Corrective wave 4 (A-B-C zigzag) has fulfilled its down movement with over 100% fib extension; just touching 1.18 fib. We have ended with a nice doji which is a buy signal. Looking left we have consolidation inside the blue box, I'd not be surprised if price enters in here. Look for a bullish pattern before jumping in or buy and keep stops tight. We don't want...
Looking at zigzag correction in the next several days toward $35585, which will be the 100% extension from the A-B-C corrective pattern. Look for a strong bullish push at this level; as this is the characteristic of the zigzag toward $36353
Looks like we are still in a lower degree wave 3 advance. I was totally wrong last prediction calling a decline at $16153. Although we closed at 100% fib advance at $16153, it blew right through it the next day. This is a strong bullish signal. Looks like we're starting a wave (iv) and it should be more complex than wave (ii) which wasn't much of a correction. But...
watch for a bearish reaction at the .786 fib at $15968, if its strong, and we get a +3% sharp decline expect more of a decline - maybe even the beginning of the 20% decline everyone is talking about, if its a weak reaction, buy the dips toward the 100% advance off the 3rd minor wave at $16153; If we get here, again look for a strong bearish reaction...it may...
Oil is hitting the 1.618 fib extension from the first impulsive wave, watch for a considerable pullback down to about $80(1.414 fib)...IF we get it. I'd look for pullbacks to get in to buy. Oil will probably go to $95 by Dec 20; the top of the blue channel. Bottom Blue channel connecting wave 2 to 4 gives us a measurement. Extending that line/angle from wave 3 to...
Dark green arrow shows we just finished wave 4 - ABC zigzag correction and are heading to a 1.618 reverse fib(wave 3 to wave 4) advance to a high of $16514. If the trend follows the channel and fib levels, it seems to converge around Nov 3, 2021 alternatively, light green , if we see a decline below wave C at $14400 a double zigzag is forming and a new low at...
Just sharing the major trendline based on the price labels. Then cloning that channel and stacking on top as price broke through. If it breaks the main channel downward, I'll clone that one and place under the channel with the price points.
At the current angle and trend, which SPX has been maintaining at least since 2018, we should see $4116( Fib 89) near the beginning of May
Showing how to create a channel and duplicating it to find areas of future support and resistance. Look for 2 obvious long wicked candles; connect them via a channel, resize the channel to see how it might fit in with previous support/resistance, clone it and stack them(either on top or bottom). I find its more accurate than a pitchfork. Channeling or drawing...
Furtures M2K just hit the 100% extension and slope resistance in the Asian session too... Watch out; May want to play the pull back
BTCUSD continues to remarkably bounce on Fibonacci levels from the start since 2012. The chart says it all.
BABA on the weekly looks like a Elliot ZigZag, The speed of the decline favors a zigzag correction pattern. If Wave C = A, 166 is its landing price. 166 also has a nice support area.
According to a weekly trendlines, seems like this may be a good time to go to a lower time frame and see if gold bounces bullish
Looks like an Elliott A-B-C-D-E pattern forming with the last leg(E) down to around $5800 before going to the m$$n (> $20000). This is the weekly chart so I'd expect this to take several months until we would have confirmation. Short term. I'd hope we'd see some bullish retracement, look for counter trend line breaks on a 4h-daily chart higher and taking longer...
Look for a reversal at $13029. This could be the big one!
Look for either a reversal at or near $3524 - either daily or weekly chart. If/when price breaks $3524, $4116 is the next major level to consider a reversal
Bearish to 117.9 Jun 22-ish off the daily Zigzag looking for 100% of wave A to trace out from B until around 117.9
ending expanded flat to complete the bullish correction rally