Wave A down looks mature and we might see some upside now as wave B. The surprise would be that we had a very shallow wave X and that we see further downside.
The primary scenario (in green) assumes more upside in a corrective pattern to finish wave (X). The secondary scenario (in red) assumes that wave (X) is in that we further go down in an ABC pattern to finish wave (Y).
The (first part of the) correction in the NASDAQ might be finished. We expect more upside but we have to be careful. The rally to the upside can fail and result in another corrective leg down.
Wave A down looks mature and we might see some upside now as wave B. The surprise would be that we had a very shallow wave X and that we see further downside.
The primary scenario (in green) assumes more upside in a corrective pattern to finish wave X. The secondary scenario (in red) assumes that we will get an ABC correction and therefore we need another leg down (wave ((v))) to finish wave A.
The primary scenario (in green) assumes more upside in a corrective pattern to finish wave (X). The secondary scenario (in red) assumes that wave (X) is in that we further go down in an ABC pattern to finish wave (Y).
Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Ethereum 💪 If we are looking at the macro view on the monthly timeframe you can see that Ethereum perfectly retested the 0.768 fibonacci level in confluence with the previous cycle high so everything looks like we are...
In the higher timeframe, it looks like we are doing a wave (4) down which should be followed by a wave (5) up. However, there is a potential trap in which we might see way more downside as the wave II correction can still be ongoing.
In the higher timeframe, investors should wait for the pullback to buy again.
In the higher timeframe, investors should wait for the next pullback to buy again. We are approaching the first relevant areas.
In the higher timeframe, the higher level wave ((1)) is probably finished. There is also an alternative scenario where we can make one more high to finish wave ((1)). This wave ((1)) should be followed by a wave ((2)) to the downside which is an interesting buying opportunity for investors.
Establish Fibonacci price clusters identifying important resistance and support, Same Garley pattern. Emphasize important support-resistance points. I set it on the 3 minute chart, it should be able to run very fast, Here is a clip of my analysis to determine the key areas for my entry.
The (first part of the) correction in the NASDAQ might be finished. We expect more upside but we have to be careful. The rally to the upside can fail and result in another corrective leg down.
The surprise played out and the 3 waves down unfolded in 5 waves which means we will get an ABC correction instead of a WXY. However, wave A down looks mature and we might see some upside now as wave B.
The primary scenario (in green) assumes more upside in a corrective pattern to finish wave (X). The secondary scenario (in red) assumes that wave (X) is in that we further go down in an ABC pattern to finish wave (Y).
Additional balance zone discussion based on 8/24 RTH session going into tomorrow's Jackson Hole Event
Discussion regarding balance zones. Discussion is based on previous days and weekly plan
The (first part of the) correction in the NASDAQ might be finished. We expect more upside but we have to be careful. The rally to the upside can fail and result in another corrective leg down.