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Abccorrrection

S&P500 to test its support @ 4434A simple A B C zigzag correction is completed in S&P500 index.Wave 'A' is 5 wave(wxyxz )marked as 12345 and Wave'C' is 5wave terminal expanding pattern(3,3,3,3,3) Minimum requirement of wave''C'' is achieved (62%ofA) @ 4819 on 4th Jan'22. This index will take a breath at this zone(62%) and test for its support level before making any upmove further. The first support level ( c2,c4 trendline) is @4434. If this level brokes, we can see another bout of decline as this index starts its next phase of bear market
UShort
by selvamB
SAM needs to dropThanks for reading this post. For several reason it seems SAM needs to drop, we see from history that it doesn't like to leave gaps unfilled (see three thin grey rectangular shapes across the graph) and it currently has one at 366. There is also a 1.27 extension of the most recent impulse wave down from its high at 364. Using time symmetry (you can see it in the ABC correction I've outlined earlier in the year) I would say roughly 6 days after it starts to turn down would be a good time to take profits on a short position. Lastly we see a very high level of volume on a relatively average sized green candlestick which implies that a lot of selling is going on 'behind the scenes.' Today it got a price upgrade but I am still bearish into the mid 360s for aforementioned reasons, setup is invalidated only by SAM making a new high.
NYSE:SAMShort
by TNasr
$BTC in Bullish Pennant: Target $14.5k and beyond in August 2019Hi everyone, Welcome to another update on Bitcoin! Check out that long term 2019 trend line. We think it will hold as very strong support for this ABC correction, which is nearing its end. Bitcoin is coiling in a Bullish pennant for more than a month now, with some over-extended price action. So how is this bullish pennant (green triangle on chart) formed? The support (lower side of the triangle) is the long term 2019 trend line (yellow). The right side of the triangle is the neckline of the infamous inverse head and shoulders in July. The left side is the upwards rise connecting the above 2 sides. That's your bullish pennant! Expecting breakout of pennant anytime in the coming 2-3 weeks as the price action coils towards the tip of the triangle, and as the C wave finishes correcting probably down to $8.8k levels (which happens to have a nice fibonacci confluence with the retracement from Jan 2019). In Summary: we're expecting $8.8k soon, then a continuation of the rally to $14.5k targets (and beyond) in August 2019. P.S. It's not worth taking the risk to wait to $8.8k levels to buy the dip - doing so now is more guaranteed. In fact, there is a possibility that the C wave is already in, and Bitcoin is en route to 5-digits with no turning back to 4-digits again! Cheers, Leb Crypto
BITMEX:XBTLong
by Leb_Crypto
Bad Apple: Paths at ER of 0.62 Fibo Retrace; DeadCatBounce?Chart says all. Not advice. Not a prediction. Just see a very expensive stock of company selling overpriced gadgets trading right at 0.62 Fibo after massive selloff bounce. Might be fakebreak after first rejection from the TL shown price edged up over the TL. If breakdown below, expect retest of TL then ultimate rejection. If ER miss, going straight off. If beats, then maybe an A-B-C leading to secondary correction- 'sell the news.' Really risky to be long at $200 if this dog won't hunt. GLTA PS Credit to HH for idea on ER levels- right back where it got in trouble the last time. Smart money going into T-bills.
NASDAQ:AAPLShort
by DaddySawbucks
6
Bitcoin Gold Ready for Liftoff; Long to 580BTG has been downtrending for quite a while now and has completed its 3-3-5 flat ABC correction. The correction also formed a bullish falling wedge, accompanied by falling volume indicating falling selling pressure. We had a very strong bounce on Dec 7 of the support line of the falling wedge, possibly setting up for wave 3. According to Elliott Wave rules, wave 3 is never the shortest and often the longest. That means we will get a minimal target of $480 with a 1 to 1 Extension. That is a whooping 90% gain! Some more aggressive targets include the 1.272 and the 1.618 Fibonacci Extension, which are $550 and $650, which will more than double your money. Of course, there is a still the possibility that we haven't finished corrections yet. In that case, we would have another 2 bounces in the falling wedge and form an ABCDE correction. We get a short term conservative target of $265 instead. The long-term targets would still remain similar, only dropping by $20 (which gives us $460, $530, and $630).
BLong
by aoeuaoeu
5