The Price action on Weekly multi year chart appears to resemble an ongoing Expanded (Irregular) Flat pattern within the Elliott Wave Principle school of thought analysis.
The Fibonacci Extension levels of Wave B (1.236% & 1.382%) are at 51xx and 5324.
The market opened up around 5305 today Wednesday 4/3.
The next resistance level we see market testing and...
Price closing the week under 5189 will be very indicative and send further signals of bear strength impending.
The complex large degree is a Wave Y that is unfolding in 3 waves ; IMO we're currently in Wave Z of third wave of Wave Y.
In laymen's terms, as long as price remains below 5189, the bias is that we should retest 5100-5056 area of support.
The overall impulse move from it's inception to the 69,000 levels of 2021 were in a clear 5 wave fashion; this lasted nearly 10 years.
Then the whole impulse move was retrace to roughly 78.6% Fibonacci level.
The retrace price action has been particularly choppy, inidicative of a Wave A in a 3-3-5 a-b-c pattern setup.
The biggest indication that the Bitcoin...
Today we reassessed our Triangle Pattern count on the S&P500. Although per Elliott Wave Guidelines, the triangle pattern is still permissible. We explain in this video how intra Day Price action is confirming a Push Higher to test Targets.
Firstly Targe 3645.99. Next ..
1.236 x Length wave (a) - 3676
1.382 x Length wave (a) - 3696
We use Cross Market Analysis to confirm our individual analysis of Eurusd forex pair.
S&P 500 we see in a Triangle pattern of 4th wave proportion
EurUsd looks to be in some sort of Correct price patttern to be exploited short term by Bulls to the next target of 1.1890.
If Price Breaches this level we shall see 1.1920 area.
Trade : Long Eur Usd @ Market...
We see a potential for what would be ultimately sideways complex Elliott Wave pattern Structure. We see the current price action and impending retest of 13,880 as the key Resistance Level. If price action fails at this level our Proposed Preferred Count is extremely validated.
Fade into the Resistence level with Tight Stop above. Could be irregular flat but...
