EW
Volume Based Analysis Showing Gold Skewness is forming "Spring"The characterized as "Spring". It is called so because it has the energy of a
compressed spring. Very often is a predisposition to "Impact Trend". The pattern "Spring" has a
strong accumulation of the volume at a low price volatility. Location necessarily near the border
of the channel or important levels.
BTC wants a 5th waveAfter a impulsive move down BTC overextended and bulls bought it back up immediately. 3875 resistance which is also the bottom of wave 1 was rejected. This means that another wave down is likely. However, fifth waves can be shorter and a double bottom or a higher bottom is possible (truncated fifth). My first target is the bottom of the parallel channel & the .61 fib retracement of the leg up. I will be closing half of my position here. If BTC overreacts again the 5th wave could go extended but with all the buying pressure below the channel i dont see that happening very often.
Other possibilities is that we just finished the ABC correction and this is our leg 1 up with more up to come, but i find it difficult to make this scenario work in the current price action.
Another possibility is that the surge upwards was a X leg, which happens inbetween complex corrections. after this usually follows either a triangle or another ABC taking us even lower. The X leg can go to up to 4220 before initiating the next correction. My stop loss is above this level.
crude oil elliott wave count , short entry level around 48.64eliiot wave
trend is bullish long term
bearish short term
5 waves completed this idea explains that crude oil has completed 5 waves and should go to below 48.50 level !
3 waves completed this idea shows that gold has completed 3 waves and ready to retrace back to below 1330 level
BTC harmonic wave trend clear !looking at price action at the last bullish wave , made me suspicious of this market , and why this impulsive trend ended up early
having thought about that , i had to look it up all over again but with more options to analyse this trend
the final conclusion that i came up with is that this trend keeps making an ABC - up and ABC down over and over
which resembles a harmonic trend wave
and now the market seems to be doing an ABC down to make the wave (ii) before making Another ABC up , which is going to be the most powerful trend yet so far in BTC as wave (iii)
i will be taking this bearish trend step by step on a lower time frame , to get the profit that we need !
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second long trade opportunity !!!this idea shows that 3 corrective waves has already taken place , and bullish continuation should take place anytime soon
bullish trend has already started , so are you ready ?this idea shows that we are in the beginning of wave (3) bullish trend , so enjoy the run
