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Burberry may turn around soon? EW sequenceBurberry (ticker: BRBY) reaching ~14 years lows, where the risk /reward ratio for the mid/long term starting to be favourable. I have two scenarios sketched out on the weekly, white being a 5 wave up, in which we finished 3, followed by a yet unfinished irregular flat structure as a wave 4. Yellow suggests a 3 count move up as an (A) wave, working now on the (B) wave, and later (likely several years) a (C) would follow in 5 subwaves. In yellow I would primarly expect a deeper cut in the (B) wave also as an ABC structure, where we likely nearing the A wave bottom in the foreseable future. In both scenario a move-up should be imminent, white to start the wave (5) to the upside, and for the yellow it would be the B wave. For the yellow I put there the resistance levels, but be aware, as price cuts deeper (IF), then we need to adjust that red resistance fib box. Now, the movedown already consist 5 waves, so technicly we could be near to the local lows, and also in support already (hence the post). Next levels to watch: 951, 885, and 834 and 768 as bigger fib support levels. Weekly RSI is oversold despite MACD is weakening, On the daily we are building divergence already, so far all the meaningful MA's (9/21/50-52) currently rejecting price action, and far below the 200day MA.
LSE:BRBYLong
by tommtajlor
Next Leg Down, Top Next WeekLooks like Minor wave A likely finished today, next up is Minor wave B. Models point to 18-22 hours of possible duration which will likely see the bottom on Thursday. There are a three pockets of interest for the bottom. I used the green box (4281-4294) for the more conservative zone, yellow (4255-4275) for the more aggressive zone and my target is the white box (4270-4285) straddling both boxes. Depending how Minor wave B plays out, Minor wave C and Intermediate wave 4 are currently projected to end early next week between 4355-4390. METHODOLOGY: I operate a modified wave theory composed of Dow Theory and Elliott Wave Theory. All data is determined from comparing current wave locations with historical wave relationships. The listed percentages are based on previous movement extensions and retracement quartiles of the data. There is too much data to list all points but overlap of the quartiles based on specific relationships tends to point to more likely targets. The light pink levels are based on most specific data, light blue is slightly broader, and yellow levels are the broader set of data used. A red level typically indicates maximum historical move for the current wave throughout the historical data.
SP:SPXShort
by StockSignaler
solana scenario ithink solana have to paths for the future 1- after big correction of sol we can see that price break the downtrend channel and gonna complete the pull back maybe if price can break the main resistance we can see sol for 300 or above(black paths). plus we have nice fundamental from it . 2- if you look at the chart the elliot wave are going too complete wave B and that a correction wave of elliot so the path blue could impossible if price cant break 78.6 ret and that strong resistance and going for wave C and 120 or 100 price. plz comment down blow what u think have great and profitable day.
by sepehrj2260
2
Bulls Will Rush In This Week, But Don't Be FooledBased on the last projection, Intermediate wave 4 should be over. The losses of the past week did move into my projected bottom. However, it does not appear a full 3 wave (ABC) cycle occurred. It only looks like the A wave is now complete. I have adjusted my model to account for this and the projections of the next movements are below. I expect gains most or all of this week and more declines through mid to the end of next week. The bottom should occur around next Friday or the final Monday in September. What wave A did: It lasted 40 trading hours (6 trading days) and dropped 277.64. The rise over run of this was a loss of approximately 6.941 points per hour. Wave A tends to make up 39% on average of the larger wave (Intermediate wave 4 in this instance) it makes up. This means Intermediate wave 4 could last around 101 trading hours. Likewise, wave A tends to move 74.6% of Intermediate wave 4’s total move. This means Intermediate wave 4 could drop 372.17 points from top to bottom. This does not mean a straight drop, which will be further illustrated with this week’s projected gains and wave B. Wave B Length In determining how far wave B will move, I have looked at how all B waves for the S&P 500’s Grand Supercycle wave 1 has moved over its 85+ year history. I have used multiple estimations and calculates to narrow down B’s length. B waves tend to last 75% the length of their A counterpart. This means B could last around 30 hours. A waves tend to last 1.32 times the length of B waves. This means B could last around 30.3 hours. Also, A’s makeup of the larger wave is 1.54 times that of wave B. With wave A projected to makeup 39% of the move, this could have wave B last 29.5% of the overall move which equally equates to 29.8 hours. Finally, B waves tend to make up around 25% of the larger wave’s movement. If A is now projected to last around 101 hours. Wave B could last around 25 hours. Based on all of these estimations, I am forecasting Wave B to last around 29-30 hours. This will have it peak around the afternoon on September 17. Wave B Point Move B waves tend to retrace about 60% of wave A’s movement. This could see B rise about 166 points. A’s move tends to be 1.635 times larger than wave B. This could see B gain 169 points total. Wave A’s contribution to the overall larger wave’s (Intermediate wave 4) is typically 1.68 times larger than wave B. If A tends to rise 74.6% of this overall movement (currently projected to be 372.17), then B could makeup 44.4% of the larger wave’s movement which means B could rise 165 points . Separately, Wave B tends to makeup 44% of the larger wave’s movement which is very much inline with the last data point. This could see wave B last 163 points. Finally, on average, wave A’s rise over run is roughly equal (1.00000) to that of wave B. This could mean wave B rises 6.941 points per hour over the course of its length. This does not mean it will rise 6.941 points perfectly ever hour without larger gains or losses in between. Due to my projection of wave B lasting around 29.5 hours and considering this rise over run data point, wave B could gain up to 204.7595 points. The range of potential movement for wave B was tight (163-169) before considering the rise over run data point. My projection for wave B’s peak is around 3477.97 (167.5 point gain). Wave C I will project wave C’s move and length based off of the finalized wave A data and projected wave B data. Wave B’s full data would be 29.5 hours long and 167.5 point gain. This projection would be a rise over run of 5.678 points per hour. Wave B hypothetically lasted 73.75% of wave A’s length (40 hours) and retraced 60.32% of wave A’s movement (277.64). Wave C Length Wave C tends to last 37.02% of the larger wave length. If the larger wave is projected to last 101 hours, wave C would make up around 37 of those hours. Wave C tends to last 107% of wave A’s length. Wave C could last 42.8 hours. A tends to last 1.24 longer than wave C. Wave C could last 32 hours. A’s percentage of the larger wave’s length tends to be around 0.86 of that of C. If A is around 39% of the total length, C would be around 45.34% or last 45.8 hours. Wave B’s length is typically 0.62 times the length of wave C. Wave C could last 47.5 hours. B’s retracement of A’s length is 0.53 times that of C. This could mean wave C extends 139.15% of wave A’s length or last 55.7 hours. B’s portion of the larger wave is typically 0.53 times the size of C’s contribution. This means wave C could make up 54.71% of the larger wave or last 55.3 hours. Considering all of these data points. I currently forecast wave C last approximately 44.5 hours to end around the morning of September 28, 2020. Wave C Point Move Wave C tends to makeup 68% of the larger wave’s movement. If the larger wave meets the forecast of 372.17, wave C could drop 253 points. Wave C typically extends Wave A’s movement by 138.2% (ironically a key Fibonacci number) which would be a 383 point drop. Wave A tends to move 0.85 times that of wave C equating to a 326.635 point drop. Wave A’s portion of the larger wave tends to be 0.92 of C which would make C 81.08% of the larger wave’s move equaling 301.75 points. Wave B tends to move 0.47 that of wave C which would be a wave C drop of 356.38 points. B’s retracement of wave A in relation to C’s extension of wave A is 0.33. This could see C extend 182.79% of wave A’s move or a drop of 507.5 points. Wave B’s move % of the larger wave is typically 0.51 times that of wave C. This could mean wave C makes up 86.27% of the Intermediate wave 4 drop or a wave C contribution of 321.07 points. Wave A’s rise/run is 0.91 times that of wave C. C’s rise/run could be 7.6274 point loss per hour. At 44.5 hours, wave C could drop 335.61 points. Wave B’s rise/run is 1.05 times that of C. C’s rise/run could be 5.4076 points lost per hour equating to a total drop of 243.68 points. The chance of calculating total wave C point loss before the conclusion of wave B is a very rough estimation. This projection will likely be much more refined when I write next weekend. For now, I project C to drop around 350-383 points which is around 3110. Conclusion All told, I have provided windows and estimates for tops and bottoms for waves B and C. I am bullish until early 2022 and still foresee a steady 4-6 month drop beginning around the end of October early November. I would assess this has something to do with the U.S. election results or lack thereof due to ‘vote counting complications.’
SP:SPX
by StockSignaler
17
HYPE3: Wait patiently until the correction is over, then pounce!HYPE3 is currently in what looks like Cycle wave B of (IV). We should wait to see how wave C of (IV) unfolds, and then, buy as soon as we have an indication it is over to ride SuperCycle Wave (V). Since Wave (III) is larger than Wave (I), it is possible for Wave (V) to be huge and an extended wave. HYPE3 atualmente está no que parece ser uma onda cíclica B da (IV). Devemos esperar para ver o desdobramento da onda C da (IV), e, comprar assim que tivermos uma indicação que ela terminou e surfar a onda Supercíclica (V). Como a Onda (III) é maior que a onda (I), é possível que a onda (V) seja enorme e até mesmo extendida.
BMFBOVESPA:HYPE3Long
by geraldelli
Bitcoin - Next target is down at 7,611My preferred count shows that Bitcoin peaked with the test of 11,395 in wave (3) and wave (4) now is developing. Wave A decline to 9,250 and wave B, which has turned into an expanding flat correction, is expected to peak near 10,905, with an outside chance of making it to 11,227 before tuning lower in wave C. A break below minor support at 10,393 will indicate that wave C is developing. After an expanded flat correction either in wave 2 or B the following wave likely will be an extended wave and a 161.8% extension of wave A calls for a decline in wave C towards 7,611. This is also close or at the mid-line of the first pitchfork. Stay tuned for some high volatility swings in the weeks ahead.
BITSTAMP:BTCUSD
by EWS
5