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Wave-5

Contrarian Call Right Here. Optimal Bullish EntryThis is a typical bullish Wolve Wave that is on the final leg down currently. Expecting whipsaw reversal starting as soon as tomorrow, but main bullish price action will be around June 15 on the full moon (literally howl at the moon). Expecting the yellow trajectory to play out and complete EW wave (5) around 430. The chart contains all the info you need to know, but there are a lot more dynamics at play here, mathematically/statistically, that have led me to feel highly confident about this. - initial target is around 421-422, from there will retest ~415 and then make our way to 429-430 - the goal target is 448 by end of June ...and this makes sense with the confluence of wolve wave 1-4 projection and the ADX breakout "open long" target (stop loss 394) - that DMI is low key bullish af, this is re-accumulation off the May 20 lows in 380s; stochastic RSI oversold and will give the escape velocity needed to reverse here and make explosive move to the upside I'm playing the SPY June 17 411.00 calls and the June 27 429.00 calls, but this is not financial advice. I am fully expecting the price to follow this yellow trajectory, so when you replay the bars at the end of June they'll perfectly coincide with this path, hah. No Cap, Prof. Lupin
AMEX:SPYLong
by JerryManders
11
Howl @ The MoonI posted a bullish idea for SPY (linked) where I did not go into detail about the wolfe wave - I am seeing major confluence with EWT, wolfe wave projection, bigger picture downtrend resistance, target via an indicator I love called "ADX Breakout", and time series forecast for both SPY and QQQ . There happens to be a full moon (a SuperMoon actually) on Tuesday Morning, June 14th, so if a Wolfe Wave gets us to intial target around that time that would be interesting. I'm not going to use any moon phase analysis here, but there is something about the moon that does in fact influence investor sentiment, albeit indirectly, though I am not expert on that subject. This post zooms in on the Bullish Wolfe Wave and is intended for both price action projection near term and education purposes (I don't see many posts covering wolfe waves though they can be $$$ in making seemingly contrarian calls, such as this). In my counts I am using <1,...,5> for the Wolfe Wave and conventional EWC (Elliot Wave count) based on the degree. Overview of Wolfe Wave (WW) : Occurance - An uptrend channel for a bearish Wolfe Wave - A downtrend channel for a bullish WolfeWave -Horizontal channels for consolidating price periods Rules Wave 3 and wave 4 remained in the channel created by waves 1 and 2. Wave 1 and Wave 2 are symmetrical with waves 3 and 4. Wave 5 goes above the trendline created by wave 1 and wave 3 for a bearish pattern. Wave 5 goes below the trendline created by wave 1 and wave 3 for a bullish pattern. Regular timings between waves. It means that the time taken to complete one cycle for the waves 1-3-5 is equal. We can see in my chart that QQQ fits the bill here. There is a signal use to confirm wave <5> called "Wolfe Waves Signals " (Props to @NXT2017 for creating this wizard signal). I like it because it doesn't give frequent signals so when it occurs it is generally the real deal if the chart setup fits the bill. Confluence - EW intermediate count w(4) = WW <5>; projected w(5) aligns with the <1-4> projection at the expected time such that there is perfect symmetry with time between waves (see date ranges on chart). This sets up for an initial target of 317.90 by 6/13/2022 - EW primary count circle 3 aligns with the WW EPA @ ETA - EPA is the estimated price arrival, ETA is estimated time arrival and is established as the point in time where the WW support and resistance lines intersect. The level that these intersect is an equilibrium point where supply = demand; notice that E (expected <5>), w(4), and circle 2 all will occur right around this equilibrium level if we do in fact see a bounce from here and this plays out. This confluence gives us a Target of 341 by 6/29/2022 , and this is also the level of an "open long" target using ADX Breakout (not included here, there is already a lot going on didn't want to crowd the chart; also this target is at the 4H time frame, which actually makes sense with the time to target here). My time series ARIMA(0,1,0), p=0.23, upper 80%-95% PI for June 13 is 319.69 - 324.88 so the 317.90 initial target is reasonable, statistically. My upper 80-95% for June 27 is 334.90 - 348.14, so target of 341 is plausible as well. - The downtrend line through the 11/21/2021 high and the 3/29/2021 high is the red line visible in this chart... so for those that have doubts about WW or EWT you can think of this projection as merely a test of downtrend resistance, which is very plausible considering how much time we have spent down in the gutter attempting to end this corrective wave. The yellow path is illustrative, expecting an impulse from apprx. yesterday's low (i.e. <5> & (4) & circle 2 on chart) toward the initial target (i.e. (5) & <1-4> resistance). From there we will see an intermediate ABC corrective wave that will also serve the purpose of re-testing the WW upper channel to ensure old resistance has become support. After that I just drew a straight trajectory to the target at 341 (i.e. circle 3 & EPA @ ETA), however, this will either be a diagonal or an impulse - I'll update with expected levels is this plays out to intermediate (C). Sincerely, Not Jacob Black
NASDAQ:QQQLong
by JerryManders
1
NZD/USD likely to fall!Hey tradomaniacs, after the ECB-Statement from yesterday we have seen a strong dollar-push as the upcoming rate-hikes were already priced in. The reason for the entire sell-off in equities was basically that the ECB has raised its rate of price increases aswell as lowered the exepctations for economic growth. What a dilemma... I think we might see a continuation of the recent breakout due to the risk-off-sentiment. Still stay cautious ahead the important CPI-Data today which will be very important for the market. But a great chance with tight SL here!
Short
by Trading2ez
GreyScale BitCoin Trust (GBTC) I have never has any interest in Bitcoin nor its derivatives. I like the technology but believe we are still in its early days. That is not to say however I don't follow it. One equity way to position a Bitcoin view is with GreyScale Bitcoin Trust. So currently on a weekly basis there there are two current bullish harmonic Patterns in play ... A Gartley and a Black Swan. Additionally there is also evidence of a bullish Wolfe Wave in play which I have marked with a time and a target. Our final inspection shows an upsloping Andrews Pitchfork which is also has been marked. IMHO this technical analysis evidence suggests we have formed or in the process of forming a significant bottom. That said, I will watch an comment on its progress. BTC may have one final push down to the $23,000 so my game plan is to enter an established GTBC rally just under the $23 level with a stop at approximately $the $17 level. My target is around the $34 level. If it works out that's good.. This is educational investment advice. Do your own due diligence and respect market trends and conditions which as any student of the crypto space can change rapidly . See you in September. S.
G
by Steve666
2
What is the lowest possible price for bitcoin?Ask yourself what is the lowest possible price for bitcoin? 20000? 15000? Theoretically, the price will be - 0. I'm not saying that there will be such a price, but if there is a panic in the market, keep this in mind. By the way, how much is Terra Luna now? Keep in mind that bitcoin was worth exactly zero at first. And the correction will probably drag closer to that number as well. You may start to panic. In May 2010, 10 thousand bitcoins were equal to $40-$50 (an American bought two pizzas for 10 thousand bitcoins). That is, a person sold 10 thousand bitcoins and he actually just gave them away. It is clear that not all of his bitcoins. Perhaps he had 100 thousand bitcoins and he did not feel sorry for selling them. That is, there are people who have a bunch of these bitcoins. Many years have passed, but in fact nothing has changed globally, everything except the value of bitcoin. I can't take and buy anything with bitcoin, there are just a bunch of people who want to sell it for more. I took 2009 as a starting point and drew trend lines from zero. At first, we don't have prices until we sold two pizzas for 10,000 bitcoins. Then the price started to rise sharply. As you can see, each subsequent wave of the trend has less strength. In fact, if you look at the real from afar, bitcoin has not yet hit the real bear market, where the next wave will cover the bottom of the previous one. But as the trend fades, it can happen and the next wave could rewrite the 3000 low. Perhaps this will not happen and bitcoin will hold the 3000 level or be higher than it, but look at the trend. Looks like waves 1, 2, 3 are fixing now. Now look at the volume in 2015 and 2020-2022. Someone is now quietly fixing and distributing bitcoins, At the same time, there are no serous purchases and panic sales. Everything is still ahead!
BNC:BLXShort
by John_Wayne
4
BTCUSDT 3 day Hello friends This is a general analysis that gives us a broad view of market conditions. If we look at the RSi as well as the MFI, we see that after almost three years, we have reached the saturation zone.This is not good in the long run because these saturated areas have to change and this creates a price trap. Also, the current price area has been touched about three times, but it has never been saturated. If we look at Elliott Waves, we find that we are in a medium-term period in which prices are correcting (But in my opinion, in the long run, we are still in wave 4) Also, when the price of the historic ceiling broke $ 20,000, we did not see any touch again and pullback (Goodbye kiss) So in general we are still in a small cycle in a downward trend and a price correction of up to $ 33,000 to change saturation zones is likely. And this will create a phase change trend. So it is possible that we will see an unexpected correction up to the price of 33k. And we will find out when the price really intends to return to higher ceilings, which will stabilize the price at 35 before falling to 24. This will be a lot more scary and confusing, because the pullback will still be $ 19,000. Share your comments and questions with me under this post and also support me by liking
by aliasadii