US 30: EW3 Starting up Retracement to ATH?Midterms Tuesday. From MW:
"Since 1946, there have been 18 midterm elections. Stocks were higher 12 months after every single one. Every single one. That’s 18 for 18. Even though we’ve had every possible political combination in the past 72 years. Republican president with Democratic Congress. Democratic president with Republican Congress. Republican president and Congress. Democratic president and Congress.
Since 1946, stocks have risen an average of 17% in the year after a midterm. And if you measure from the yearly midterm lows, the results are even better. From their lows, stocks jumped an average of 32% over the next 12 months. For perspective, that’s more than double the average performance for stocks in all years. We’re also entering the third year of a presidential term, which is historically the strongest year for stocks."
Dow and Sand P flat for the year now. Time to get back on track. Economy = strong, no recession in sight. Earnings - good, mostly real good. Mostly. Some surprises.
IF we are in an EW impulse wave THEN we had wave 1 last week for 1k pips and wave 2 pullback Friday, lasting into AM Monday session, when the bulls showed up.
Looks like we got a wave 3 starting up which I charted at 1.618 Fibo projecting extension to 26260 area with soft landing on wave 4 (alternating wave theory) and a fifth wave bullup to retest alltime highs. Call me crazy, but the impossible has already happened this year- twice. The zigzag correction has run its course, movin' on up!
2019 should run pretty strong until May when the cracks will begin to show. Subsequent bear will likely be longer than average bear, stronger than average bear, Yogi.
Here's the reference link: www.marketwatch.com
This is not investment advice, trade at your own risk, good luck!
3rdwave
EURCHF Bearish Corrective Structure Break With Big TargetThere is a big down trend on EURCHF larger time frame and we are currently watching the formation of this corrective structure before the break for more downside. Two options exist here. The break could happen now or alternatively we will see the formation of a 5th wave before the break.
I will be watching smaller time frames for direction and entry triggers.
Contact me via direct message for any assistance required
Happy trading!
Linton
IOST/BTC Correction Over ( 3rd Impulse Coming)Many alts have found market bottom after the recent crash with a promising reversal on the way.
IOST Has finished ABC correction after 1st impulse.
Hidden Bullish Divergence is clear with BOTH RSI and STOCH. MACD is also crossed over bullish.
R/R for this trade is -25% for a chance of 142%.
Buy in - 400-420
Targets:
477
616
766
973
Stop Loss: 289
ENG After Double Elliot wave combo! 200% profit longENG: Very great coin Fundamentally and have been waiting for it's correction to finish. RSI Very oversold. Macd Very low and histogram showing bullish divergence
Buy : 200 - 250 satoshi
T1: 330
T2: 390
T3: 450
T4: 555
T5: 650
No stops, very strong coin.
XVG Breakout after double zigzag correcti 300% profit potential!XVG Breakout after double zigzag correction, Wave 3
Targets Based of Fib levels and previous resistancess.
1150
1400
1600
1800
2300
POE, Just ride the waves...Bouncing between the .5 and .618 fib this is our entry!
Since EW3 can never be the shortest we are aiming for a 1:1 target and a tiny bit more, for those of you who are conservative you should stick to 1:1
Entry 800-860
Target:
1: 1300-1600 ( depends on how conservative you are)
2: 2100-2300 ( read above)
POE, Just ride the waves...Poe is looking absolutely beautiful, currently on the 2nd wave of a bigger 3rd wave.
Bouncing between the .5 and .618 fib this is our entry!
Since EW3 can never be the shortest we are aiming for a 1:1 target and a tiny bit more, for those of you who are conservative you should stick to 1:1
Entry 800-860
Target:
1: 1300-1600 ( depends on how conservative you are)
2: 2100-2300 ( read above)
Ethereum Will See $1000 Before The End Of The WeekThere is a relatively clear Elliott Wave structure on the lower timeframes and it certainly looks like this market is pointing up for the next few weeks or so. I am looking to buy on any minor retracements as long as $812 can hold*. We don't really have any divergence on the 1h chart, but may have when (iii) is carried up into the potential resistance zone. However, I won't be exiting at that point because I am still confident in the bullish case. I'm looking for the momentum to again pick up after minuette (iii) is completed, as fifth waves like to extend in Cryptocurrencies. I will most likely update this chart tomorrow to refresh Fibonacci levels for targets and reversals.
I will only look to exit on a clear 5-wave impulse to the downside, or once significant divergence and ending patterns are generated by this market.
*The reason $812 is significant is because there is a lower degree 4th wave completion just above this level. RN Elliott noted that 4th waves on higher degrees tend to hold above the 4th wave of one lower degree. Of course, this is not always the case, but in most cases it is and i'm happy to play to the probabilities.
Have a great trading week everyone!
Copper Bottomed Out! Wave 3 Started!! Copper Forecast!!Copper has potentially completed its Wave 2 correction and started its 3rd Wave. We see divergence to complete the wave v of C wave giving additional confirmations of the bottom. One can go long on Copper at current levels with stoploss just below 2.00 figure mark and Targets around 2.43 as Target 1 and 2.75 as Target 2. Its a nice risk reward trade.
Happy Trading!!
Happy Trading!!
Siraj Hudda, CFTe
Web: www.prowaveanalysis.com
Skype: sirajhudda
Email: contactus@prowaveanalysis.com
Facebook: www.facebook.com
Twitter: twitter.com
LinkedIn: in.linkedin.com
Natural Gas Long Opportunity!!Natural Gas after a large correction gave a fast 5 wave up rally towards 2.48 levels and since then has been correcting again. The correction has been in 3 waves which is complete or about to complete and we might see a new rally upwards from here which would either be a Wave C or Wave 3 and in both cases would go up. Therefore, one can go Buy Natural Gas now with stoploss just below previous low around 1.67 levels and Targets at: 2.70
Your likes and comments are appreciated.
Happy Trading!!
Siraj Hudda, CFTe
Web: www.prowaveanalysis.com
Skype: sirajhudda
Email: contactus@prowaveanalysis.com
Facebook: www.facebook.com
Twitter: twitter.com
LinkedIn: in.linkedin.com