Get started

Abcpattern

Macro Elliott Wave? ABC Zig-Zag or Flat Formation?(Using the BraveNewCoin Liquid Index for Bitcoin (BLX) on a Monthly time frame - log scale) Are we in a Massive Macro Elliott Wave that started back during our first bull market in 2010? If so are we seeing an ABC formation and will it be a Flat ABC formation that takes us back down to the bottom of our bear market of 2018? Or A Zig-Zag ABC formation that will take us down even lower than our December low of 3.1k, possibly as low as 2k or even mid to low 1k region? Interested in hearing your thoughts below.
BNC:BLX
by DeeGee84
Bitcoin - ABC Correction - The market, it's math!BTC is reaching a key point of support and Fibonacci level. A significant bounce would be expected at the end of Wave C and Wave 5 anywhere between $9 - $9.1K (1.272%) After that counter-rally it will be time to re-evaluate to see if the major correction is over, or if this is just a breather before further down side. ($7K-8K range) A 40% total correction is down around the 1.618 Fib on this chart for a percentage reference. Also for a point of reference, those two blue boxes are exactly the same height showing the symmetry of this latest move (AB=CD - ascending broadening wedge). The highlighted channel I put on the chart looks very much LARGE bull flag does in not? (something to keep in mind) Long term I am still extremely bullish , short term we still have to feed the bears a little poisoned meat to occupy them so we can circle around the path and continue up this mountain. A 4 Hour view of the same chart. The current price action looks like it wants to head to the lower Fibonacci line The market is sovereign The market is antagonistic The market is not find The market will devour you The market will teach you The market will hit you. The market does not forgive the novices The market will lead to your soul STUDY! This is MATHEMATICS!
BITMEX:XBTLong
by ferGOD
3
EOS Elliott Wave Theory (Revision)Looking back at my previous assumptions in regards to this Elliott Wave pattern and in combination with the Ichimoku indicator, I initially underestimated the depth of the correction and thought that we may have more support in the form of a Kijun bounce before making a move into the cloud and a potential edge to edge move once within the cloud. While still learning many aspects of Elliott wave theory, I believe that the ABC corrective move could now be complete. In an ABC pattern, Wave C can typically be 123% – 161% of wave AB which looks to fit into the current fibonacci measurements well. This week's candle is forming a bullish hammer reversal pattern. In the medium term, I think a move into the cloud and a subsequent edge to edge move within the cloud is still possible with a price target around $12.23. This price target is represented by the long, flat top of the kumo cloud which acts like a magnet. The longer the flatness of the Kumo, the more powerful it is as a support or resistance level and the more powerful this Kumo magnet becomes.
BITFINEX:EOSUSDLong
by JoelRBishop
2
Bitcoin - ABC follwed by ABC ??? If so, better prices ahead.If this is another valid ABC correction that just finished instead of Wave 1,2, and the start of Wave 3 then we should see better prices going forward IMO. Still long my core position but took my trading profits around the top of what may be the completion of Wave C. Of course this is just one person's opinion. Many are still calling for $14K or higher right now. I don't know. This is what I see. The price could still reach out to the 1.272 and this pattern is still valid. All it means is that I jumped ship a little earlier than necessary. I do that sometimes. :0) I would also add that if prices breach well into the top of Wave A then this would be an additional confirmation that lower prices are to follow. We've come close, but not yet... Good luck!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
11
IT'S AS EASY AS..._____________________________________¶¶___________ ________________________________¶1¶1111111¶_______ ________¶¶111¶_______________¶¶¶¶111111111¶¶¶1____ _____¶1¶¶¶¶¶111111¶_________¶¶¶1¶¶¶11111111¶1¶¶___ ___¶¶¶1¶1111111111¶¶1______¶¶1¶¶¶1111111111111¶¶¶_ __¶¶1¶¶1111111111111¶¶_____¶¶¶1¶¶¶¶1111111111111¶_ __¶¶_¶1111111111111111¶¶___¶¶¶¶¶¶11¶111111111111¶_ _11_¶11111111111111111¶¶_____¶¶¶¶__¶111111111111¶¶ ¶¶¶¶1111111111111111¶¶¶¶_____1¶¶__11111111111111¶¶ ¶¶¶¶11111111111¶¶¶¶¶¶¶______1¶1¶¶11111111111111¶1_ ¶¶1¶1111111111111¶¶¶¶¶¶_____¶¶¶¶¶¶1111111111111¶¶_ ¶¶11111111111111111111111¶¶___¶¶¶¶¶¶1111111111¶¶¶_ _1¶111111111111111111¶¶¶¶¶¶____¶¶¶¶11111111111¶1__ __¶¶11111111111111111¶¶¶_____¶¶¶1111111111111¶1___ ___¶¶¶111111111111¶1¶¶¶____1¶¶111¶1111111¶11¶1____ ____1¶¶¶11111111111¶¶¶¶111¶¶¶¶111111111¶11¶¶¶_____ ______¶¶¶¶1111111111111¶¶¶¶1¶¶¶¶¶¶¶¶11¶11¶¶_______ _______¶¶¶¶¶11111111111¶111¶___¶¶¶111¶1¶¶¶________ _________¶¶¶¶¶¶111111111111¶__¶¶¶111¶¶¶1__________ ____________1¶¶¶¶¶11111111¶¶_¶¶¶¶111¶¶____________ ______________¶¶¶¶¶¶¶1111111_¶¶¶11¶¶1_____________ _________________1¶¶¶¶¶¶1111¶¶¶1¶¶¶¶______________ ____________________¶¶¶¶¶¶1¶¶¶¶¶1¶________________ _______________________¶1¶¶¶1¶¶¶__________________ ___________________________11¶____________________
BNC:BLX
by CryptoKittie
3
US 30 Setup to test ATHJust an idea; I'm not sure about this but I expected a LOT more selling, and it's not happening. An ABC countertrend surge may be in progress; if so, we'll have a new ATH this summer. There is NO rational or logical reason for this to occur; therefore I consider it highly likely. IT's exactly what happened in 1929... Fascinating that Fib time projects possible ATH on 03 September 2019... exactly 90 years to the day! If you read nothing else on TV, read this re valuations and future ROI: www.marketwatch.com During the final phase of the Bull market, irrational, frantic exuberance fueled by short covering will drive prices to extreme highs, until the shorts are covered... then the real selling begins. FYI I closed all my shorts today Weds 6/12/19, maybe a mistake, but futurz are pumping up again, so I can sleep at night. As always, this is not any kind of investment advice, just another crackpot idea. Please comment and like if you do! Thanks for watching. -DS
DJ:DJILong
by DaddySawbucks
Deep Bull-Trap Correction Underway?This chart idea updates the previous idea with new Elliott Wave counts to include the recent run from the $8.5k local high (which turned out to be the end of wave 3 instead of wave 5) to the $9.1k high. This would then put the $9.1k high as a truncated 5th wave. It is still possible that we could move higher to complete a 5th wave with a target in the high $9k’s, but that is looking less likely with the strength of the recent downward movement that has broken outside the lower bounds of the ascending wedge in green. One thing to note is that every major high and subsequent deep correction that has occurred since the 2017 high has exhibited 1) a high, 2) a rapid drop or dragonfly candle that quickly gets bought up, and 3) a subsequent lower high. Only on one occasion was the subsequent high slightly higher than the first high. These highs + lower highs, split by rapid drops or dragonfly candles are circled in blue. This also supports the idea that a broader wave 1 correction is well under way, as this pattern also appears at the recent $9.1k high. Also note that the 200 day and 365 day exponential moving averages are converging to the top of the target area, which also corresponds to a strong support area in the $5.8k region during the last bear cycle. So these serves as further evidence of a possible support zone. Here are a couple of scenarios for what may come next. The first is that the A leg of a broad ABC correction has completed, and we are now beginning the bull-trap B leg which could take us to the $8400/500 area. This would also result in a possible H&S pattern if it is confirmed. We would then begin the C leg down to the target area in the low to mid $5k’s. This target corresponds to the fib. 0.618 retracement which is very common for wave 1 corrections. Also, this fib. 0.618 region is close to the trendline that approximates a series of higher lows before the parabolic move up, which also serves as a good support zone. The second scenario is that we are still in the A leg of a broad ABC correction, and that we have another sub-leg down to the $7k area before beginning the B leg upwards, and subsequent C leg downwards. Incidentally, this is only the 5th time in $BTC history in which @coinmetrics Pro's NVTS metric has hit 100. The previous 4 instances were followed by 82%, 70%, 78%, and 83% corrections, respectively. So a correction beyond 61.8% is a very real possibility. twitter.com Final Target: $5k - $5.8k
BITFINEX:BTCUSDShort
by dalmazio
7
EURUSD Elliott Wave Analysis 09 JUN 19EurUsd trading under complex corrective pattern for last couple quaters. As per medium term structure also giving high probability to current complex pattern continue for few months. In short term prospective, last week we got some strong momentum upside. This momentum will continue upto 1.1450 level, before that once again price fell to 1.1215 to 1.1200 support zone. As per my point of views during the FED meeting on this month we can expect this level to enter Long. My Entry Levels for coming weeks: Side : Long Buy @ 1.1215 -- StopLoss @ 1.1125 -- Take Profit @ 1.1450
Long
by tidaltrader
NIFTY50 WAVE ANALYSIS 10 JUN 19Hello Traders, Over all around world Equity markets are Gained some percentage in 2019, Nifty also gained nearly 15% from low of this year. But we looking in the medium term pattern Nifty in ABC corrective pattern. This ABC corrective pattern reaches its saturation point as per my point of view. I am looking for 12230 to 12250 level act as strong resistance and this to again 10000 level on second half of this year. My Entery Point On Coming Months: SIDE : SHORT Sell @ 12230 -- SL @ 13000 -- TP1 @ 10800 -- TP 2 @ 10000
NSE:NIFTYShort
by tidaltrader
US 30 Near Pivot? Or Lower? Calls or Puts?!? Or Cash!?!See TLs in chart. Might be setting up for a bear rally like the two spikes we saw in Nov & Dec; or might still head lower to the long-term TL beneath. Appears like the A-B-C pattern may be nearing completion; unless it's another fakeout and we enter a real Wave 3 downtrend... so chancy now. Expected a bit lower but no massive selloff yet; market holding its breath, a tweet could spark rally from here, or break it. Lately more tough tweets than sweets... Fed probably won't ease or tighten atm, IMO. Trade war will likely continue through the 2020 election cycle- both sides want to look tough, no faceloss. If it cascades to give a double bottom there will likely be a significant rally from area of Dec lows. Really uncertain now; can do either; might do both! Sidelined in cash atm guardedly brooding; whither hence?!? See if we get consolidation over this week at these prices... wait and see safest bet atm IMO. Just an idea... not any kind of investing advice; trade at your own risk- GLTA!
DJ:DJI
by DaddySawbucks
1
Will Past Resistance Become Future Support?This idea is based on some historical analysis of previous top patterns in addition to some Elliott Wave analysis. One of the things to note is that every major high and subsequent deep correction that has occurred since the 2017 high has exhibited 1) a high, 2) a rapid drop or dragonfly candle that quickly gets bought up, and 3) a subsequent lower high. Only on one occasion was the subsequent high slightly higher than the first high. These highs + lower highs, split by rapid drops or dragonfly candles are circled in blue. So it appears, historically speaking, that these types of patterns are good predictors of top formations and subsequent deep corrections. Further, the Elliott Wave analysis shows a structure that is already quite extended in the 5th wave, also suggesting a correction is due. And assuming the bear market is over, and the low is in, this entire EW structure could represent a broader wave 1 which usually correct quite deeply, to fib. 0.618 or more. One of the reasons that I think we may correct deeper than fib. 0.618 is that there have been no tests of the area between previous strong resistance (the top of subwave 1 of the Elliott Wave structure around $4.4k) and the $8.4k region high. And one of the rules of TA in healthy markets is that previous resistance becomes subsequent support. That hasn’t happened yet. The $4.4k region was an area of strong resistance which we have yet to test and transform into a strong support, upon which to base a subsequent healthy bull trend. There are also a couple of trend lines. The lower one in thicker green is the trend line for the $3.2k low and the subsequent $3.4k higher low. The second trend line in lighter green uses just the $3.4k low and the last low before the start of the parabolic price movement in the $4k region. The target price area lies between these two trend lines. The ABC correction depicted has two targets. The first is the end of the A leg in the mid $5k’s. This is likely to get bought up quickly resulting in a bull trap B leg which is common of ABC corrections retracing to fib. 0.5 or 0.618 of the A leg. Followed by the C leg of the ABC correction down to the mid $4k’s or lower. Final Target: $4k-$5k
BITFINEX:BTCUSDShort
by dalmazio
1