TWTR - Long the breakout for bounce!TWTR completed the A wave of ABC correction for wave 4.
Long the break out to target around 0.5 fib level.
Elliotwavecount
ICX - Good buy between $0.2- 0.3$ ICX has been in a pretty strong downtrend. It made a corrective 3 wave down up instead of 5 wave impulse up that would suggest that it has another leg down before short term trend reversal.
ETH is also weak and will make another leg down. ( very good indicator of health of alt markets )
Planning to buy between 0.2-0.3$ for best to risk to reward setup on ICX.
EOS - complete cycle count EOS has completed a 5 wave impulsive cycle and we are big weekly corrective trend from the genesis since it got added on Bitfinex.
EOS is about to complete the first leg in its corrective cycle to make the W leg of the WXY double zig zag at around $3.
Following which it will bounce up to make the X wave before making the final Y wave down which will take us to bottom.
BTCUSD Bull Run? Elliot Wave & Schiff Pitchfork 2014 & 2018Intro: Light at the end of the accumulation tunnel. Why a BULL Run is possible when comparing 2014 & 2018 Elliot Wave ABC Corrections and Schiff Pitchforks:
1) W correction is about a 70% price drop in both 2014 & 2018.
2) Both Y corrections extend to the 0.786 Fib Level.
3) A correction retraces to mean in the Pitchfork.
4) B correction extends to about the 1.5 Pitchfork line.
5) C correction retests the 0.5 Pitchfork line.
6) Current correction has touched the WARNING line (2.0 Pitchfork extension in a red dash line) and found support back in the 1.5 Pitchfork line.
Disclaimer: This is not advice but any trade entries at this point carry low risk and high reward if 2014 correction were to repeat itself.
Support: Comment & like if you agree or disagree. This is a learning community and feedback is always welcomed for my own learning curve.
BTCUSD: Elliot Wave 2014 vs 2018, The Case for the Bulls!!!Intro: By now you should be sick of the 2014 vs 2018 BTC comparisons BUT there are uncanny parallels between these two corrections regarding their ABC corrections and the Fibonacci Extensions. Here's what I'm seeing:
1) Three Lower Lows in 2014 and 2018 create our A correction (Zig-Zag Pattern).
2) The A correction DROPS about 70% in both 2014 and 2018.
3) Both C waves have a 0.786 Fibonacci extension.
4) A symmetrical triangle formation develops after the ABC correction to the downside.
5) An ABC correction forms to the upside.
6) The C Correction to the upside COULD reach the 1.618 in 2018 just like it did in 2014.
What Invalidates this analysis? A drop below the 2018 low ($5774.72 on Bitstamp).
Disclaimer: This is not advice. Entering a trade at this moment presents a massive reward and a low risk if the C wave extends to 1.618 Fib number and we hold the 2018 low. Even better, reaching the 1.618 fib extension means higher highs and a confirmation of a reversal.
Please comment and like: This is a learning community and your comments or questions make a difference.
BITSTAMP:BTCUSD
Take a look at my Gann Fan Analysis:
NZD/CHF DailyIt is at the first fork. Small ending diagonal 1hr. But there are 2 ways I can label this 5 wave, this is one where we would get an ending diagonal, or shortening of impulses as a wave 5 so keep that in mind. There are a lot of levels for price to hit so I would recommend being careful and patient for an attempt at a large up move, we are in a strong downtrend and impulse waves are fractal, but I expect at least a correction to be coming from this strong fib area. If it gives us a larger ending pattern, which would take some time (see NZD/USD buy I posted from the low) that would be the type of setup I would look for exact entry and 50-62% retrace of 5 wave down. It can come up some from right here but, be careful. See Weekly chart I posted
NZDUSD Elliott Wave Analysis: Double Correction Taking PlaceHello Traders,
NZDUSD short-term elliott wave analysis suggests that the decline to 0.6543 low ended red wave 1. The internals of that decline unfolded as impulse structure with lesser degree Minute wave ((i)), ((iii)) & ((v)) unfolded in 5 waves structure. Above from there, red wave 2 bounce is taking place as double correction higher with lesser degree cycles showing sub-division of 3 wave structure its each leg higher.
Up from 0.6543 low, the rally to 0.6719 high ended black wave ((w)) of 2. The internals of that rally also unfolded as double three structure where blue degree wave (w) ended at 0.6639. blue wave (x) pullback ended at 0.6609 & blue (y) of ((w)) ended at 0.6719 high. From there, the pullback in black wave ((x)) remains in progress as a Elliott Wave Flat structure to the areas of around 0.6626-0.6603 (Blue box area). Near-term, as far as dips remain above 0.65389, we expect pair to resume the next leg higher in black wave ((y)) of 2. We don’t like buying the pair and like to stay on the sidelines for now.
EUR/GBP Elliot Wave Analysis Sell Set Up!Look for a impulse wave to the downside to break out of the corrective channel then a small correction for a sell set up!
EUR/AUD Elliot Wave Sell Set Up Corrective StructureLook for the corrective structure to end soon and price to break out impulsively to the downside targets
USD/JPY Elliot Wave Analysis Watch for price to breakout of the corrective channel for a buy set up to finish the Flat correction then the sell set up after the structure is complete
Elliot Wave Analysis USD/JPY Corrective Wave Structure ExplainedWatch as I explain some basic Elliot Wave Concepts of Corrective Formations and anticipating the next waves. I Also breaks down the idea of an IF-Then-Thought-Process using Elliot Wave and reacting to price.
NZD/USDI have company arriving and don't have time to post or explain everything. NZD/USD at a pitchfork. So is Nzd/chf. Nzd/jpy is hitting the 200MA on monthly along with the 50% pitchfork fib drawn high to low on daily. Nzd/chf is now in a 5 wave down with a stunted 3rd wave, so I am still looking for a 3 wave pullback before final drop. NU might not be the best of the 3 to trade. NJ is very interesting. I'm not saying to just buy NZD, but watch out... Watch it... By the way, I am expecting long term bearishness on Nzd/Usd in a weekly wxyxz pattern that is moving down on wave "Z". However, it will have to pullback and confirm the down move, but in the current pattern it can still do one more up even breaking the high. Looking at the price action through the NZD pairs, I foresee decent buy entries upcoming. At least ones to get stops in profit if managed properly. But we are hitting multiple pitchfork fibs across the pairs right now...
Elliot Wave USD/CHF Potential Sell Set UpI believe price have completed an Flat correction now watch for an impulse to the downside then a correction to get Short.
Elliot Wave DXY Dollar Sell off Set Up Ending DiagonalThere is a strong possibility that we will see a US Dollar Sell off. We have a completed Bearish Bat and price is at a strong level of Supply. Also price is taking the shape of an Ending Diagonal Elliot Wave formation. I am getting out of my long positions where I have been buying the Dollar. Watch for this set up!
AUD/USD Sell Set Up Corrective Structure Triangle or FlatLook for price to make an impulsive move to the downside then a correction to get short. I believe price is near the end of forming a correction structure that has taken the shape of a Triangle of Flat, Both will point price to move lower
USD/CHF Wave Analysis Buy Set UpWatch for USD/CHF to finish the corrective structure which I believe is a running flat. Look for an impulse then a correction to get long and ride the wave up
Break on through, to the other side! Super Breakout!Well that was an awesome breakout of that resistance zone at 7800-7900! It held us down for all the previous 24 hours at least, and without even much of a retrace, bulls took hold and rammed it through.
I've adjusted my waves slightly since I was originally expecting a retrace back to the 6900-7000 resistance zone. (I left my original wave lines on the chart for now.) But that retrace didn't happen, so I accelerated the timeline of wave 3 and wave 4 and have currently assumed wave 5 was completed with this last bull run. My original wave 5 target is still shown in the Orange ellipse for my own benefit.
But what's even more awesome is the breakthrough of the purple down trend line that connected the last 2 highs from March 5 and May 5. There have been a couple retests of that trend line already in the last couple hours. At some point there needs to be a retrace, which I have attempted to forecast as one option with the ABC correction waves. This will bring us back under the purple trend line, at which point the bears will wake up and say "SEE! SEE! WE ARE STILL IN THE DOWN TREND!" And I will continue to laugh at them.
But with that said, this is obviously an opportunity to examine the potential for a short as we enter this retrace correction wave. Be careful with that and put in some tight STOPS. I'm staying long with my current positions, and may strengthen that position if we see a healthy retrace back to the 7000 range. I'll wait and see for that one.
Have a Great Day!
Copper- 5 wave impulse in correctionCopper counts and measures out to have done a textbook Elliot 5 wave impulse and is now in correction. Therefore, I would expect at least a 50-60% retrace. The 200MA on weekly and 800MA on daily appear to be fairly close to lining up with each other around the 50% retrace. Possibly a spot to get a buy setup for at least a small pullback. I think we should get another wave in order to turn this impulse wave into a 3 wave structure by the time it is finished. If we were to get a zig zag correction down to the 78% fib, then the 2.20 level should be of importance. I showed you equal length taking you back up to the .618 level. It came off the 1.618 extension of a small 3 move correction. Not necessarily a trade setup right this moment, just thought I would share the info.
Wave 4 correction is done (A Flat) now up for Wave 5Wave 4 correction is over, it was a Flat 3,3,5. Now we head up for the 5th wave, Target 1 9300 - 9400.
