GBPJPY Setup 2.0 ready for wave 3 🌊This is my updated setup.
Waveforecast based on fib retracement, extension, time-based,EWO
Wavethree
$CGC<>WeedStocks<>ElliotWaveGrandSuperCycle<>WaveOne>LONGAs title suggests this is the longterm elliotwave on CGC to take us to $1300 per share by ~2028.
We are currently commencing the wave 3 of the 3 of 3 of 3 of the long term Grand Super Cycle wave 1.
We can expect the most impulsive move in the history of CGC, weedstocks, and therefore the World over the next few weeks.
>ElliotWave<>3degreeComplexWXY<>COMPLETE<>ImmediateUpside<>LONGAS the title suggests, we have completed wave 2 of greater wave 3. Expect immediate upside, major impulsive move incoming as wave 3 commences.
This correction was 3rd degree (in orange) complex WXY with 2 5 wave moves enclosing another complex WXY (yellow) flat, which itself is another 2, 5 wave moves enclosing another complex WXY (green) flat which itself is made up of a simple ABC zig-zag and a simple ABC flat with a 5 wave down move move to complete.
Here is a zoomed out snapshot of the interior wave 3 of the greater wave 1 we are currently in.
>wave 5 of concentric 3rd of 3rd of 3rd <>elliotwave<WAVE3><as the title suggests.
we have entered wave 5 of an inside wave 3 which is a third of a third of a third.
continuing upwards over the next few months as we unwind wave 4's of concentric degrees.
Trading the Elliott Wave Principle - Part 1 - (2)This chart is part of our educational article "Trading the Elliott Wave Principle - Part 1."
What If We Just Completed Elliott Wave 2?When in doubt, zoom out. I changed the chart to the 1W view and started wondering... What if we just completed Elliott Wave 2? Elliot wave 3 is the largest of the 5 waves so we could be in for a wild ride. $1,000 EOY is an awesome meme (I wouldn't be mad if it happened) but it appears that $10-$11 EOY is definitely in play. This would put the price somewhere around $12-$13 somewhere in the first quarter of 2020. As always, price could push higher and that would be great but organic growth takes time. bottom line is, buckle up because this rocketship is about to take off.
*This is not financial advice. I am not responsible for losses of money.*
GBP/JPY Long position for wave 3Momentum improving. After extended wave 1 and corrective wave 2.. It appears as if wave 3 has already begun, a couple of buy points seems sound, if 141.8 - 142.0 is broken and daily closes above, buy. Or buy at the support level 140.0 or on the 200 MA retest , the choice depends on your risk appetite and if the market is generous enough to allow us to buy at the support level again. Both cases the risk to reward ratio is sound
Copper - A strong impulsive rally towards 2.64 is expected My preferred count shows that copper saw an important low in mid-January at 1.9355 and a strong rally higher towards 2.6410 now should be expected.
From the 1.9355 low a nice five wave rally was seen to 2.3235 as wave (i) and wave (ii) was clearly a three wave zig-zag correction that completed at 2.0130.
Wave (iii) started to move higher from 2.0130 in a pretty messy fashion to 2.2775, which I think was and expanded leading diagonal as wave i and was followed by an almost equally messy wave ii down to 2.1330. It now looks as wave ii completed at 2.1330 and wave iii of (iii) higher is ready to develop.
The first strong indication, this is the case, will be a break above the minor channel resistance-line near 2.1945 for a rally higher to 2.2775 on the way higher to 2.38 and 2.64.
AUDNZD The big wave is coming Let's see that's happen if that worth for trading keep look and 1.049 price never low then 1.048
