Wave4
Zoomed out Hey,
This is my Bitcoin view in the longer term. (EW)
I zoomed out to get a better perspective where we could be in the larger picture.
I was able to get a clear count in the bitcoin log scale chart, which makes me believe we still are in a larger big wave 4 correction.
A very complex wave 4 correction but possible as the large wave 2 was pretty simple.
What you see here is the wave 4 still incomplete, my lowest target would be the 0.5 fib level ($1800).
Invalidation level at the top of the big Wave 1.
I know we got the halvening coming up soon, maybe we all expecting to go the moon in 2021 and thats why it wont happen.
Lets see how this ages.
Goodluck yall'
Last leg down for silverLast 5th corrective wave of C down to green box, will end total correction of big wave 4. Wave 5 will start there till new highs at least 20.44
Gold Last leg downWave 4 of XauUsd is incomplete. The ABC correction has to end at green box. Then we can talk about Wave 5.
XAUUSD Wave 4 Complete? Potential to get long for wave 5XAUUSD has been trading in a complex correction since hitting the 4th of September high. We can now count a complete Elliott Wave X-Y-Z pattern. The 1445 - 1455 area has provided good support / resistance in the past and the 38.2% retracement of wave 3 comes in at 1447.
We have bullish divergence on Stochastic indicating momentum could be shifting to the upside as the bulls start to take back control.
Gold at wave 4Short term sell for XauUsd. Gold is at wave 4 and correcting till 1440-1450. Wave 5 target is projected at 1650 and will start in October.
sell for elliot wave count (wave 4)im still practicing and this is for the better of my own education, i want to begin trading using elliot wave i took the most relative high and begin plotting were on wave 4 i believe that price can cont on to wave 5 and tp will be set at 1.28500 area
USDCHF long, wave 4.I believe we are forming an Elliot wave and will be looking for buys on USDCHF at around 0.9700.
I will be placing an order and expecting a snipe trade straight into profit.
If I was to be more conservative I would wait for a bullish candle on 4H.
My analysis predicts we will have a corrective wave from 0.9700 to my highlighted zone between 0.5 and 0.618 fib retracements.
Trade will look something like this:
USDCHF
BUY LIMIT @ 0.9700
SL @ 0.9640 (60)
TP1 @ 0.9860 (160)
TP2 @ 0.9900 (200)
Correction on the way!It's been 56 days of upwards movement, and I know things cannot go up indefinitely. Getting a satisfying wave count has been difficult, but I'm comfortable with the one you can see here, and I will put my money where my mouth is! As wave 2 was mild, wave 4 will be strong, but most importantly, wave 3 was over extended therefore wave 5 won't have that much thrust behind. I'll be ready to ride it as I'm ready for an adverse scenario. Remember this: it's not about you and it's not about being right. It's about being prepared ;)
BITCOIN- Wave 4 Targets and path variations(7200, 6800, 6450)!Can safely say that bitcoin completed Wave 3 (4.62 extension-8400), consequently based on the RSI divergence on 4 hours, we can currently expect a Wave 4.
2 variations for Wave 4 based on Elliott wave consolidation: 7200 (0.236 consolidation level) and 6450 (0.382). Personally I am more inclined towards 7200. Additional structural support levels are 7450 and 6700-6800.
This consolidation could take about 1-3 days. So during the weekend and based on volume, we can expect a slow buildup for wave 5.
>>If you liked this take on bitcoin, I would really appreciate a thumbs up or follow up for more.>>
It seems that especially this summer will be extremely volatile for all markets. There will be plenty of detailed analysis following up .
P.S. Do comment your agreeing TA or one with a difference of opinion!
SF BTC LOOKING FOR A BOTTOM FOR WAVE 4 (6650-6500)On it's way to C(6650). This support might hold, in which case we might have a breakout on D. That will start the wave 5.
Other potential supports for BTC are 6500 and 6430.
If it doesn't hold above these supports tomorrow, by extension this will lead up to 5950. However by the current structure. This is highly unlikely.
It's quite an obvious analysis at this point, it's just a short update. The long time frame analysis is in the Related ideas.
>>If you liked this Elliott wave take on bitcoin , give it a thumbs up and follow for more.
It seems that the summer will be extremely volatile for all markets. There will be plenty of detailed analysis following up .>>
BTC USD entry for short to sub 2kWill be laddering shorts in the range of 4570-4770
targeting the 1.272 extension
This correction cannot exceed 1.618 extension for the A and B which is (5140) so i will be prepared to ladder shorts up until this targets
BTC ... could it be??Hello everyone. Following the Elliott wave count, I am still expecting one more drop (sub-wave 5 of wave C, the capitulation wave). This could also be considered the spring test in Wickhoff Theory (I'm not an expert, but communicate with one that is).
It's clear, there are plenty that are expecting a new bottom, and it is also clear the market has gone (bullish) mad with just a $700 rise! We must consider this sentiment. These feelings are forces to be reckoned with, and so neither the bull or the bear will just sit back and allow the other to win. What I'm trying to say is that it's not going to be easy for the bears to get this much lower, as in sub $2900. It's not impossible, and that's easily proven by how deep they were able to take it back in November from $6k to $3k, cutting through all support like nothing. But now we are in a new layer of trader ... as we dig deeper into the price, we deal with stronger Hodlers, people who have dealt with BTC for over one year or longer. They were either smart enough to not get burned in the bear market (the 20%) or they have lost almost everything and don't really care at this stage if it goes down further, they are committed to holding (most of the 80%?).
So, I print this potential pattern ... let's see if this triangle wave unfolds. This would be sub-wave 4 ... and then a final sub-wave 5 down to 29XX?? ... or will the bulls hold the line at 31XX ... or will the bears break their spirit and take it to 1300 - 1800 territory? Right now, if I was forced to choose, I'd say 29XX to 31XX will be held. That will be a fairly bullish sign for me and then it would likely only be a matter of time before we (slowly) start our new bull run.
Let's analyze this triangle ... it seems we have topped out now. Bears will likely take advantage of that red candle on the daily. Finex longs have closed out drastically, which means the market generally thinks it's the top ... however, there's another point there ... the bears won't be able to stop hunt much, because longs have closed out in droves. I print wave D hitting the bottom of the ichi cloud and finding support. Then wave E tops out about where the ichi cloud twists on March 18th ... the ichi twist has almost always predicted a top or a bottom. The last one a few days back, proved to be a local bottom before we had that nice pump up to $4k.
Let's see how this plays out.
Remember only a fool relies on one potential outcome.
Do not use this information for trading, investment, or financial decisions. For educational purposes only.
SPX possibly more downside remaining (Elliott Wave)Count in alignment with Nasdaq, either W.b/x is complete or still continuing with one up leg remaining, in either case it seems we have one down leg remaining in this market for W.iv Cir. completion.
possible path for this corrrection this weekendPossible path (imo the most logical) volume is low and bitcoin is very slow in correction waves especially when it is in the weekend.
This correction would fit in nice in the bigger picture. pls also check my wxyxz correction i charted in august.. press play and enjoy.
I will put the link in here
Hang Seng IndexThe Hang Seng index should have a sharp wave 4 rebound as wave 2 is a sideway movement. we should aim for 27200-28000 target.
then a wave 5 again. so wait for the sweet spot for sell or buy into to the rebound now.
Herbalife, HLF, Elliott Wave Fractal Comparison. Possible wave 4"Beautiful Pictures from the Gallery of Phinance", Robert R Prechter Jr.
Copyright 2003 Robert R Prechter Jr.
Pages 18 & 19
The drawings I've added to this chart are directly pulled from page 19 of the book mentioned. The original charts referenced are the DJIA from 8/24/1921 to 09/03/1929, and the second chart in the comparison is the DJIA from 12/06/1974 to 01/14/2000. The similarities are many.
The reason why I took interest in this chart is because I noticed a huge boom in social media marketing by Herbalife distributors, pushing their products and heavily recruiting new customers and new distributors. The chart immediately reminded me of the Elliott Wave Fractal so I decided to compare. It looks good and I am assuming a long to somewhere near the $80 - $85 range. I don't want to get too specific but I expect the final waves (4 & 5) to end sometime near the end of 2019, roughly 12 months from now.
Gold updateBoom goes the dynamite. Wave 4 initiated. Channel looks like 38%. I adjusted the levels. If you were like me, you got stop in profit, on to the next one. Just keep in mind we are trading fibonacci and not price action reversal, but the fibs are strong across the board. Check out my XAU/USD 7 swing lining up with the 1.236 trend fib extension. Just keep in mind these moves can shoot, but if XAU/USD is doing a wave 4 retrace, then it will be corrective and boring.
