Get started

Elliottwavebelgium

ZCASH - At decision point - Going either below 160 or above 300 ZECUSDT - Price is now at the usual termination point of orange wave iii so a small wave iv consolidation could be seen soon. BUT it's also at the usual termination spot of a Flat wave B ! So, be careful, if price drops and invalidates the impulsive wave, it's best to get out and wait for the potential Flat correction to end, which could be around the noted pink zone. If on the other hand we don't see a slow down and price cuts through this potential resistance zone, expect it to go for the 1.618 projection level at 1000.
ZLong
by ElliottWaveBelgium
Nasdaq - Patience !We have to look at current price action as a potential WXY correction since wave (x) retraced "only" 78.6% of the prior 3 wave decline. Right now we seem to have a 5 waves drop which could be wave a of the higher degree wave (y). Price is now at a potential support zone from which we could see a bounce and retracement of current decline, after which, another drop below support could be seen towards 12600, where we have to find support if the bullish narrative is to remain our primary outlook. Notice also that we have another potential Head and Shoulder pattern forming which if correct should take price towards 12200 BUT if price goes according to the above statemen,t down to 12600 and rallies back higher, the then failed H&S would again be a great bullish sign !
U
by ElliottWaveBelgium
1
Bitcoin - Resuming uptrend one more time - 67k/69k TargetBitcoin - Could be reversing now as it bounced off the 50% retracement level of wave 3 and the 161.8% projection of wave 2. So, as long as that 53270 low isn't breached, we should continue higher here. On the 5min chart on the left, it looks like we are finishing an impulsive move, therefore, if you're not in yet, you can buy on the pullback. Look for potential support at the Fib retracement levels but I think the most likely one is the 38.2% retracement.
BITSTAMP:BTCUSDLong
by ElliottWaveBelgium
3
GPS - Getting ready to break out of a 20 year base ?!I'm late to the party here but we have clean price action and wave count, we can therefore take advantage of the smaller mouvements not only the bigger ones. In this case, I'm waiting for the orange wave iv pullback to start initiating some longs that could yield some 20%-25% without much risk. Red wave iv will be the more interesting move afterwards. Btw this stock has been consolidating since 2000 and could get ready to breakout ! And you know the saying, the bigger the base, the bigger the breakout ! So, definitely keep this one on your watchlist and even think about putting it on your longer term portfolio. Another very interesting aspect is that Dividends could come back soon!
GLong
by ElliottWaveBelgium
ZM - Getting ready to rally again ?Since price topped October last year, I've been on the sideline with my clients and put this one back into our watchlist a few weeks ago. Now it seems about to have finished a 3 waves correction wherein wave B is a Triangle. Triangles precede the last actionary wave in the pattern of one larger degree. Simply put, it signals that the end of the ABC correction comes after one more move to the downside, in this case after wave C. This gives us a reason to look for a reversal point. That reversal zone might just have been found as price bounced off the green 52week EMA and the orange anchored VWAP. Notice also that price, although it went a bit below the 100% projection of wave C compared to A, is now holding above it. Same for the 23.6% retracement level of wave 3. So, for now, as long as price doesn't go below 309, I will look to buy and hold this one towards 441 at first followed by the ATH at 588. If price does go below 309, I won't dismiss my bullish view but I will stop buying until I have reasons to believe that red wave C ended and price bounced off a potential reversal zone.
NASDAQ:ZMLong
by ElliottWaveBelgium
HD - Great stock with high dividends! Buy and thank me laterWe have a clean 5 wave impulsive move from the March 2020 low to August, followed by a clean 3 waves correction . Classic chartist among you can see a clean Bull Flag . I will maintain my bullish outlook as long as price doesn't close below 247! Trade it according to your own methodology. Personaly I'm already positioned and will look to add a bit on a pullback and once price breaks above the channel. My targets are 325 at first, followed by 380 and 500 next but it will probably take some time before reaching that level. Anyhow, Risk/Reward is a good 1/2.5 if buying now and going for the first target only, so I see no reason not to look to buy this stock.
NYSE:HDLong
by ElliottWaveBelgium
7
ZI - Ready to get going It's been a while but looks like it's getting ready for a move higher now. But, if this updated count is to be correct, we will see only one push higher before seeing it pullback again, since it seems we got a Triangle here. For those among you who are not familiar with the Elliott Wave Theory, know that Triangle corrections occur in the position prior to the final actionnary wave in the pattern of one larger degree. Meaning, we will see a wave C higher and then correct most of, if not all, of this ABC rise. Note that wave C often is equal to 61.8%, 100% or 161.8% of wave A. This gives potential targets at 55$, 65$ and 85$. I don't think the 55$ a big hurdle to overcome, we have to primarly focus on the 65$ which is also the all time high for this stock.
NASDAQ:ZILong
by ElliottWaveBelgium
3
ZI - Continuing higher if support holds, else down to 35/38We're in a decision point here. If support holds , we should see a small base form and price continue to go higher , in which case you can buy on a break out of the consolidation. If we do break below support , chances increase for this to be a Flat correction and should therefore see price go down to the marked support zone. Here's an idealised Flat correction Note that here are different types/names of Flats depending of where wave C end. Look it up if you want to learn a bit more.
NASDAQ:ZILong
by ElliottWaveBelgium
1
EURUSD - Consolidation before resuming higher one last time !EURUSD - With my memebers, we got out of this pair on 17th December because I thought pink wave 5 of orange wave iii was done and we met our target zone. Seems like I was slightly off since we got an Ending Diagonal which now came to an end it seems. We now should have started potential orange wave iv which might unfold as a Triangle which is usually the case for waves 4 but it can very well be any other corrective pattern. Support is around 1.2130 here at the Diagonal wave (2) low down to pink wave 4 low at 1.2060. Intraday you can look to short this but if it's not your style of trading, simply stay out of this until orange wave iv comes to an end. FIY : Waves 4 are the trickiest and are a real pain to trade. So, best is to leave this pair alone because it will only frustrate you!
by ElliottWaveBelgium
1
Ethereum - Levels of interest for this year!Just like for my previous post on Bitcoin , here you have the levels of interest we have to keep an eye on for this year. Right now we're approaching the all-time high so expect some resistance. The best thing to do right now is to take at least some profits and let others fight for this zone because don't forget, profits are yours only after you take them! You can then buy back in again once we see a breakout. FYI : Long term I remain very bullish cryptos but not because I'm necessarily a believer or Hodler but simply because price is telling me that there are a lot more gains to be made in the coming months and years. But, short term, I take profits and often close most of my positions simply because I don't want my money to sit doing nothing when there's a big correction coming. And even if price keeps on going higher when I get out, I'm not necessarily bothered because I can simply buy back in again. I rather miss 5%-10% of gains rather than lose my sanity and hair holding during a big correction.
Long
by ElliottWaveBelgium