I'm under the impression that Gold will correct to approx. $1254.
I've got a 'Magic Fibo' target, an Elliot Wave ABC corrective wave target, and low volume nodes on the volume profile.
We've just broken below, and retested some pretty heavy intraday support, and with that my algo triggered for a sell on the 15m candles. Really liking this entry.
If my count is correct (12345), I believe we have a pretty clean long position here..
(Can a '12345 corrective' come immediately after an ABC? I'm only beginning to learn Elliot rules.)
Channel looks good, take a long with a stop shortly below the 2 and 4 position, below the channel. I feel like if that doesn't hold there isn't much evidence for a long.
Volatility looks good.
Volume looks good.
Wave/Triangle counts seem legit.
Candlestick patterns have bullish sentiment.
Good spot for a long position? I think so. ~300 pips to my forecasted 'Wave 5' target, which lands right on a low volume node.
Stop loss around 1.92838.
Take profit area shown on chart.
Bearish Deep Crab on CHFJPY today gives an opportunity to ride a short position to the median line, granted we get an appropriate entry signal.
I'm going to be looking for price to break below VWAP with increased bearish volume. I use a couple of other indicators as well, as I'm sure you do too.
Price has good chance of retesting median line of pitchfork (in...
We've been trading in previous days range for quite a while. It's likely price will pop out and explore above, or below.
My analysis seems to imply below. If so, we have a pretty sweet short opportunity for about 80 pips (from where I'm entering, which is now). Take profit at or barely above low volume node @ 1.93530.
Long position from there? Possibly.....
Please forgive my elliot count. I'm an amateur.. Please, criticism is very welcome. I believe these counts are valid?
Regardless, we have a perfect 'Magic Fibo' target!
(See my previous ideas for magic fibo target outcomes)
Volume profile seems to compliment the forecast well enough!
Trade will take a long time to play out! Keep an eye out for good long...
Going Long! GBPNZD.
Enter ~ 1.90000
TP 1 about 105 pips.
TP 2 about 270 pips
TP 3 about 340 pips.
Stop ~ 1.89480
Pretty big stop for what I'm used to. ~30 pips. So position size accordingly, as always!
Enjoy and good luck!
Bullish Gartley and pitchfork combination yields a few opportunities to us.
I'm going to be looking for a place to enter LONG on support.
Exiting the position at the median line touch, marked by the red box.
This pitchfork should last a long time. I'm happy to have it!
CADJPY providing us with a super clean (max) butterfly and a beautiful C-D pitchfork to accompany.
Median line was tapped almost immediately! Remember, 80% chance of this happening!
So, I'm hesitant to go short - right away.
However, the pitchfork should give at least one of two super easy plays!!
Watch for price action to bounce around inside the channel!
I'm really liking the look of this projection for an impulse wave UP for NZDUSD.
The wave 2 retrace was just barely shy of 61.8%. Would have liked a touch, there, but it's close enough to play in my game.
Fib projected targets line up beautifully with visual support and resistance levels, as well as volume profile value areas and POCs.
I'm going to jump in and...
Here's a quick look at our current Bitcoin scenario from a Wyckoff perspective.. The Wyckoff accumulation event suggested here is a nearly textbook case example. The market seems to be reverberating from a large amount of strategic accumulation!
I might suggest that our 'must hold' level for this bullish scenario is the shaded area between $3700 and $3800....
Seems to me, some evidence here. Gartley, or butterfly, or whatever the fuck it's called. Nice pitchfork off of that, giving us some energy points. Fib lines up nicely. Sentiment analysis confirms (see link below). No news tonight.. I'm going for it.
I'm not totally confident on this, but it definitely could.. I don't see why not?
I mostly shared because I enjoyed making it, and I enjoyed the aesthetics. But, it's something to think about. Happy trading!
If ETHUSD drops down out of this bear flag, taps the 61.8%, and reverses bullish...
We have another Magic Fibo Target!
I nailed my last two magic fibo calls.. 400+ pips in profit!
This pattern also implies we have a nice bottom in. Might hold for a long ride up! Will need to do further analysis to figure that out.
Shout out to Stever Gregor...
Another 'Magic Fibo' level hit, and therefore a profit target.
But.. $4900?! Sucks. This is the first bearish TA I think I've ever done on BTC, myself.
We'll have to see!
There should be some fierce support around $6460, the 61.8% retrace and volume profile POC.
IF BTC drops about this low, I'm buying a bunch, I know that..
I was late into this trade, so I'll...