Wave 4 is a double zig zag (abc x abc). So now we have half the world short the SP. That could squeeze the SP higher to the fib target at 2138 with a huge momentum. At 2138 everything will look shiny and bright. Many will say...problems over clear sky ahead.... but will be caught long while the market tank :) Fear not @BLawerenceM Music at work: www.youtube.com
For ease of viewing I am going to include the other possible valid count below. However, currently I am favoring the above count. The reasons why will be listed below. Note that both of these counts are overwhelmingly bearish on a higher timeframe. Any bullishness is going to be quickly and violently stomped out. Being long at this point is very risky, and being...
Great place to start re-opening shorts with a tight stop-loss. Counts on the lower time-frames support the ending of Wave 5 of 5 of c of 2 of (3) There's also a big bearish momentum divergence on the AO at this time-frame and a 62% retracement of wave 1 of (3). Since this appears to be a Wave 3 of (3) on the horizon the next drop will be extremely strong. Bulls...
Update: EW-Target: 1179 OR 1159: Wave 5 ORANGE can continue after Retracement !
EW_Target 1179: Wave 5 ORANGE starts definitive! Wave 4 ORANGE definitive done: - Wave 4 is now completed as abc GREEN ! - Wave 4 has RETESTED the BREAK-LINE 3 TIMES. But All 3 Times was REJECTED ! - So Wave 4 ORANGE is DEFINITIVE DONE now ! - SO FREE WAY for STARTING of Wave 5 ORANGE ! TARGET 1179 ! AND: The MIDDLE-Line of BB-Band is now the RESISTANCE !!!
Update: EW-Target: Wave 5 NOW 1179, Wave 3 done as PREDICTED!: EW-Target: - Wave 5 ORANGE now on wok Target 1179 ! - Wave 3 ORANGE done exactly as PREDICTED !!! see: - Correction: Wave 4 ORANGE done now with more as 61,8% retracement, from 161,8% to 100% (more as instead only 38,2% from 161,8% to 123.6%) For this REASON, so the Wave 5 ORANGE is...
EW-Target: - Wave 5 ORANGE starts now in this Moment ! Target 1184 ! - Wave 3 ORANGE done exactly as PREDICTED !!! see: - Correction: Wave 4 ORANGE done now with 61,8% retracement, from 161,8% to 100% (instead only 38,2% from 161,8% to 123.6%)
- Next Target for today:1192, Wave 3 Orange in Action! - Then a consolidation (Wave 4 ORANGE) - Then Wave 5 ORANGE target 1184!
Looks like bitcoin is about to get another big wave down, this should bring us under $200 within the coming days. On this chart, you can see that we have a pretty nice bearish Gartley pattern (www.investopedia.com). Along with 2 Elliott Wave Ending Diagonals, one is Wave C of a flat (red lines) which I believe to be either part of Wave E or Wave 2, the other is...
The best advice I could ever give anyone about the market is to "Want What the Market Wants." Do not want what you want , that will produce anxiety and doubt. Align your personal beliefs with that of the market and then trading will flow like a calm river of success. So that raises the question: What does the market want? On a weekly timeframe, the market has...
I see a bottoming process here for crude. For the first time since the june 2014 decline began the ma's are flattening and even the 50 ma is pointing up now (50ma not shown) The bollinger band is narrowing in and todays price actually stopped at the lower daily bollinger band. I'd say price has set in the low on the 13th of jan and has completed it's first wave...
This is an update of a chart I made 10 days ago (check linked ideas). I've added some inner waves and some corrections. Yesterday's drop to $276 could have ended the (5) wave of C. You can zoom a bit to see the decomposition between (4) and potential (5). Long-term support, lowest-point after burst ($275), first level of fibonacci retracement are all pointing to...
DISCLAIMER: My ideas change all the time and very suddenly, sometimes majorly sometimes very slightly, (which is why I don't normally publish charts) so take this chart with a grain of salt and check the comments for updates. I am trying to avoid becoming too attached to this idea because there is a good chance it is wrong. Anyway... LONGER-TERM VIEW: It appears...
I've became interested in Elliott Waves lately and I tried many counts. Here is my try for a large time scaled EW and finding the end of 2014 bear market. Feel free to criticize it, even more welcomed if you got some experience in EW. A pretty obvious pattern is the corrective triangle, correcting the Dec. 2013 burst. In classical technical analysis I used to...
Everything worked as I had predicted (see the related idea). At present, there should be a correction after the failed breakout of the main resistance line (green). If you zoom, you will see an evening star forming, so there is a great possibility of short-term downward movement. Moreover, the bat like this is a signal of downward reversal:...
As can be seen in the chart the red marker was spot on. I do not paint these things just for fun, but when they hit the mark like this, it is extremely fascinating. :)
Bearish patterns following EWs. Patterns predicting wave 3 ending, wave 4 ret. and ending wave 5
As you can see with the attached links, that one went well. Why the update? Because I do not do the market, we all do, and with all due respect, I can see one possibility that is noteworthy. But to be sure, weekly I am still strong short on this pair, at 1,3550 I have to reconsider, at 1,40 well, then it is too late anyway. So besides all the short load I carry...