Nickonomics

Nickonomics

Trending indicators signal more selling in EURUSD. 1st target is set @1.18 level, though I project the pair to go lower.

Nickonomics Updated 

Things aren't looking good for Ether in the short term. According to my wave model, the drop below 280 is very likely, with pitchfork's median line being a dynamic target level.

Nickonomics

In my previous update I anticipated more gains for Ether and warned of a possible correction: Although the correction was quite deep (nearly 30% from the top), the short-term uptrend remains intact. So, more buying is quite possible. If the price moves beyond this pitchfork, the trend shifts to neutral with more sellers to come.

Nickonomics Updated 

Given high short-term correlation between these two pairs (~0.9 @H4 chart), I'm joining them together into one idea. In both cases Wave 5 seems incomplete, so there is room for more gains.

Nickonomics

After completing a 3-wave structure with Triangle pattern in wave B, XRP is poised to go up. It may be an impulse wave with a target at 0.2800, or an A-B-C correction with 18% growth potential. Anyways, I feel like buying.

Nickonomics Updated 

My previous call was to buy ETHUSD at $198. It was profitable indeed: Currently I'm expecting more buying to complete a 5-wave impulse. Price has broken above the pitchfork, which indicates buyers' strength. If a candle closes below $283, correction will be more complex. Uptrend will still be intact.

Nickonomics Updated 

In my previous idea I signaled one more wave down for ether to complete the wave structure. The target was @ $182. And the price hit it: Currently we're seeing an impulsive bounce to the upside. It may be part of a bigger move up. Upside potential is 13-17%.

Nickonomics

My view is that this is the breakout we needed to trigger this H&S bottom pattern and set sights on $224 area, which is the first target. $199 is current POC ( heavy volume level, simply speaking ), mind this level, as it should be the last barrier. Event risk: Tomorrow's bitcoin hard fork. This may actually be beneficial for large alts like Ethereum.

Nickonomics

The market seems to be ready to go for all time highs now. There is an Inverted H&S ( trend continuation pattern ) and an incomplete _5-wave structure that support the bullish bias. All three trends are now up. Also, check my ETH idea, as it seems to be moving in the same direction:

Nickonomics Updated 

In my previous post I expected the price to make a new all-time high soon as there was a clear 5-wave impulse developing with 4th wave being a Triangle. Unfortunately, the Triangle was never formed, but instead it transformed into a Flat correction (A-B-C) with Triangle in wave B. This formation is very similiar to the previous higher degree correction. Just look...

Nickonomics Updated 

The price is likely to sink further down to $182 level because there is an impulsive wave developing now. There is a Triangle in wave (iv), and a move below $192 generates a sell signal with at least 5% downside potential.

Nickonomics Updated 

In the previous update I identified the move from $2980 to $1830 as a W-X-Y correction within a rising trend and expected bullish sentiment to set in. The first target was $2760, and here we are now. Currently I expect the price to make a new all-time high soon. There is a clear _5-wave impulse_ developing with 4th wave being a Triangle. Key price levels are...

Nickonomics Updated 

Previously, I anticipated a minor pullback from $220 to Fibo levels before a new move upwards. Schiff pitchfork was applied as a price channel (resistance). Now the pullback has likely ended, and a move beyond $237 generates a buy signal.

Nickonomics Updated 

It's been a long time since I posted ETH ideas. The last one was quite successful as it called to open short position just below $287 level: Now we see that the correction took form of a Flat pattern (3-3-5). It doesn't look impulsive, so there is no immediate threat to the main trend, which remains uptrend. On this chart I apply modified Schiff pitchfork as...

Nickonomics Updated 

Previously, I identified a bullish Inverse H&S Pattern, which targeted the $2200 area. It worked out to our benefit: The upward momentum continued with price breaking out of the pitchfork boundaries. The short-term trend has turned neutral from negative. I've changed the wave labels from A-B-C to W-X-Y correction, which is more accurate and, more important,...

Nickonomics Updated 

In my previous post I anticipated more selling towards 1929-1935 and 1850 targets. All of them were met. Switching to intraday charts, we're seeing a bounce, which may lead the price up to the current resistance zone @2200. Inverse Head&Shoulders pattern supports this idea. Short-term trend remains negative as long as the price stays within the pitchfork.

Nickonomics Updated 

In my previous update I suggested going short BTC on break of 2307 level. It proved successful: The sell-off halted @ the median line of Andrews' pitchfork. Nevertheless, I expect more weakness ahead as the short-term downtrend progresses towards 1929-1935 target and, possibly, below 1850.

Nickonomics Updated 

My recent Triangle-based setups have proved very efficient. XRPBTC chart: ETHUSD chart: Now we see the coiling price action in BTCUSD. These wave analysis labels suggest lower prices for BTC as part of an A-B-C correction. My criteria for going short is the break of 2307 level (candle close below). Also drawn on chart is Andrews' pitchfork, which is used as...