epistemophiliac

epistemophiliac

Prices have closed above the Ichimoku Cloud on the 15-minute chart and within the Cloud on the 1-hour chart, indicating that wave 4 is mostly likely complete. The first Elliott confirmation of the new trend will occur when we can count the first sequence of five waves up. If this wave count is correct, prices should not decline below the previous low at 1.0667.

epistemophiliac

Corn appears to be near the end of wave C of a flat. There is potential for greater decline before the next wave up, but all price targets have been met for a running flat so prices could reverse at any moment.

epistemophiliac

T-Note futures should begin a small decline next week. As wave 2 of 3, a reasonable target for this correction is the 50% or 62% Fibonacci level.

epistemophiliac

Bitcoin should continue declining until we can count five waves inside micro wave C. However, as prices are already closing in on the potential targets of 50% or 62% retracement, if any trade is entered now, it should have a low reward-to-risk multiple to avoid prices turning around before your profit target is hit.

epistemophiliac

I can now count five waves down in wave C of E, implying that minor wave 4 is complete and wave 5 has begun. I'm still waiting for prices to close above the Ichimoku Cloud on the 15-minute chart for confirmation because this most recent push up could still be part of wave C down, possibly forming a flat as wave 4 of 5. However, as prices continue to rise, the...

epistemophiliac

There is a clear count of five waves up so we should begin to see a small retracement at any time. Because the retracement will be wave 2 of 3, prices should return to at least the 50% Fibonacci level.

epistemophiliac

We can count a zigzag down and a zigzag up, implying that we should still have one more push down, likely another zigzag, before the end of wave 2.

epistemophiliac

It appears that the final wave C of the zigzag forming wave E of a triangle has begun. After this last push down, prices should move higher as part of wave 5.

epistemophiliac

It appears that corn has officially begun wave 5 of a leading diagonal. A fifth in a diagonal should generally take the form of a zigzag. Prechter, however, has noted that fifth waves in leading diagonals often appear to be impulses, so we might be able to count five waves up instead of three.

epistemophiliac

At any moment, SPX should begin declining for minuette wave 4 as prices are approaching the end of a fifth wave on three different degrees of trend. Because wave 2 was a double zigzag, wave 4 is likely to be a flat or triangle.

epistemophiliac

Bitcoin appears to be forming a combination with one zigzag already complete. There exists a good shorting opportunity with the wave X pullback.

epistemophiliac

Oil may be nearing the end of wave A. If so, soon we should see a decline before the next push up to complete the contracting triangle of intermediate degree.

epistemophiliac

Gold appears to be finishing wave C of either a flat or a triangle, although it's too early to say which one with any degree of confidence. If prices form a flat, gold should roughly follow the blue line. If they form a triangle, it should roughly follow the yellow line, creating another set of waves up and down before the next climb.

epistemophiliac

EURUSD may be near the end of wave A of the final wave E of a contracting triangle. Ichimoku Cloud and Heiken Ashi are bearish on the 4h, 1h, 15m, and 5m charts.

epistemophiliac

T-note futures should continue to decline approximately to the 108'26'0 (0.618) or 108'10'0 (0.786) level. Ichimoku Cloud and the Heiken Ashi candlesticks remain bearish on the 5m, 15m, and 1h charts.

epistemophiliac

It appears that bitcoin has started wave E of a contracting triangle. Look for one more push down before the next climb.

epistemophiliac

Prices should continue higher to the 4390-4560 range. Upon finishing minor wave 2, prices should make new lows during minor wave 3.

epistemophiliac

The euro is currently in subminuette wave 3 of minuette wave 3 of minute wave 5 down. The euro could experience a small pullback at any moment, but that will only be subminuette wave 4 of minuette wave 3, so it will be nothing to panic over. The overall trend should remain bearish for the foreseeable future.