0.9060 .
Following up with the NYSE:UBER stock movement, we might see a drop into the $36 or lower as a wave 2 correction (Zigzag Pattern). If this is the case it would be good opportunity to get in from there.
It looks like price has reached it's current fib extension.
It could continue to travel lower, however, I believe we may see a pullback and then a short.
I anticipate two scenarios, one for a ~700 pip sell, the other for a little shorter, to the 38.2 fib level before we see a move back up.
Following up with Uber stock movement, it's clear that we are near/at the end of fifth wave ( Greened ) and I expect a correction to the 35-36 zone before going higher.
That is confirmed by the strong bearish divergence signal as you can see in the chart b/w the price and the RSI indicator.
Technical Analysis using Elliot Wave Principle
If the count is correct, the wave (2) must have completed, then I expect more upside in wave (3). Wave (2) is a simple zigzag correction of A-B-C.
There are 3 entry options with different risk and reward ratio. Use the entry options based on your own personal risk preference. Stop loss at bottom of wave (2)
As you know I have been bearish at crypto market for a while. I do believe that we will go lower to see new ATM.
So I m bearish at short - mid term and long at long term.
This chart is my OPTION -1 for BTC MARKET
I have one more analysis that targets around 5.5K - 7 K. I m going to post it as NUMBER 2
Ever since TOPGLOV recorded new high at RM29.30, gloves counter has experienced a big selloff which rebounded back and created a lower high.
Thus, I believe it has created a wave correction and heading to RM20 before flying to another ALL TIME HIGH. :)
As you all can see, AmInvestment Bank has downgraded gloves sector. The negative article in Bloomberg which...
ZECUSD formed a beautiful Elliot wave from July 5 - Aug 6. The correction that has followed is fitting nicely into Fibonacci retracement lines and it’s easy to see that we are on the C wave of an ABC correction. This has almost hit the 61.8% retracement ($84.39). I fully expect it to turn the corner there and enter another 5 waves up. As always, wait for...
We have been in "time correction" for some time.
We are in wave "C" , that the Ultimate goal is shown in image.(8240-8280)
The canal Roof has also shown good Resistance to price increases.
I think we can only one "Divergence"in the near future to start the big drop.
Range of 8280 to 8240 will be our target for the end of wave "C".