Trying out a new style of analysis. First sell off finished, recovery rally finished? If this plays out, it will invalidate my previous EW analysis (see related ideas)
Like if you enjoyed this chart, and feel free to comment any ideas.
I'm under the impression that Gold will correct to approx. $1254.
I've got a 'Magic Fibo' target, an Elliot Wave ABC corrective wave target, and low volume nodes on the volume profile.
We've just broken below, and retested some pretty heavy intraday support, and with that my algo triggered for a sell on the 15m candles. Really liking this entry.
Putting...
I've had a lot of success trading these 'magic fibo' numbers.
IF the price comes up to test the 61.8% retracement (~129.895) of recent down move, test it, fails to break through, reverses, we have a pretty, pretty good look here to make a high probability swing trade down.
We are looking to IDEALLY take profit at ~127.337.. I felt that volume profile was...
If ETHUSD drops down out of this bear flag, taps the 61.8%, and reverses bullish...
We have another Magic Fibo Target!
I nailed my last two magic fibo calls.. 400+ pips in profit!
This pattern also implies we have a nice bottom in. Might hold for a long ride up! Will need to do further analysis to figure that out.
Shout out to Stever Gregor...
Another 'Magic Fibo' level hit, and therefore a profit target.
But.. $4900?! Sucks. This is the first bearish TA I think I've ever done on BTC, myself.
We'll have to see!
There should be some fierce support around $6460, the 61.8% retrace and volume profile POC.
IF BTC drops about this low, I'm buying a bunch, I know that..
I was late into this trade, so I'll...
