WaveAlchemy

WaveAlchemy Updated 

This wave count states that 1) minute 1 is complete and 2) minute 2 has unfolded as a descending triangle. In light of recent price action (namely the invalidation of *MINUTE ALTERNATE 1*), there is evidence to support *MINUTE ALTERNATE 2*; That is, that we have a triple bottom and lower highs. This is a much preferred wave count than what was previously...

WaveAlchemy Updated 

Hi all, This wave count states that 1) minor 3 is complete and 2) minor 4 is unfolding as a contracting triangle. This count suggests that if wave 5 is to equal wave 1 in length, price may exceed termination level 2, which is fine. In my opinion seeing minor 4 end here is better because it is more conservative. Larger triangles are certainly more reliable...

WaveAlchemy Updated 

Hi all, This wave count states that 1) minor 4 has unfolded as a double zigzag and 2) minor 5 is underway as a regular motive structure. In building the case for Primary C red level 2 termination, a clear complex zig zag can be counted for minor 4. Termination level 1 has been discounted.

WaveAlchemy

Hi all, The essence of the elliot wave principle is fractal. Long story short, wave development at a lower degree determine wave development at a higher degree AND vice-versa. *MINUTE ALTERNATE 2* is based on the premise that minute 2 pink has already terminated. Price may have reversed @ 1330s, but a closer analysis suggests that the reversal may only be...

WaveAlchemy Updated 

This count is based on the assumption that *XAUUSD 4 HOUR BULL (MINOR ALTERNATE 1)* is correct, in that minor 4 has terminated and that minor 5 is underway. Here is a closer look at the subdivisions of what could be the early stages of minor 5. This count states that 1) minute 1 is complete and 2) minute 2 is underway and near completion as an ascending...

WaveAlchemy

Hi all, This wave count states that 1) Cycle A is complete and 2) Cycle B is underway as a simple zig zag. At this point we must consider the possibility that cycle wave b purple could be near completion. A wave count that supports this hypothesis is when wave B purple is unfolding as a simple zig zag. In my next publication for gold I will investigate...

WaveAlchemy

Hi all, This wave count states that 1) super cycle 1 green is complete and 2) that super cycle 2 green is underway.

WaveAlchemy Updated 

This count states that 1) minor B is complete and 2) minor C is underway. In the related idea, I mentioned that I would consider an unconventional count and as such I will resort to the possibility that minor B may be unfolding as an ending contracting diagonal. Elsewhere, on higher degree, the idea that primary 4 red is ongoing development remains intact. At...

WaveAlchemy Updated 

This wave count states that 1) minuette wave 1 green has completed but its subdivision is unintelligible and 2) wave 2 green is currently unfolding as a prolonged regular flat. Price is located within wave A blue of micro wave 4 purple of subminuette wave c orange. We should expect some more upside movement before starting wave 3. However if price establishes an...

WaveAlchemy Updated 

Hi all, This wave count states that 1) minor B of intermediate 1 completed as a very shallow expanding flat and 2) minor C of intermediate 1 is near completion. Price is located within minute 3 of minor C of intermediate 1. Usually, wave C is equal to wave A in length. This will be target 2 for minor C. However, current price is located at 61.8% the length of...

WaveAlchemy Updated 

Hi all, Minor degree alternate 1 states that waves A and B have completed and that wave c is unfolding as a motive structure. If invalidated before more up movement, I shall publish either minor degree alternate 2 which states that wave C has already terminated, and/or minor degree alternate 3 which states that minor wave C is still unfolding except...

WaveAlchemy

Hi all, This wave count states that 1) intermediate 2 completed as a shallow expanded flat and 2) minor 1 of intermediate 3 is underway. This wave count is extremely bullish. Minor 1 of intermediate is near completion. The subwave structure of minor 1 is indicative of a potential extended 3rd minor wave, determining that intermediate target 1 ought to be...

WaveAlchemy Updated 

Hi all, A steady and healthy up-trend for the S&P. My first or main e.w. count locates price in intermediate wave 3 yellow of primary wave 5 red of cycle wave 3 purple. Primary wave 2 red unfolds as a running flat and completes at 23.6% retracement of wave 1 right after establishing a clear motive structure downward labelled at minor degree blue. Like the...

WaveAlchemy Updated 

Hi all, In my previous publication, I mention that cycle wave 4 purple ought to be quick and short by the guideline of alternation. Here cycle wave 4 purple unfolds as a simple zig zag in which waves A and potentially wave C unfold as expanding diagonals Primary wave B red terminates at 38.2% the length of wave A red, fitting the characteristic of a running...

WaveAlchemy

Hi all, To begin with a very long term elliot wave perspective, cycle wave 2 unfolded as a regular flat. Its subdivision was slightly out of character exhibiting the appearance of a motive structure which is unlike a wave b of a flat. However waves A and B fit the wave count of a regular flat. Otherwise, despite lack of wave B, the correction demonstrates the...

WaveAlchemy Updated 

Hi all, Wave b black has completed as a complex running flat, as opposed to on-going triangle construction (alternate 1 - refer to linked idea). Wave 2 pink is equal to 0.618 the length of wave 1 pink, suggesting the possibility that minor wave 1 blue could be in its early stages of development. Immediate price action may find resistance at ex-support trend...

WaveAlchemy Updated 

Hi all, AUDUSD 1.15% is recovering confidently post brexit referendum and heading towards descending primary channel line red. Structural wave formation of minute 2 pink unfolds as a double three, in which minuette wave w green constructs as an inverted flat correction 3-3-5, and minuette wave y green of wave 2 pink is forming and possibly near completion of...

WaveAlchemy

Hi all, Some adjustments were made to this count (refer to related idea), namely with wave C blue. As expected the down move occurred, completing wave D blue of the possible triangle formation as a simple zig zag labelled at minute degree pink. The brexit motivated shorts found support at 61.8% retracement of wave c. Fundamentally, this technical analysis for...