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Abcpattern

LONG ABC Correction is coming, Multiple Time frames analysisGood Morning Traders! We saw a sharp decline in 5 waves down to the 3 month low. From This point, I expect at least ABC correction in this market to 38% Fib lvl -0.51% . Nevertheless UK economy is in a SLEEP MODE and chances of another Intrest Rate hike by BOE in May is nearly 0. From Daily chart, we can see that Price is hovering near 200 MA and uptrend channel line from where we can see this ABC correction. As well We can see that price is about to retest the previous counter-trend-line thus there can be lots of bulls waiting to enter into this market. All the best, VW.
Long
by I0_USD_of_Warren_Buffett
ABC Correction is coming, Multiple Time frames analysis Good Morning Traders! We saw a sharp decline in 5 waves down to the 3 month low. From This point, I expect at least ABC correction in this market to 38% Fib lvl -0.51% . Nevertheless UK economy is in a SLEEP MODE and chances of another Intrest Rate hike by BOE in May is nearly 0. From Daily chart, we can see that Price is hovering near 200 MA and uptrend channel line from where we can see this ABC correction. As well We can see that price is about to retest the previous counter-trend-line thus there can be lots of bulls waiting to enter into this market. Best Regards, VW.
Long
by I0_USD_of_Warren_Buffett
BITCOIN : ELLIOT IDEA FOR LONGAfter having finished the ABC correction wave, we may enter in a new impulse wave on the long-term. The impulse wave I drew thanks to Fib retracement, indicates the different zones where we could find tops and bottoms. During the next few weeks, bears would dominate the market until we reach the buy zone located between $7826 and $8255. That zone matches the 50%-61.8% zone of the Fib retracement in which the wave two often completes. I would update that idea if some changes happen in the market.
BITFINEX:BTCUSDLong
by HatrekoS
WTC to come down to be in a good spot for a buyReasons for WTC coming down Bearish MACD Elliot wave count Bearish RSI Current ABC pattern forming a bullish triangle I think WTC is looking good in the long run it is in a good position for a big wave up aiming for the 0.618 retracement on the fib to start stacking some buys around $0.88c Looking like it will be a breakout if it breaks the upper most trend line could be around 3 to 6 weeks rough guess This isn't advice this is me thinking out loud don't listen to it :)
WLong
by StoneyStark
A couple of BTCUSD Tradeshere you can see the triangle breakout caught. Rose up to inflection point at $8189.00 then produced nice breaish Hammer Candle and I closed out for around $650 gsain Went shot for a quick retrace to the 61% fib level and coinsiding with moving averages. This produced another $150 gains New order placed for just above 10SMA to catch next run up to $8220.00 level Lets see - pls be gentle in reviewing....... Have a great night traders - Happy Hunting.
BITFINEX:BTCUSDLong
by SVPARKER
2
BTC - Correction - Elliott Wave Principle Hello, I wish to thank you for reading this analysis and I hope that you enjoy it. My original intent when writing this was to show, in detail, the rationale for my position, in clear, easy to understand, layman's terms as I have done many times before. As I worked through everything I came to the decision, that I would instead describe my analysis using the words of Robert Prechter and A.J. Frost, as written in their invaluable text, The Elliott Wave Principle (New Classics Library, 1978). All excerpts from the book will be marked in quotations, followed by citations of page (pp.) and paragraph (par.) from which it was sourced. In this way, with a copy of the text one could follow and/or provide feedback in the case that I overlooked something. With that I begin with a quote from the Practical Application section of the book: "Despite the fact that many analysts do not treat it as such, the Wave Principle is by all means an objective study, or as Collins put it, "a disciplined form of technical analysis." Bolton used to say that one of the hardest things he had to learn was to believe what he saw. If you do not believe what you see, you are likely to read into your analysis what you think should be there for some other reason. At this point your count becomes subjective and worthless. How can you remain objective in a world of uncertainty? It is not difficult once you understand the proper goal of your analysis. Without Elliott, there appear to be an infinite number of possibilities for market action. What the Wave Principle provides is a means of first limiting the possibilities and then ordering the relative probabilities of possible future market paths." (pp.94-95, par. 4-1) I am inherently neither Bull nor Bear; I believe what the chart shows me and express my analysis as such, whether that be Bullish or Bearish, it is what I see and I believe what I see. --------------------------------------------------------------------------------------------------------------------------- "The single most important rule that can be gleaned from a study of the various corrective patters is that corrections are never fives. Only motive waves are fives. For this reason, an initial five-wave movement against a a larger trend is never the end of a correction, only part of it." (pp.41, par. 2) "Sharp corrections angle steeply against a larger trend." (pp.41, par. 3) This Daily candle chart shows my preferred count for the entire BTC Correction that began in December 2017. It can be seen that the Correction began with a steep, declining, Motive 5-Wave that took the price from All Time High to 5811. As plotted my count is an ABC, 5-3-5 formation, zigzag. "... diagonal occasionally appears in the wave 1 of impulses and in the wave A position of zigzags...A leading diagonal in the wave 1 position is typically followed by a deep retracement." (pp.40, par. 2) A closer look at the 6 hour chart shows that the correction began with a leading diagonal for wave 1 down; the 18 hour chart below this also shows that diagonals have been common during the Correction. "The A wave sets the tone for the B wave to follow. A five-wave A indicates a zigzag for wave B..." (p.81, par.2) My count shows that wave B was a zigzag from 5811 to 11800... "Within impulses, second waves frequently sport zigzags, while fourth waves rarely do." (pp.42, par. 3) Primary wave 2 of A and wave 2 of C are zigzags.
COINBASE:BTCUSDLong
by BTCookieMonster
22
BTC/USD IT'S CLEAR NOW - ELLIOT WAVE & ABC CORRECTION WAVE !!Good day everyone, It's clear now that we are almost done for ABC correction started on Dec 2017. First scenario and this the most thinkable scenario is to bounce from the double bottom area this will need a good volume to break the hard resistances on the way i don't think it will take time to fly. The second scenario is (C) wave will take us deep to 5000 & 4000 area looking for strong support to bounce from there. The worst scenario would be to go more deeper (3000 area) and bounce from the uptrend that we have since 2016, But i don't think so. This is not a trade advice. Best wishes.
BITFINEX:BTCUSDLong
by Alienware
ROAD TO THE GOLDEN LITECOINHi guys, I needed to do that analysis to share with you a great opportunity. The ABC correction is about to end soon. As you can see on the chart, we have a double-bottom forming. While LTCUSD is stagnating, RSI indicates a nice bullish divergence coming. MACD also confirms that move as the green line crossed the red. In a short-term we should retest the falling wedge support to go to $137 significant support. If the bullish move is strong, we could recover $160 where we could find our Fibonacci middle support. That was a short and brief analysis, hope you enjoyed, whatever you think you can agree, comment or follow to see my next analysis. Have a nice Sunday ! ;)
BITFINEX:LTCUSD
by HatrekoS
3
BTC big deep - big up to come?Dear Crypto friends, we are facing a relatively crazy BTC moment, but as you know crypto is always a bit weird! so after a big deep to almost 6500 BTC started to pump back, now at almost 7100, it will probably build an A-B-C correction to around 8K and afterward we are still expecting a dump lower. MacD underbought and volume very high are a good reference to the next days pumps. Stay tuned and like, share comment if you enjoyed the TA. *this is just my opinion I'm not a professional advisor! Make your choices wisely and manage your risks!
BITFINEX:BTCUSDLong
by thegio
TELL THE TRUTH AND MAKE IT SIMPLEHi, i will make it simple in this chart. On the 1-day chart we see BTC bounced from the 61.8 retracement level, witch is an important level, when we are under this level it is a bearish sign! Above this level we could say market is moving to bullish but in fact we didnt do this we will go downer now. IF we hit the 8234 level, witch you can see at the orange line by today we will move downer from there and BTC will form the C of the bigger elliot correction waves, witch will bring us to around 4500 USD/BTC. Please look how this chart plays out ;) Thanks and good luck with your trades.
BITFINEX:BTCUSD
by YinYangCrypto
New ETC Wave StartingETC have been following a perfect Elliott Wave pattern. After the initial five waves ETC had a corrective ABC wave and again with a textbook 50% retraction to 0.0217 BTC. Now on the next wave and using the previous ratios the estimate is that wave 5 will move to 0.026 BTC by Friday close of business. Weekends are notoriously bad in the Crypto trading world so there will highly likely be an ABC correction over the weekend before resuming its upward trend next week. Do your homework and make your own decisions.
Long
by Wetdog544
1
Exide Industries - Long Term View Wave Analysis : Long Term View : Exide Industries : 4th Wave : C Wave Looking at chart looks like price in 4th wave completed b wave and c wave is going on which can be expected till 180-190 area. After completing wave c we can last rise in the price around 324 - 350 max which very extended 5th waves and then sharp decline can been seen in the price in the future wiping out 50% of the price movement. So, if top is 324/300 we can expect decline till 162/150. There is no idea of time line so please ignore timing of the market, just trying to fit wave patterns in the current market movement. Note: No trading recommendation for this analysis, just trying to figure out whats going on :)
NSE:EXIDEIND
by Imprimus