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Wave5

ETHBTC Perspective And Levels:Clear Wave Count Implies Strength.ETHBTC Update: In terms of BTC, this market has a clearer wave count that points to one more upswing before a broader correction unfolds. The high .089s to the low .090s area is a reasonable zone to expect a Wave 5 completion which sheds light on the potential of the upcoming ETH upswing. I have been covering the ETHUSD market very closely, and since not much has changed since my previous report, now would be a good time to explore it from another perspective. Many participants buy and sell in terms of BTC, and because of this, there is an additional layer of complexity that can cause confusion when evaluating these markets against the USD. Before I get into the levels, I want to mention that when you buy ETH against BTC, you are essentially shorting BTC. Just like when you buy the EUR against the USD, you are long EUR / short USD. Compared to BTC, fiat is extremely stable. In the fiat markets we are using leverage to take advantage of fluctuations worth fractions of a penny, while BTC climbs dollars per minute. It is possible for ETH and BTC to go up at the same time, but then the focus becomes about the rate of change. ETH must rise faster than BTC and this pair will go up. If both are rising at an equal rate, this pair will show no progress. And if BTC is rising faster, ETH will decline. And this is why I prefer to buy against the USD. USD is generally weak to begin with, and even if there is any buying, it is fractional compared to the price action in ETH. So let's talk about levels and what this chart tells us about ETH. First it is important to note that .060 to .079 BTC is a very broad support zone that is relative to the .618 of the larger bullish swing if you look back at the price history. And at the moment, bullish price structure is working it's way back up and away from this area which is a bullish sign. There is also a support zone at the .07014 area to the .07376 which needs to be maintained in order for ETH to go higher. As far as resistance, there is zone from .08306 to .08781 which is relative to the .618 of the recent broader bearish swing. A price push through this area can lead to a retest of the low .090's which is not unreasonable when we observe the current wave count. In terms of Elliott Wave, there is a clear impulse structure in place that meets all the requirements. The current bottom of Wave 4 does not overlap into the area of Wave 1 and this market is in the early part of a Wave 5. And since Wave 5's have more of a tendency to extend, reaching into the low .090's to complete Wave 5 is within reason. In summary, observing these markets from different perspectives can provide additional clues about what to expect in the near term. This chart, just like ETHUSD, is full of bullish structures and implies that if anything, ETH should rise at a faster rate than BTC. Since I buy ETH in terms of USD, I use this chart to give me additional insight, and not for buy and sell signals. Comments and questions welcome.
Long
by MarcPMarkets
14
Ethereum buy signal in 1 hour chart! I am long.My entry: $280 My tight stop loss: $266 (≈5% loss). Target: 1. $325 (RR ≈3.2) / 2. $340 (RR ≈4.3) / 3. $360 (RR ≈5.7) Facts: • We had a higher high at §319. • Volume increased after the weekend. • Rebounced at $272 support zone (.5 of bearish swing). • We should be in wave 5 which can bring us into the $360+ area. This is no recommendation. It´s just my personal result of my analysis. Do your own research. Comments / opinions most welcome!
Long
by r2d2One
4
ETHUSD Perspective And Levels: Minor Retrace Next Bullish Swing.ETHUSD Update: 306 resistance taken out, but 315 still holds. Is this a giant head and shoulders reversal? I've mentioned this before and I will address it again. In terms of Elliott Wave, I am evaluating this current bullish swing as a subwave 1 of the larger degree 5. Let's begin with the head and shoulders. I keep getting questions about it, and my evaluation is this: Within the context of the BIG picture, counter trend chart patterns carry little weight. I didn't learn this lesson from a book. If you lost as much money as I have shorting strong markets on these types of patterns, then you would have a better understanding. The underlying structure of this market is bullish. To add to that argument, the head and shoulders has appeared within a broader Wave 4 which means there is a higher likelihood for a Wave 5 to unfold which can take this market into the 350s. Now in terms of wave counts, I am labeling this move as a subwave 1 of the larger 5. This means a subwave 2 is likely to follow which can lead price back to the mid 280s. This is NOT a prediction, just a possibility based on the proportion of this up swing. As long as price does not fall below the 270s, this market will remain poised to break the 315 resistance, even if a minor retracement gets in the way. That is why I see no reason to adjust my current long position. In summary, do not be distracted by chart patterns and/or opinions of others if they are not in line with the bigger picture. In order to PROVE a "head and shoulders" is in place, support levels need to be broken and so far they hold. Also the bullish structures that are in place, continue to be untested, which implies strength. Remember financial markets are fractal in nature and this means not all information is weighted equally. In the context of a strong market, bearish reversals or signals on smaller time frames carry less weight. Price will have to make some serious moves lower in order to prove that a real change is taking place. Listen to the market. Questions and comments welcome.
BITFINEX:ETHUSDLong
by MarcPMarkets
21
ETHUSD Perspective And Levels: 279 Double Bottom And Wave 5.ETHUSD Update: There is a double bottom off of the 279 support and a 5 wave triangle completion. Based on this structure, I believe we are in the beginning of the larger degree Wave 5 that can take this to at least the 350 area over the next week. In my previous report, I posted an update about an hour ago with my trade entry at 294.76. I immediately received a PM asking me why I changed my mind so fast. When things line up, I adjust, and to compensate for the additional risk I took a smaller position (50% of usual size). My stop is at 276 and my target is 340. Risking 18 pts to make 46. That's more than 2:1. Posting trades on this platform in a timely fashion is very difficult for me, especially since trade setups do not always appear around the time that I can write a report or update a previous report. I have been waiting for the retest of the 263 support, but the market has firmed up sooner. The 279 double bottom is very significant and the initial push off that level is a bullish sign. The best entry price was in the mid 280s. I have been highlighting the 279 support level for while now (see previous reports). The other major signal for me is the fact that 5 corrective waves can be counted within the Wave 4 triangle. Typically when you can count 5 waves in these formations, they are more likely to break out and coupled with the double bottom is very compelling. Wave 5's are the most predictable wave in my opinion because they require 4 previous wave structures in place, which takes a lot of time and effort for the market to build. The next levels that will signal this Wave 5 is likely to continue toward the 350 area would be breaks of the 306 and 320 resistances. My target is at 340 because it is just under the 350 to 380 resistance zone which would be a convenient area for this wave to complete. The BTC relationship has been causing concern and why I have been hesitant to enter this market until now, but there is something we must realize: the relationships between these markets is not fixed. Meaning just because BTC goes up 400 points, ETH must go up a fixed % of that. I wrote about the relative strength because I am always trying to detect it and use it as a guide. If it is there, great, but if the BTC lead/altcoin follow relationship lessens, I'm not going to spend a lot of time figuring out why. As long as my market has signals and presents attractive reward to risk according to the criteria of my plan, I will take positions. I'm flexible. In summary, this market is showing technical signs that a Wave 5 up is in progress and I am willing to participate with a lower risk position. The double bottom off of the 279 key support and the Wave 4 completion are adequate signs. I'm curious to see if any additional profit taking in BTC or some of the other "bubble" alt coins contribute to a new high in this market. Comments and questions welcome.
BITFINEX:ETHUSDLong
by MarcPMarkets
36
The Bitcoin Rally LONG Continues #2In my opinion, Bitcoin seems to be completing a Wave 4 Triangle formation and will soon breakout of structure to start wave 5 LONG. It seems Wave 3 has already been completed and provided another base Resistance level. Wave 5 target range would be largely due to the impending Aug1 SegWit, as information was provided on my previous analysis here: which it explains the impending August 1st SegWit upgrade and the market entering panic stage (wrongfully because of too many amateur traders), which most likely will result in a deep ABC or possibly a very lengthy double combo WXY Wave combination, until the market settles and things return back to normal. In my analysis, I have added 2 paths which I believe are highly probable to take place, one primary and one secondary. TDI suggests the RSI is not yet quite reached the overbought position, therefore, we can expect an additional upward move, which in my opinion confirms again the possible wave count. I have already entered 3 times since price action had reached the Gartley entry point on the 16th of this month and I shall be holding on to BTC long-term, as I believe once the upgrades have been completed and the panic by the amateur traders has subsided, BTC is surely set to reach above $4,000, possibly more in the next few months. It is also possible to trade the breakout of structure from the triangle formation, however, TP must be at the next Resistance level SL (Stop Loss) must go to BE (Break Even). ---------------------------------------------------------------------------------------------------------------------------------------------------------- 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 ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSDLong
by UnknownUnicorn661419
The Bitcoin Rally LONG Continues !After my previous analysis here: Where the Harmonic Bullish Gartley was confirmed as well as a Head-And-Shoulders Pattern noticed (Thanks VitalyKaminsky) and a breakout of the structure/channel upwards in a bullish trend. An Elliott Wave count seems to be in progress, where a Wave 1, 2 and 3 have just been completed (Caution - Possible extension on Wave 3 - Patience), and it seems Wave 4 is now progressing. Once wave 4 has completed, we should see another Impulse move pushing price upwards to around the $3000 ~ $3100 area, according to my calculations, using Fibonacci extension. Once this price has reached, I shall make another analysis, where I believe the ABC Corrective waves may possibly last for a considerable time, thus pushing the market sideways, until the Segwit2x, UASF and the Possible Fork issues are resolved/completed and all testing has confirmed there are no issues. Here is what the Segwit2x, UASF and Possible Fork issues mean: 99bitcoins.com And an additional follow up here: 99bitcoins.com In my opinion, now is a reasonable time to buy Bitcoin whilst you can still get in (although you are a little late), if you haven't already, especially once price action hits wave 4. I do not see any reason for concern to panic sell the coin, as once the Segwit2x, UASF and the Possible Fork issues are resolved or during the ABC corrective waves, which thereafter, we should see a huge increase in price, well above the $3000 USD mark and it wouldn't surprise me if price action surpasses the $4000 mark or greater, after the 1st~6th August time frame. ---------------------------------------------------------------------------------------------------------------------------------------------------------- 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 ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSDLong
by UnknownUnicorn661419
2
Litecoin on Triangle completion to wave 5 impulse?It seems litecoin (LTC) has completed a Wave E (in a triangle) and has now started to progress through a Wave 5 Impulse towards the upside. Price action is above all 5 EMAs, including the Ketchup (5 EMA). Interestingly, TDI shows the start of a possible shark fin move, however, due to the fact we are at the 0 Position with RSI, I am unable to predict the next move based on TDI. I've also used Resistance and Support areas (including trendlines) to predict the next moves for Wave 5 Impulse, as well as Waves A, B and C. In my opinion, a good time to purchase this Cryptocurrency (LONG it) on the BREAKOUT of structure for Wave 5 impulse. This would validate the wave count and also provide additional confirmation of the upward move. There is also a possibility that my wave count may be invalidated, should price action rebound off the upper trendline of the Triangle, downward and through to the lower support ranges. Therefore caution is always important before placing a trade (or in this instance when purchasing cryptocurrency coins). ---------------------------------------------------------------------------------------------------------------------------------------------------------- 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
6
High Probability SHORT on the Daily for a Bullish Butterfly ConfIt seems we have a good setup here for 2 trades. The first is a SHORT and the second is a LONG, after the harmonic pattern confirmation. This seems to be a very high probability trade on the Daily for Twitter Inc, where price action has reached a significant resistance area and point in the structure, at the top of the channel/trendline, where a very high probability of a retracement will occur and a good signal for entry to a SHORT at the breakout of structure. My elliott wave count currently shows a Wave 5 in progress on the Intermediate period, where Wave 5 exit/target would be at around $9.64. Current position of Wave 5 seems to around the 30% mark, so there is significant profit to be made by SHORTING this stock once the breakout signal is shown by the Price action. TDI not only shows massively Overbought position, but we have what is no doubt a Sharkfin out of the water with blood around it, signaling a very high probability of a SHORT as well. In my opinion, there is a good opportunity to Enter into a SHORT on this stock and trade it to the bottom of the Wave 5 Intermediate. Once that is reached, we should have confirmed a Bullish Butterfly Harmonic Pattern, which would then provide a good signal for a LONG entry to trade the Corrective ABC waves. ---------------------------------------------------------------------------------------------------------------------------------------------------------- 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:TWTRShort
by UnknownUnicorn661419
Great LONG opportunity on breakout of corrective structureIt seems we have a great opportunity for a LONG trade on the breakout of the corrective structure. EMAs show price action has hit the Mayo on the reversal and has also just hit the Water with a wick at the bottom of the candle. In my opinion, on the breakout of the corrective structure, a great setup will have been confirmed to trade the entire Wave 5 Impulse wave. Note: There are about 5 Cypher patterns possible in the Hourly chart, however too many mixed signals for Harmonic patterns to be used in this particular chart at this particular point in time, I've preferred to stick with a pattern breakout of corrective 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 ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
ASX:RIOLong
by UnknownUnicorn661419
Comcast Approaching Wave 4 on Minor Period for a wave 5 LONGComcast Corp New seems to be approaching the completion of a Wave 4 on the Minor period before continuing upwards for a Wave 5 to the upper structured trendline. Stochastic seems to be approaching overbought position whilst RSI seems to indicate downwards movement to oversold position, as well as MACD suggests continued downwards movement for a confirmation of wave 4 on minor period. Structure suggests that we have already broken out of wave 3 Minor (confirmed) and needs to complete wave 4 before starting wave 5, which should be a great trade. Once price action reaches the top structured trendline, we can take a massive SHORT to trade the correction/consolidation of the chart for some really great profits ! My gut feeling is that this stock will drop substantially, possibly below the lower trendline but we shall wait for now to see which way investors view the continuous dubious practices which have landed Comcast the largest ever FCC cable fine ($2.3 Million) which suggests upper management panic due to possible poor subscriber numbers, together with CNN's continuous engagement into fake news announcements and leftist rhetoric and poorly executed journalism, resulting in very low viewer audience which may possibly affect investor confidence over the next year. ---------------------------------------------------------------------------------------------------------------------------------------------------------- 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:CMCSALong
by UnknownUnicorn661419
Elliott Wave Count for Brazil's IBOVO IBOV parece estar no final de uma onda C Menor, dentro de uma (4) Intermediária, que faz parte de uma onda (I) Primária. O início da onda (5) está iminente e deve levar o IBOV até 55K. A partir dalí, devemos ficar atentos ao final da onda (5) e (I). Essa contagem leva em consideração o humor social bastante negativo que dominou a percepção de investidores e não-investidores sobre o Brasil, especialmente no segundo semestre de 2015. O Fundo de Janeiro de 2016 seria então o final de uma correção(baixista) de uma onda de grau Cíclico(altista). Esta correção teve seu início em Abril/2008! -------------------------------------------------------------------------- Brazilian Stock Index IBOV looks as though it is at the end of a Minor C Wave, which is part of an Intermediary (4)th wave inside a Primary Wave (I). The start of Wave (5) is imminent and should carry the IBOV back to 55k. From then, we should look out for the completion of Waves (5) and (I). This count takes into account the negative mood that took over investors and non-investors perception on Brazil alike, specially in the last semester of 2015. The January 2016 Bottom would then be the end of a (bearish)correction of a long (bullish)Cyclic degree wave. This correction started back in April 2008!
BMFBOVESPA:IBOVLong
by geraldelli
1
Feeder Cattle - The ideally bottom for wave A seen at 130.78In October 2014 I called the top almost to the cent (see the link below). The decline from 244.80 is finally coming to an end near 130.78. Short term I'm looking for the final decline in red wave v of an ending diagonal and once the bottom is in place, a quick return to the origin of the ending diagonal at 169.58 should be seen, within half the time it took to build (that would amount to something like 3 months). That will however, likely be only the first part of wave B, as a continuation higher towards 187.80 and possibly even closer to 201.25 should be expected longer term. The clear divergence seen from the RSI indicator does confirm that, we are approaching the end of wave A and wave B can start soon. It's time to close the long term short position and shift towards a long position. Just a final word. Remember that correction in the commodity complex often is extremely violent. Just look at Soybeans and Soybean Meal.
F
by EWS
EWA. USDJPY - Triangle in Wave [4]Okay, lads. From the middle of February we can see a consolidation model forming on USDJPY chart. Perhaps, it's a triangle - that fits just perfect as the wave 4 in current bearish impulse. Even so, the time to sell hasn't come yet, and that's why: The current price pattern looks like a triangle, but until we can read all 5 waves it's not a triangle Even afterwards, I strongly don't recomend to sell, until the price will form a return from the upper trend line My trading plan: I'll wait until wave (e) will be formed - it can take a pretty long time, but as Jess Livermore said "It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!". After the price will approach to the upper trend line, I will open a short position. 115 yens for 1 bucks look like a pretty strong ressistance level, that's why I will put my stop-loss order there. The target zone is, at least, the height of the triangle - something around 110,2 yens per bucks. Risk/reward ratio, as you can see, it's ok. Alternative scenario: Wave {4} could take, basically, any other form. If my S/L order will be executed, I'll stay outside the market, because There is also a possibility that current bearish trend is finished yet, and will form a pretty large correction There is also a possibility that there will be no triangle, but just a ABC-flat - but it's not my bussiness, as long as it's too risky to open a trade right now. Of course, if my target zone will be reached, or I'll have to cut my loses, I'll stay outside the market pretty long.
Short
by UnknownUnicorn90040
EWA. EURUSD - An Ending Diagonal (Wedge)And so, after a little break in falling down, in the middle of august '15, EURO continues his journey to the south. Perhaps, now there is forming an ending diagonal in the wave 5 (or c). Why do I think so? As we can see, there are a lot of correction waves (ABC), both up and down. Therefore, there are two possible scenarios: The correction up will continue in the wave C, and the whole model will be a flat (marked with gray color). In this case, wave C can be an ending diagonal as well. There will be formed an endind diagonal, and the current "ABC's" are its wave I and II. After it's finished, the currency will start a major correction, but it'll be not earlier than next year. Why do I think it's the second scenario, even the ending diagonals are not so common? In the wave II, there were formed a beautiful triangle in its wave {B}. As we remember, accordind to the Elliot Wave rules, a triangle could be only a wave 4 or B. Obviously, it cannot be a wave 4, therefore it's a B-wave. The question is, it's a B-wave in the I-st wave of upside diagonal or it is in the II-nd wave of the downside diagonal? My trading plan: March has started with a little correction, and it's a good oportunity to sell. So, I open a short possition, even the correction can go further, with a stop-loss order at the local maximum - 1,137. Once the order is filled, it means I will trade the second scenario. I want to trade wave 3 only (because to trade wave 5 in an ending diagonal is too dangerous), so the target zone is, at least, 1,05, but probably it will be 1,04 or even more. So, the risk/reward ratio is acceptable.
Short
by UnknownUnicorn90040
1
Nov 11 - GOLD - Heading Lower to $970-$1,000 Region in 4-6monthsGold (Weekly) @11 Nov 2015 On the mid-term outlook, Gold is at the final phase of its major downturn from all time high of 1,900 (year2011). Price is forming an Ending Diagonal - typical wave5 pattern following significant downmove or extended wave3. A closer examine of the ending diagonal structure shows that a potential Final Down-Leg (lower degree wave_v) is under progress. Projecting ahead with similar down-angle within the diagonal, expect the final wave to bring price towards the psychological $1,000 mark, or the subsequent 2.618 fibo expansion level of +/- $970. * ----------------------------------------------------------------------------- GOLD (Short-Term Outlook) ----------------------------------------------------------------------------- - expect immediate direction = UP in Rebound - recent $100 fall from latest pivot high of 1,190-1,080 warrants an near-term rebound - rebound target, taking the immediate resistance band overhead around 1,130-1,150 zone. - expect price will move in similar angle from previous bounces within the diagonal - shall the bounce materialised, expect the next move to be Down towards the mid-term targets. * * -------------------------------------------------------------------------- GOLD (Mid-Term Summary) ----------------------------------------------------------------------------- Price Target: 1,000, then 970 region. Time Target: (4-6months from Oct'15) = Feb-Apr 2016
FX:XAUUSDShort
by jeanne_k
3