I have classified the current downturn as a Primary wave 2. This should be an ABC corrective wave. These waves last half the length of time that Primary wave 1 did. All my acquired data dates back to 1932 where I believe our current market Grand Supercycle run began.
Based on primary wave 1 lasting 86 days, wave 2 could last around 43 trading days from May 1,...
Bitcoin has completed a W-X-Y correction - casting a pitchfork of the entire bear market. Price has broken out 2 standard deviations above the pitchfork confirming the end of the bear market. Look for a retest of the 2SD breakout line and stagger buys within the rectangle.
***Not investment advice***
At the time of writing this (1003 CST, May 10th 2019), AUDJPY has been down for EIGHT CONSECUTIVE DAYS. Let me repeat that a little differently: ADUJPY has had 8 consecutive days where the close was below the open on the daily candlestick. Do you know when that happened last?
September 12th – September 21st 2001
In other words, a long friggin’ time. It’s the...
Grab your partner round and round. One goes up and the other goes down.
Good day ladies and gents. Looking at recent price movements for BAT, it's an important reminder of the weight that BTC and ETH hold on the market. Take a look at ETH starting on Dec 18. After 11 days of sideways movements, it finally broke through a line of resistance and went on an 8 day...
The March ’08 advance is labeled as a corrective upswing, a Zig-Zag pattern. Using Fib-price ratio model for this pattern combined with internal price measurements, we have three fib-price ratios converging, heightening the probability that the five-wave sequence (i)-(v) has ended within the last C-wave (circle) of the corrective Zig-Zag pattern indicating the...
I have been looking for one more leg down per my previous ideas.
Price is currently at an important zone, to determine just how deep the next dip might be.
I see two secanrios:
LEFT side: a WXY correction heading back up towards 4500.
RIGHT side: an ABC correction already DONE, and preparing for next impulse down.
The next leg in either direction will give us...
I think UKOIL will descend the next months. Here is why:
- It just hit the Global Gann fan and went down right after.
- It just completed the head & shoulders potential. I've moved the starting point to the right shoulder.
- It just made the 1.618 level from the (1) leg (Elliot Wave theory).
- It turn down after hitting the 0.618 fibonacci level from the Gann...
Nasdaq has gone so much up lately and I think it will turn downwards next three years.
Target 1: 3500 (52%)
Target 2: 1760 (76%)
When: April 2021 and May 2022 / January 2024
Stop loss: Above the resistance arcs.
- 2 different Gann Squares says it made All time high last week.
- Gann line from the Gann Square is saying the same.
- Gann Fan line also...
... then what?
The decline from the all time high is a 3 wave structure, therefore I see 3 possible wave counts:
1 - My main count. We are going to correct at least 105% of the decline, and we'll do it with a 3 wave structure, so that then a crash of circa 48% unfolds to complete the expanded flat pattern and take the 2016 low. Then, we'll rise for circa 21...