PATTERN PROFILE: Bill Wolfe's Wolfe Waves Pattern - Completed Target = 1-4 Line ("Take-Profit" Line) Trigger = 2-4 Line R/S action/reaction SL = 1232.55 PREDICTIVE/FORECASTING MODEL: - Future R/S Levels: 1177.42 and 1165.85 - High-Prob Reversal: TG-1 = 1153.76 - 11 DEC 2014 INVALIDATION: BACA > 1232.55 ------------------------- Note: Recent analysis...
Support levels at 1170~1180 is now a resistance. This rally brings a perfect opportunity for people who may have missed last week's dump, as its attempting its last kiss into the resistance before it gets corrected even further. Short with stop loss at 1200.
Traders, ELLIOTT WAVE COUNT: A L/T look at $XAG suggest a protracted bearish correction in the shape of an Elliott Wave Leading Diagonal, based on: 1 - A deep correction from a 49.780 high reached on April 25th, 2011. and 2 - Internal alternations of 5-3-5-3-5 waves, identifying the overall pattern as an EW's Leading Diagonal. PREDICTIVE/FORECASTING...
Thoughts about this? Ever since June, Bitcoin have been in an almost perfect sync with Gold's movement. I don't see such a relationship for the past 3 years of Bitcoin's history, could it be due to the strong Dollar or Bitcoin is currently being controlled by the same algorithms of some institutions?
To me this looks like BTC was leading the recent breakout; Gold and Silver following roughly a day later. Have to check if this happened in the past, but this could make BTC a 'market maker' of some sort, or at least an indicator - since arguably BTC traders might be more flexible and quicker to adapt.
2 setups in play for the next 6 months.
With USD rallying hard with precious metals crashing, I'd like to call bottom here. Chart is fairly self explanatory. Time will tell.
Bull flag from the recent run up... Let's see... Long on the physical stuff, charting the forex.
Silver for next week should be long .. because from i see last structure, last support didnt break the support around 18.495 and when the market is closed it show us that the chart may go to long :) or bull..
Traders, A quick target-hit announcement: Target defined last April 15th was hit - See analysis here: System continues to see further downside. Floor is not open to 18.185 ... And below as well. Cheers, David Alcindor Predictive Analysis & Forecasting TradingView.com --------------------------------- Get my signals, predictive analyses and forecasts on...