As a regular flat, this looked pretty reasonable, and then we got another daily lower low on our current candle. Bulls should be worried that the area in the ellipse is an expanded flat and, if so, would imply further downside is ahead.
Bullish count in green, bearish count in red. Completed impulse off high of 18709 to low of 17181.75. Impulse had expanding leading diagonal to start. Bulls looking for B wave in 17765.25-18261.75 area. Bears may already have the 2 in at 17553.25. If low of 181.75 holds, bears looking for the 2 no higher than 17854.
Bull count in green, bear count in red. Tricky impulse down from 5333.50 to 4963.50. The question is whether the impulse is an A or a 1... if it is an A, I would think the bounce should be back up to 5148.50-5225.25 area. If it is a 1, the 2 could already be complete, but I wouldn't think the bounce to go any higher than 5123.25. The C or 3 should take us down to...
SPY continued up more than I expected but now there are multiple bearish pitchfork signs on the weekly chart.
An updated bullish count showing impulse wave 3 of 3 of 5 complete and wave 4 of 3 of 5 in progress. If this is correct, then wave 4 is looking like a zigzag, and I anticipate the (A) wave to complete between 4834.76 and 4929.37 before the bounce of the (B) wave starts. 5264.85 will likely be the top for the next several months.
Looking at EW triangle to still be in play. If bottom of the day (59729.39) holds as support, looking for impulse wave up to 70-72k area over the next week, with 72756.63 to hold as resistance.
Bull count in green, bear count in red. Area in orange ellipse started off as chop monster, more impulsive action since 12 April. Given the depth and price action since ATH, odds moving strongly towards top being in. I am now watching for a larger (and more complicated) leading diagonal setting up. Even we get a (temporary) bottom today and move back towards 5200,...
BINANCE:BTCUSDT COINBASE:BTCUSD 📈BTC 2H📈 ⚡️Quick long position with medium risk status.⚡️ Bitcoin may continue towards the announced targets without any correction. But if the price pulls back to the entry area , as long as it is above the pitch-fork (near white support), the long scenario will be valid. TP 1-2-3 and SL are on the chart. ⚠️Don't forget...
Although 15 April was a bearish day, and the daily price action continues to give us lower lows, I think the possibility of a leading diagonal is now less likely. 5213.25 is now key resistance, and I anticipate that resistance to hold and at least one more daily lower low before a bottom is found.
Bull count in green has wave 4 complete with a double-three, bulls need to hold 5150 and break above 5243.50. Bear count has leading diagonal 1 in progress, needs 51550 support to break and 5243.50 resistance to hold.
My bearish count has SPX topping out today somewhere below 5186.69, with one more daily lower-low (this week) to complete a contracting leading diagonal (1).
Aspen is consolidating in a symmetrical triangle, it has good support in the triangle and the median line of Pitchfork. On the weekly perspective we are in time for a half cycle correction hence I expect the price to resolve upwards. The stop-loss is R185.41
Expanding diag followed by a possible flat. If that plays out, I'd at least want to see the 1.13$ low revisited, preferably deeper though towards 1.05$ or even into the lower 0.90s. Zoomed out:
OKX:TONUSDT BINANCE:TONUSDT.P Hello traders. 🔵TONCOIN is my Second suggestion for the altcoin market.🔵 As you can see, the price has broken its long-term triangle structure. As long as the price rally is ongoing outside the pitchfork structure, the $5.7 and $7 targets are active.🎯 Considering the previous price rally, there is a possibility of a price...
TVC:DXY FXOPEN:DXY Hello dear traders. ⚡️ In this post I will track the DXY movements from 12 Apr - 18 Apr. 📈 What to Expect? 💡As long as DXY is above the midline of the pitchfork structure, the bullish scenario is quite valid. The bullish scenario targets are on the price chart. ⚠️Important Note⚠️: The price movement has been drawn a little...
The correlation with bitcoin before the halving is significant in my opinion and so while this descending triangle seems convincing the elliott wave count would say otherwise if correct!!!
It's funny, I haven't been trading crypto for over a year now but see that my old trend lines are still holding fast.
BINANCE:BTCUSDT COINBASE:BTCUSD Hello Traders. In this setup, our goal is to enter a buy or sell position based on price movements next to the middle line of the Bollinger band and pitchfork.✍ The price reacted negatively when it first touched this line and is now trying to stabilize above the middle line of the pitchfork.✍ The stabilization of the...