ETH in wave B for this time,
Current wave count says we broke out of the triangle and right now we ended wave 3 of the final leg. I am waiting for a retracement till 1580 for wave 4 and then wave 5 till 1650 levels and go short from there. 1650 wont necessarily be the exact level but the point is to short from there after market gives reversal candle on daily time frame.
My preferred count shows that Bitcoin peaked with the test of 11,395 in wave (3) and wave (4) now is developing. Wave A decline to 9,250 and wave B, which has turned into an expanding flat correction, is expected to peak near 10,905, with an outside chance of making it to 11,227 before tuning lower in wave C. A break below minor support at 10,393 will indicate...
BTCUSD update: Price is retesting the 6950 to 7350 resistance zone (.618 of recent bearish swing) which is the 3rd leg of Wave B. This is where it gets tricky. Will it retrace lower or keep going? In my previous report I wrote that I was anticipating this upswing because this is a typical zig zag formation that is characteristic of Wave B counter corrections. I...
BTCUSD update: It appears Wave B is in play with one more leg expected to retest the high 6ks to low 7ks before the C Wave unfolds taking this market significantly lower. Based on the structure at the moment, the current formation appears to be transitioning into the second leg of Wave B which often looks like a minor retrace of a zig zag formation. A higher low...
BTCUSD update: This market moves fast. The anticipated retrace is in play as price has taken out the 6469 level signaling bullish momentum. 6950 to 7350 is the resistance zone to watch for the next bearish reversal. As written about in my previous report, the 6950 to 7350 area is the .618 of the recent bearish swing. Often, when a Wave B unfolds, it happens in 3...
BTCUSD Update: Price continues lower as it nears the 6040 support. What makes this area especially notable is that fact that it is the previous range resistance from October (5960 to 6150 highs). This is a likely area for price to retrace into a Wave B counter correction. Price appears to be falling like a rock and scaring out the weak hands. Now the 7500 price...
BTCUSD Update: 4212 to 4548 resistance zone implies limited upside and the possibility of a being the price area where a broader Wave C can begin. In my previous report about ETHUSD, I wrote about a Wave B high at 315 which once established, prompted me to stay away from any long swing trades. The bullish structure is not that bullish and overall it is a lower...
ETHUSD Update: 312 level compromised, but price sold off right back to 300. As I wrote about in my previous report, double tops are not always precise and based on this price action, this can be identified as a double top variation. A double top is a bearish sign, especially on this magnitude. On top of that, the current wave count is not bullish at all, which...
The resent strength of the Chinese Yuan has cached the headlines lately, but my Elliott wave count suggest that the correction in wave (B) could be coming to an end in the cluster-area between 6.3625 - 6.3928. As wave v of c of (B) has been the extended wave, we should expect a quick reversal once the low is in place. Short-term a break above 6.5566 will be the...
Last weeks strong close at 149.65 confirms that wave A from 244.80 to 134.13 is complete and a zig-zag correction to at least 176.28 and possibly 189.35 will be seen over the coming months in wave B. Wave v of A turned into an ending diagonal and once this formation is complete a return to the origin of the ending diagonal should be seen in half or less of the...
A picture perfect five wave decline has been unfolding from October 2014 high at 244.80 to June 20 - 2016 low at 134.25. This has completed wave A of zig-zag correction and wave B will now take over for a rally towards at least 174.35 and likely even closer to the 50% corrective target of wave A at 187.80. So after have been short almost 2 years it's time to...
This is the most probable ROAD MAP for EURUSD. Going forward i will be trading the same.
Ive been watching apple for a while, and we are in no doubt a corrective phase in the long term. The "corrective waves" down after the all time high suggest we are looking at a possible corrective flat. It would also make a good double top in traders minds, which would bring matching sharp C wave DOWN to the 400 area again. Lets see how it plays out