BTCUSDT is obeying the Elliott wave principle as expected from my previous analysis.
3RD corrective wave might be imminent.
Price is testing the flip horizontal resistance + flip trendline resistance + 0.5 fibonacci retracement level + minor ascending channel resistance.
As of right now there is no buy setup but i can see there is a huge trade to the upside potentially coming i am going to post/update the idea when i see a setup ready to long as of right just wait but definitely have this on your radar.
A quick update on Gold and the fourth wave is still in progress. As mentioned in the linked idea, I'm expecting the corrective sequence to continue into December and print a new quarterly low with the Horizontal support level at 1800-1765 providing some confluence.
I will be looking to take swing positions once this low is in as we are likely to get...
GOOD DAY TRADERS
PRICE IS PRESENTLY IN A DOUBLE CORRECTION WITH A FLAT AS THE FIRST CORRECTION AND WE ARE GETTING A ZIGZAG AS THE SECOND CORRECTION.
FOR THE ZIGZAG I THINK WE HAVE WAVE A AND B AND WE ARE LIKELY TO GET WAV E C IN THE WEEK
Here is a Elliot Wave Triple Three correctional combination which began since the last impulse move reached its peak (1689) in February.
The Zigzag pattern you can see between wave X to Z is the final corrective pattern of the three combinations which implies that the correction is coming to an end. Further confluence is provided by the nature in which the...
Now that the deceleration channel in play since Jan '18 is getting more mature it looks to be manifesting a falling wedge pattern.
I haven't figured out exactly what the structure of this correction is yet but it looks to be a possible zig-zag . Either way, the culmination of the wedge pattern looks to be sometime between now and Apr 2020 at which time the...
Price broke descending channel after elloitt wave completion and I'm waiting for a retest of structure/ previous resistance level, colliding with Point of control. I'll be waiting patiently for the this one.
It appears we pivoted. Bullish signals rang sounding clear. 1-2 pattern post pivot, beginning of Wave 3. Therefore, Fibonacci Goals in green, invalidation in red. Good luck - this is not financial advice.
Technically, appearing to be more at the end of the roll here, but that's ok. I don't recommend you trade fifth waves, because of it's many morphologies, and therefore a certain unpredictable nature. I believe the FibGoals, extentions of the third wave, to be those in green. There are three of them, and just because there are three, does not mean all need to be...