ProficientForex

ProficientForex

( Daily Chart ) In the daily chart, and in the previous analysis, we considered the IV wave as an ended wave in the range of 1764. We were expecting the price increase and cross the level of $ 1965. In the range of $ 1959 and with price decrease from this area and by crossing the price from the range of $ 1818, it seems the structure of the uptrend, from the...

ProficientForex

In the 240-minute chart, by price retracement from the range of 1.3446, the Diagonal pattern represents itself. The interesting thing in this chart was the 3rd wave from this pattern, which was in the form of a confusing Double Zigzag. The targets of the bullish trend can be extended up to the range of 1.3750.

ProficientForex

The study of Elliott’s waves on the 240 -minute chart: The first uptrend ended in the range of 10.68 and in continuation the corrective movement of this price has ended in the range of 7.16, and within the 50% of Fibonacci ratio. By crossing the price from the range of 9.98, which also breaks the downtrend line, we can expect to reach the targets of $ 17 and then...

ProficientForex

The weekly chart is as follows: ( Weekly Chart ) In the daily chart, with the end of wave B in the range of 102.99, the price has reached the range of 89.20 with 5 descending waves, which has created the scenario that, we may encounter a truncated C wave. In the 240-minute chart, to get the confirmation for this uptrend, the price needs to cross the range of...

ProficientForex

First, we describe descending scenario: In the daily chart, we can count 5 waves up to the range of $ 41950, which indicates the end of the uptrend in wave III, in order to have the completion of wave IV, we must wait for the price decline up to the range of 16,500 to 21,800 dollars. The reason we considered a long corrective movement in wave IV is that in wave...

ProficientForex

The first 5 ascending waves started from the range of $ 18.13 and ended at the level of $ 102.42. The corrective movement of this uptrend has been completed in the range of 46.27 which is approximately equal to the Fibonacci ratio of 0.618. By crossing the price from the range of 89.77, which is the end of wave B from the correctional structure, we can be hopeful...

ProficientForex

The first 5 uptrend waves started at the level of 3.89, has ended at the range of 25.85. The corrective wave of this trend was very complicated and in the form of Expanded Flat and Double Zigzag patterns, which is completed in the range of 12.21, that is equal to 0.618 Fibonacci ratio. Currently, by crossing the price from the range of 21.82 (the end of X wave)...

ProficientForex

The first uptrend, which started in level of 0.3031, ended in the range of 9.82, in continuation the price entered the corrective phase of this uptrend, which is a simple 3-wave pattern that ended in the range of 1.99.12. This corrective movement has been completed in the range of 0.786 Fibonacci ratio. Then, with the breaking of the downtrend line, we can be...

ProficientForex Updated 

In the daily chart, as shown in the image, the first wave from 5 ascending waves has been completed in the range of 2125 Satoshi, and with a simple pattern -the corrective movement has been finished in the range of 392. According to this analysis, by crossing the price above 990, we should expect a price rise up to the range of 1593 (targes of the pattern) As the...

ProficientForex Updated 

The 2 / B wave has ended in the range of 0.1140 and the price was able to reach the range of 0.7900 with 5 ascending waves. Under the influence of market news for this currency, the price pushed down to the range of 0.1700. (Completed the 2nd Wave) Currently, by having the price hitting the channel line, there is a scenario that wave 2 is over and wave 3 has been...

ProficientForex

In the daily chart and by price crossing the trend line, the uptrend is confirmed. In the 240-minute chart, according to the wave count, the price is in sub-waves of the 3rd wave from “ i “ point , which can be extended up to the range of $ 1967.

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The structure of the wave is in the form of three waves, and there is a scenario that we encounter the Diagonal pattern. Probably the 5th wave is shortened. By crossing the price from the range of 1.3539, we are waiting for a downtrend in the 2 / A wave.

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There is the possibility that, the Diagonal Pattern in 5th wave from point 1 has been completed in this price level, and in case if the price crosses the range of 1.2214, we will wait for the price decrease.

ProficientForex

In the 240-minute chart, the Diagonal pattern is formed in the V wave, to get the confirmation for the downtrend as well as this pattern, the price needs to cross the range of 29722. The initial target of this downtrend is around 28900 area, (according to the Diagonal pattern target)

ProficientForex

In the weekly chart, there are two important ranges. The first range is $ 497.10, by crossing this range, we can be hopeful for an uptrend formation for the targets of $ 2,200 to $ 3,000. Also, if the price crosses the range of $ 231.07, it may encounter the Triangle pattern, in which a long corrective movement is predictable and then we expect a descending...

ProficientForex

As you know, the price level of 1.3132 is a very important range, and if our price crosses this range, our scenario will be changed. According to the wave count in the 240-minute chart, wave iv has ended in the range of 1.3132 and the uptrend has started in wave V, which its targets can be in the range of 1.3900, the wave count has shown in the 60-minute chart.

ProficientForex

With the price crossing the range of 1.2166, the uptrend has been confirmed, the price is currently in the 5th wave from the 3rd point. After the completion of this trend, the corrective movement process begins in the 4th wave. The midline of the drawn channel is very important to us and we can go long while encountering this midline

ProficientForex

A: As shown in the picture, wave IV has ended in the range of $ 1764, and the price is rising in the V wave. From the sub-waves of this uptrend, wave ii has ended in the range of $ 1818, also by the price crossing the range of $ 1855, we are waiting for the price increase for the target of $ 2200. The first ascending wave from V point, is likely ending in the...