I think we get a last move up to grab plenty of liquidity before seeking out a new low. Long term I am bullish on btc but waiting to accumulate.
Looking at a 5 RR short, ideally I will wait for a distribution to play out and get in with a tighter SL than pictured.
I am currently thinking audusd is grabbing liquidity before a move down. I am bearish short term but after a correction looking to load up for a long. Note where the oscillator is, but also there is a lot of bullish momentum still (big green weis wave).
Purely from a TA perspective I am looking to short DOWJ right now. We perfectly pinged the top order block after the positive inflation report today, given that the weekly oscillator is overbought I am l feeling bearish at the moment.On top of that, this recent rally isn't backed by any decent relative volume.
It looks like we are in the final phases on a wyckoff distribution.
Applying elliot wave analysis on the daily chart you can clearly see we are in an uptrend to grab liquidity near the all time high. I used a combination of volume + price, fib, wyckoff methodology to mark up this chart. If you want to learn more I owe any of my TA skills to www.tradingview.com Disclaimer: If you don't know proper trade or risk management, then...
We are getting to the end of a monthly elliot wave cycle and I am expecting a reversal and distribution pattern to play out. I am not going to try to catch the very top but wait for a stop loss hunt/UTAD to play out. I do think we should see exhaustion of buyers soon. The peak in volume and evil wick we got recently I am taking as a sign of weakness, buyers...
US 30 appears to be about to finish an accumulation and start the 5 wave shown. I will either enter at the spring or SOS if I see the right volume and retest of the wyckoff schematic.
If corn respects the large ATH resistance area then we are looking at an monthly ABC correction. Watching for a distribution to play out on the daily chart to short.
Corn looks to be continuing an uptrend, Just completed SOS and starting 5 wave up.
AMD looks to be in a corrective move right now that should go further down to collect liquidity before initiating another uptrend. I'll be waiting and watching for confirmation of the uptrend.
I am watching HUBS for a correction to play out in the form of a Wyckoff accumulation and will be waiting for the SOS to get in on the uptrend.
The value of BTC is graphed on a logarithmic scale in order to help compare recent price fluctuations to older ones. This is a guess at where the price could go next, if the lower trend line is broken and tested it will be seen as very bearish.
NASDAQ:ADBE Extending to the left you can see the monthly 0-1-2 fib extensions, on the right are the 2-3-4 fib extensions. As you can see there is still a lot of room to the upside on the monthly 5. Looking down into the weekly, you can see we have just finished a 2-3 move up out of a Wyckoff re-accumulation. At the deepest part of the monthly 4 you there was...