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Flat

3-3-5?Ive considered many times that the all time high of $44 may have been wave 3 , however there is also the possibility that we are now in wave C of a flat correction. I would like to quote from the Elliot Wave principle book " Since the first actionary wave, wave A, lacks sufficient downward force to unfold into a full five waves as it does in a zigzag, the B wave reaction, not surprisingly, seems to inherit this lack of countertrend pressure and terminates near the start of wave A" . As some other MJ stocks have done more zigzag patterns ,WEED did not. To me it seems to be fitting the shape of the flat correction as we see here. This is how i interpret the possible outcome nothing is set to scale.
TSX:WEED
by edwinv89
GoldCoin/USD (Goldcoin Token) Bye BUY GoldCoin ShortsGoldCoin/USD (Goldcoin Token) 05/12/18, 7:25 PM EST, by Michael Mansfield. Hi trader friends, I iope your weekend is a fun or fulfilling one! With practically all of the volume occuring on the up bars since the late March low, another good sized up move is in the cards onces this corrective wave is complete. Moreover, a with the large bullish volume on the up waves, a big down move is statistically less likely right now. But, we deal in probabilities not certainties, so it's still a possibility if the up move off the February low was was only a large corrective wave. But that certainly looks less likely now. Either way, uncertainty is why we always recommend the use of stop loss orders, not "HODLING" forever, in these digital markets. CLARITY: Without candlestick wicks, the price moves and waves look very clear to me: The January to late March decline was corrective. Conversely, the up move since the late March low looks very much like a bullish impulsive wave (uptrend, not up retracement). CORRECTIVE WAVE: This current correction is either a triangle, soon to be over, or a zigzag with one more wave lower to the Wave IV label. BUY CONFIRMATION: If 0.30 is exceeded on the upside, then the next upwave, Wave V, or Wave 3 of larger degree Wave (3) to the upside, will likely be underway. CONCLUSION: Once this short-term corrective Wave IV is complete, hopefully after one more push lower, then a Wave 5 up, or possibly 3 of (3) to the upside is likely. NEGATED: Should GoldCoin/USD break below 0.19, then this bullish outlook would be cancelled and GoldCoin/USD would likely fall back to below the March 2018 low. DISCLOSURE: This analysis is meant for educational purposes only. You trade at your own risk! Michael Mansfield CIO
GLong
by UnknownUnicorn1613901
1
Bitcoin(BTC) update : Ongoing flat correctionYesterday BTC price is seems like change to downtrend, but I think it's a part of correction and BTC is in a ongoing flat pattern. As you see in the chart, BTC can move to target $9300 point that touched before in correction (A) wave. At $ 9300 point the price will move upwards with the support of long-term downward trend line(a red dotted line). After this correction has complete, BTC can move to $14000, but this price trip may not be so kind. I indicated two areas where delays are expected to occur (# 1, # 2). In these two areas, # 1 can be breached more easily than #2, but in # 2, BTC can be take deep correction and turn into a downtrend. So, when BTC has reached zone # 2, we will have to watch BTC price changes carefully. Separately, I added a green area to the chart. This green area is a timeline where altcoins are expected to make meaningful price changes. I expect that altcoins will show an upward trend in this timeline.
BITFINEX:BTCUSD
by goyapro
AUD/CHF sellI bought this earlier on and closed it when I didn't like it. Achf would probably be a better sell option than Cadchf. It seems like it made a false breakout and wants to drive down, could possibly make a flat. Don't overload with commodity currencies though. Been in and out of them as they are in consolidation. We are waiting on news right now. FOMC...Cad news will be tomorrow and Friday. I will post GU again. That is a very interesting pair for today when you consider fundamentals and everything.
Short
by thillygoosth
EUR/AUD buyEA did make a long flat here as I was saying, broke out and made a 1 hr flag. It could potentially go up a lot. But you have to consider the probability of retracement and I personally will not be placing my stop under the low but be careful and I will only give it enough room for a wave 2 % retrace and will be manually trailing. It can potentially become a sell and extend down but as of now my analysis will have to be for a flat correction and continuation of 5 wave until something changes. Trading flats is risky, especially when they break the high like that because of the possibilities of what can happen, but I am EA buy again.
Long
by thillygoosth
Eur/AudLOL. EA looks like it did a big flat pattern. This freaking pair. GA just trapped sellers and is moving up. My audchf buy just turned into a sell setup on 1hr. Aud got weak tonight, but I think it would be better to catch EA off a flag though and see it do some kind of correction on 1 hr if you want to buy this breakout to make sure, because it did break the high and the aud could turn bullish, but may not. I am going to focus more on USD since that's what's paying me. Aud pairs are only getting on my nerves. I will let my good trades ride and look to FMOC tomorrow.
by thillygoosth
NEVERENDING CORRECTION! ;)Hello Traders! Glad to present Tengri's Traders prediction concerning Litecoin. Do not trade! Hard situation! Possible we see the formation of Ending Diagonal Triangle!? Subscribe to "Powerful Traders"! Everyday, nine Tengri's traders, creates professional analysis, specializing on Elliotte wave theory, Technichal analysis, Volume Spread analysis, Market Profile, Depth of Market, Order flow & Footprint. We trade in all financial markets, there are no boundaries or limitations. «« «« «« «« «« Hold Like! »» »» »» »» »» (If you have questions, comments, write, reply thoroughly!) You're welcome!!! Best regards, the team Traders "Powerful Traders".
COINBASE:LTCUSD
by POWERFUL_TRADERS
1
Such Currency, Plz pump; Dogecoin consolidation over?Dogecoin appears to be currently on intermediate wave 4 (blue) and is about to start wave 5. Wave 4 is a flat correction, which is a 3-3-5 ABC correction. Soon, Doge should start pumping again and hit the short-term target of 11k. Doge could hit as high as 1750 in the long term. Since cycle wave 1 (pink) and wave 3 are about the same length, wave 5 should extend. Then assuming a 0.618 retracement of wave 3 and a 1.618 Extension, we get a target around 1750k.
Long
by aoeuaoeu