UnknownUnicorn10209036

UnknownUnicorn10209036

So we have been stuck in this reverse triangle or megaphone for a while now. This pattern suggests shift of power between bears and bulls within the triangle causing it to make higher highs and lower lows. It’s a nightmare to trade for new traders. Megaphone pattern is complete and market is supposed to take direction of B wave. we have just completed a leading...

UnknownUnicorn10209036 Updated 

So that's my preferred count. Its an Expanding Triangle keeping everyone on the edges. E wave doesn't have to touch the upper line. But should either complete in 5 subwaves of smaller degree or 3 subwaves. Can only make sense that it will be ABC three waves as an E. So that wedge type structure has formed as a B wave and C wave coming to complete E? Larger...

UnknownUnicorn10209036

A WXY in progress. where W was a zigzag. X was a Triangle Y in progress looks line a flat There are three type of flat corrections Regular, Running and Expanded. Keeping the target low considering possibility of a Regular Flat.

UnknownUnicorn10209036

I will keep it to the point- So we re in Subwave 3 of Major wave 3. Wave 1 was a diagonal Wave 2 Retraced .50 Wave 3 in progress - subwave 1 complete subwave 2 Retraced .618 Subwave 3 just started Wheat has a lot of catch up to do compare to others as below:-

UnknownUnicorn10209036

WXY correction. In x C wave truncated. Currently In a triangle pattern as a B wave, where in a ABCD E wave has penetrated above the triangle. But pattern is bearish. Because market takes the direction of B Wave. Objective trade with stop. Low volume suggests validity of the triangle pattern

UnknownUnicorn10209036

Note - Logarithmic Chart After a motive wave correction can land anywhere in wave 4 area. In this case of XRP .618 level of the motive wave confluence with the end of wave 4. Any confluence you find in charts is a key point in technical trading. We are in a WXY correction now correcting the A of Y as a B. Targets for B in a Zigzag is .38 or .50 of A. In a zigzag...

UnknownUnicorn10209036 Updated 

After impulse we are in correction phase. Typically correction falls in subwave 4 range which is .38 level on fibbs applied in chart. But this correction is taking longer than expected which makes me lean towards calling it a combination. Now in a WXY X can be any pattern of a correction. In this case its appearing as a reverse diagonal as X and breakdown will...

UnknownUnicorn10209036 Updated 

Looking at the bigger picture i believe we have completed Primary Wave 4 and 5 is still due. Now we are in Subwave 2 of 5 in a C of 535 Zigzag Digging Deeper Please like or comment

UnknownUnicorn10209036 Updated 

Wave 5 ended with diagonal. A larger collection taking place. ABC Zigzag. Sure feels like that. What do you say ? BTW am net long on crypto.

UnknownUnicorn10209036

This correction may last longer and go deeper. Motive wave is complete. It doesnt look like Major wave 3. If it is Wave 5 and the top was completion of the Cycle from 2009 - 2021 then whole crypto could extend losses further. What your thoughts?

UnknownUnicorn10209036

The larger picture The type of correction took place as a wave 4 The RSI

UnknownUnicorn10209036

We just completed wave 3 and now in a wave 4 correction. Entry in the gap area which coincide with fibbs level .50. will go with a 10% stop loss. Profit taking at the Top line of the Triangle. Break of the Broadening Triangle may send wave 5 to the moon. Check my previous idea in the link

UnknownUnicorn10209036

Currently in wave 4 correction. Expecting a Triangle or a Flat

UnknownUnicorn10209036 Updated 

Wave 1 was roughly 10x, subwave count provided in orange numbers Wave 2 wave was long complex correction Wave 3 was roughly 7x, smaller than wave 1 Wave 4 looks like 335 expanded flat. Wave 5 in progress ? As you can see wave 4 fits perfectly with alteration rule because wave 2 corrective wave was a long complex correction. But wave 4 was flat correction....

UnknownUnicorn10209036 Updated 

I believe we are wave 4 correction and this looks like a Zigzag and now a connecting wave x has overextended. may end up like a wick and will show like a double top in relation to ath. And wave y is still due which could be any three type of correction. here is the count. wave 4 can retrace anywhere but should not go in wave 1 territory.

UnknownUnicorn10209036 Updated 

The recent rally in Copper prices sure feels like a wave 3. Volume is great. In wave 3 according to RN Elliot is usually the most powerful wave in a trend. Prices rise quickly and corrections are very short lived and shallow. Anyone looking to get in on a pullback will likely miss the boat. As wave three starts, the news is probably still bearish, and most market...

UnknownUnicorn10209036

The Bird took a remarkable flight. It was flying higher and higher. And as it got bigger and bigger got attention of Pterosaurs. It was brutal and the Bird had no chance at newly discovered high skies. It got badly hurt but it wasn’t over. Bird escaped with a sharp dive and took shelter undercover. It has been recovering and been feeding on some worms in the cage....

UnknownUnicorn10209036 Updated 

Trying to make sense with Elliot Wave. Nothing wrong with labelling that motive wave of Intermediate degree. Now correction taking place A and B looks complete. C in the progress which should be made of 5 sub waves of minor degree. As we see wave 4 in progress. For wave 5 target at Fibonacci .618 which is also a SR level. Usual case scenario is that after a...