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With so little market data it is hard to see the market longterm...there aren't any longterm action or patterns to observe! Still human behavior is human behavior, so we just zoom down to the 4 hour chart. We do know in ANY market a parabolic price action (like we saw with BTC) WILL see a big retracement. It has done that have eclipsed the 61.8 fib and coming...

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People lot smarter than me saying this - this is what I see. Merrill lynch two Fridays ago said correction is on.

AuthenticTrader Updated 

Prechter was on Fox Business today, and made some pretty astonishing comments. He doesn't do that often: www.foxbusiness.com Check out the chart and be prepared!

AuthenticTrader Updated 

We have two pretty good EW Counts - A complete eight cycle, followed by a another five wave impulse, meaning we could be looking at the start of at least a short correction Wave 8. Priced touched the 200% fib extension off the last high. Of course we all know we are at an all time high where we have bearish Tweezer Tops and Doji, and also bears divergence with...

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This is very simple, the Elliot Wave count begins at the X point for the Gartley. The Gartley B point and D point neat perfect ratios. The D point is the beginning of wave iii if you are and Elliot trader, or a Gartley reversal if you are a harmonic trader. The count and the wave both happen near long term support. Elliot folks like to get in at the start of wave...

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Bearish Bat has completed on the 1d with a T-bar and test of all harmonic numbers. X point is a bearish engulfing candle pattern to add confirmation to this strong resistance level. On the 4h chart a small AB=CD pattern, and a larger Alternate 3.14AB=CD have converged in this same area. On the four hour chart a shooting star has just completed as well. Stop can be...

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Reversal off the daily harmonic completion. Now it will retrace to at least 32.8 of wave 1, then back up for wave 3

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Bullish Divergence with price lowest since Dec 2013. Bullish Candle Reversal. Price in the 1.13 - 1.27 fib extension. And AB=CD. Connors RSI Again oversold.

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These are the set ups we trade for. Connors RSI hit a low of 6, signaling possibly over sold. (Green rectangle). We have " near perfect Butterfly and a PERFECT 38.2 AB=CD that has completed inside this Butterfly. Price is trading at it's 52 year low on pretty good volume. Elliot Count preferred says this is beginning of new Wave 1. Alternate count would it...

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Pulled back just like we thought, and has just completed the 3rd leg a Elliot wave A-B-C corrective wave. Also is wave 4 of the bigger wave. We have piercing pattern candle completed too, with a bullish confirming candle. Elliot says wave 4 cannot retrace into the high of wave one, so if our count is correct, we have a nice tight stop of $.15 to $.20 and we can...

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We have a Bat - We have Connors 2 period RSI Trigger below 8 for over sold. Not much more needs to be said. Already up 4 % since entry. Bullish Engulfing at point D on the 1h chart

AuthenticTrader Updated 

Perhaps a little too aggressive not waiting for the candle. But It opened higher, XABCD pattern completed on 1h, and an AB=CD completed on the 1h. Classic Elliot wave count meeting all the rules and several of the most relaible guidlines. I lo=ve the support offered by the rising window as it converges with the start and completion of the pattern, and Elliot...

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This is a new idea but relates to my earlier idea. Patience! I have drawn a a classic harmonic AB=CD pattern. I quote ( paraphrase ) from Carney's book, "....it's hard to make yourself believe the stock will reverse because the sell off has been dramatic and the stock appears weak....but you must sell at D...not believing this initially cost me a lot of money" ...

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Pretty good set up forming here. The Precise B pt ratio has hit , C is within spec. Pattern starts at convergence with a .382 level on 1d chart and the completeion of a AB=CD inside this retracement. Pattern also starts with a morning star candle reversal patter at this same point. That's a lot of good things to start the pattern. If pattern completes it will...

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Not a lot of history, so we have to look at the 1h. ON daily screen Connors 2 Period registered an extremely low 8, indicating oversold. ( yellow rectangle)There has been nice volume. On the hourly chart we have a bullish sash pattern that complete earlier today. TSI has moved up and crossed signal line. Elliot wave count could be either starting new wave 1 as...

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First the disclaimer. I am very new to harmonic patterns, so take what I say with agrain of salt, and if I am washed up feel free. This appears to be an excellent set up as we have Two D points from two different converging, and both near the same resistance area. The more harmonic numbers you have converging is a very good sign. Further, the 1.618 extension of...

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Sorry about the late posting..I entered much earlier but got called away from PC before I could post. You have a a spinning top/doji, with a long lower wick, another doji, and a sash, and then an engulfing complete yesterday... all at a support level that is A FOUR YEAR LOW. I don't usually use Connors 2 period RSI for forex, but hey - it did register...

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This is a GREAT long set up. We have the convergenc of multiple harmonics. A Bull Gartley has just formed on 1d chart. The XD ratio is a near perfect 78.6 retrace in that pattern. Zooming in to the 1h, we see a PERFECT AB=CD that has just completed in the same area. Multiple harmoni numbers and patterns convergence in different time frames is a strong signal....