WaveAlchemy

WaveAlchemy Updated 

Hi all, I will provide some explanation, entry and targets after making another alternate count. P.S. do not risk trading fundamentals today Ivan

WaveAlchemy Updated 

Hi all, Intermediate wave b black appears to be unfolding as a contracting triangle where some 3's are complex.

WaveAlchemy Updated 

Hi all, So here is an update on alternate 3 count, since its confirmation (refer to linked idea). We are in the very early stages of a minute motive structure pink to the downside. Minuette wave 1 green unfolds as an irregular impulse structure whereby the 5th wave is truncated. Afterwhich price established clear corrective patterns within subminuette...

WaveAlchemy Updated 

Hi all, As expected, Aussie continues to make lower lows, and should ensue a near completion of orthodox lows of higher degree. We saw some wave overlap in the Alternate 2 Assimilation count (see linked idea). This price action gives us two options to consider; either 1) re-evaluate the termination of wave B which avoids the problem of overlapping because then...

WaveAlchemy Updated 

Hi all, I am looking to add to my aussie short. In the alternate 2 assimilation wave 4 was ambiguous. It has moved up too sharp and too quick. A development of wave 4 would have likely pushed price higher - that is above the end of wave 1. With that being said I do not have the option to await such development because strictly the impulse labelling is not...

WaveAlchemy Updated 

Hi all, here is a closer look at how minute wave c green may unfold.

WaveAlchemy

Hi all, This count is based on the assumption that the market hasn't seen lower lows prior to 1994 (PLEASE Correct me if I'm wrong). That's to say that the price action we see here, is a bullish correction. The stifling decline from the most recent orthodox high at cycle degree torque (2008) will be added as an extension to the corrective structure (because it...

WaveAlchemy Updated 

Hi all Updates: *Alternate 1 DISCARDED* *Alternate 2 TO BE MODIFIED* ________________________ Minute wave y pink forms a double ending diagonal within minuette zig zag structure green. This is completely valid as an ending diagonal is a variation of an impulse so this structural count is still 5-3-5. Ending diagonal within wave c green experienced a very...

WaveAlchemy Updated 

Hi all, This count reflects current bearish sentiment. It sees that minute wave 5 pink to still be unfolding as a zig zag labelled minuette waves abc green. Wave b green appears to have terminated. But this can only be confirmed once price moves beyond 0.7298. Regards, Ivan

WaveAlchemy

This count assumes recent up trend has terminated ((Wave (A) black)) Subdivisions remain mostly the same. The subdivisions of minor 1 is simply relabelled with one lesser degree. Wave (A) does not subdivide into a motive structure at minor degree blue. Instead we could see the up trend subdivides into a double three, labelled WXY blue. Wave Y however is not...

WaveAlchemy Updated 

Hi all, Lower trend line is adhered to almost perfectly, providing confidence in the idea that wave 4 may be over. However this doesn't conform to the ideal look since wave 4 usually takes time to develop and is not sharp. But given that the recent low at the tl ended at a typical fib level, I will make the exception that wave 4 at minor degree blue has already...

WaveAlchemy Updated 

Hi all, Here is the modified count for alternate 2. Instead of a regular flat, price managed to put in highs well beyond start of wave a orange. Therefore current structure development for minute wave 4 green could be a running flat. Invalidation = 1.44744

WaveAlchemy

Hi all price made higher highs, calling for a recalculation of alternate 1. Alternate 2 appears to be the more probable count. Subminuette wave b orange = 1.05 x wave a. Price opened below the channel this week. IF wave 4 moves beyond the end of wave 1 in the alternate 2 count, alternate 1 will NOT be confirmed. Recent highs must be legitimately integrated...

WaveAlchemy

Hi all, Here I present both scenarios (refer to linked ideas) in one chart to get a better feel for what it is that could happen. I've slightly modified the way I label the count. I now prefer that a main count should not be established or even mentioned until all other possibilities are eliminated, leaving one count to remain. This count will then automatically...

WaveAlchemy

This alternate count is based on the premise that corrective wave 2 especially at high degrees usually retrace sharply and deeply. So there is no reason that price or minor wave 2 can't push above 0.382% of wave 1. Also 0.382% fib line (refer to linked idea - main count) has been breached which supports this idea. In calculating alternate counts, the re-label of...

WaveAlchemy

Hi all, In the related idea, I argued that more upside was to be expected and this was achieved by movement to .382. However a little more upside is still possible, to satisfy wave equality at minute degree pink. Currently I am observing that minuette wave c green has a healthy and typical look in its subdivisions. A breach below the orange channel will give me...

WaveAlchemy

Hi all, Here's a snapshot of a closer look at how Intermediate wave A could manifest. In this time frame we should see a major trend reversal. nonetheless to keep things in higher perspective, however significant the actualised bearish movement we may see, it will be counter reacted in equal or greater strength as we are generally in a corrective phase that...

WaveAlchemy Updated 

Hi all, Alternate Hypothesis: "if price fails to complete higher highs, it will reasonable to assume that the subminuette motive structure has completed and to therefore expect a major trend reversal from recent orthodox highs at minor degree." Minuette wave c green is equal in length and quality of minuette wave a, within minute wave structure. Price is...