Great R/R on this entry I like the potential for a typical "flat correction" here on a larger fractal wave, which i have labelled WXY and its subwaves all good enough to expect a completed 5 wave move (impulse) lower here, highlighted by the pink wave count.
This would be the major wave im focused on for the EURUSD and a breakdown of its sub-waves...this pattern in particular is very common in a lot of markets for typical ABC corrections on all time frames. This case a monthly chart set for a final push lower.
This market is at a key point for my trade plan, where it could do a few different things but to simplify things i just create my best buy idea and best sell idea... for the EURUSD currently, the buy idea seems a bit forced and not very natural, whereas the sell idea just really fit properly, to standard EW rules with sub-waves and all that fun stuff... so that...
looking at candles or line chart we see the same corrective wave we need to determine if its done or not... this would look a bit more natural if we came slightly lower here
Interesting levels showing up if you measure the "impulse and corrections" of waves 1-2 for each fractal, we could see projections here well into 100k ....the question is by when? will it gap or take years or not even happen and crypto crashes?
I think this would be the max Bitcoin could drop right now without essentially becoming worthless or non-existent. We should be long here, the question is when and how...this would be the most extended targets for a fairly textbook EW ABC correction, clear into the 1.618 extension
If we're taking off now we should get some expanding waves to the upside and through my trade plan this major fractal, if its going to play out will have us moving much higher.
Taking this low (for a few reasons) and expanding out fractal textbook EW waves, one inside the next, bigger and bigger.
Not saying this exact thing will happen here and now. I'm showing a display of fractal growth in waves, within Elliot Waves rules. This particular example im showing doesnt have any larger fractal waves to count from or anything, but i have started here because of a potential larger wave completing...and IF thats true, then we should expand with fractal waves...
If this is a completed higher fractal wave to the down side, making this a valid starting point for a new "impulsive wave" up to come in. I hypothesis that "textbook EW" 5 wave impulsive waves will happen and after their respective ABC correction has completed, it will then create a larger fractal bigger wave making that entire "impulse and correction" a larger...
The ideas I've posted with different many potential waves and seemingly direction, is simply me trying to make sense of the smaller fractal sub-waves that would create the bigger move higher that i have already predicted for Bitcoin to EVENTUALLY go much higher. Specifically these areas (breaking new ATH's) are where the waves, through my trade plan have major...
Taking Elliot Wave Theory as a foundation and applying a fractal growth to waves as they complete a full "impulsive wave" and its "corrective wave" ...i consider that a complete wave fractal and we will either grow exponentially or, in this case would have already put in a reversal to the down-side well below these current level (which broke the recent...
Expecting a continuation higher eventually here, but first we need to finish this ABC corrective wave to the down-side. Then we should see steady growth until the waves are complete and this would create a "fractal shift" that would be going well over ATHs...typical twice as much as the previous lows (where price is plotted to go in this idea)
A yearly fractal completing here and really shows the "fractal growth" that I've developed this specific way of counting waves, with EW as a foundation as far as wave structures and counts for a complete "impulse and correction"
This idea is showing a more standard full retracement ABC corrective wave. If you check my other buy ideas for Bitcoin you can see the system I created using EW for its foundation and a fractal growth for counting the waves in a specific manner. The fractal shift completes the bigger waves correction without actually pulling all the way back as you would...
Most waves i plot (all valid waves with strict rules) are indicating we're still down from here, but should we start to move higher right now it should look something like this
If this higher fractal wave down is coming in, its these levels I'm looking to short from. We may even see nice pull back up here in the very near future to give us a nice higher price to short from. To confirm that entry you want to find the completed Sub-Wave/Smaller fractal wave, which would be a smaller fractal wave 1-2 correction (ABC corrective wave)
A strong drop here and other markets like Bitcoin are primed for a final push lower, before what should be a long term reversal!