Based on my Fibs and EW. Lets see how this goes.
My EW and Fib observations make me think we have one more down leg to come. LTC has not bounced as well as BTC did, and not even close to what ETH did. So if either BTC goes down some, or especially if ETH takes another dip, LTC will surely make a new low. This is not what I WANT, only what I am thinking. Actually, I do want it, would love accumulate LTC in...
The larger correction is starting to appear like an ABCDE instead of just an ABC. So looking at three possible scenarios. The red 'e' is probably the ultimate target of the correction. But I think there might be some bounces before, thus the 12345's before then, unless this proceeds without any bounce.
Looks like an impulse 12345 ended, hoping to scalp the ABC down.
Here are my two updated targets based on last week's price action. I expect a bounce as I post this, THEN I will look for a short. I will update this idea as things develop.
Looks like a 12345 up is complete, and into a resistance zone. Expected either an ABC correction, or a full blown 12345 impulse down (which could be the A of a bigger ABC) Watching for now, waiting for signs of Yen strength or Dollar weakness Always risky to trade against the trend and the trend has been strong.....
I think EU will brush if not break 1.1800. A stop hunt below would make prefect sense. Right now I think EW has one more small wave down to go, before any bounce. Have been riding a large short, looking to add more. I added some on previous tiny bounce. Now looking for another scalp.
Assuming correction is NOT over, here are two quick possibilities I am watching for.
New Week = New Pivots. Last week the pivots played an important role, even during chaotic downturn. Last week started just below the new weekly pivot, rejected, and continued down. This week the price is starting a little below the new Weekly Central again. Bulls will expect price to at least come touch the Central Pivot sometime this week. Bears will expect the...
ETH has fared very well compared to its two brothers. But it needs to retrace bit to that bulls can jump back on board. $700 retest with a confident bounce should put us back on the uptrend train. This is critical zone for ETH. Holding the wave-4 parameters (bouncing from above wave 1) would give bulls confidence. If it falls much below 700, then bears will be...
Just throwing this out there to see what sticks, not trading
Looks like a blow off top, Stochs ready to turn down, pulled the trigger on a small position, might add later
Looking to short, waiting for signs of rejection around my red zone
Just triggered, based on hitting fib and pivot
My fibs say 8850 possible shortly. If so, then it should be end of down wave.
I am already in short for a longer term (for me) trade. This is sub-Plan, on possible bounce zones to watch to add to shorts. USD has been tearing it upwards, so the bounce may not come yet, and it might bounce much.
AU has fallen a loooooong way. But it might have a little bit more to go after what appears to be a wave 4 correction up. I am looking to go long eventually, at the end of the multiple wave 5's. So am looking for one more dip.
Watching for a USD/CAD long entry. Looking for roughly 1.27 or 1.28 signs of bounce. I think Oil continue to go up in price for a while. Canada econ seems to be doing OK. Dollar has had a run, might be time for a small pullback.