BTC Update 25 MAR. HUGE critical area.Imminent approach to $8400-$8470 is coming for bitcoin.
After that, it will enter a critical area of huge proportions.
Basically it can go anywhere from there. Personally, I WILL stay as far away from that area as I can.
There are three major scenarios at play here:
S1) GREEN ELLIOT WAVE
It will reach 8470$ and bounce back up 'thus confirming the GREEN EllliotWave
Must barely touch critical area no. 2)
S1.1) OR it HITS $8600 area and bounces dwon again,'thus forming scenario S3)
S2) YELLOW ELLIOT WAVE
HUGE Second EW to be made. Can start anywhere in critical area no. 2.
S3) RED ELLIOT WAVE
This might just be another ABCDE correction, which is forming a descending triangle.
Higher bounceback area might produce a ascending triangle, but it would be too messy to chart.
Also might start in critical area no. 2)
S4) ALL ELliot WAVES FAIL. (highly unlikely scenario).
And we are returning to $7300
S5) Not everything fails and yellow EW bounces back at $7800 to make a nice 3rd WAVE.
(but I doubt this one as much at S4 )
Critical Area No. 1 is where the fun starts. Either will stay in triangle trend, or it will break to form Elliot Wave.
Make sure to follow me here, for more updates on this chart.
Critical
FTSE 100:UKX On Critical Support: Key Day Ahead MondayFTSE 100:UKX Critical Support and Key Day ahead for FTSE
At the beginning of the year FTSE was forecast to hit the
upper parallel and a maximumhigh at 7818 before coming off
again. It duly hit the upper parallel spot on butthe high was a
few days earlier than anticipated and the eventual high was
reached at 7778, some 40 points shy of maximum likely near-
term upside. Since then it's fallen all the way back its start
point for the year. Up 10% and back down 10% in 6 short
weeks. The action looks unlikely to stop now. In fact it could
be just beginning. Probably the greatest trader who ever
lived, WD Gann, told us to measure time cycles from high to
low and low to high as well as high to high and low to low and
look for potential changes in trend as these hiddden cycles
repeat themselves down through time. Previous cycle highs
identified the exact date of the high in 2007 as well as the
subsequent high reached in April 2015 just at the point that
markets began a 10 month 20+% correction (for more details
please PM) . This cycle marks the period from 10.03.09 major
crash low through to the next major cycle low on 06.03.09.
From major cycle low to low is 9 years ...which now brings us,
after a 9 year long bull run, to the coming 23 to 27 days,
culminating in the anniversary dates between 3rd march and
10th March 2018...
FTSE is already teetering on the brink of critical support at
7092. It has to cling on here on Monday for any failure will tip
this index into bearish territory and trigger a short back
to 6868 at least - and then if this level in turn gives way back to
6680-6637. Beneath here the next major support potential
lies at the lower parallel and below here at 5777.
So if 7090 gives way on Monday by more than 10 points look to
short this index with stops above 7099, targeting 6870
initially, then the 6680-6637 range if 6860 fails to hold during
Monday. It's quite probable that should 7090 fail come Monday,
this Index will fall away in stages to test the lower parallel at
6004 on around 5th March - and only then bounce away to the
upside again.This will present some wonderful shorting
opportunities along the descent. However, in the very near
term it's likely that contrarian traders will look to go long
here, simply because the stop is so close (20 points away
maximum now) but ready to reverse short as above if 7090
gives way by more than 10 points. Time, as always, tells.
BTC prediction As you can see, BTC has just finished a classic ABC correction move following a much larger 12345 Elliot impulse down in a bear trend.
I expect some sideways consolidation and a nice battle between bulls and bears.
It's hard to make a solid prediction up versus down at this time, but what is likely is whichever bias is chosen it's really going to take off quickly.
If BTC moves up, it will reach another critical decision around the 9.5-9.6 k range. Bulish movement up beyond here would tend to confirm an official reversal. It could also be rejected from this level back to its dynamic sloping support.
If BTC moves down, it could restart a new bearish impulse supercycle downward, testing the bottom to form U-shaped double-bottom or perhaps a more violent lower-low with a V-shape.
Time will tell! Either way, should be fun to watch the King as usual :)
This is for education and speculative purposes only and is not meant to serve in any way as investment or trading advice for any financial means.
AUDUSD - ripening for a shortAUDUSD is spotted on 4 time frames. Importantly the big bearish pressure comes from the weekly.
1. There is some slight weakening of the bullish rebellion on the weekly and daily.
2. With the big wave of bear pressure visible on the weekly, I estimate a 51% probability to the down side on the daily.
3. The bulls may not be allowed much more wriggle-room on 4 hourly
I say what I see - at this point in time. History may prove me wrong as the markets are the ultimate judge, jury and executioner.
All traders are free to adhere to their preferred methods of analysis and trading.
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Disclaimer: Dance with danger but at your own risk. As Akil Stokes once said, "You're to blame" LOL. In other words, take positions if you wish but your losses are your own. I make no assurances that this analysis will lead to a gain. I accept that 80% of my analyses will be wrong and therefore an 80% loss rate. You have been warned/told.
USDJPY before NFP 6 March 2015Everyone waiting for NFP? Yes
USDJPY now forming 3 drive pattern, likely will fall down to nearest support at round number 119.400 something. But we need to be very careful making decision here because this pair currently will bounce a bit high before drop down with NFP (bad data forecast).
Maybe there will be some spike to the 120.500 level to test the critical level there tonight before the free falling. CAUTION, very wise money management needed here as we still can't see clearly the direction of this pair.
Make sure you put a ideal stoploss and use your money management to control this unclearly situation. Mostly because everyone wait for NFP.
Happy Trading and NFPing !