Get started

Ewcount

I would recommend heeding this I'm talking about near-term price action here, so if you're playing near-term options this is for you: It's about to get even more volatile as we establish a bottom here, expecting the following road map - black solid path: - Run to 383 today or tomorrow (6/22-6/23) - then drop to 372 1 day after it hits 383 (6/23-6/24) - then run to 390 1-2 days after it hits 372 (6/24 - 6/28) - then drop back to 360s (will have to update time frame here conditional on the time it takes to see the previous 3) - after that it will run to 400s No Cap. Good luck... not financial advice but likely prophetic message.
AMEX:SPY
by JerryManders
16
SPX Shortsqueeze Fiesta? My long trade.Hi traders! SPY / SPX is at all-time highs and traders are beginning to short. As we have seen in the Ethereum run-up, this behavior can lead to a short-squeeze fiesta. Ironically, more shorts lead to higher highs, until the very top - from where price finally breaks down for good. Have we made the top? We don't know, so we can focus on smaller timeframes and take one trade at a time. What is happening? On the 4h we see a difficult formation that is interpreted by many analysts as an ABC correction of the downtrend. However, on the subwave we see a slight violation of the wave C ratio. We can now assume that we might be in a wave 3 of 5, and pre-market price confirms this bias. Where do we go from here? If price goes higher, my assumption is that SPY will reach target 1 or target 2, which I have marked with a red box. How to trade it? A short from target 1 or 2 can be an opportunity for a scalp. Assuming that we are in a wave 5, it is safer to long. If price reverses on target 1, the green box (.382 fib reversal) presents an interesting level, assuming that the corrective subwave 4 is similar in magnitude to subwave 2. Should price reverse from target 2, we can easily derive an entry with a new fib pull, looking for the deepest possible level (.5 fib). What if not? If price breaks down from here, we can assume that the downtrend is intact and start looking for pullbacks to short into the trend. In that case we are in a motive wave 1 down and short once wave 2 has retraced. Happy trading!
AMEX:SPYLong
by UnknownUnicorn12250317
XRP - detailed elliot wave count (5/14 - 6/19) and projectionsKRAKEN:XRPUSD Let's look at this potential elliot wave count, beginning 5/14/19 thru today 6/1/19. Note the RSI bearishly diverging, setting up sizable corrections. These are some of the signals that catch my eye, prompting me to enter high probability short positions, with tight stop losses. My projected targets: This is NOT financial advice! MY KEYS FOR SUCCESS: Look to trend lines for support and resistance and WAIT FOR CONFIRMATION. When I review a chart, I start on higher time frames, and work my way down to the 5 min chart. It's VERY IMPORTANT to keep the bigger picture in mind. Always. Diagonals have proven to be very reliable signals for me. ALWAYS have a stop loss planned out, and manage your positions! Personally, I've found success starting with 1/2% to 1% stop loss with AT LEAST a 2:1 win ratio. When in an active trade, I will look for waves and patterns to adjust my stop loss to PROTECT MY PROFITS. Once in a trade, I NEVER increase my stop loss beyond 1%. When (not if) I enter a bad position, I'd rather lose 1% and re-enter in a better position than increase my loss potential. Although I play both, short positions appeal more to me than longs. I am bullish long term. Like, leave your feedback, and good luck trading!
KRAKEN:XRPUSDLong
by sucmabolsac
FCPO: Hourly EW Count - Dec 12th 2018Recent bullish momentum was short lived after FCPO failed to break the 2055 - 2060 zone. As of now, FCPO seems to trade within a contracting triangle. Our primary projection of an expanded triangle looks bleak, but valid nonetheless. With no fundamental element to entice market to climb higher, the last bullish leg (wave c of (e)) of the expanding triangle is likely to develop under the pretext of contract roll over. It holds true, if and only if, FCPO is traded until the end of this week within the range, bound by the upper and lower lines of the converging triangle. That being said, it is essentially important to note that a symmetrical contracting triangle is a continuation pattern, so a strong bearish momentum can fully develop right off the bat. We will take a closer look at the following area as market unfolds. 1965 - 1970 #analysis #12Dec18
MYX:FCPO1!
by eches
FCPO: Hourly EW Count - Nov 30th 2018An expanding triangle is anticipated. Price needs to travel beyond the 2078 price level to ascertain triangle formation. Wave c of (e) is likely to terminate between 2110 - 2125. Any strong violation of EW invalidation level @ 2137 could suggest the next major downtrend may be limited to a certain extent. Market is then expected to embark on another (probably final) journey further down south. With the burgeoning stockpile and lack of demand, it is interesting to see how market reacts at the weekly demand zone between 1863 - 1943. #analysis #30Nov18
MYX:FCPO1!
by eches
FCPO: Hourly EW Count - Sep 7th 2018fcpoLast friday, market failed to seal off completely the 10-tick gap down that was formed early in the session. In fact, it was finally closed @ 2264; suggesting the confluence area between 2250 and 2260 may already have weakened. With the current situation, the correction phase may already have peaked at 2203. To reflect with the current development, we have downgraded any bullish attempt of wave (5) of © of (e) of (4) into an alternate count. Our new primary projection is based on i) the new resistance area (pinbar) that was recently created around 2277 to 2286. ii) the extreme confluence area (2300 - 2310) that was tested twice (barely though) Primary count #1 Price may respond to the confluence area (2235 - 2242) before resuming to move downwards. Primary count #2 Price will quickly trade lower; breaking the lower channel line as well as violating the EW invalidation line (alternate count). Alternate count We cannot rule out completely a renewed bullish attempt unless the lower channel line is broken or the EW invalidation level @ 2238 is violated. In fact, the alternate count is quick to materialize if FCPO is opened above the confluence area (2275 - 2286) through a gap up (either morning or evening session). P.S MPOB report is expected to be released this afternoon We will see what market offers us today. #analysis #12Sep18
MYX:FCPO1!
by eches
FCPO: Hourly EW Count - Sep 7th 2018We are currently looking at the development of wave c of (4) of (c). Under further scrutiny (TF 15), the 5-wave structure is hardly seen (it hasn't fully developed). Depending on how it unfolds today, the correction wave may terminate around 2265 – 2272 or around 2250 – 2260 area before it starts to rally again. Apparently, wave (3) of (c) is an extended one as it terminated @ 2.618 extension. With that in mind, we assume wave (5) of (c) has an equal length of wave (1) of (c). Based on the analysis, FCPO may gain bullish momentum again but the rally will be limited by the confluence area (2300 – 2310). At the end of the day, we will see either a truncation or a small overshoot of wave (5) of (c). Upside limit As we can see, the upper channel line that governs the extreme high of wave (4) has been diverging from both confluence area (2300 – 2310) and the invalidation level (2324). If FCPO is able to touch the upper channel line or the invalidation level is violated, it may suggest that the next major downtrend will be limited to a certain extent. We will see what market offers us today. #analysis #07Sep18
MYX:FCPO1!
by eches
FCPO: Hourly EW Count - Sep 5th 2018Yesterday, FCPO has effortlessly bypassed the 2260 & 2265 key levels as well as the confluence area (2265 – 2278) through a 15-tick gap up. Market then edged up steadily throughout the day towards the psychological level @ 2300. Hourly EW Count Structure wise, the strong momentum from 2214 to 2301 is a clear manifestation of wave 3. We should see some retracement of wave 4 after touching the 2300 price level before it struggles to move back up again as a wave 5 (it can be in the form of compression or a complete truncation). Wave (4) is expected to terminate around 2300 – 2310 with extreme high is governed by the upper channel line. Highlights It is worth to note that FCPO has now reached the extreme high area of wave (4). The following are the things that we should be aware of. 1. EW invalidation level (daily/weekly) @ 2324 2. Weekly chart clearly shows that market is moving in a corrective fashion (within deceleration channel) and has now touched the base channel. 3. Confluence area between 2300 – 2308 5. Dynamic EW upper channel line (today’s highest point on hourly chart would be 2320) This is the last bastion for the downtrend. If market is able to bulldoze this extreme area and strongly violate EW invalidation level @ 2324, a recount will be required. We will see what market offers us today. #analysis #05Sep18
MYX:FCPO1!
by eches
FCPO: Hourly EW Count - Sep 3rd 2018Overall, FCPO has almost reached the end of wave © of (e) (4) ( primary count ) or the end of wave © of (ii) of (5) ( alternate count ). Market can now, at any time, slide all the way down to find new low assuming no complex correction or no truncation along the way. That being said, we still reserve our opinion that FCPO may have not peaked just yet. From EW point of view, wave © of (e) of (4) or wave © of (ii) of (5) should develop into a 5-subwave structure. Apparently, it is a 3-subwave structure for the time being. Primary Count (black) Triangle correction - Wave © of (e) of (4) terminates around 2268 - 2275 Alternate Count (green) Running flat correction - Wave © of (ii) of (5) terminates between 2250 - 2265 Upside limit Extreme high of wave (4) is capped at a confluence area between 2300 – 2310 and is always governed by the dynamic upper channel. Any strong movement above this area will require a recount. Even though it is fundamentally and technically a far-fetched idea at the moment, we reiterate this for the umpteenth times to make sure we cover all bases. We will see what market offers us this monday. #analysis #03Sep18
MYX:FCPO1!
by eches