From the last major correction , drawing extending trendlines. Measuring from the high of that correction to the low of the apex intersecting trendlines, we get 2 points to draw a fib circle that caught the Feb 2022, Jun 22 bounces.
To complete 100% fib extension WTI should go to $86, sideways to up at $90, then short to $79.50ish
Based on price drop through Fib 1.618 on Apr 22, 2022 without a pause, price will revisit (bearish rally) this area
BTCUSD is at the 3rd/4th touch on up trendline support and almost sitting at the 4.618 fib from Bitcoins 10-Nov-2021 high fib extension. If Bitcoin finds support at 4.618 fib, a reversal should push up to fib 2/1.618 should be the next target between $52,997 and $55,538. These are real targets for the optimist. But Bitcoin has broke most recent high fib 8...
Following the fibonacci ladder of decent, $1769 is the next area of support. If not a sharp bounce or cuts through fib 8, fib 13 at $1358 is next support level. Upside resistance $2047(unlikely), $1965, and $1883
Red dots represent channel points, then it's cloned and stacked. This is the area of weekly uptrend support, so if Nasdaq is going to find support bullish, this should be it. Lower time frames also are showing Fib Extension support from the highs in Nov 2021. And we are at a .382 fib between larger time frame Fib 21 and Fib 13. I can count 5 Elliott waves down...
Lets see what happens at the 100% zigzag extension at $56.26 / $56.31
Purple horizontal lines represent reverse fibs from $75.57 to $35.40 using all fibs 5,8,13,21,34... Channel is simply $189.10, $189.70 and the high of Feb 10's high of $193.80, then cloned and stacked. Look for reversals/support at these points. Tesla looks good toward $1384.09 near Mar 2022 where we can expect a pause or slow reversal/correction. In the...
Based on price action and fibonacci, In the short term, I think UJ will rise to fib 8 or 125.46; breaking the top. I'd really be surprised if it didn't hit fib 8 at the least. Afterwards look for a reaction; we should see a breakdown toward the fib 1.618 at 117 as its end point before reversing higher. Although bullish on the dollar, UJ and other YEN pair rose too...
Bearish toward 116 / 114 (Light blue) If TLT bounces strongly at 116 (Fib 1 Elliott zigzag from earlier highs weekly chart) expect it to move toward 128 and pause for a correction. (Dark blue) If TLT passes through 116 to 114 (Fib 8), expect a strong bounce then climbing up the Fibonacci ladder toward 122 for a corrective move higher.
ARKK starting wave 3 of C, If we get a bounce to the upside near $103, sell. Levels to keep an eye out for possible reversals to the upside retracement before continuing the fall toward $44.32 $81.40 .382 fib of the 2020 low to 2021 high $70.12 fib 8 - we should see a lot of sideways movement here or price coming back to this area repeatedly. $49.33 fib 5
I can see BABA hitting the 1.618 zigzag correction ( wave C ) by the 2nd quarter next year by the latest, Dec 2021 if it's incredibly aggressive. watch for reactions at the blue lines May have a nice rebound/pause/consolidation at $130
DJI has completed the minimum 5th wave travel but the 5th wave may still have more to go before completing. I'd not be surprised to see it touch $37129 before a larger correction but I'm neutral at this point waiting for more data/time. $37129 is the 100% extension from the Mar 2020 low until the Sept 3 high to Oct 29 Low of 2020, so if this has more room to the...
If we don't see a sharp move in the next day or so this pattern/price target isn't correct. I'm looking for a WXYXZ to form. We already have WXY - just waiting for the the last X to drive prices to $16400-ish then wave Z to complete wave 1 down, this will set up for wave 2 up, followed by(sadly) the decline of the decade in wave 3. Wave 2 must complete and wave 3...
Just pointing out an interesting observation of the important price highs and lows and the sense of humor among market makers. All highs and or lows are exact dollar amount without cents. 19666.00 or "666" that was the high of 2017 69000.00 or "69" this is the high this year (2021) - and don't think BTC is going higher that 69k this year. Not happening. And a few...
DXY just completed ABCDE pattern for the ending 4th wave. As with and ending diag, after E completes we have an impulsive 1st wave. I wouldn't be surprised if we retest 96.56 (blue ray) before continuing. EURUSD and other USD pairs are not gonna have such a nice thanksgiving. Happy Thanksgiving Traders!
If this wave count is correct, Wave (v) should bring price up to $97.11. Connecting wave (ii) and (iv) and cloning a parallel line (blue) to Wave (iii) we get the termination point for Wave (v) - or if it hits the top of the blue line, that may also be the termination point. Wave (iv) is still seems to be in progress but I think it's going to be more complex since...
Im seeing 3 zig-zags forming a triangle to complete minor wave #4 correction. If true, we should see a strong and impulsive move to the upside. From the size of the triangle ( about $10) we should see in the next several weeks hitting $96 minimum. $96 lines us up at a pivot from Sept 2014. Remember, it should be impulsive heading up and not willy-nilly or...