Seems like we've put in our wave 2 with a running flat correction . Get ready for some volatility!
Seeing this as an irregular flat correction. Still believing in one more pump before heading lower!
Bottom seems to be in for IOTA. Treating this as a swing trade! If we continue to keep going up with decreasing volume, it'll make me believe that the bottom is still not in after my target is reached.
Just a little update on gold! Starting to see this as a leading diagonal (but still bearish short term). Will be looking for longs where i circled (0.382 - 0.5 fib) where wave 2 most likely will end
Looks like we got the retrace i was expecting (modified my count). New lows are coming!
Clearly looks like a truncated 5th wave. Expecting this rally to keep going!
One of the best looking charts for me whenever i get asked on my view for the dollar long term. Emerging markets have been no doubt, a strong signal to where the dollar may be going in the future. (or at least it has been my little secret, this whole time).
Be side my Elliott wave count, we cannot ignore that natural gas was going parabolic before the whole move up. Last parabolic move, we saw natural gas lose more than 80% of it's value before a bottom. This time, it'll be no different. New lows are likely to come.
We can expect the dollar to hold it's level trough out this year and the next.
Possibly the start of an impulse down about to happen! From a volume perspective as well, it has decreased. No doubt that we have topped.
This is a swing trade idea! Volume is getting lower and lower. We should see an incease in volume soon!
Will most likely go up with low volume before another drop to complete this truncated 5th wave. Good to note that the MACD has crossed bullish! (Which confirms my bias that we'll get another push before heading down!)
As seen on chart, we got that a bounce off of 0.236 to place that "a wave" and now should the downtrend should resume to complete "c". Also, volume has been declining and the MACD has turned bearish! Very nice R/R for a short right here.
Interesting how we're also going to get a bear cross on the daily soon. So what i'm seeing is a short term rally up, then a drop.