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Elliottwavecount

Ethereum Macro Analysis - Consolidation And Move UpEthereum Macro Analysis Looking at BTC pairs, Ethereum is currently lagging behind the market leaders Litecoin and BNB, but it will come around. Alts Season is coming with Ethereum usually peaking after Bitcoin. Litecoin will likely reach new highs first, while Bitcoin is consolidating. Key Upcoming Events: - Jul 22 BAKKT Test net launch - Aug 6 Litecoin Halving - Next Week - Facebook Libra Stable Coin Presentation, backed by Visa and other majors Based on Elliott Waves, Pitchforks, Fibs and S/R Levels/Zones, Key Targets: Target 1: 450 Target 2: 550-600 Major Resistance: 380 Ethereum has cleared only the first target from previous analysis, unlike overperforming Litecoin that broke both levels. We are currently trying to cut through the last HVN on the way up - consolidation below a major resistance is bullish. Prediction: sideways consolidation, possibly triangle, then move up. Not an WXY, not wave 4 - will likely slice through 380. No major correction till Aug 1, a break of parabolic trend with correction to prev HVN 220 is possible before the next major move up. Note: the whole wave structure could be a series of running flats which is indicative of an up trend and imply higher targets. Good Luck! Trade carefully! Not a Financial Advice.
BITFINEX:ETHUSD
by RagingRocketBull
Litecoin Macro Analysis - The Big Move is ComingLitecoin Macro Analysis Looking at BTC pairs, Litecoin and BNB are the strongest coins that currently drive the market and are almost solely responsible for the up trend. Key Upcoming Events: - Jul 22 BAKKT Test net launch - Aug 6 Litecoin Halving - Next Week - Facebook Libra Stable Coin Presentation, backed by Visa and other majors Based on Elliott Waves, Pitchforks, Fibs and S/R Levels/Zones, Key Targets: Target 1: 200 Target 2: 250 Major Resistance: 180 Mode: BTFD Prediction: We're about to start the next phase of a parabolic trend. No major correction till Aug 1, sideways consolidation possible. Jul - green month, Aug - red month, deeper correction that will be bought up. Good Luck! Trade carefully! Not a Financial Advice.
BITSTAMP:LTCUSD
by RagingRocketBull
This is why you suck at identifying Elliott Wave channelsIf you have read the holy bible of elliott waves, you would know that Elliott wave guidelines suggest that you: 1. draw a straight line from end of wave 1 to end of wave 3 2. draw a parallel line from the end of wave 2 (parallel to the line we made in 1.) 3.if end of wave 4 is not on this line, adjust projection for wave 5 by drawing a parallel line to the line connecting end of wave 4 to end of wave 2, at end of wave 3. 4. Extended may break the channel :) Note: there is no mention that the smaller waves within these waves have to be inside the channel. only the starting point and ending point are considered.
BITSTAMP:BTCUSDEducation
by RyanPal
Bullish mood at EURUSDFX:EURUSD Hello Tarders, In my previous post, I supposed that 13 months long correction finished and new EWA cycle has started at EURUSD and today chart confirmed my idea again with unbelievable daily and weekly bullish candle, which confirm that we gonna go to bullish trend :) Chart finished to develope 1 and 2 waves of new Intermediate cycle inside 1 wave of Primary cycle and from 3 April 3 wave of Intermediate cycle started to develope itself on the chart and I expect that it will grow till 1.16000 - 1.17000, somewhere in those area 1 wave of intermediate cycle was developing from 8 March till 20 March (13 days Fibo), 2 wave of Intermediate cycle was developing from 21 March till 2 April (13 days Fibo), so I expected that 3 wave of Intemediate cycle will be developing from 21 to 34 days and chart will reach target 1.16000 - 1.17000 till 6 May maximum, cause it has started on 3 April 2 wave of Intermediate cycle got a really sharp and deep structure it almost finished my calculation, but it didn't penetrate begining of 1 wave, so caculation still correct and we can conclude that in according with principle of alternation inside EWA cycles 4 wave of Intermadiate cycle will get horizontal form and won't go down lower than 1.15000 Also today the chart did the break out of previous bearish trend line that confirm bullish mood of the market This is historical trend reversal in trading, cause US dollar gonna fall down really hard while next year and this falling just started now :) Also this is so symbolic that 1 and 2 waves of Cycle were developing 13 months each and 1 and 2 waves of Intermediate cycle inside 3 wave of Cycle were developing 13 days each Wish good profits to everyone !
Long
by Yaro7lav