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Adam and Eve Elliot Wave count on QuantWhat you see here is a Adam and Eve patten with a Elliot Wave count. 3 Trade to be taken: Wave: 2 Long: Wait on entry below current price: $142 to take profit on around $187. Wave 3 short: This one will be a short because of the Grab Harmonic. This short is risky due the Adam and Eve pattern. Entry short should be around $190. Wave 4: Long: Wait for the pullback of wave 3 for a entry on around $160 and aim for the target 5 which could be around $200 - $216. Wave 5: Short: Between $200 - $216 is a big resistance. Together with the wave 5 confluence for a correction wave it's a good opportunity for a short trade. Target should be $160. BINANCE:QNTUSDT
by Chahin073
2
ABC on point! Following on from my previous post regarding LUNA. We can clearly see this is now in an ABC correction after having completed wave 5 to $118. LUNA is now trading below the ML of the green TC and also under the ML of the red TC. With the impending DC starting to converge I expect a breach of the green TC to the A before a bounce. However this would take us to the previous 618, (yellow rectangular box) which if fails, would see a significant drop lower. My bias is to hold my short down to the A, asses the PA at that time and consider TPing and going long up to the B.
LShort
by Mr-R-Sole
Gold - Three Specific Predictions (1915, then 1956, then down)LMK your thoughts in the comments. My three predictions... 1. Down to 1915 2. Back to 1956 approximately 3. Then a slapper down... And the question that will be answered by the market and the market only... is the trend still intact? Will we get one more C wave down or will it complete a full impulse and subsequently head for Valueville? Money flowing out of metals to move into bonds + hedging could be a powerful force near 2000. But so is war in Ukraine and a robust money supply. Your guess is as good as mine!
COMEX:GC1!
by FuturesIntelTM
US100 CORRECTIONS OVERLAYED ON BTC + DECOUPLING + MAJOR PRICESRecently I updated a NASDAQ/US100 chart that was playing out an ABC scenario over the past month (see related links for more info). To put it simply, two major situations I see as possibilities on the US100 chart are - An inverse H&S - A macro ABC corrective wave Given $BTC price action is coupled with US100 price action at the moment, these patterns would also occur on the BTC chart, which I have mirrored here. HOWEVER, it also presents the perfect and very dramatic opportunity for crypto to decouple from traditional stock markets over the next few weeks by BTC following the inverse H&S (or rally before then) whilst the entire global stock market continues to correct. Should this happen and we turn bullish: - Returning to 46k to 53k as a trading zone - A (somewhat unprecedented) rally to the ATH & Price Roof A (Plotted from the top DAILY wicks of 13th April 2021 + 10th November 2021) With that said, the inclination for BTC to continue to follow US100 and the current political turmoil pertaining to Russia is high. In this case, BTC will just continue to follow US100 on a slow ABC macro wave until Q3/Q4 with a potential Christmas rally (War is hard in the winter) This leaves us with the following key areas in a bearish only situation. - 35k trend floor (Plotted from the bottoms wicks of 22nd July 2021 + 24th Jan 2022) - 28k to 34k as a major consolidation zone with two previous trading ranges during (Jan 21 - Feb 21 + May 21 - July 21) as well as key wick bottoms. - 25k as the next trend floor (Plotted from the bottom wicks of 20th March 2020 + 21st Sep 2020) - 16k to 20k as the range at which a number of institutional funds entered the space (Grayscale entries, etc) - 6k to 12k as a major liquidity range over the past 5 years - 4.7k as the final and worst-case possible trend floor (plotted from the bottom WEEKLY wicks of 11th Sep 2017 + 10th Dec 2018 + 9th March 2020) Of course, I could be completely wrong and we just go sideways till Christmas. Who knows!
by saerinox
SPY: Futures on watch. ABC Correction?Quick chart on S&P using Gann box/angles - been finding these to be a great asset when charting potential support and resistance zone. Chart on the left focuses on the next 6 months while the one on the right is for painting a picture of the larger correction that may be at play compared to previous significant correction. Sitting below the 200MA on the daily, S&P could see more selling pressure and a retest of previous support becomes more likely with the growing uncertainty in the market overall. The 50MA and 100MA on the daily may also be heading for a bearish crossover which would align with the aforementioned uncertainty. The possibility of a Ukraine invasion + Fed turning more hawkish has led to volatility i haven't seen in some time over the last trading days and generally the moves have ended with the sellers in control. With this in mind, the possibility of the chart reflecting an ABC correction seems probably. At the moment, it is unclear whether or not the B wave is completed, which means there could be at least one more strong move to the upside before a return to the bearish trend. These conditions make for very choppy short term trades so longer period trading strategies and higher time frame charting will lead to less "noise" when discerning and positioning for the next move (With S&P, there is always the possibility of strong bullish sentiment and movement so the possibility of a wave 3 impulse is included on the chart to the left with bullish fib levels on the chart to the right)
CME_MINI:ES1!Short
by myceliium
SHIB about to tip?SHIB like many other coins have been showing a strong 5 since BTC recovery (short lived *cough). I think SHIB is reaching for Wave 5, it might have already, but I think it can push another 5%-10%. Wave 5 targets: Wave 5 #1 = ~0.00003673 Wave 5 #2 = ~0.00003787 Followed by ABC, use chart as a marker but not exact targets. This is my Thesis, targets are purely hypothetical based on my analysis. This is NOT Investment and/or Trading Advice. Happy Trades! ❤️ If you enjoy my ideas, Please like/comment, it means a lot, Thank You! ❤️ BINANCE:1000SHIBUSDTPERP FTX:SHIBPERP FTX:SHIBUSD BYBIT:SHIB1000USDT OKEX:SHIBUSDT OKEX:SHIBUSDTPERP
by WhoIsWu
ETH - High Probability For Being In A Bear MarketETH and BTC had a phenomenal run this cycle. From $81 to over $4800 which is more than 5800% gain. I talked more in detail of why i think btc is in a bear market so for that go look about my previous idea about ETH. I expect the rotation of the money into other alts not only from BTC but also from ETH. Because of that BTC and ETH will still go up with the rest of the market, but only doing an ABC retracement back to the .702 fib. retr. lvl. which sits around $4k. Think of those two (BTC,ETH) as a bucket of water that has a hole in it so as water (money) is flowing in it also goes out at the same time even more so than it flows in. I am not a financial advisor so non of this should be taken as a financial advise. Be well. BINANCE:ETHUSDT
by AVA37
BTC - First Initial Capitulation Very Likely Over It took 3 months for btc to finally capitulate completely. I still expect btc to remain in this price area, maybe even set double or slightly lower bottom to really scare the last weak hands off. By now it is safe to say that 30k will hold for now. Like i sad many times now, expect some kind of an ABC retracement back into 55k zone. We could also just go into the retracement right from here but usually bottoms get re-tested, like we saw in the summer 2021. As far as fib. retracement levels go, when ABC retracements come after initial rejection from the ATH, you typically see the A wave going near the 0.618 level and wave C going to 0.702 where we should expect massive rejection of some kind, taking us well below 30k. Alt season is still expected during an ABC retracement of btc price. I am not a financial advisor so non of this should be taken as a financial advice. Be well. BINANCE:BTCUSDC
by AVA37
Difference between ABC and WXY Elliott Corrective WavesElliott Wave Principle , developed by Ralph Nelson Elliott, proposes that the seemingly chaotic behaviour of the different financial markets isn’t actually chaotic. In fact the markets moves in predictable, repetitive cycles or waves and can be measured and forecast using Fibonacci numbers. Elliott wave predicts that the prices of the traded financial instrument will evolve in waves: five impulsive waves and three corrective waves. This educational article aims to present only the difference between ABC and WXY corrective waves and will not cover other wave paterns (triangle corrective waves , or any of the impulsive (motive) wave structures) Both ABC and WXY corrective waves are patterns made of 3 waves (swings) corrective structure and this similarity mostly confuses practitioners while labeling. The main difference between the two is in the internal subdivision of the waves (legs) Each pattern has its own rules, where ABC could be - a ZigZag patern that have 5-3-5 internal stracture - a Flat (Regular, Running or Expanded Flat) patern that have 3-3-5 internal stracture while WXY patern is made of 3-3-3 internal stracture. WXY is combination of two corrective patterns , hence often called as a double three or a double correction. Each wave W, X or Y could have almost any corrective structures (double three, triple three, zigzag, flat, triangle (wave W can’t be a triangle structure), or any complex combinations) WXY is also know as 7 swing stracture even it is made of 3-3-3 internal swings, the X-wave is considered as a connector wave because it binds two corrective waves and is counted as 1, W and Y waves are counted as 3 and hence 7 swings WXYXZ is combination of three corrective patterns, hence often called as a triple three, a triple correction or 11 swing, WXY rules applies also for WXYXZ Tips : An elliott wave practitioner in general may assume a trend continuation once an ABC correction is completed. In todays market complex corrections are more common than simple corrections, the markets are in a correction phase nearly %70-%80 of the time. Hence, once an ABC correction is completed a trend continuation failure must be considered in the trading plan and in fact, this failure is the main characteristic of the X-wave, a trend that has failed. Once X wave is completed another corrective structures is to be expected live examples (not financial advice, just experimental analysis) GOLD BTC Below is a link to Elliott Wave Oscillator study, where the "EWO with Signals" indicator helps traders to track the waves (in lower degrees). It provides insight to traders to observe when an existing wave ends and when a new one begins
Education
by dgtrd
43
BTC retrace to 40k!Sice 41.2k low "A" we retraced to the 0.382 - 0.5 level, making a corrective wave B (a common retrace for wave B) and an sfp of the 07 dec high smaller "a" with some trapped traders at the top, that made an abc for bigger wave B, if this count is correct we should have 5 down for C that would finish the corrective wave 2, a possible retrace would be the 0.382 to 0.5 of A for wave C (short but possible) taping the last untouched daily at 40711.0. And we are at the 2 of the fib time from wave A, that could indicate that B is finished. All this fits my bullish bias that this is only a corrective wave 2 and we should see a new all time high after that. B can go higher and this count could still be valid but if we go lower than 39500 this count is invalidated.
BYBIT:BTCUSD.PShort
by OthmaneAo
1