suphaveerk

suphaveerk

Spotted a non-standard correction in the monthly time frame. This pattern has a min. tp of 61.8% of the last abc. Ps. This is a TP in a large time frame, suggesting this level could take a bit of time to reach (months to years).

suphaveerk

- Im expecting price to continue downward to complete the red wave-C. - Strong support point are on the chart (blue line)

suphaveerk

- Price is most likely an ABC correction, with the red wave C being an impulse and consisting of 5 segments - 12345. - Support levels are shown on the chart. - To confirm the end of this correction - 1. price breaks the green trendline 2. price breaks the white trendline.

suphaveerk

- Price just broke the purple trendline confirming the end of this non-standard correction (abcxabc).

suphaveerk

- I expect price to retrace down for the red wave c. - main support line are on the chart.

suphaveerk

- Expecting price to reverse and go up for the white wave (c) of the red wave B.

suphaveerk Updated 

- This pattern is called a truncated zigzag pattern, where wave (C) is less than or equal to 61.8% of wave (A) - measured using Fibonacci Expansion. - According to Elliot Wave Theory, price should return to AT LEAST 81.8% of the whole ABC correction - around 47. - SL: if price make a new low and break the green line. This will suggest that our analysis of a...

suphaveerk

- I counted a completed ABC correction as the red wave b. - I do expect price to continue to the upside for the red wave c. - First resistant is around 75.

suphaveerk

- Still is following our old plan. Congratulations who bought at the bottom of wave .

suphaveerk

-Non-standard correction (ABCXABC): min. target = 61.8% of the last ABC

suphaveerk

- Expect price to do another ABC correction in this non-standard correction (ABCXABC)

suphaveerk

- We are approaching the end of (red) wave C here. After this pattern, I expect a strong move to the upside. - Confirmation points: price breakout of white line - SL if price make a new low and break the orange line

suphaveerk

-The chart seems to be doing a non-standard correction pattern (abcxabc). -Confirming the end of this pattern: 1. purple channel breakout 2. price retrace back to the last wave (B)

suphaveerk

- Price seems to be at the end of the white wave c. - To confirm that the white wave c has ended, price should break the purple trend line; making this a good entry point. However; SL should be set at the green line low.

suphaveerk

- Price already broke the yellow trend line; suggesting the end of this wave, which seems to be a non-standard correction (abcxabc). - According to Elliot Wave Theory, a non-standard correction should retrace back 61.8% of the last correction (last abc of abcxabc). - SL as soon as a new low is made (orange line).

suphaveerk Updated 

- the big picture still looks pretty good to the upside, however; we do expect a minor retracement to around 0.277 soon. - this is because according to elliot wave theory, a 61.8% retracement will follow a non-standard correction (abxcabc).

suphaveerk Updated 

- Price just broke-out the white trendline; confirming the end of a truncated zigzag pattern (ABC). According to Elliot Wave Theory, after a truncated zigzag pattern, price should AT LEAST reach 81% retracement of the whole pattern - around 0.65 as labeled on the chart. (I do expect price to go parabolic reaching new ATH, but as of now more confirmation point is...

suphaveerk

- Price just broke the yellow trendline, suggesting the end of a zigzag pattern (wave ). - Hence; we are looking at a bullish move that could go up to 104860. Conservative traders might want to wait for another confirmation when the purple trendline broke out.