Bitcoin is bearish now and many Traders don't see it !!!As you can see, the price has reached the ceiling of the ascending channel and also completed its five ascending waves, and now it is time for the ABC correction wave to begin. Also, the negative divergence in the MACD makes this signal stronger.
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Abcwave
SPY - Short: A Market Correction Could Be Coming in Sep 2020Base on Renko candle chart, we easier realize an ABC Correction Wave are forming after Elliott Uptrend Waves completed.
This correction should stop at $315 - $320, right the top of 3rd Elliott Wave. That is important Demand Zone.
If a big Panic Sell happen, it easy to take SPY down to $295 - $300.
To break this downtrend, SPY needs to close above $352 for at least 2 candles of D1.
This scenario, in my opinion is only about 15% likely to happen.
Sit on hands and watch the trend.
Disclaimer.
P/s. I hope I'm wrong.
Chevron Corp (CVX - NYSE) - ABC wave pattern Chevron Corp (CVX - NYSE) has completed WXY in double zigzag pattern from bottom as indicated in chart. It dropped in impulse as wave A and correcting up in wave B, which might take 2-3 days to complete. Thereafter C wave will resume the fall in price action. CVX and XOM are about 22 - 22 % holding value of XLE etf, which drag it down as both has C wave down within 2-4 trading sessions. XOM & CVX have same pattern for C down sell after wave B over.
BTSBTC | Elliott impulse waves and Fibonacci retracement basisPrice action followed ABC correction wave until full consolidation and bounce from Fib 1 support level.
Middle-term timeframe analysis reveals a start of 5 Elliott impulse growth waves. Such early entry provides a great opportunity to earn profit throughout the rest two ascending movement
The forecast is enhance with continuous Fibonacci retracement levels tests which also provide us a basis to increase accuracy of expected price levels at each stage of Elliott waves
Automatic signal is shared in the premium channel and applied through Binance API
GBPUSD SELL. Complete analysed chart.Hello Traders! This is complete analysed chart for you. Hit like for support.
As we can see there is a failed breakout because this wave is supposed to not cross wave (b) and go downside to form wave (c) which will be equal or larger than the size of wave (a). Fibonacci worked great as always.
Also checkout other fully analysed charts below.