With a weak hands shake out, from the premature break of the ascending triangle and a failed H&S after to reck the premature sellers, looks like we are continuing the uptrend direction. On the move to hit 19k, if we are able to break and hold above the trend line. This is Crypto Wild West.
BTCUSD is moving inside an ascending triangle, after it has broken a strong bearish trend. Look for possible retracements to enter in a long position. Beware of false breakouts due to this compression phase, if breaks the trend, that will be our invalidation zone and stop loss.
This is a continuation of the US500 trade idea posted a while ago. I applied Elliott wave theory and fibonacci extensions in market geometry to predict key zones in price fluctuations. As I found Elliott studies so poetic and inspiring, I decided to do a twist with the name :) We are going for the bullish 5th wave. Look for signs of support around 3131 and enter...
We are going to retest the broken trend line. Price Is forming a correction ABC zigue-zague structure. Looking to sell after rejection on the green line.
We are forming an Elliot triangle correction pattern. At the moment price is consolidating at the tip of the wedge, expect a contraction in volume as we consolidate and gain momentum go up. When we do, it means BTC also broke the 2years old trend line, and we will be having a nice bullish season. Be aware if we break the base of the triangle, it will invalidate...
This is a continuation the XAUUSD trade idea posted a while ago, where gold has been following my forecasts. I applied Elliott wave theory in market geometry to predict price fluctuations. As I found Elliotts studies so poetic and inspiring I decided to do a twist with the name :) we are going for the bullish 5th wave. Turn on your printing machines ;;;)
This is an update idea regarding the other post. We've witnessed a big gap that brought the the price artificially above all resistances levels , but it bleed all the way down. Technically it's forecasting a red report for US tomorrow if keeps following #Elliott principles.
According to Elliott fractal theory, after those green impulsive waves there comes the correction, besides we have huge divergences in MACD pointing out a change of trend.
lets cocreate abundance
There's a good chance gold complete the wave 4 movement, after those long impulse waves
There's a good 50pips scalp potential for day traders. If you want to play safe, wait for the triangular diagonal contraction for a sell position with much better risk reward and confirmations. Long or short, you choose. :)
Btc hold a strong support around 6600 zone. We've seen divergence followed by a strong impulsive wave in small time. We are now testing 7k zone. if we can break through we will go up to 7500. Wait for price confirmations (bounces from the above drawn lines to operate).
Currently the SP500 is poiting south.... after the impulsive waves correction aka fed injecting liquidity in the markets, we can see that manipulation clearly with a divergence ( red arrows) price registering higher highs and oscillator higher lows.
