myhumbleopinion

myhumbleopinion Updated 

Things seem to be clearer now as i think i have targets for wave b and c. As i said in the previous idea, i am not interested in going long from a to b or A to B because it's counter trend. A potential top for wave b is at ~ 7800 (top of pitchfork, local resistance, ~ 0.5 retrace level of wave a) and if that is correct then a potential bottom for wave c could be...

myhumbleopinion Updated 

In my last analysis i said that i would average my buying price around 7.8k and that's what i did but unfortunately i got stopped out. My last buy was at the 0.786 (7670) retrace level of what should have been the first of five waves up to at least 13k (100% extension of wave 1: 6k - 11.8k) Ok, so..i think we need a short recap. After the move from 6k to 11.8k we...

myhumbleopinion Updated 

Count 1.1: - target 9250 which is a 1 to 1 extension of wave 1 circled in black and it's also the target for the 5th wave within its 5th wave ( in the 5th wave circled in black, the 161% extension of wave 1 (small blue) is at 9300) - what i do not like about this count is the fact that wave 3 did not even reach the 1 to 1 extension of wave 1 and we had a wave...

myhumbleopinion Updated 

The ABC correction for the 3rd wave circled in black should have ended at 8450 which is exactly in the golden pocket retrace level of the 3rd wave and the high of wave 1. It bounced from there, it looked like its creating the first wave up but it retraced more than 100% creating a WXY corrective pattern. If wave A of Y has ended and we are now creating wave B and...

myhumbleopinion Updated 

Why am i inclined to believe that we are in a correction and not in an impulse wave up? Because i see bearish divergences on RSI and MACD on TF up to 1H. Possible targets for this correction (if my wave count si correct) 8.8k-8.6k. If you have a different idea don't be shy, share it, comment on the chart.

myhumbleopinion Updated 

If my EW count is correct then the ABC correction of the first 5 waves up has ended and now we should go to ~ 9.4K.

myhumbleopinion Updated 

If the price finds support at this level then bullish divergences will be visible on the 1H, 2H, 3H, 4H and 6H charts on RSI and MACD. If this happens then i will consider that the ABC correction (WAVE 2) of the 5 waves up (WAVE 1) from 6k to 11.7k is complete and i will target at least a 1 to 1 extension of WAVE 1 which is at 11.8k. Wave 1 6k - 11.8k Wave 2...