ABC
USDCAD ABC CORRECTION PATTERN Price is currently at long term structure and as we can see a 5wave corrective pattern has formed which would indicate a move to the downside. Price is currently at a position for a good R/R ratio.
Bitcoin Down to 7500 before a Massive RallyBitcoin is currently in the progress of an ABC zigzag correction and still is missing a fifth subwave in the C wave. The fifth subwave, based of a 1 to 1 Extension of the first subwave, should reach at least $7500 or lower. After this low, Bitcoin will likely rally to at least $13,000 according to Elliott Wave Theory. Bitcoin would be starting wave 3, and wave 3 is never the shortest and usually the strongest, meaning the estimate above is a conservative estimate.
There are many other signs that show that the correction is almost over. There is bullish divergence on both the RSI and MACD and a falling wedge pattern forming. These three signs indicate that even though the price is going down, the sellers are actually losing momentum. Every downtrend is getting smaller and smaller, meaning that there are less and less sellers. Soon the sellers will run of ammunition, and the buyers will take over.
Short Trade (2-3 days)
Entry: 8400-8500
Stop: 8850
Target: 7500
Long Trade (1-2 months)
Entry: 7200-7500
Stop: 6800
Conservative Target: 13000
Aggressive Target: 16550
The short term playSeeing this whole recent move of BTC as a failed 5th wave up and currently in an ABC correction down, the failed 5th wave makes it an X wave in a WXYXZ correction of the primary count, therefore we are now in the Z leg down where we hopefully finish the correction and finally bounce to the upside. The question remains where this bounce will be, for now I have hopes that it will be in the 8100-7500 area, but it could go to 6666 as well...the uptrend would still be intact!
BTC/USD Correction/Bear ScenarioThis is how i feel about Bitcoin:
We are currently in an ABC correction of the previous 5 wave structure.
We have confirmed the bearish count as we
have a clear B wave
Currently on C wave (looking for our 5 subwaves)
Using fib extension from AB and subwaves,
my prediction for C wave is roughly $6200-$6500
My prediction of C wave (SW 5) also has confluence:
1) An extension of 100% from Waves A+B for C
2) An extension of 261% from Subwaves 1+2 for 5
C SUBWAVES:
W3 looking to bounce around the 161% level
W4 looking to hit around the 38-50% range
W5 looking to hit roughly the 261% level
EURJPY BREAK AND CONTINUATION75+ PIPS BUY remaining after pullback...
Good Luck!
KEEP THE RADARS UP!!!
Bullish on ADA/BTC - 1 HrGreetings Everyone,
Everything on this chart is heavily dependent on BTC -0.25% fluctuations.
ADA/BTC looks like it might be coming out of accumulation. Although major downtrend has not been broken, we may see a little green in between. Trade at your own risk. This should only be a buy on breakout confirmation in my opinion. Happy trading!
GBP/CHF sell updateThis is the idea on Gchf. I just want to point out the amount of divergence coming in on the 4hr. Check out the 1hr. I believe it came down from top in a leading diagonal indicating further downside. I think it will either drop from here or make a small wave 4 and go up to .618. This is about a huge swing and trying to catch an entry on wave 3 that I can hold. It made a small ending diagonal on 1 hr and went sideways, pending breakout at trend line. It could be on wave 3 of the smaller 5 wave, but may have been 5. Keep in mind, I have explained this pair many times on my weekly outlooks and such, I suggest you follow the videos on my link if you trade with me. This was a long corrective pattern which finished with a huge ending diagonal and double top. I am definitely looking for more downside and if it was to drop from right here, the 1.618 fib extension takes you straight down to the 1.22600 level at the major supply zone. Also keep in mind I understand more modern forms of wave theory and that the market does not always follow a basic elliot type count, but that is how I see this within this smaller structure. That would make this an expanded flat as of now. Also keep in mind this is a Chiffy pair and may test your patience and risk management skills, plus this A-B-C can just be part of a more complex "B" wave, possibly pushing up to even the .786, but definitely needing at least one more push down even if only corrective, in my opinion, however this pair has the potential to even fall out the bottom and break the low of structure being a wave 5 down on weekly.... eh, out of breathe.
Shocking, Secret Facts. Part IISee the purple circles, history repeating itself, Cash Is King.
Here we see a classic ABC pattern formed where we have seen trend advance down, we pulled back, now we shall continue. We have seen this last time nothing has changed.
You will see below part 1 of this post where we had an analysis on $6000 and showed the last drop to this drop, this is still in play.
I believe what we have formed here is just a simple ABC pattern it has pulled back to test the level and the .618 fib now we will break the 200EMA and be back on track with my initial post part 1.
I am yet to have the chart tell me anything other then this scenario, we don't have volume pouring in it's falling out.
In 50% of break outs whether it's downward or upward you will see the ABC pattern it will always pull back and retest the level then continue in the same direction.
This is great if you are shorting as we were headed down and if you missed your short here is another opportunity to take it. Sell as soon as we cross that 200EMA.
I am going to find an alt to trade for you all tonight and let's pull some profit, not big profits but let's make it a stable profit that's low risk.
Cash Is King, All aboard the money train.
Part 1 attached below, this scenario is still in play and still stands.
BTC HEADED TO 6K! GET READY FOR THE CARNAGE!!!Hey guys, in my last idea I posted that I would post a new idea with an alternate wave count since the last idea was invalided due to price action. Here is the new idea. There are quite a few other reasons besides the wave count that make me very confident in this idea, but this idea will mainly focus on the wave count. I may post updates highlighting some of the other reasons I believe we see a sharp drop if I get the time.
As always, this idea is for educational purposes only and should not be taken as financial advice. NEVER trade solely based on someone else's opinion. Use these ideas to validate your own!
On the chart here we can see a 5 wave impulse followed by a sharp drop which I believe to be a Wave 2 retracement of our first impulse up. Note this wave count assumes the correction from 20k ENDED at the 6k lows we reached and that this is the start of a fresh bull cycle with 5 large impulse waves (that will take us to new ATH's). Currently, I believe we are at the peak of our B wave in this simple ABC correction. Note that the pink trendline is coming from our ATH and second highest peak, so it is a very strong resistance level that we are testing at the moment. The first red horizontal line is our conservative target which would give our Wave C (of the ABC down) a length equal to 61.8% of Wave A. The second target gives our Wave C a length equivalent to 100% of Wave A. NOTE the third target IS NOT POSSIBLE WITH THIS WAVE COUNT, but I have placed it there because if we do go below the last low of around 6k, it means the correction from 20k has not ended and the 3k level target comes into play.
As always, feel free to ask questions in the comments and give this idea a LIKE if you think it was useful!
BTCUSD analysis March 10Near completion of B wave in ABC, expect downward movement soon for C wave.
Could it be double bottom if bullish enough??
ABC correction in progress. 2018 is bearish.Hello everyone. After failed Bitcoin breakout and we can expect huge bearish movement down to 2k$. I don't see right now any bullish signs on my charts. I only post simplified chart of what we can expect from the market in 2018. So guys it is going to be tough times for bitcoin enthusiasts. If there are some signs of reversal I will post it. Stay tuned and hodl on!
EURUSD Short idea within corrective waveLooks like we're in a complex corrective wave in EURUSD , there's a possibility of around 200+ pips down move before up trend resumes .
Classic Set up! $$ Makes Sense! Hey Followers
I love these technical little trades, I think so many people miss them. On ETC/BTC, we have a double bottom formed (Circled in Blue) and a rally up through Resistance and the 50 EMA, price is now pulling back (turning resistance to support @0.00265. If we get a pullback to the level 0.00265 or the 38.2 Fibonacci retracement I will look to enter.
The aggressive entry is to buy at the level, and I am likely to take that one.
The conservative entry is looking for a bounce off the level and a Bullish Decisive bar on a shorter Time Frame (Maybe down to a 15 Minute chart), and then buy the break of the high of the bar.
Aggressive entry, bottom of pullback at .00265 level (or above)
Conservative entry close of bar over .00271 (so can buy above this price)
Stop loss for either trade 0.00263
Targets are just before the blue lines on my chart at
0.00275 Target 1
0.00295 Target 2
0.00316 Target 3
You will need to get into this one quickly when the chance arrives.
There is also the airdrop for this coin in around 24 hours so unless you want to take part in the airdrop (not my thing) i suggest we DO NOT hold this trade too long get in get out bank profit.
NANO/BTC ready for another bull run and breakout!Hello traders!
I have taken a look in Nano/Btc since this really popular right now!
This looks like a triangle where the ABC correction has been present and we are now already in 1-5 elliot impulse bullish trend.
we are now at the second point and at the perfect buying area if u like some risk in here since it has bullish signs!
The other point will be just after the breakout from the triangle and more secure way!
Note:rsi is turning around too
Currently in A wave of ABC of X wave of WXY, target: $13.000This major wave 2 has certainly not finished and I see it forming a large WXY (just as it did in 2014), currently forming the X wave
S&P 500. Possible map for current correctionIt looks like first 5 waves down of wave A are over in the upcoming zigzag structure.
Next we could see 3 waves up in the countertrend correction, wave B.
It could reach between 50% and 78.6% of wave A.
Then there is a second leg of 5 waves down of wave C.
Let us see how it goes.
AUDUSD (Sell Breakout) -4h ChartI measured bearish impulse by placing 0.236 right below ABCs and we can see how price retraced around 0.618, at this point I expect to sell the breakout all the way to previous support where -0.27 is, with Trend-Based Fib Extension I confirmed area with 1.618 around -0.27.
MACD has a strong resistance at top, which confirms bearish impulse.
Good Trading. -4h Chart
Upwards ABC correction expected. Drop to 9.1k before bullrun.Breakout out of the channel needed to confirm B and C. otherwise immidiate drop to 9.1k (previous resistance) before making full bullrun.
Bitcoin Completed his Correction or still Correcting?Hey Everyone!
I am back with another Idea/chart.
This time looking again at Bitcoin.
On chart you can see clear Elliott wawe in uptrend with a ABC correction.
It seems like the wawe is completed although the C could be A its a 50/50.
You can also see 3 Elliott wawes with ABC correction that just confirms the whole Wawe.
The last 5 Wawe is confirmed even with a Head and Shoulders pattern, thanks Bitcoin!
The whole wawe was really bullish which has confirmed the RSI, even MACD has heavily shown you the down trend end.
Okay, so right now BTC has 2 options of correcting in ABC.
1 - We have already corrected looking for an Impulsive wawe to start another Elliott Wawe.
2 - We are still correcting looking for a lower price.
Keep an Eye on RSI, Volume and most importantly on MACD if its gonna cross or not.
My buy would be at 9015.
Hope you liked my Idea, leave a comment down bellow with your opinion, I am responding to all of them!
I will keep you updated!
Thanks, likes are appreciated.
BTC To Bounce at 9.2k For FINAL Push UP! Then...LOOK OUT BELOW!Based on my EW count we are nearing the end of the 4th Wave down of this 5 Wave impulse (Blue Lines). Wave C is coming to an end and we are looking for it to end at approximately $9160. Ending here would make Wave C (of the ABC correction that Wave 4 is made up of) .618 the length of Wave A, and we know that Wave C and Wave A tend to relate to each other with a fib ratio (such as .618).
Furthermore, if we look within our Wave C and count the subwaves (Pink Lines) we can see that this Wave C is also made up of another smaller ABC correction, and ending at $9160 would also make this smaller Wave C .618 of the smaller Wave A (both drawn with Pink Lines).
For educational purposes only, entering a trade here would give us a very good risk to reward ratio. We would place a stop-loss at $9050 (going below about $9090 would invalidate this count as our Wave 4 would overlap Wave 1 high point) and enter long between now ($9300) and $9160. Upside is huge as our Wave 5 is likely to be extended since our Wave 1 and Wave 3 were not extended. This extension can take us to 13k or higher levels giving us a 1:10 (or higher) risk to reward ratio.
Wave 5 targets will be determined once Wave 4 ends (unless of course the idea is invalidated).
Finally, after this Wave 5 ends we can expect a larger correction that takes us to sub 9k levels (Hence the "LOOK OUT BELOW!" part). Ideally we want to exit the trade as close to the end of Wave 5 as we can and re-enter at sub 9k levels.
***PLEASE NOTE, THIS IDEA IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH***
end of ABC wave, testing TLHere is almost perfect example of a high prob. technical setup for buy:
-End of correction abc elliot wave
-Bounce from broken TL (R become S)
Ethereum, another bullish 12345?Ethereum suffered a perfect ABC correction and right now we can expect another 12345 bullish wave. Ethereum is using MA100 as support and Stoch RSI is turning slowly up in 1D chart.
