someone514

someone514 Updated 

As shown. Price is forming an ascending wedge pattern. Anticipating further downside to significant fib levels

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pecting one more leg down. We can start scaling in. Target buy based on structural support and fib extension confluence.

someone514 Updated 

Using the inverted chart to plot a successful ABC correction since ATH. This count fits fib perfectly (and so i like), although in a few cases the guideline of alternation doesn't apply. In summary, we have a zig zag (5-3-5). -A wave has a truncated 5th wave but that's ok. Fib fits perfectly. -B wave retraces .5 -C wave has 5 wave structure. And using fib ext...

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- RSI attempting to print bullish divergence. To satisfy the rules we must break the first high at 42 to count as a printed bullish divergence. - Price action wise on the D1 chart: A red candle after two green days. The bounce was of a larger degree than all previous red candle sticks during this decline. The bears are showing their hands fairly early given that...

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as title. Look at H1 chart, trading sideways. Should local support break at hourly TF, things will prob get ugly.

someone514 Updated 

We broke historical trendline support in late november. Now price is printing reversal pattern at 1.618 ext in black from a .618 retracement. A dragon fly dogi yesterday. Price action is forming a descending wedge as RSI flattens. There is no obvious structural support between 2980 support and ~ 1k, so this is a price area to look closely after.

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LTC hovering at channel resistance. Breakout and close above will permit long entry, targeting 2.618 ext of the 0.786 retracement (wave 1-2).

someone514 Updated 

I am still bullish with our wxyxz count.

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D1 chart: - Two critical uptrend lines to watch: ~black: wave 3-4 lows ~ red: beginning of wave 1 & wave 3 lows -->Obviously, the black one is more significant (textbook & in reality). - One critical channel to watch: ~ the downtrend channel on the right. - One extreme support to watch: ~ dotted line $0.30 - One local support to watch: ~ red line at...

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There is a valid 5 wave structure in C of 4 in lower TF. We can now go for long for wave 5 of one larger degree. We can go for long and take profit at each target line.

someone514 Updated 

This is a W1 chart of Microsoft. The purpose of this post is to follow major companies whose share price affect the general financial market in order to anticipate the depression/recession that is to come. This analysis is based on EWP in combination with fibonacci levels, and some reversal candle stick formation in the end. After the correction of 2008-2009,...

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Brief rant before actual analysis: If there is anything I'd like to get across from this chart, it's that using inverted charts in bear markets can be extremely helpful when it comes to analyzing wave patterns. If you go to my recent ETP long idea, (although I didn't show my wave count on my inverted chart), but I was confident of the idea simply because there...

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Assume count is correct we still have room for upside that is wave 3 of 5 and wave 5 of 5. Despite strong bearish divergence on M1 chart, we still need pattern completion. Should this idea come into fruition, I expect a sharp reversal at ~218 (probably for wave 4 of 5), and ~297 (completion of 5 wave structure). All in all, even though there are bearish candle...

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WXYXZ is done. Long setup as prescribed. Plan: Buy now. Add on channel support. Add on channel break & retest. HODL and sell at target.

someone514 Updated 

Price reached the 1.618 extension of wave 1-2, which coincides with the resistance trendline formed by the leading diagonal. This resistance trendline was drawn during the formation of the leading wedge and has been on my chart since as the price level around the line is respected multiple times. Assume guideline of alternation applies, we can short to / rebuy at...

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This is in continuation of my previous IOT long idea, I am posting it separately to keep track of candle sticks formation. As shown. There is a possibility that this is a 1-2-1-2 structure which should be followed by an aggressive impulse that is wave 3 of 3.

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Price is now hovering at .618 ret of recent bull swing. It is a good place to open long positions with SL at invalidation level. (Although it is still ~10 cents away, so build your position size accordingly).

someone514 Updated 

Gold -0.47% is at an interesting price from a technical stand point. Last week's candle closed as a green dogi with a low wick that respected the support trendline formed by two major anchor points: - Nov 30, 2015 - Dec 12, 2016 There have been trades that punctured the supporting trendline this week and we made new low compared to last week, but the price...