This is the wave pattern I am sticking to unless we break to a new high above the trend line (WITH MOMENTUM).
If the price goes above the trend line in divergence to indicators then I am a seller and staying short (false break).
The wave analysis shows 4800 minimum for wave 5 if the bearish trend line holds and the price plays into the forecasted support and...
there was breakout upward from triangle pattern in last briefing but it still move sideways.
Let's start the analysis for BTC/USD chart.
If you are busy, you can just read below briefly
'1. Briefing '
'5. Summary and Strategy'
before read, click '+Thumb up, +Follow' :-)
# Sideways Movement
# Golden cross ( 20EMA and 100EMA ) on Daily Chart ??
In a recent movement of LTC/BTC, I observed double truncation pattern and double apex pattern(To say 'Double' is may not be a good word in this situation, but is used for emphasize the pattern is repeated.).
In the chart above, Apex pattern was shown after Truncation pattern, and now the LTC is moving towards the 'e' point on the second Apex. As showed in a...
It looks like we might now be on the third subwave of wave 3 of C of this correction, assuming it is an ABC correction for wave 2 of the higher degree uptrend. If so, we should see a strong bounce around 7800 and then sideways for a while for wave 4, before continuing on to wave 5.
I think we might see a truncated 5th on this current 3rd wave down to start wave...
Looks like I counted wave 4 as part of wave 5. I adjusted the wavecount on the previous wave C of B to properly count the 5th wave up. Now we appear to be on wave 2 of 5 of the final wave C of this correction. I am waiting for either 7600 to see if it bounces there and maybe I'll buy in, or it could go as low as 6000 since this would be wave 2 of the greater...
I was wrong and BTC kept climbing a bit further before losing steam on the latest run. It looks to me like we are near the end of wave B of this ABC correction within wave 2 of a bullish trend.
I'm new to EW analysis so please let me know if anything seems to break the wave formation rules/guidelines. As far as I can tell everything conforms. For wave C down I...
BTC price rebounded from $ 8400 points. I had expected a similar decline in the last posting 'Ongoing Flat correction', but actually it was steeper and stronger than I thought (the price plunge of altcoins).
I observed ‘truncation’ in the red box shown on the chart. This means a change of trend, and the possibility of starting a new elliott impulse. So I think...
I've been watching the $11,800 level for a few days now as it's a VERY strong resistance point. I'm now seeing a rising wedge that, to me, indicates a truncated 5th wave and a retraction between $10,500-$10,800 before we bounce for the 5th wave up. Short term - I'm bearish and planning on shorting down to $10,800 then I'll flip to a long position to...
New to TA so please excuse my ineptitude. As far as I can tell, this idea conforms to Elliot Wave formation rules. If this is correct, we will be entering corrective wave 2 shortly if $11786.01 isn't broken. I would appreciate any feedback if I've misunderstood or overlooked any formation rules which invalidate this analysis.
I feel so stupid considering I had perfect buy entry earlier, and also because I fel like I never took the time to properly look at this as a whole. It is possible it produces a nice sell setup, but considering everything I would at least expect it to hit that 618/equal length, possibly much more. EA told us exactly what it was doing, I was just to busy looking at...
FX:CADJPY found support at 89.00 and made impulsive rally last week after long one month complex correction. So, we see five waves up with Bullish Market Truncation in fifth wave, broken channel resistance and three waves down correction, which is our signal for longs. We expect a bounce in days ahead into third wave up back to new highs. FX:CADJPY is bullish as...
Since 29.07.2013 AUDCAD has been in a corrective regular flat pattern and has given us a 3-3-5 sequence till now, so expecting this correction to end for the last final wave which will probably unfold into a five-wave motive sequence to complete the A-B-C ZigZag pattern.
In the regular flat:
1 - Wave-(A) developed into a ZigZag internal structure 5-3-5,...
$Kalv setting up for a potential Bearish Butterfly
But it's still early to say for sure !!!
PRZ will be 9.33
I expect only to see T1 (8.28) happening due to - a completion of the pattern will break an important resistance line going way back. That could send the price of this stock very high. (Gaps to be closed).
T2 come in at 7.61
Time will show!
Looks like another bearish bat here. Most recent bull run broke long term trend channel. We had a previous bat that signaled a huge short, along with Elliot wave truncation. Will be looking for short setups on a lower time frame! If you like my idea, give me a thumbs up! If you think it's idiotic, well I'd like to know that too :)
Good luck next week!
LOOKING FOR A BUY SET UP IN AUDNZD. WE HAVE A BLUE AND RED ELLIOTT TRUNCATED WAVES, YOU CAN VERIFY IT BECAUSE OF THE PURPLE STRUCTURE AT THE TRUNCATION ZONES.
THE COMBINATION IS ITSELF A 4H CORRECTIVE STRUCTURE FROM THE FIRST IMPULSE FROM -B- AT THE WEEKLY -ABC- CORRECTION I POSTED BEFORE THIS ANALYSIS.
I AM WAITING FOR THE MARKET TO CONSOLIDATE IN A FLAG AT THE...
Nat Gas trend has been down for two years now, and the small corrective cycle in a bearish trend has ended.
Chart had a small corrective wave (last move truncated) and I'm targeting a fast move to $1.50 for my first target with a small bounce to near $2.0 support turned resistance and a final blow to $1.05.
Nat Gas fast move lower will effect oil prices.