GBPJPY - Short IdeaWaterfall (and winter) is coming. GBP/JPY is capable to develop strong downtrend that exceed thousands of pips. The resistance line at 186.767 is the last strong resistance in the way.
Waterfall
Biggest drop for XRP from Huge Rejection This will be the biggest bull trap since the last bullrun back in 2017.
Right now met the strongest important Resistance into 0.50- Mid 0.54 area, should expect the big drop to happen to meet back towards down 0.45-0.30 area for a short retrace, and drop more continuously.
XRP bullrun won’t begin 2 months before the bitcoin halving of april 2024 which bitcoin halving will be happening.
XRP bottom target; 0.1500-0.1700 area.
XRP bullrun Target 560$
Experts predict that XRP will hit 100K until bullrun starts.
Make or break. Elliot wave count for the capitulation eventUpdate on my previous idea. The C wave up ended up extending into 4 waves. But that has now completed.
It's make or break for the bear market right now. Personally, I don't see us breaking out of the downtrend. But a fake-out is always possible.
Note that this technical analysis is a small part of the bearish case. The wider macro-economic environment bear case speaks for itself.
I'm long volatility via VIX Call options and CFDs.
What do you guys think?
*not financial advice.
How Low Will it Go?Maybe halfway down the flagpole. Had a pennant form around 4700, usually a continuation pattern.
Might get another waterfall straight off, or a B wave and then lower. 50 DMA likely target for support.
Be Real Carefull about Buyin this Dip, these dots may not be done dippin. A bounce is certainly possible before lower, wouldn't bet on it.
We had two weak bounces, failed rallies on 1/6, 1/7 suggesting there just might not be much bounce in this Tigger.
There is a definite impulsive EW pattern in the downtrend suggesting it may bounce first and then rollover again.
(Not shown, see it better in smaller timeframe.) A pivot reversal will appear within a few sessions IMO, leading to a right shoulder.
Not investing advice; trade at your own risk! GLTA!!
Correction: Work in ProgressNot over IMO. Look such a perfect fit on this overlay, couldn't help noticing how the step-down pattern led to waterfall then; Expect another.
By happy ?Coincidence, the previous ATH 4545, prior resistance and the overlay projection all align at 4545... on that line; that's my target.
Not yet oversold in the 3hr. DYODD; GLTA!
You really wanna go long here?!RSI near 80, MFI near ATH over 90, Blowing Up. Chart has all the details. Could top this week or early next. Overlay is a WAG.
Absolute disconnect of price from reality. Selling soon IMO. Price may press higher to test the Fibo at 16,530 before rollover.
Every blowoff ends in a waterfall cascade. Excessive greed gives way to excessive fear. Gonna get real dicey real soon IMO.
Expect ATH ~400 in QQQ before it's done IMO. Might get an exhaustion gap up Thursday 11/04. See related ES1 chart, suggests Tues Top.
This is not advice, just another tutorial about nutty price behavior. I do not recommend or hold any position now; GLTA!
GBP/NZD ready for the fall.Good Day traders !! For this pair we are at the 5 impulsive wave to the downside. WE also have a very strong level of resistance in confluence with the 0.5 Fib level which makes it even stronger and hard to break. Also on the daylight timeframe we have a formation of an "M" formation and we would like to see the pattern completed before seeing any kind of bullish move for the British pound.
From a COT perspective we are seeing the GBP bearish since we went from a 13705 net position to about 8000 net position and this is because of the massive number of short position that has been added from last week.
We have an extremely good RR on this pair and it"s ready to start it's move. Now if you enjoyed this analysis like and share. If you have a different opinion don't hesitate to comment as I would love to have more insights.
Trade safe !!!
LINK - Incoming WaterFall? My Fellow Crypto Traders,
Appreciate you taking the time to view my analysis which I hope you may find beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing.
Cheers & Happy Trading!
Reverse Waterfall Pattern in Action - Moon Power activatedAfter we almost completed the reverse waterfall pattern on the 1 hour chart, I expect this ongoing wave in gold to get us to approximately 1420 till the end of December this year. That could possibly open the way for moon power to be activated in 2018 and 2019, which could shoot gold to the moon and possibly above. Trading involves substantial risk, don't sell your house and buy gold (yet).
Wow a huge waterfullBrexit will affect the performance of the both eur & gbp, so the coming days will be bulls for the dollars index, and we expect its spike soon before a bearish trend.
US 30 Down Trending: Double Cascade Correction ImminentBusy chart. US 30 is trending down since 26 Feb 19, and 22 March Price Shock was pivotal IMO:
Note the long TL at bottom reaching back to 1996. Scroll R/L to see the extension. IMO this line will define the bottom for the 2020 bear market.
Note the two-year 'Trump' TL which has enjoyed a parabolic run-up since election and corporate tax cuts. This curve is unsustainable and will drop back to the long TL, sooner than later IMO.
NB: The 2018 Zig-Zag Correction and subsequent Bear Market Rally have produced a Head & Shoulders pattern on grand scale going back to Jan 2018 (triple tops charted under umbrellas).
In shorter perspective, US 30 is in a down trend since 25 Feb, when it made a lower high around 26240. It's trading well below that now, after rejection from the TL formed by highs of 03 October, 25 Feb (X-X TL). Small arrow over 19-26 March period shows stair-step of lower highs. Bearish engulfing candle on 22 Feb was extremely ominous; a clear sell signal, provoked by rate inversion, a highly reliable indicator of recession. According to WSJ on 3/24/19, the yield curve has inverted before each of the past seven recessions.
Nice article on what it means exactly and why it happens; essentially; bond investors' demand for long-term notes has driven their yields lower, as confidence in short-term paper falls, given an expectation that future paper will pay less: www.thebalance.com
"Price shock" on Friday 22 March occurred on/about Spring Equinox, a period often marked by trend changes. This arrived after a three-week rally following a brief decline from the 25 Feb high, a date 61 days from the 26 Dec trend change; significantly:
In "45 Years on Wall St" W.D. Gann noted;
"Rule 4: Buy and sell on 3 Weeks' reaction or decline... in a Bear Market sell on a rally of three weeks after you know the trend is down... After a market rallies or declines more than 45 to 49 days, the next time period is around 60 to 65 days, which is about the greatest average time the a Bear Market Rallies, or a Bull Market Declines."
"Rule 8. Time Periods; Dates for Changes in Trends: ...March 20 to 27th. Sometimes major tops or bottoms occur around these dates."
General observation: following a Price Shock, the market may Rally for 3-5 days before the Down Trend resumes in earnest. When these Rallies are rejected from a TL, the resulting reaction can provoke Panic Selling and Capitulation. Look back at Jan 29 Jan to Feb 1 and 3-10 October periods, where brief consolidation occurred just before Waterfall Selloffs, following the initial Price Shock.
Of the past 11 corrections of 10+%, 9 have produced double bottoms. Of the past 13 Bear Markets, only 7 have correctly indicated the arrival of a recession. The market is a lousy forecaster! But, this means that 46% of Bear Markets occur without a recessionary environment...!
See: www.cnbc.com
WXYXZ patterns depicted only suggest a possible path, this is of course completely unknowable, as predictions are always hard to make, especially when it's about the future!
If you scroll back to Feb-June 2018 there are two 'M' patterns with the WXYXZ path. Although the markets could simply roll over and throw down to a double bottom, IMO a complex pattern is more likely, given the titanic struggle with Bulls & Bears ongoing.
I do not pretend to predict the course of US 30. However, it is apparent we are in a Down Trend; the index has rejected from the X-X TL and is rotating lower as it gets Mark-Down. The possibility of a severe Secondary Correction with Capitulation Panic within three months is quite real.
Note that the X-X TL intersects the 1996 Long TL at price 17,734... this nearly coincides with support back to 2015 around 18,023. Expect eventual bottom formation around Dow 18K.
Risk in US Equities is very high now. Prices are within 85% of ATH (All major indexes reached and turned back from Fibonacci 8:55 ratio = 0.85455). It would be prudent to exit long positions and preserve capital. Speculate on price mark-downs at your own risk!
That being said, I've taken Bearish Positions in: SDOW; SPXS; TECS; SPY 282 May Put; QQQ May 180 Put. Growl!
NB: This is not investment advice; just my own speculative idea; trade at your own risk! GLTA!
8hrs ish for BTC to waterfall to the 200 Weekly MA, lets see8hrs ish for BTC to waterfall to the 200 Weekly MA, lets see
Bitcoin Cash Still Lookin' Like TrashI don't like this daily chart price action in BCHUSD; Bitcoin/USD is a far more attractive alternative for the bulls.
In fact I would not touch BCHUSD after seeing its recent, highly-manipulated bullish breakout/waterfall decline.
Another leg down for BCHUSD remains a possibility; if trading it, be especially nimble on the long side.
Traders and especially investors should stick with the leader in the crypto market - Bitcoin.
I have no position in either coin.
LTC on the UP SIDE!!! YEAH! Waterfall Recovery...Looks like LTC is recovering nicely from a WATERFALL movement, last night...(12-21-2017) phew! Almost back up to $300 price range, things are gearing up again for a POP to the UP Side! (Finally)! Buying in on LTC at prices below $260 was difficult due to excessive trade volumes bottlenecking the Crypto-Exchanges. For example many already know that "CoinBase," was overwhelmed with trading that it temporarily halted trading?!?! That tells us that if these bottleneck issue can/could be resolved then the prices more most Cryptos would already have reached well beyond what most would consider "reasonable,"i.e. the MOON?!
Cross your fingers and Make a Christmas Wish!!! LTC all the WAY!!! ; )
LTC LONG "WATERFALL" Movement?! Looks like I was right, last night? (12-21-2017) But today (12-22-2017) looks like I was Way Wrong and here we go, over the WATERFALL! Still very promising for HODL ers; however, buying at $260 is disappointing, looking at these prices today 9.00 am EST
Hopefully the price will continue to dip into the afternoon or possibly into the weekend?! At any rate, this is a GOLDEN Opportunity to BUY, BUY, BUY...with BOTH HANDS!!!
All Cryptos are crashing down right now...but its just the fall before the bounce to new highs. Let the herd thin out as they sell themselves short.
Can't wait to BUY more! ; )
USDJPY update - still no sign of exiting short since 113sUSDJPY continues its waterfall from 113s and is below 3 major supports. Next level is 109.5x, likely moving daily RSI into oversold ranges. I would not long until it moves out of the clearly marked down-trend (light blue) that has held consistently since 114s.
Current target is 108x. But honestly, I wouldn't mind if it just cliffed itself back to the 80s like it was 2-3 years ago.
USDCHF: Wow! What happened to gravity?Hi traders,
The world must be upside down today. On the USDCHF I'm expecting to see this bullish waterfall.
Possible price projection is in the chart
Cheers
AUDUSD bearish bat patternHi traders,
On the AUDUSD I was looking to see if we could make a nice waterfall again. Then I spotted this bearish bat pattern, which make a pretty nice entry for this.
Entry: 0.73503
Stop: 0.73733
Target 1: 0.72878 = R:RR 2.72
Target 2: 0.72460 = R:RR 4.53
Good luck guys! Updates will follow.
