Pvgeldrop

Pvgeldrop

Hello again, I am considering a very interesting scenario on XRPUSD for the foreseeable future. Earlier today I wrote a post that explained that I believe we are now a triangle that acts as the fourth wave of an impulse wave up (you can find the link to that in Related Ideas). In the chart, you can see that we started the A-wave of this zig-zag at $0,11. From...

Pvgeldrop Updated 

Hello everyone, Feel free to comment and subscribe if you like. Do keep in mind that this is not trading advice, and that you should always make up your own mind. That being said, XRPUSD appears to be forming a triangle as a fourth wave. We have several strong levels of support around $0,2056 and $0,20, and I would expect that last wave of this triangle to stop...

Pvgeldrop Updated 

An interesting pattern developing on LTCUSD. After a leading diagonal up, we reached the high on the left side of the chart. From that point, we went into a leading contracting diagonal down, followed by a zig-zag back up. The present pattern appears to be an expanding -leading- diagonal of the wave C of this downwards correction. The reason that I label this...

Pvgeldrop

As these posts are mostly for my education and entertainment, do not take them as trading advice. XRPUSD recently finished a leading diagonal from the low of March 13th to April 7th, where it reached a point of $0,205. I would have expected a rather sudden drop down from there, as leading diagonals do tend to lead to those. However, there were some interesting...

Pvgeldrop Updated 

It seems XRPUSD is presently nearing the end of a leading contracting diagonal. There are a few rules to be observed with these, and the price action of the last couple of weeks abides by them so far. In a leading diagonal, waves 2 and 4 have to zig-zags (I've drawn those in); it's clear in the chart that they are. Wave 1 was also a zig-zag, albeit a very large...

Pvgeldrop Updated 

Again, this is mostly for my own education and entertainment as I work on my daily practice of counting waves. Having to draw the patterns and describe my thoughts helps me in better understanding things. This isn't trading advice. Trust me on this. Just look at my last analysis and see how utterly wrong I was; you don't want to trade on this. :P After a recount,...

Pvgeldrop Updated 

I'll keep this short, as it's mostly meant for my own education. We started off with an zig-zag correction (W), followed by an expanded flat as (X). We have had the A-wave of the (Y) wave downwards, and are at the moment of writing in what appears to be an ending diagonal on the B-wave. The ratios seem to make sense, and I believe my lower level wave count also...

Pvgeldrop

My thoughts on XRPEUR in the present situation. A possible leading diagonal as the first wave of an ABC-correction. That is all.

Pvgeldrop

So LTCUSD appears to be in the B-wave of an ABC-correction after it's first wave downwards of the last wave 5 of a higher degree. We completed a clean impulse wave up from $75 to a little over $80 as a wave A, and are now in a corrective B-wave inside a corrective wave 2. At least, that's what it looks like at the moment. Trading corrections is tricky enough as it...

Pvgeldrop

We might be heading for another drop in LTCUSD very soon. After a complex 2nd wave correction, we might be finishing the 2nd of the 3rd wave of a higher degree downwards now. Playing this one very close to the chest with a stoploss slightly above E in the correction ($81.6). If we continue downwards, the range of $72-$70 is in play. If we go above the $81,6, that...

Pvgeldrop Updated 

The chart should speak for itself. We previously had a complex correction, so should be getting a zig-zag correction now. The A-wave appears to have finished, after which we'll head for the area of $76. Wave C should be reaching $80; this corresponds to a correction of nearly 78,6% retracement of the previous wave, over 100% extension of wave A, be near the...

Pvgeldrop

On a lower degree, I posted earlier that we're most likely heading up into a third wave. This was, however, on a lower degree. I also wanted to take a look at the bigger picture since the hardfork of BCH. I believe we have finished the second wave and have started into the third wave on Cycle-degree. That would mean we're presently in wave 3 of a wave 3, so I am...

Pvgeldrop

Looking at BCHUSD over the past period, I believe we are presently either in the start of wave 3, or at least in an area that isn't going to much lower for the time being. Looking at the chart, we've had an impulse wave up (wave 1 in dark blue), followed by a deep ABC-correction (wave 2 in dark blue), retracing to 91,8% of wave 1. Even if the present correction...

Pvgeldrop

LTCUSD might very well be on its way to develop into an extended third wave in a downwards impulse. To confirm this, we'd need to see the present subwave 4 to rise above $118 before making another leg down. After that, a wave 4 on a higher degree, followed by the last leg down in wave 5. An alternative wave count would be that the present wave 4 stays below $118...

Pvgeldrop

ETHUSD very nicely followed my expectations in the past days, heading down swiftly into a wave 3 of an impulse wave. We'll have to see how the rest of this wave plays out, but I'm expecting another drop to around $555-$560 before we start our upmove into wave 3 of a higher degree. This would complete the fifth wave in our present correction, setting up nicely for...

Pvgeldrop

LTCUSD does not seem to be finished in its present correction (wave 2 on a larger degree). After an impulse wave up, I noticed an impulse wave down. Seeing as an impulse wave down after an impulse wave up can only be the first wave down in a correction, I'm expecting the present price action to develop into another impulse wave down (wave C). Based on Fibonacci...

Pvgeldrop

I'm expecting the present sideways trading to take a dive in the upcoming days, heading below (or very close to) the previous low in this correction. Risk to Reward is 1:1, and with MACD, Volume and RSI not showing me any evidence that we'll be heading up, and my wavecount still needing an C to finish, I'll bow to the facts I see and take the trade.

Pvgeldrop

The chart should explain itself, I think. I did a rather extensive analysis on ETHUSD in previous posts, estimating a good place to start a long position around around $540, with a possible bottom of wave 2 of the present degree between $500 and $450. Even though that bottom didn't come into play as deeply as I had expected (bottom was at $503), I still built up a...