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BTC as a Running Flat CorrectionHi everyone, Ignore the main chart - look at the updates for what I'm proposing... Just another BTC idea I had - BTC as a running flat correction on the larger scale. Ghost bar patterns came from: The more detailed yellow ghost bars: -Wave-C in Larger Wave-A, inverted to give the right price direction -Small Wave-C in Wave-B is A+B time -A and B in Larger Wave-B are equal in time. Larger Wave C: -The same as Wave-C in Wave-A, stretched to match the larger 0-B trendline . -Larger Wave-C is equal to larger Wave-A+B time. That puts the top at around $35k if we are to make a new ATH . It won't happen for some time from now, though. Still debating whether this may be just Wave-A in an even larger correction, or maybe the whole correction is Wave-2 (haven't worked that out yet). In the update below - I will put some trends I was playing around with to come up with this/help validate it. Not trading advice.
BITSTAMP:BTCUSDLong
by Korastiz
2
SPX500: 3-Drive Reversal (Potential 20% Correction)We have the S&P500 grinding up to all-time highs. We have some bearish divergence forming and a potential 3-Drive reversal pattern. The 161.8 extension of the 1st drive (green) and 1.272 extension of the 2nd drive (red) both come in around 3100 for so confluence. This is where I will be hunting for reversal. My minimum target will be around 2500 for a Running Flat correction. That is a potential correction of around 20%
OANDA:SPX500USD
by FX_PriceActionSetups
2
SILVER run upGuys, I think we are very close to trend reversal 1D candle confirmation, and possible good entry point here around 14.6$ nice ADX position, RSI in the lower position and HUGE upside objective regarding my FIB levels up to 3.3 risk&reward ration on LONG position. First conservative profit taking will be MA 200 levels, after that possible 78% FIB, and 16$ + levels up to weekly resistance point around 16-16.1$. Stop should be placed bellow 14.25$ What do you think, what are your oppinons on this!? Thanks, if you like what you see here please like and follow... best regards, Igor
OANDA:XAGUSDLong
by pimpcrypto
4
$XAUUSD Daily Chart. A fake-out not a break-out |#gold #fx #us Traders, Gold’s rally 1046.54 to 1375.12 labelled (i)-(v) confirmed the reversal signature and is indicating the end of the corrective structure from late 2011 with a Double Zig-Zag pattern at 1046.54. This larger pattern is labelled, unfolding as a primary degree impulse, 1(circle), 2(circle) and is getting ready to break to new record highs for gold the next decade when the second corrective wave 2(circle) completes and that’s perfectly correlated with the multi-month correction we are expecting for U.S$. Gold is going to break above 1375.15 (the previous high) however, that will be a fake out and not a break out, dropping again back in the range. This means that once the upside is completed, this market will undergo a severe percentage corrective decline, proportional to the downswing from the July’ 16 high labelled as (A)-wave, giving a sense of equality of waves (A) and (C). A fib. 61.8% retracement of the 1046.54-1375.15 advance projects down to 1170.00+/- for the following 5-wave sequence labelled as wave (C) completing the Running Flat Pattern 2(circle). Wave (B) is moving in a very overlapping sequence, a corrective format as a Triple Zig-Zag, thus cannot be considered as an impulsive sequence, but as the second part of a larger corrective structure. Implementing Fib-price ratios and proportions model for this pattern, terminal price targets are highlighted where measurements converge at 1420.00(+/-), creating a “reversal standby signature” where a price rejection could be enough to validate the flat’s pattern second-wave completion. Trade with Discipline Best
FX_IDC:XAUUSDShort
by ChrisMark
17
Eur/Aud buyI feel so stupid considering I had perfect buy entry earlier, and also because I fel like I never took the time to properly look at this as a whole. It is possible it produces a nice sell setup, but considering everything I would at least expect it to hit that 618/equal length, possibly much more. EA told us exactly what it was doing, I was just to busy looking at other pairs, but I would just say to continue looking for buys, if it pulls down/ consolidates, look for chances to buy.
Long
by thillygoosth