I think there should be more lows next year like the chart shows, but after that a strong recovery should follow.
Hi Guys, again me, this time with a BTC possible scenario. I am assuming that we will complete black wave 2 this year. I assumed that if the blue wave A lasted 53 weeks, the blue C could take just as much time, where the black wave 2 could end, between $ 952.95 and $ 1017.74. If this assumption is confirmed, we will see the 53rd week on June 22nd but after that...
In this scenario, GBPAUD still has one third of the bullish correction ahead of it.
Should this setup work, then you could focus on about 1190 pips. Falling prices until June 2000.
At 1493 and 1503 I see opportunities for short entry.
December: the blue path. January: the red path.
In the middle of next week it might be possible that the yellow 5 comes to an end. Here are 3 potential levels: * 1911.34 is the 1.618% Fib of the yellow wave 4 * 1925.39 is the Fib Ext of the yellow waves 1 & 2 * 1939.72 is 200% of the yellow wave 1 Or just keep an eye on the upper edge of the trend channel as the last limit. For an A B C correction, the first...
If BTC does not close above 10059k by the end of January (on a weekly and monthly basis) then my assumption for further falling prices could be confirmed. If we see such a development, then a wonderful opportunity would be offered to build long positions around 3300 with SL below the December 2018 low. It would be ideal that the blue wave 2 comes to an end at...
7427 should be the next target. Alternatively, the move since the high in July is a 5-wave and in that case the wave 5 could fall to 6968.84.
If this view is confirmed, then in December (about second half) short. Prerequisite: no daily closing price below 1.6064.
As long as AUDCAD stays under the yellow c (0.9120), we could use this setup for a long-entry in the second half of December. Alternative: the A rises to 0.9229 and then drops to form the B (in my view, this is less likely but not completely excluded). Even though the B is finished earlier than mentioned above, I look for matching long-entry at 0.8906. Profit...
If the low of September 2019 (at 1.1958) holds, then I see a very good chance to go long at the end of wave 2 (at 1.1988) and build long positions for about a year with the first target at 1.42988. But for such a good opportunity we have to wait about half a year and see if BREXIT does not ruin this scenario. Do not forget this currency pair !!!
Here is a potential pattern as Ending Diagonal Triangle, which should be finished in the first quarter of 2020. It may be that DJ remains above 25577 by the end of November and if that is confirmed, then it is likely that lower prices will follow in December ... so be patient ... it will be worth it.
If not tomorrow, then next week gold should reach the EMA 55 ... If there is no increase above 1490.40, then I go short with Target $1440.65. Watch the low of the 8th of October - as resistance.