We assume we got our bottom around $0.00002795 between the 0.618 and 0.786 Fibonacci on our correction wave 2.
We then enter phase 3 of the Elliott cycle with a target of 1.618 to $0.00014.
Is Shiba to the moon possible? Let's give the Shiba time to confirm our impulse.
Entry Price: 0.00003715
Target Profit: 0.00014 (+280.6%)
Stop Loss: 0.000025 (-32.8%)
This impulsive wave on weekly time frame for almost 4 years, started on 2018 of December, requires a price correction base on Elliott wave theory.
The 38.20% to 50% and up to 61.80% Fibonacci retracement of the impulsive wave is my expected drop of price, together with the 200MA pointing upward that will serve as support level.
Supporting this idea Death Cross...
in accordance with my previous forecast where i took a BE and some profit out of the short from, price is now at the 90% rule of the structure, where i am looking for price to break the low before moving in the forecasted direction long. if price is to form an element of structure leading to the third touch breaking the low to the left (the 90% rule) i will be...
The wave C of wave ((4)) is to complete and we are going to ride on an impulsive wave ((5)).
One can take safe entry when price breaks parallel channel or Enter at wave 5 of wave (C)
As per rule wave, 4 can never overlap the starting point of wave 1 so our SL will be high of...
Back to the basics & a reminder that I am a swing trader and I have bought my puts for this dip
Candlestick analysis shows a sideways trend.
Will the impulsive high continue or will we see a decline to a higher low?
I free handed some trend lines and as you can see, X^2's high gave me X^1's level of support which is shockingly the level of...
Recent price action from January shows that after an impulsive wave, prices drop.
This impulsive wave then acts as support for prices to push up to the next impulsive wave.
Currently, we are at the support level with signs of a bullish push through some bounces.
The next target will be the high of the last bullish impulse.
Hello traders and analysts,
Here is our take on GBP USD - the trade is active, with FX it is a moving target so we will look for an additional entry upon a nice supply up coming but will it hold? the answer is yes, so price reacted at our 0.705 and resisted - now we have a long aiming to close into the purple zone.
Long Short Total %Long...