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Impulsewave

Aud/JpyAJ is in an impulse wave and I have been taking a close look at it. It is about to run into the 1.618 extension of wave 1 at the 84.60 level, which also lines up with equal length of the large correction it just made, definitely a level price may react from. So, considering everything I have looked at, including measuring the smaller impulses within this impulse, if AJ does some type of wave 4 like correction in this zone (which price levels are labeled on side bar) without breaking up and breaking yellow trend line, I would look for another wave up possibly even extending up to that 1.618 extension. If it were to continue this breakout, I would look for a deep wave 2 retracement from that 1.236 extension zone above. The way it is measuring, I just feel like that yellow trend line (top of impulse) will be useful. We can go into a combo pattern that can provide a nice sell or even continue down long term, but I have to consider it to be in an uptrend until I get higher time frame sign of reversal. We'll probably get a sell from the 84.60-85.00 level but it may be short lived. It's at a major level and supply zone right now and there are 2 ways of thought. Some may be looking to take it back down for a bigger "X" wave, which is possible considering summer, but it doesn't look like that to me. In summary, very nice buy if we get some nice corrective structure, be careful with trying to hold the sells. I will try to update you on it. It's much easier to explain and understand if you just watch when I do my live you tube streams. We might wind up with something that gives us an overlapping diagonal that will be tradable both ways....
by thillygoosth
BTC ... An open mind to enlightenment!Dear TV friends. Most of those following me will know I have been showing this path for over 1 month. I've adjusted here and there, but the perspective remains the same. For those new followers, please go and look at my previous ideas and please don't forget to like the idea, if you agree! I'm going to stick my neck out and say waves do not fail, at least not very often. The challenge with waves is interpreting them. Is that little rally considered a wave, or is it just noise? I believe most of the confusion comes when we mix a wave from one time frame (say one that counts on the 15 min chart) with another (one that is much larger on the 4h or 1 day chart). You see a grand wave on the 1 day, will be made up of smaller impulse and correction waves. Generally when I'm on a time frame, I like to see that the waves I count are about the same magnitude of a previously completed wave. OK so now for some TA, based on of course EW theory, as well as Fibo levels and Ichi Clouds. You will see two grand waves, one in Red and one in Blue. The Red one paints a BEARISH scenario, and the Blue one a BULLISH scenario. To summarize (but see previous ideas for more detail), the red wave assumes from the 20k high we started a triangle wave, and now we are forming the final wave E to the rock bottom price of BTC going forward. The blue wave assumes we completed a running flat ABC correction to 6.5k, and we aren't going there again ... and in fact we started wave 1 of a grand impulse from 6.5k to 10k, and this is a normal retracement wave 2. Wave 3 would therefore be an exciting bull run up. Hard to believe in this bear market, eh? But don't forget how less than 10 days ago we were in full bull ... and many believing we could go to 11.7k. So remember I said, grand waves are made up of smaller waves. The GOLD waves I show are the waves that forecast the RED grand wave, and the PURPLE waves I show are the waves that forecast the BLUE grand wave. OK, so here's how I see things possibly going: BULLISH SCENARIO (BLUE/PURPLE). This assumes we have completed an impulse wave down from 10k to 7.9k) and we are done with Blue Grand Wave 2 ... that means Wave 3 is starting, and if that is the case ... you probably don't want to miss it. It's possible that the impulse still has a little way to go to 7.7/7.8k, as I know many people are waiting for that price point. BEARISH SCENARIO (RED/GOLD). This assumes those bumps up and down on the purple wave is just noise, and BTC has only completed a long gold "a" wave now (from 10k to 7.9k maybe down to 7.8k). That Wave A correction is made up of a smaller impulse wave (the purple one). A rally can be expected to form the gold "b" wave. This will eventually stall and start the gold "c" wave. That would take us down to the bottom of the triangle we have tested at 6k and 6.5k ... and at the moment the target is 6.9k - 7.0k (see bold green trend line at bottom). But WAIT, there might be more! Wave E's often extend ... and what if the golden ABC correction is actually a golden impulse wave (5 waves)??? Well then, we could go much lower. The gold impulse could go, as label, from (i-2) to (ii-2) to (iii-2) to (iv-2) to (v-2) and take us down to where I see good support at 5.4k! Note that (i-2), (ii-2), and (iii-2) are the same as the gold ABC, with a continued wave iv and v. So what do we watch out for? Well if this is the Blue Wave, you don't want to miss out on that bull run. So the question for me is how high will BTC climb in the next rally? If it cracks 9k, probability goes up (but still not guaranteed)! If it fails, we confirm the red scenario, and then the question is how low? I have two levels in mind 6.9k and 5.4k. Again, you probably don't want to miss out on the bull action which could follow! Remember, only a fool relies on one potential scenario! Do not make investment decisions with this information. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
6
Bullish PotentialThe rally from September 2017 low to January 2018 high is clearly impulsive, no much overlapping internally, making a very strong upward move within a relatively short period of time. What really catch my eye is the price movement after it peaked at 0.72 on 5 January this year. We can roughly count the decline in 3 waves. It retraced exactly 61.8% (a very common retracement level for the second wave within a larger 5-wave impulsive sequence) of the previous impulsive rally (also near the end of blue wave iv). If the red (i)-(ii) count is correct, we should expect another strong move to break the January high in the near future. For the short term, another close above the recent high of 0.5 would support the overall bullish count and would probably signal further upside potential.
ASX:BOD
by wsbza
BTC - Down you go! Please, please tell me how far is your low?Colleagues. So, I doubt there are many people left who would say BTC is not in a correction after tapping out at 9.99k. Bitcoin has broken the ascending channel from 6.5k and this confirms, it is correcting. This simplifies things a little. On the grand scale ... look at the daily chart, and refer to my previous ideas. Red Line you see on this chart assumes BTC is in a big triangle wave, and this is the start of Wave E. Wave E could take BTC down to around the 6.9k mark with a possible extension below that. Blue Line you see on this chart assumes BTC has completed a running flat ABC correction to 6.5k and is now in a nice impulse up. 6.5k to 9.99k would be wave 1, and it is now forming wave 2. If that's the case ... I can't wait for wave 3, the bulls will have fun with that one! Now on the smaller time frame ... look at the purple waves. Bitcoin has gone through a 5 wave impulse down from 9.99k to 8.98k, almost precisely 1000 points (and also note wave 1, 3 and 5 are each about 500 points! Almost looks like this was planned ... lol). BTC has now started a correction ... likely an ABC. BTC is busy with the first wave. Where will BTC take us? ... I don't know for sure but I'd say 9400 to 9600 is a good target range right now. After that, Bitcoin would likely need to correct again ... this is where it gets questionable. Here's the crux ... it looks like the waves are lining up to form a right shoulder of a much bigger H&S. It could also complete on wave 3 of an impulse down, and wave 3's are normally fairly aggressive. That could provide the strength to take us down, with wave 5 completing somewhere in the 8000 - 8500 territory. Will the H&S complete? Now here's the really good news ... if it does, it certainly would make for a healthy correction on the daily chart. The current 1000 point chart is but a spec on the daily ... it isn't good enough in my opinion. Going to 8000 to 8500 territory would satisfy a lot of buyers. Then BTC could start that grand WAVE 3 (see blue line) up ... that I think has the potential to end the bear cycle! I keep my options open. Three possibilities right now: (1) Bitcoin follows the blue line after a bounce from the 8k to 8.5k territory and we start a nice wave 3 impulse ... this is the one that seems to fit best with the projected EW waves I have shown. (2) We return full bear and hit the bottom of the triangle at 6.9k. That would mean BTC needs a nasty impulse down after this ABC completes, that would blow right through 8k. (3) We go up from here .... 8.98k was the low ... I'm not putting much into this strategy. Right now I'm long on ETH, and will likely sell once this ABC correction is over. If it does continue to go up (option 3), I can easily buy in and not miss much. If option 1 or 2 happen, I'll be happy I sold. I have to be open to all these scenarios! Remember, only a fool relies on one potential outcome! Please do not use this information for investment decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
9
ADA Off To the RacesSo, Last time I had projected a bottom of our Wave 4 Correction at the 0.382 Fibb, well we're so boolish we didn't even make it there!! Remember this only happens around 15% of the time. So now we are targeting the top of Wave 5 and the completion of our 5 Impulse Wave Structure. I don't quite have a Subwave count yet because there isn't enough data. If you say "wait but i see 5 waves up already!," Well, you're wrong. Don't forget that Wave 4 cannot retrace into Wave 1 territory, and if that little structure were to be 5 waves it would violate a primary rule of Elliot Wave Theory. Targeting the 3.618 Fibonacci Extension of Waves 1 and 2 for Wave 5 since Wave 3 came extremely close to hitting the 2.618. Which would make 3.618 a 1-1 of Wave 1. Which is extremely common when Wave 3 is the longest. Target for Wave 5 is 0.00004460 BTC I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
Long
by x28Jakke
BTC ... Back to the Future!Well, well ... the bulls are sure having a good time. 9400, wow! And it seems that it's holding up. I've displayed two potential scenarios unfolding, as per my chart published yesterday. The big difference is that I am guessing the probability that this is an impulse being higher now, rather than a triangle wave. The red wave shown is a running flat ABC correction which would have completed at the 6500ish mark. This is then followed by an impulse up, of which we are in wave 1 (of 5). The orange wave shown is a triangle wave, and we are currently completing wave D of that. Both I believe are plausible. But as we move farther away from the All Time High Trend Line, I would suppose that the odds of this being a triangle wave fall away too. No doubt breaking 9177 means something important. It shows the bulls have strength ... enough to surpass the All Time High Trend Line, and the most recent price peak of 9177. Going to 9400 and recovering nicely after some profit taking (200 points), again is a good sign. I still remain skeptical though ... when do the large traders see this as a good shorting opportunity, and turn against the market? In my mind, that is what decides when this uptrend is broken. The big players will decide. As more and more people look to long, it becomes more and more tempting to short! I certainly see pro traders calling for a drop soon, but I also know they've been wrong for the past 2 weeks! The ones I respect admit they made a mistake, that's okay ... and I would call it a strategy that didn't play out, not a mistake! Having a strategy and using stops to limit losses is part of the smart game, in my humble opinion. Still, do we sit and wait? Watching BTC climb, missing out on all those potential profits? Well, I'm not. I have my orders in and will wait to see if they fill. If they do fill, I will have a tight stop, to protect me in case of a reversal. The potential does exist to go all the way up to 11,700 (but we have some major resistance levels to get through first!). I'll keep raising my stop until I'm kicked out ... assuming someone sells me coins at my asking price! Remember only a fool relies on one potential outcome! Do not use for investment/trading decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
3
BTC, Back to the Drawing Board!OK, I've been reading up a little, trying to make sense of the downtrend since Dec 2017, as well as the recent rally. I admit I sold out to early, getting excited about 40% profits, and thinking a reverse is around the corner. I guess it's better to be safe than sorry, but I could have made another 30% on some alts ... oh well, no point looking in the rear view mirror. I've decided to revisit the grand scheme, and simplify things a bit. Here's what I think. Based on Elliot wave theory, two grand schemes make sense right now, if we are to observe the rules! The first is we had a running flat ABC correction that ended at 6500, and now we begin another impulse up (and we are in wave 1 of the impulse), see RED wave. The second is we are in the D wave of a triangle wave, see ORANGE wave. I just cannot see us ignoring this current uptrend and averaging it into wave C of an ABC correction. So although I remain bearish in the short term, I do think that would mean we are in a triangle wave and 6700ish is the bottom. Look, obviously, no guarantees, but I'm slowly letting go of a 5k or 5.4k possibility. Maybe 6k is my worst case bottom right now, but 6700 is the highest probability. BTC 0.92%has been trying to crack 9177 many times over the past few days, and failed. Surprisingly, it hasn't reverse yet. At some stage, whether this is wave 1 of an impulse up, or wave D of a triangle wave ... it has to reverse. 9177 seems to be giving BTC 0.92%some trouble, so I'm still planning on a reversal with a 6700ish bottom. Either way ... we have to be prepared. If we do go above 9177, still no guarantees, but it starts to drop the probability that this is a triangle wave, and that we are likely in an impulse up. The question then is, how far up will wave 1 go ... again it has to reverse at some point ... so how the heck can we play this? The one way I know how to play this is to wait, and have confirmation. We need to see the reversal, and see the bottom of that reversal. That in both of the scenarios I have discussed (triangle or impulse wave) will be the likely lowest prices we see for some time. No doubt more potential investors are now looking more closely at BTC 0.92%, and some asking is it time to long ... it's easy to get a sense that the market is changing. I know some are still waiting for 4k (or lower), and by no means am I dismissing that. But again, right now, based on what I see, the odds are low. So here's my game ... by in ALTS if it goes above 9200, and make sure I put in tight stop losses in case it reverses. In fact I'll probably put in a trailing stop to try and time the sell off. If it fails here, look for an opportunity to short, with a view to take profits starting at 7200, 7000 then all out at 6800 (in case it reverses early). Then buy into ALTS at lower prices ... when I have some confirmation we have reached bottom. Start staggering bids at 6700ish, with tight stops, in case things go more south than I expect. Remember only a fool relies on one possible outcome. Do not rely on this information for investment decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
7
PPTBTC a start of impulse growthPopulous is a very interesting coin we bought it at its ICO and made a huge profit in the end of January. The coin went down after a sharp rise and now found its support. There was a possible H&S formation however it was broken and now it all seems like a start of an impulse growth. However indicators show a possibility of consolidation before it. But around specified in the signal zone and sell right at the targets in order to get profit from price movement waves.
PLong
by Skyrexio
Possible Impulse Wave (3)This is an update for my previous post here: In case wave (2) has been completed and has since moved on to wave (3), here are some areas of resistance for the potential impulse wave. If BTC goes below the 7720 levels, then consider that wave (2) has not fully completed yet or that there is an impulse wave failure. A bearish scenario also remains if BTC goes below the 7240 levels, which was the wave ((2)) low. Please ignore the arbitrary positions of the floating (3), (4), and (5) as they don't represent any price targets.
BITFINEX:BTCUSDLong
by madwarrior
Crack the BTC code!Patterns, we look for them all the time, to give us a hint at the future! Friends, I know this chart is busy, and I was in two minds about publishing it, but read it closely and you will get what I'm saying. There's a school of thought that we are currently in Grand Wave 5 (see red impulse wave), and this is the basis of my first idea published "Fork in the Road". Another possible interpretation is an impulse wave, followed by an ABC correction, and now either a triangle wave (as published in my idea "180 degrees in a Triangle) or another impulse down. No matter which way you look at it, the current wave is either a triangle wave or an impulse wave (yes an ABC correction is possible too, but I'd say unlikely if we test 6k again). We've already broken the lower trend line of the triangle wave, which I had at 7540 ... but with market dynamics, I'll forgive being off by 100 points ... so I'm not ready to write it off. However, no doubt if we hit the previous low of 7240 on Bitfinex, or lower, it validates Grand Wave 5, and I wouldn't be surprised if we hit 6k again in weeks to come. Obviously there's no guarantees, and only a fool would bet on a single option. As usual, do not use this for investment decisions, just for educational purposes.
BITFINEX:BTCUSD
by MAGICMARK
UPDATE - THE BRIGHT FUTURE FOR LITECOINHi guys, I bring you some light in that bearish day. I made a day-chart analysis for the long-term on LTCUSD and now I share with you an update to understand what's happening. Bears are here and that's completely normal, if we trust in the completion of the ABCDE Elliot wave forming since December. However, there is also another possibility, as we had an impulsive during the uptrend of December, it could simply be an ABC correction wave. If LTCUSD breaks the $142 support of the symmetrical triangle and reaches $135 easily, ABC correction wave could be more credible. Otherwise, if we don't break that triangle support, but the $155-$160 wedge upper support within next days, $180 could be reached for the early of April. Be patient and trade carefully ! Agree, comment and follow, Have a great week ahead ;)
BITFINEX:LTCUSD
by HatrekoS
11
Elliott Wave Analysis | Possible BottomsThis EW count suggests a possible sub-wave iv bounce before possibly heading down on sub-wave v to complete the 5-3-5 ABC correction of the larger degree. As long as we stay above the wave (1) low, there may be an uptrend following this correction. However, if we retrace below this level then this would signal the continuation of the bearish trend. Fibonacci retracement levels for sub-wave iv are shown in green. If we manage to break above the wave i territory, then this would be a bullish signal. Fibonacci extension levels for wave (C) are shown in the light red. Fibonacci retracement levels for the larger degree ABC correction are shown in red, which could also be the low for wave (C). A retracement past the 100% level would signal the continuation of the bearish trend, as mentioned above. This is just an idea and not financial advice.
BITFINEX:BTCUSD
by madwarrior