LukeSkywalker

LukeSkywalker

When looking at the 2008 recession i noticed some similirates. The first wave ended at a 1.618 extension which is also did in 2019. What next? We then had a impulsive wave up, touching the 0.618 extension of the 2nd wave up in 2008. In 2019 we are doing the same, but this time the wave went above the 0.618. It states that wave 2 can reach a maximum 0.786 extension...

LukeSkywalker Updated 

Volume is getting lower and lower. 5 waves within the C is finished and we have a 1:1 extension of A-B. That means we are nearing us a end of the little long run we had. My target for this mini short is 310 Keeping a SL at 358,5 would be the best, as there is a slight chance of a 1.272 extension. After that we should see a drop to the above target.

LukeSkywalker Updated 

On my last post i covered why AMD is going to hit the the 24 USD mark, and then drop. Well we went up slight higher, to 25USD and we began dropping. So where does that lead us? If we look at the previous analysis we just finished C, and now we would go for the 1:1 extension of A-B which is slighty higher at 7 USD. Beware bulls, its going to get nasty.

LukeSkywalker Updated 

With Nasdaq and the Dow officially in a downtrend, and have a lot of further down to go, i believe tech stocks are going to have the biggest impact on it. Right now AMD is doing a flat ABC, where it's going to test 24 USD again. I would place a short at 23,8 USD with a stoploss at 24,5 USD. As the title says i expect it to drop to 6 USD. With could...

LukeSkywalker

We got a possible leading diagonal consisting of 5-3-5-3-3. Therefore we should see a bounce from 3371-3318. But now we should expect that the leading diagonal breaks the above resistance and goes to the 2nd top we had at 4100. Stoploss here would be at 3300

LukeSkywalker Updated 

The market is due to a break out really soon. The volume has been very low the past days. What does that tell us? It tell us that we will expect a big movement soon. < If we use Elliot waves to determine where the move is going to be lets look at what we had so far. We just had the 1st wave followed by an ABC correction. We should now have a 3rd wave coming...

LukeSkywalker Updated 

Since we already had a ABC downtrending. We got our corrective wave up hitting near the 0.618-0.65 extension. (350-355) I expected that we would encounter some sort of resistance there as corrective waves usually end there. By doing a simple RSI 4H analysis, we can see that we have a bearish resistance at the top of the RSI, which suggest we should expect a...

LukeSkywalker Updated 

We have just completed a full on ABC. Wave C have just finished its 5th wave, of the 1:1 fibonacci of A-B, which indicates that we should see a upward movement. Also the 4H RSI is telling us that we have a bullish divergence which confirms the Elliott wave count. A movement up to 3900 is reasonable, as it is the top resistance of the falling wedge.

LukeSkywalker Updated 

On my last analysis we gotten a long opportunity around 3580. I am holding this long until 3830, where we should be seeing a 4th wave down for the retracement. Then it is to be expected that we would see a 5th wave up targetting 3990. Since we are developing som sort of wedge there is going to be alot of resistance around the 4k area.

LukeSkywalker Updated 

On my last idea we shorted 4100 to 3490. Gaining us a 18% gain (non leveraged). I would like to take the time to let you know of my new long setup which follows the ABC correction we currently are having. Note: Index chart The C is either going to end at 3445, where we would have our first Long. If that is to fail the stop loss would be set to 3410. breaking...

LukeSkywalker Updated 

I've placed a short from 4080-4110 to test if we have a ABC. I dont believe that the retracement we had was a proper ABC. So i think 3400 Area is very likely for our C. RSI is showing us that we have a bearish divergence on the 4H. MACD is also curving down on the 4H. So this support the bearish outcome. If it breaks above 4140. This theory would be invalidated.

LukeSkywalker Updated 

I think its likely BTC is doing a wedge formation, as we had low volume the last few days. I expect we will test the bottom of the wedge at (3670), and then go up for another retest at the resistance. Then i believe it's very likely that we break down below it. The reason is that 3k,3-5k is a huge accumulation area. After the break i expect it to hit 1.618...

LukeSkywalker Updated 

On december the 7th, i made a post regarding the a BTC Wave that no one was looking at. We got a bounce exactly of the 1.618 trend-based extension. On that analysis, i had 4800 as a target, which i think we will see after we hit our buy zone at 3420-3320 USD. 3420-3320 is the completion of the B retracement down. 4800 will therefore be our C. What i expect...

LukeSkywalker Updated 

What i noticed when charting, was the number of shorts keep coming up, while we had this little bullrun. It is to my understanding that this is a ABC correction up. If it goes past 3915, i see it going further hitting 4500. But i dont really see the longgivity in this bull run. If it continues to be under 3915, i see it going back to 3200. For now we will test the...

LukeSkywalker Updated 

Netflix just completed the whole ABC correction The 5th just hit the low at 249 USD, and now we will be looking for our target at: 386 USD, where the B is.

LukeSkywalker Updated 

The question is whether we are going to see a right shoulder on BTC or we just drop down from here. For a low risk long, i would enter 3330 and keep the SL at 3315. When the right shoulder is completed we will see a drop to 3k next. Right shoulder completion is at the top resistance at 3580. If it breaks the trendline by a closing hourly candle we will see it...

LukeSkywalker

It looks like Apple have done its 5 waves down. We should see a correction up to 0.382 fib at 190 USD

LukeSkywalker Updated 

Hello Guys I have been using Elliot Waves to predict everything. Whether it's a stock, Cryptocurrency or Forex pair. The Technical of the Elliot Wave principle stays the same. So i looked at possible scenarios of why we stopped where we did. Simply explained we hit the 1.618 trend-based extension of wave 1-2, where wave 3 usually ends. It actually hit the exact...