Detail @ the Chart..P/S: Unlike conventional, To have consistent elliot wave counts,there is ONLY 3 subwave ( abc ) counts on ANY Impulsive wave (1,3,5) VS coventional counts which is 5 subwave (1,2,3,4,5)
I'm publishing EURGBP 4H Chart even if you can find my view in a daily log scale in my published ideas, for a closer view and a better understanding of the structure and the targets.
Since 06.10.2016 the pair has started the correction...
USOIL corrective structure A-B-C (circle) since 09.06.2016 is close to ending, after a last drop, when C-wave (circle) completes as an expanding ending diagonal.
A-B-C (circle) possible expanding flat corrective structure pattern.
1- Wave-A (circle) developed into a ZigZag pattern, internal 5-3-5 structure ending at 39.23
2 - Wave-B (circle) developed...
Long time since the last post. It's christmass so I have been spending some time with my family.
Here's something I have analyzed for the last 2 weeks.
Daily Expanding Diagonal, weakness of the downtrend.
So I expect a brakeout of the structure, if it goes down to bottom trendline I will manage a trade from there and then hold it after the brakeout.
Background - Bitcoin has limited price history and earlier moves are so volatile and spiky that it makes it very hard to do usual technical analysis. However from my historical charts you will see that I noted Nov 2013 as major wave 3 and was expecting wave 5 to develop from Jan 2015.
Yet the price progression and the actual development of pattern call that into...
NOTE: Please keep in mind that just because I have drawn particular line or suggested a target does not mean I will cause the price to follow that path. I say this because many appear to have religious like zeal for BTCUSD to move forever upwards without any retracement where suggesting anything else is a gross sin.
Also I am ignoring all the positive and...
On the daily TF, we are in the midst of the fifth and final wave of an expanding ending diagonal, counted as C of an ABC zig-zag correction. The monster buying opportunity will be at the completion of this C wave, however, we may be presented with a short term long opportunity with a R/R of 8.5. The current count is wave-b-of-(c) in a potential flat correction...