According to Classical Relations between Waves, 0.382 (51800) was the end of the B wave, and from there wave C started. The only problem is, according to same rules, wave C should take us to where? Because in rules it says
Wave C is 1.618, 0.618 or 0.5 of Wave A length. That means it can take us to 11K BTC. Interesting. But as it is not likely to happen, I think...
The start of the Covid-19 pandemic kicked of a volatile time in the stock market with a 34% market decline in 24 days. This marked a clear new leg in the market and allowed one to start an Elliott Wave mapping.
In this chart, I begin with the classic A-B-C correction wave as the market declines and follow it up with the 1-2-3-4-5 impulse wave of the new Bull...
This is ONE beautiful chart ;) if this plays out honestly this is one to frame and put on the wall. I can't help but marvel at how technically perfect it is. If this plays out- it'll display the real power of Elliott wave. This 4th- 5th wave trade is the bread and butter of Elliott- it doesn't get better than this.
2nd wave retraced to the high...
Major downtrendline broken. Once WAVES🌊 break up out of this choppy range (18.8-11.5), I would expect the price surging to the white resistances (can be used as targets), but I think we are going much higher ultimately. This current chart above reminds me the situation in the chart...
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(WAVESUSD 1W Chart)
If the price is maintained above the 7.6414734-9.4895768 range, the uptrend is expected to continue.
In particular, if the price is...
Following on from our previous analysis on this pair, which is now a risk free trade. We are looking to open our second entry at wave 2 down, following on from the double top pattern! As you can see price is completed a mini correction and we expect further decline on this pair until Jan 2022.
Entry and Sl marked.
Likes and comments welcome.
bitcoin is no doubt has a lot of potentials to go upside but remember anything which goes up must come back. bitcoin has not made any correction in this rally up. i am expected remember im expected it to go at least 35k down before any buy.
for me now bitcoin is very expensive to buy and also too soon to sell wait for a confirmation before selling it. "cheers"
We had the first half of the week, a small correction at the gold chart. Wich is healthy ofcourse. If you you zome out where are still in a bulltrend.
Just need to patience to enter longs again
What I want to see is a close and retest above the $1800 level. Wich is highly respected in history.