MrRainbow

MrRainbow Updated 

It was said in chat 8% rise in gold predicted this year. I drew these lines on in Feb, and although $3500 by August sounds a lot, the chart looks ok. Again, just a bit of fun for the scrapbook.

MrRainbow

Pure speculation I was just looking at this wave and drew confluence down. bit o fun for the scrapbook and those who do not deserve my greatness. 😋 No "Likes" please, I'm British.

MrRainbow Updated 

Following on from my last look at this correction (see previous ideas linked), the correction from 3 is so high it has made many think this wave over. And perhaps it is, but we can't say that yet. on some exchanges 4 did not cross 1. And even if it did there is the possibility of an extended down. The other scenario is the wave is over. We have had A and are now...

MrRainbow

So I think it's reasonably clear the market has turned for a while at least, anticipating a revisit to the bottom level of our current level before heading on towards the previous high of 25k for btc. the bias is wrong if we have a substantial break of this level In terms of elliots in the daily it's still messy but we could be printing the B from the 1 (where I...

MrRainbow

so the obvious play is back into the fill zone before down. generally, if it retraces before getting back into that area we will see up, if it wicks up before the down we see down (the 2 options). I'm leaning up but it doesn't matter much in the short term (next 12 hours) we see down then up. examples below .. but these are generalisations not a rule!

MrRainbow Updated 

replaced last 003 idea. it was wrong, but keeping the bias after some more TA Last wave looks like a 5 with the huge profit take a triple top and trend break. so lining up a short around the green box on trend retest. wave 3-4 retracements are tricky especially when the current trend is a retracement itself they can often be quite short. I expect alts to stay...

MrRainbow Updated 

so after the last leg down when I was expecting retrace or better, I feel this has a good chance of bottoming. seems to be setting up for a classic 3 point bottom. The trouble with longing these is it's nearly impossibile to tell where the 'B' will finish. looking at previous bottoms in short time frames it can be seen the 'B' can go well beyond the 5th wave, and...

MrRainbow Updated 

2 trades, only 1 will trigger, the other will cancel. a) if we drop first it's a bully sign and maybe we making new highs, long to previous high. b) if we keep climbing without a retrace, it's a short squeeze and we go for the short somewhere near the previous structure break. there is option c) which is it drops without making another bottom and just tanks......

MrRainbow

Rare RL glimpse of avenue telling the nation to buy the dip

MrRainbow Updated 

We're accumulating on the way down now which is causing a slow correction. Quite a wide entry range, good place to ladder? We don't know if this is the last dip so SL is important. I'm already commited at this point, it's tempting to add but I don't like to get greedy

MrRainbow Updated 

It's been looking quite bully at the bottom with the last waves being very quickly bought back up at 33k and 34.5k. Three peaks at a trend change is normal, no?

MrRainbow Updated 

I think we've just finished wave 3 which was the big bear trap, and we're now making a 4 which becomes invalidated > 2846 Hard to say where it tops, but there is volume concentration around the 2820 mark along with well formed resistance. Expect to come back to at least retest the structure of the previous low.

MrRainbow Updated 

SO you need to get short but keep losing money because you FOMO? Here is my answer. (ignore time points in this idea, I have stretched it out for clarity)

MrRainbow Updated 

This C is in all honesty, the first wave I've ever traded with any confidence. I lost on the way down in the 3, but I'm starting to read the market quite well, I feel. So I'm trying out short term prediction skills with this idea. What level we reach? I don't know, but somewhere along the projected line.

MrRainbow Updated 

So what I've noticed over the last couple of days is quite large efforts to push price up in the hopes of large bull traps for whales to offload into the market. This also goes some way to explaining why the previous correction went so high (45.5k), when the market is still looking very bearish in the atmosphere of global recession. As distrubution phase pumps...

MrRainbow Updated 

you know that move you thought was over? Yes it's wave 1. We get a lot of that in wave 1. This is not something to long, it's something to hedge for. How high it goes fuck knows.

MrRainbow Updated 

It's hard to pick this out because there are 2 options for how to count these waves in the day period. Large 1's are expected when we going into a large change of direction, but the main reason I opted for the "big green 1" is that all of that wave has the same feel to it. There is a change of wave character after that and what I consider the "green 3" looks a...

MrRainbow

quick long on this corrective run for matic, trying to hit the confirmation on the 2 for the rise up. May below entry, S/L at previous W1 hight, if it goes past then we have read the waves wrong.