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Wave3

USD/JPY - Correction in wave 2 completed at 107.30USD/JPY has been correcting in wave 2 since the 118.67 high in mid-December 2016. This wave 2 correction completed at 107.30, just above the 61.8% corrective target at 106.85. Wave 3 higher is now developing and should continue to higher towards at least 126.41 and more likely extend higher to the 161.8% extension-target of wave 1, which is seen at 138.23. Third waves is normally the strongest waves and tend to extend. As Pretcher says " Third waves are wonders to behold ". Short-term, I'm looking for a minor correction into the 108.72 - 109.17 area from where the next impulsive rally higher is expected. At no point can a break below 107.30 be accepted under this count .
Long
by EWS
LTCUSD Perspective And Levels: Bullish Momentum And New Target.LTCUSD Update: The 70 to 73 area target has been taken out upon new all time highs. Wave 3 of 5 continues with the 84 level as the next proportional target, but don't forget, as price goes higher, risk goes higher also. This market along with a few others like ETH and BTC are in a relentless uptrend that is obvious. What you do not want to get caught in is the euphoria surrounding these moves. There will be all kinds of overly optimistic reports saying that these markets are going up forever, with all kinds of outrageous targets. When this sentiment reaches extreme, that is usually a sign of a top. That goes with the saying, the crowd is always wrong at tops and bottoms so I am certainly a contrarian at these levels. Even though I will not get caught up in the hype and not buy into highs, this market is worth evaluating for proportional targets and support levels that would offer attractive buying opportunities IF price revisits them in the near future. The market will eventually retrace, all markets do, and when that scenario unfolds, I want to be prepared with a solid plan instead of reacting like the market crowd. As the market rises, the potential levels that would serve as reference points to look for entries will also adjust proportionally. At this moment 65 is the .382 of the current bullish swing and the 55 area is the .618. These are the levels that I would look for if the market retraces off these highs. If price can revisit these levels, that is when I would be looking for bullish reversal patterns for a risk assessment and entry. Targets, just like support levels are proportional to the current price structure and the 84 area (which is the 3.618 extension of the subwave 1) is the next target and may be reached before a significant retracement materializes. The other perspective to consider is Elliott Wave. This is a Wave 3 of 5 that shows no signs of bearish momentum or weakness at the moment. If I was long, I would be selling some into this strength, raising the stop and holding on to a small portion of the position to see how price behaves around the 84 target area. The only thing is there are 5 subwaves that are complete which forces me to sit out and wait for the Wave 4 correction. Waiting out while the market appears to be going straight up is probably one of the most challenging situations we face because of the internal struggle of not wanting to miss out. The solution is stop focusing on the profit, and instead focus on the risk. Buying highs may work once or twice, but as some of you know, eventually you will get hammered and if you don't believe me, it's okay because the market teaches this lesson often. In summary, this market is clearly strong with no signs of pull back or weakness at the moment. Great if you are in, but more risky if you are out wanting to get in. Price may rise to the 84 target area before showing any possibilities of a retrace, but in my opinion, as price rises, risk rises as well. The best I can do is prepare myself for when the market retraces by having specific levels to anticipate, and entry criteria for those levels. The current wave count also shows 5 complete subwaves which I interpret as an increased chance for pull back, it is just a matter of waiting it out. And if it goes dramatically higher, I simply adjust my levels and continue to wait. Remember successful speculation in any market is not about being right, it is about stacking probabilities because that is all we can control. Everything else is up to the market. Comments and questions welcome.
BITFINEX:LTCUSD
by MarcPMarkets
30
LTCUSD Perspective And Levels: Breakout But Lookout.LTCUSD Update: Bullish breakout confirms strength and opens the door to the proportional target zone of the 70 to 74 area, while new support levels provide attractive reference points to buy. This market has been a mystery to me because while BTC and ETH were making impressive moves, this market stayed quiet. That kind of behavior is always suspect because often it is a sign of relative weakness, but these coins obviously cannot be compared that way. As I have written about when comparing ETH and BTC, these markets emulate more of a sector rotation behavior meaning order flow is selective and favors one market over another as opposed to follow the leader where one market goes and the smaller ones follow. So now this market has taken the spot light for whatever reason. And the new high is drawing attention. The question is what to do now if you are not in it? Don't let the fear of missing out distract you here. Risk is something we can control and profit is the outcome of effective risk management. When a market makes a sudden move that seems dramatic, the first thing I do is zoom out and look at the bigger picture. Based on the most recent upswing, there is a .382 support at the 53 level, and .618 support zone from the 49 to 46 levels. Since these are proportional to the larger magnitude price moves, they are significant moving forward, especially when observed through Elliott Wave. In terms of wave counts, the current high places this market in a subdegree Wave 3 of a larger 5. Also 5 subwaves can be counted within this 3, which means there is more of a chance that it is complete. It also means this is a higher risk area to buy, for those who are struggling with the fear of missing out. Keep in mind, Elliott Wave helps to provide a process to weigh probabilities, and is not an absolute prediction. It is possible that the market continues without much pull back, it is just that the current count does not favor such an outcome. After a Wave 3 completion, comes the Wave 4 retrace which as we all experienced with ETH, can be tough to sit through. Based on the current price structure, the most opportune level for Wave 4 to bottom is the 53 support because it would not overlap Wave 1. That is the first level to look for bullish reversals and eventual development of subwave 5 of 5 which can take this market to the 70 to 74 area (1.618 and 1.0 extensions of previous Wave 1s). If the 53 support is broken, then the 49 to 46 area is next to watch for, but a retrace to this area will alter the wave count and put this market back into the consolidation category. I like this market because it is low priced and generally stable, just a little too slow at times. My plan is to wait for a retest of the 53 area and look for reversal patterns to enter a position that carries low risk. If this market is going to be strong in the long run, it will provide plenty of opportunities to get involved at good prices. I have no problem waiting. Comments and questions welcome.
BITFINEX:LTCUSD
by MarcPMarkets
31
ETHUSD Perspective And Levels: 345 Target Near. Stop Break Even.ETHUSD Update: 315 resistance breaks and subdegreee Wave 3 is in play just as I wrote about in my previous report. For those of you who go long in the 280s and 90s, 345 is my first target and 374 is my second target. Clearly a bullish catalyst has sparked the rally, at this point I do not even know what the catalyst is, I can just tell by the vertical nature of this price action. BTC is stagnant which is proving that these markets are competing for order flow and money rotates in and out of them on a selective basis compared to the"follow the leader" relationship I was looking to identify in previous reports. Now it's about managing the trade. 345 is my first target which I will sell half of my position. The 350 resistance is a target I have been talking about for a number of reports and I stick to my plan. The other half of the position I will let ride and look to sell 25% of it at the 374 level which is the upper portion of the resistance zone. And if that target is reached, then I will let my small portion ride until I determine my next target. The upcoming resistance zone is proportional to the .618 of the previous broad bearish swing. At the same time, I am now adjusting my stop to break even so that this trade no longer carries any risk. It is possible to give back profit, but that is not loss, that is profit. So my stop is now adjusted to 295. Also the 306 to 315 area which served as such a tough resistance is now a support level based on inversion. In terms of proportion, a retrace from current levels should not overlap this price area. Something to keep in mind if a minor retrace unfolds from here. As I mentioned in my previous report, Wave 3's are the ones that wow the market. And they are never the shortest wave in terms of the Elliott Wave rules. Once this wave completes, the next retrace will offer one more buying opportunity to complete the 5th wave of the larger degree Wave 5. I will be able to evaluate targets and risk once the new subdegree 4 is in place. In summary, this market is in a subdegree Wave 3 which is no surprise and has finally stolen the order flow spot light. I expect my first target of 345 to be reached today and if 350 breaks, the 380 area is likely to be reached in the next day or so as well. My stop has been moved to breakeven which means my trade carries no risk it's all about management from here. Price action analysis. It works. I would like to thank the Tradingview community for your support and appreciation, as of yesterday I have reached over 1k followers. Questions and comments welcome.
BITFINEX:ETHUSDLong
by MarcPMarkets
64
ETHUSD Perspective And Levels: One More Retrace? Then?ETHUSD Update: Market structure and wave count support the argument that this market is poised to reach the 350 resistance soon. It is a matter of catalyst. First the 297 swing high needs to be broken, followed by the 315 resistance. The 315 break will signal that the next leg up is in play which can take this market to the 350 area that I have been writing about in previous reports. It appears there is a rotation of order flow in these markets. One minute its BTC, then a bunch of newer coins, then BCH. It is tough to pinpoint where order flow will appear next. We must remember that this market as a whole, even though it has a enormous capitalization, has a very small population of traders and investors compared to the traditional financial markets. There are also other factors in play such as many alt coins trading against BTC or ETH instead of the USD which makes things much more complicated when it comes to measuring the relative strength relationship. A few months ago, BTC went up, and the alt coins went up also. Now BTC goes up and pulls back a few hundred points, and ETH is not really sensitive to it at all. In terms of wave count, this market is in a very high potential position. I have been writing about being in a larger degree Wave 5. Within that wave, subdegree Wave 2 has established a bottom in the low 280s. Which means we are most likely in a subdegree Wave 3. Wave 3's are usually the ones that wow the world because of their magnitude (See IOT/USD for a recent example). A break above the 315 resistance will signal that the subdegree Wave 3 is in play and can lead this market to the 350 resistance relatively quickly. It is also possible for price to retrace once more into the mid 280s before this new up leg begins. If this retrace occurs followed by a bullish reversal pattern, I would see this as another buying opportunity with attractive risk/reward. With a stop in the low 270s, and a target at 340, reward to risk is more than 3:1. As price action traders, we must always be flexible and understand that anything can happen. Many less experienced participants still view technical analysis as predictions which is a mistake. This is not a weather forecast. We are gathering information about historical order flow and comparing it to get an idea of what can happen next. Charts are records of human emotion expressed as a series of price points and provide valuable clues if you know what to look for. If a bearish news catalyst were to surprise the market, chart analysis will not be able to anticipate such an event. This is why I pay very close attention to the 279 and 263 supports. If price breaks below, especially 263, that would signal a broader consolidation is more likely to follow. In summary, this market is in a position to realize a move up into the 350 resistance area it is just a matter of catalyst. Wave counts point to a subdegree Wave 3 which are known for large moves in terms of proportion. One more retrace into the 280s can offer another chance to buy at an attractive risk reward, but outside of that, it's just watch and wait. As long as price stays above 263, it is just a matter of stealing "the order flow spotlight" to get things moving. Questions and comments welcome.
BITFINEX:ETHUSDLong
by MarcPMarkets
25
Moving nicely to start Wave 2 Minor within Wave 3 intermediateFBR Fastbrick Robotics (FBR:ASX) Moving nicely LONG on Intermediate Period with a start SHORT for Wave 2 Minor within Wave 3 intermediate. A good entry point for this stock will be on the completion of Wave 2 on the Minor period to go LONG Reference to my previous chart here: 15th August 2017: Fastbrick have announced, Robots to assist building homes in Saudi Arabia, which has driven the price of this stock to a high of almost 0.30, thus developing a Wave 3 on the minor period inside a Wave 3 within an Intermediate period. Twitter Announcement here: twitter.com ASX Announcement here: www.asx.com.au Other Media here: thewest.com.au ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
ASX:FBRLong
by UnknownUnicorn661419
BTCUSD Perspective And Levels: More To This Retrace?BTCUSD Update: New all time highs, which should not be a surprise. The question is: Is the current retrace a minor one? Or does it have room to test lower supports? Elliott Wave provides some interesting perspective to help answer these questions. First I want to mention ETH for a moment. I was debating whether I should write up another ETH report, or BTC, or even ETHBTC which one trader suggested (I took a look at it). I chose BTCUSD not because it is wowing the media and the markets, but because I want to point out there is a relative strength relationship compared to ETH. If this was inverse as some suggest (investors selling BTC and buying ETH with their profits) then ETH should be testing resistance, not supports while BTC retraces. I have been writing about ETH weakness concerns while BTC has been pushing highs for days now. Let's talk about BTC which is the leader, and the base currency of this market in my opinion. 4190 is the new all time high, which I am sure is being spread everywhere by the mainstream and non main stream media like wild fire (I haven't looked at any articles yet, but I can only imagine). I'm sure they will be predicting BTC 5k is just around the corner! Please do not get sucked into this hype. Observing this market from the Elliott Wave perspective, we have been in a subdegree Wave 3 of a broader 5. Within this subdegree 3, 5 minor waves can be counted which signals completion. To add to the argument, I measured the subdegree Wave 1 to the bottom of 2 with the extension tool, (it is not on the chart for simplicity sake) and there is a 1.618 extension around the 4112 area. This is very significant because this is a common Wave 3 completion point relative to the degree being measured. According to the same measurement, the next completion point is around 5164. A push up to the high 4000s or the low 5000s would be a proportional target for a large degree Wave 5 to complete.I would not get overly excited until the next corrective wave is in place and that is what I want to highlight in this evaluation. To answer the question: Is this pullback minor? Or is there more too it. Based on the wave count, this is most likely the beginning of a Wave 4 of 5 that can retest levels as low as 3500 before going higher. To help confirm this scenario, the 3820 support (.382 of current bull swing) must be taken out followed by other bearish structure like a failed high. If 3820 is not broken, then Wave 3 of 5 is still unfolding and this market is more likely to retest the high. In summary, this market is clearly strong and has all the structure to reasonably expect higher prices. That can change quickly and there are levels in place that would signal a broader retracement is in play. I am keeping a close eye on 3820 because a break below opens the door to the possibility of retesting the 3530 support area which would be a very attractive buy price in terms of structure. And I can use this information to help time my entry into other markets like ETH. Comments and questions welcome.
BITFINEX:BTCUSD
by MarcPMarkets
13
Litecoin on Wave 3 Impulse - Bearish trend?It seems Litecoin is on a bearish Impulse 3 wave and will continue to the low Peak before a pullback. This Impulse move seems to be on the Minor period time frame and isn't performing as previously expected. TDI continues to show bearish movement as the RSI approaches the lower outer band in preparation for a Sharkfin out of the water. The blueberry EMA has been breached by the price action and has already been crossed with the Ketchup EMA. Once the Water EMA crosses the Blueberry, we should see some signs of a retracement, then an additional move down for a wave 5 before a breakout of structure from the bearish channel, which would conclude the bearish trend. I will wait until price action reaches the support peak area before performing another analysis in order to understand the next move. Fundamental announcements will also provide more insight to future price action. I'm still holding this coin, even though the drop is significant, it isn't enough to warrant an exit from my long-term hold/position. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
Short
by UnknownUnicorn661419
Ethereum Progressing through FLAG pattern with Bullish Impulse?Continuing on from my initial analysis here: It seems that we have almost confirmed the head-and-shoulders pattern and it is possible we are in view of the start of an Elliot wave 1, 2 and now going onto Wave 3, on the 4 Hour and Daily charts. TDI shows bands are widening with the close still mid way between middle of band and upper band, thus suggesting possible future upward trend, after a sharkfin and blood in the water, for the previous Wave 1 Impulse. Price action has not hit the Blueberry EMA but has penetrated the Water EMA and all 3x EMAs seem to be flaring which suggests additional future upwards movement. In my opinion, this wave count, Flag pattern formation, head-and-shoulders pattern are all progressing towards an EXTENDED WAVE 3 Impulse for continued bullish price action. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
BITFINEX:ETHUSDLong
by UnknownUnicorn661419
SiaCoin On the move UP, Breakout of structure confirmedAs per my previous analysis here: Breakout of structure has occurred and it seems that we may be at the start of an Elliott Wave 3 in progress. Price action has not been able to breach the lower major support area and is now bullish in trend. It also seems that a borderline FLAG pattern 'may' be forming, which may also confirm the possibility of an elliott wave 3 impulse count. TDI shows mid-band price action, from a previous sharkfin with blood in the water that may suggest a possible move downward to test the lower support region again, however due to the fact that the slant of the TDI bands is in an upward direction, this possibility is low probability in my opinion. I shall continue to hold my previous position on the breakout as I believe this coin has huge potential in the crypto market and once 1st August time period has passed, we should see a much clearer view of the market and possible opportunities to purchase more Siacoin. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
Long
by UnknownUnicorn661419
1
Possible Wave 3 on breakout of wave 2 structure?The Hydroponics Company FPO, which manufactures Medicinal Cannabis, seems to be ready to breakout of a wave 2 structure, where TDI shows the middle of the range band has just been passed, which most likely indicates additional moves downwards before a breakout of structure to begin a wave 3 impulse on the 4Hourly and Daily charts. Not enough price action exists for proper EMA analysis, however, I have chosen to use Support and Resistance to predict possible future movements and trend direction. The information that I have shows a wedge has been formed and a breakout occurred during the end of June where currently (in July) a wave 1 has possibly been completed as well as wave 2 correction. It is in my opinion, based on technical analysis as well as fundamentals (which include Medicinal Cannabis licences being granted this month), that this stock would be good to LONG and hold either long term or exit on the top of Wave 5 structure. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
TLong
by UnknownUnicorn661419
Sugar (SB1) should be close to completing wave 3 I'm looking for wave 3 to complete at 12.67, where wave v of 3 will be 61.8% the length of wave i thru wave iii subtracted from the top of wave iv. It should just be a matter of time before wave 3 completes and a corrective rally in wave 4 takes over. As the correction in wave 2 corrected a large part of wave 1, we should expect wave 4 to only correct a minor part of wave 3. A 38.2% correction of wave 3 will see wave 4 moving up to 16.03 before turning lower again in wave 5 towards 9.98. Regarding the corrective pattern of wave 4 it should turn into either a flat or a triangle to alternate from wave 2.
SLong
by EWS
1
Alternate 'Short' View on EURUSD!Hi All, I am sharing an alt view on Eur short as it also makes sense from an EW perspective - my rule when it comes to analysis is to not rule anything out until it is unvalidated so this could also be in play. Alternative Short Count: Wave 1: Off the break of the triangle, there has been an impulsive wave down. Wave 2: I have this wave as a double ZZ retracing to 90% of the impulse wave 1 Forecast count: Next wave here would be wave 3 which would be be a massive decline of EUR and possible first target is 0.9745 which is 1.618% extension My action plan is to follow this retracement happening right now and watch the nature of the movements, i.e. corrective or Impulsive decline. Below are possible move that could play out. I have already taken a short position as per my last post so watching to see which of the below plays out. A) ZZ (5-3-5) B) Flat (3-3-5) C) Impulsive decline as wave 3 - This will be a brutal move to the downside if this count is in play so watching the nature of this is key In both counts a short is in play and both counts will close the gap also... Let's see what this week brings! Don
by donaldsaw
1
WHO IS READY FOR USDCAD TO FINALLY FALL?Hi All, Interesting moves this week and based on the count, I think Looney is looking like it is about to fall and start wave 3. Please see my count update below. Count update: Big picture: From the screenshot below, I have been tracking the final wave 5 of wave C of an ending diagonal which has hit a key fib level where wave A = C at 100%. This is followed by a shape impulsive wave down which generally signifies a change in trend. From the top: Wave 1: 5 wave impulsive to the downside. I initially thought this was a potential wave C of an expanded flat but having recounted the final wave 5 up (which was an ending diagonal) I have changed my count to reflect this and have labelled 1.3795 as the top. Wave 2: This is a clear ABC flat wave that retraced to 78.6% of the wave 1 impulse Wave 3 (Current wave): I have marked out the possible FIB extensions for wave 3; Target 1 = 1.3526 Target 2 = 1.3376 target 3 = 1.3132 This Friday's session will be a massive indication that this count is right so let's see how it plays out Happy Trading!
Short
by donaldsaw
1
Overall Bullish Trend with great EMA and Harmonic Entry LONGIt seems we have a great opportunity to LONG this stock, as price action has progressed through structure almost reaching the Blueberry EMA, which would provide a high probability Entry LONG as well as breakout of structure going LONG. Overall structure shows bullish trend but I'd advise caution on entry as we could see larger retracements down to the bottom channel if fundamentals show any adverse results. It also seems there could be a high probability Bullish Bat Harmonic pattern forming, which could provide additional trading opportunities to SHORT this stock as well, through the progression through the bullish price action / trend and accompanying significant profits. My Elliott wave count shows we are almost mid-way through a Wave 3 Cycle Period which means a LONG trade on this stock would be for several years (long term). TDI shows shark fin (green) out of the water and blood (red) in the water, thus indicating a high probability of upwards move from the previous oversold position. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NYSE:GELong
by UnknownUnicorn661419
2
Possible completion of Wave 2, setup for Wave 3 LONGIt seems we may have a confirmation of the end of a Wave 2, ready to trade a Wave 3 LONG. TDI in this instance shows almost oversold position and would correspond directly with the price action and structure. The Mustard, Ketchup, Mayo and Blueberry EMAs have also all crossed (note Crossing of Ketchup and Blueberry EMAs) suggesting an imminent reversal to go LONG. Entry on this stock would be on breakout of Structure as shown by the trendline breakout point (in RED). Caution always advised. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NYSE:IBMLong
by UnknownUnicorn661419
Overall Bullish trend to complete a wave 3 with butterfly entryIt seems we have an overall LONG on a BULLISH trend for a Wave 3 completion. There is also a possible Bullish Butterfly pattern available in the Hourly chart to use as an Entry point on this stock. All EMAs show Bullish trend confirmation with TDI also giving previous overbought signal confirmation on the potential Bullish Butterfly about to form. In my opinion this stock is headed for much more bullish trend for at least another year until it reaches the upper channel trendline, where a Wave 4 correction/consolidation will form before another Impulse wave 5 will continue the upward trend. With this stock, the only way is up. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NASDAQ:AAPLLong
by UnknownUnicorn661419
This Alternate count is now my preferredHi All, I've been looking at EUR, DXY, Cable, and Swissy for a while now and my counts are all pointing to USD falling. (Please review my previous posting) - This also tells me that the looney will be falling as well. Revised count: Wave 1 - From the top labelled as (c), A clear 5 wave impulse down Wave 2 - Flat correction Wave sub 1 of 3 - from the top labelled c, another clear 5 wave impulse down Wave sub 2 of 3 - Flat correction Elliot wave guideline: Both corrective flat wave 2 retraced to around 90% of the previous impulse - an indicator of a flat correction termination point. Forecast wave - We should now see the beginning of a wave 3 to the downside Let's see what the French Elections hold as the results could push the USD down (Finally) Happy Trading
Short
by donaldsaw