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Abcpattern

TenX Catching the Bitcoin Corrective TsunamiThere is a bearish pennant chart pattern across most cryptos that began on Sept. 8, and has now broken out. What’s remarkable is that it occurred across many cryptos at the same time. This suggests to me that there is a move underway, which will affect all cryptos. Specifically, I’ve already written about the Bitcoin tsunami, where I am expecting a correction down to the $3000-$3500 range, and possibly deeper if the conditions are right. However, for TenX, the pattern is not quite as clear as for the other cryptos, as the penant appears to be drifting upwards slightly with each bounce. Nonetheless, the breakout has occured even for TenX. In addition, TenX appears to have some noise that manifests as a hyper-extended wave 5. I believe this is due to pump and dump groups, who artificially, albeit temporarily, manipulate the price of a low-cap market. The reason I think this, is because the overall price structure seems to be out-of-whack compared to the other markets. As such, I've compensated with a purple wave in an attempt to filter out some of the noise. Bitcoin dictates the broad bearish or bullish trend of the entire crypto market. Within that broad structure, all other cryptos can have their own unique bearish or bullish trends or counter-trends. But they are comparatively much smaller movements within the broader picture. When there are large movements in Bitcoin, it brings everything with it. Add to this the bearish pennant across all cryptos, the steep loss of momentum and volume, and we have a recipe for a deep market-wide correction. The targets I’m providing are for the various Fibonacci retracement and extension levels of corrective ABC Elliott Wave for TenX, or Wave II. The deeper the Bticoin correction, the deeper these levels get activated. Target I: Wave II ≈ Fib. 0.618 x Wave I ($2.14) Target II: Wave C ≈ Fib. 0.618 x Wave A ($1.95)* Target III: Wave II ≈ Fib. 0.764 x Wave I ($1.51) Target IV: Wave II ≈ Fib. 0.854 x Wave I ($1.13) Target V: Wave C ≈ Fib. 1.0 x Wave A ($1.04) Target Range: $1.51-$2.14
PShort
by dalmazio
Omisego Catching the Bitcoin Corrective TsunamiThere is a bearish pennant chart pattern across all cryptos that began on Sept. 8, and has now broken out. What’s remarkable is that it’s occurring across all cryptos. This suggests to me that there is a move underway, which will affect all cryptos. Specifically, I’ve already written about the Bitcoin tsunami, where I am expecting a correction down to the $3000-$3500 range, and possibly deeper if the conditions are right. Bitcoin dictates the broad bearish or bullish trend of the entire crypto market. Within that broad structure, all other cryptos can have their own unique bearish or bullish trends or counter-trends. But they are comparatively much smaller movements within the broader picture. When there are large movements in Bitcoin, it brings everything with it. Add to this the bearish pennant across all cryptos, the steep loss of momentum and volume, and we have a recipe for a deep market-wide correction. The targets I’m providing are for the various Fibonacci retracement and extension levels of corrective ABC Elliott Wave for Omisego, or Wave ((ii)). The deeper the Bticoin correction, the deeper these levels get activated. Target I: Wave C ≈ Fib. 1.0 x Wave A ($9.09) Target II: Wave ((ii)) ≈ Fib. 0.764 x Wave ((i)) ($8.55) Target III: Wave ((ii)) ≈ Fib. 0.854 x Wave ((i)) ($8.30) Target IV: Wave C ≈ Fib. 1.236 x Wave A ($8.28) Target V: Wave C ≈ Fib. 1.618 x Wave A ($7.03) Target Range: $7.03-$9.09
BITFINEX:OMGUSDShort
by dalmazio
2
EURJPY - 5-3 WAVE PATTERN + H&SWe can see that the pair has reached a level that had not been retested since February 2016, and upon touching it, it bounced off and broke the major upper trendline a few days later. After the ECB meeting and Draghi's talks regarding QE we can assume some further weakening of the euro for the days to come. We can also see that a H&S pattern formed and I would be considering a short entry after the break and close below the neckline as indicated on the chart Trade safe and do your own due diligence before entering a trade.
Short
by Aqua_Trader
1
ARKW ETF looks like a classic ABC move to me.looks like we are at a crossroads, will it go, or will it retrace? Which ever way it moves in the next few weeks will likely be our signal to know how to play this out for the next 3 to 12 months. A. just keeps creeping up, nice and steady, bulls keep control and just steps its way to target. B. retrace, build up selling pressure, then during 4th Q, the bulls will take over and push it quickly up past 37 and off to target before end of 2018. Either way, I predict the bull market will prevail over the next 3 to 18 months.
AMEX:ARKWLong
by 4XRandalll
EURCAD 5-3 WAVE PATTERN - ENTERING ON THE PULLBACKReason for short: 1) Minor Upper Trendline broken with one strong bush so (bias is still bullish but there is a small counter trend opportunity - therefore a tight stop loss since this trade carries high level of risk) 2) Pair was unable to push through a major level of structure and immediately later the trendline was broken Target is set for 2 levels of confluence Trade safe and do your own due diligence before entering a trade. For one on one education join us on: www.valuedbusinessconsulting.com
Short
by Aqua_Trader
ABC FORMATION IN GBPUSD - 4H CHARTHey Folks, Simple idea here, ABC structure possibility if market brakes the top and reverses (red). There is a chance that we brake uptrend on a new impulse. Either way I am looking for a Buy Set Up. - Hey Amigos, Simple idea aquí, posibilidad de una estructura ABC si testea el tope y se da la vuelta (rojo). Hay posiblidades de que arranque alcista en nuevo impulso. De cualquier forma estamos buscando confirmación de compra. Carlos
Long
by ccerezo11
10
ABC PATTERN IN EURUSD - WEEKLY CHARTHey Folks, Thought about sharing this idea to you all of what my plans are for the following months. More upside in the EURUSD and at some point we will finally have the bearish impulse down to the 78.6-88.6 retracement area from the last rally in Monthly chart. - Hey Chicos, Pensé en compartir esta idea de cuál es mi planificación para los siguientes meses. Más subida en EURUSD y en algún momento tendremos el nuevo impulso bajista hasta los niveles de retroceso 78.6-88.6 del anterior rally en gráfico mensual. Carlos
by ccerezo11
13