EURNZD on 60 minutes chart, completing a 5 wave movement respects to the elliot Principles, currently wave 5 facing a truncation at the price level where wave 3 ends. All 5 wave respects fibo levels as per the principles of wave analysis. RSI showing divergence as showing noticeable higher value at the same price level, where earlier showed lower value...
Price has Broken the Diagonal Low and will look to Retest the Back side of it filling the Gap before moving lower Principle is Price Moves in a Flow over Time The Flow Has turned down from its consolidation upward and will expand to the Downside Principle is For Every Action there is an Equal and Opposite Reaction (Newton)
Just for fun, projecting out the 2nd fan line to see when it says the earliest we could see $30K (and $20K, $10K just to be macabre). Not saying it's gonna go there. Just showing what a trendline that has been respected leads to.
John Murphy's classic book 'Technical Analysis of the Financial Markets' mentions the 'fan principle'. Going with that model, lines 1 and 2 have formed for Bitcoin. It appears that a possible 3rd fan line is in the works. The 3rd line shown here has provided resistance twice.
Easy setup for a quick trade, it's an ending diagonal + abc below the structure. You get the Fibonacci retracement tool there and go for 618 retracement as entrance, and -0.272 | -0.618 profit levels. Just try this in the past and see it for yourself: how many times does this combination of behavior has happened before? Hello, I'm Lito. I've been studying the...
As I've been studying the wave principle, I have found that price movement shows us the market behavior. ...what is this? people call it elliott theory, but it's a principle. that word means description of the behavior, but to be more precise: human behavior. Our emotions into charts, movements in dynamics ups and downs, in an oscillator=diagonalish increasing...
Fan Principle Currrently retesting the daily S/R Zone H4 Range
so i wrote an in depth analysis here but tradingview deleted the entire thing long story short - bulls have taken back ethereum, its elliot wave has been completed (5 impulse, 3 corrective waves), higher highs lower lows signal bullish trend, ascending channel convergence point should act as stop loss, resistance levels will be tested heavily on the way up so ...
Hi all, This count sees a reversal in the near future in the direction of the dominant trend. The construction of higher highs will confirm the continued development of the motive structure labelled at subminuette degree orange which upon its completion will consequently mark the termination of the last actionary corrective wave at minute degree - minute wave y...