USD / JPY is now in the channel line
What is the next price direction, Up or down?
Extension Pattern : By definition an extension occurs in an impulsive wave, where waves 1, 3 or 5 can be extended, being much longer than the other waves. It is quite common that one of these waves will extend, which is normally the third wave. The two other waves then tend to equal each other. In our pattern definitions we call it an Extension1 if the first...
Hello guys, The next target is wave 3, follow me to be updated If this analysis can be useful for you.
It appears that SPY has broken out of the IVth wave triangle and is headed to new all time highs in cycle wave V, after which comes a major crash. As you can see, the triangle is subdivided into 5 waves, A-E, and if this representation is correct, the beginings of the Vth wave bull phase is underway. This is confirmed by the wave structure in minor waves 1 & 3....
Verge/Bitcoin, 240 minute bars, 041118, 10:11 p.m., EST. Fast post: Hello traders, it appears that Verge is on the verge of completing a Wave (4) of lower degree pullback. This is not a particularly high confidence wave count, it is a decent pattern trace If true, there would then be two more rallies remaining. We would see a Wave (5) of bigger Wave 3, then a...
It seems the impulse wave is not complete yet. Price is of course in the last stages about to call for a bearish correction. I want to be patient on this and wait till price makes a substantial move downside (to confirm and then I can rel-label and wait for a retracement to sell) or else, I will hold on for more rally. Let's see how price will play this out. The...