Good Day Viewers!
SIGNIFICANCE:
We already have witnessed bullish moves of ETHUSDT since few months as a leading altcoin of Majors. Ethereum 2.0 has mad it a demanding security affecting it Fundamentally and Technically.
ELLIOT WAVE PRINCIPLE:
We can notice a typical extended third wave completion followed by a pennant in corrective wave i.e wave 4 and hence...
Good day Viewers.
SIGNIFICANCE :
Due to equities market movements all markets have faced a corrective move, however now liquidity is vanishing away from Bitcoin & as we have already seen big surges from LINK, ATOM and other alt-coins today.
Possibility of same movements from other bullish altcoins is likely to occur, in which VET is one of them which we are...
Thinking in alternatives.
I suppose there will be a double failure swing high, a 1-2 1-2 in wave 3, which means a sizable downward pressure towards 2500 as the blue waves represent.
But there is another alternation. If the falling red channel breaks upward, then there is one more rising wave. This is illustrated by the purple waves.
We will see which one is in...
I expect the AUDJPY will break out of the channel up, and then the rising trend will accelerate in third of the third wave.
After the price goes through wave B I will be strengthened in this idea.
Now the 64.85 could be the Stop level, but if you would wait for the breaks for more probability then the next higher high could be the stop level.
Looking at the SPY, I have tried to identify wave patterns.
My current view is that we are finishing up wave 3
near the 2.618% extension of wave 1 at around ~$365
Wave 3 looks to be extended with 5 sub divided waves which also contains an extended sub third wave.
Wave 4 corrective target is set to $250
at the 23.6% retracement of wave 3.
This would have the wave 4...
The next few days Crude Oil may perform a good correction based on rumors of production cut. But overall trend is still bearish. Around 39$ sellers may come into play. Although, in my opinion bottom is near. I'll be following Brent chart, because there technical picture more clear than WTI. Share your thoughts about WTI.
