Looks like we've an extended wave C. There is a ending diagonal triangle which suggest a trend reversal. Also you can see the bullish divergence de RSI is offering us.
Notice that the price has broken the strong resistance around 11.54 levels. I thing this is just a market move to clean all easy longs around that price before the next bullish rally starts.
After the triangle we shoud expect a bullish rally till around 58-62. We are in the third wave (iii) within the major wave III.
You can also see how the RSI is making a strong bullish divergence
Double bottom, followed by strong buying and a pre-breakout structure. Anticipating a breakout to follow this structure with 3 possible target areas, the first one being the high probability one of course.
Between 42.60 - 44.20 is the range to be retest for its support strength if Bullish is valid.
If it is valid, I would enter from those levels and target for Target D.
With Scale in strategy. From the Fib levels that is bisect with previous high.
Eventhough Friday closed down on wide spread it is a quite bullish signal. Why: because all of that wide spread was backed by low volume which in Wyckoff law of effort and result is little effort resulted in strong downmove which is an anomaly, some would call it false breakout.
To back out theory of false breakout we have low volume weekly downward movement, if...
Bitcoin has been giving bullish signals, i have had many different indicatiors giving me confidence in this long position.
i have actually been bullish since closing my short at 593-595 range, just wanted confirmation on different time frames.
Taking fundimintals into consideration makes this position solid. the ongoing global economic slowdown, continuing US...
Readjusting the elliot count as the movement evolves.
There is an accumulation process going on at ibex 35. Big sharks are accumulatting positions around 8700-8800 to start a major bullish rally. We will have a few bearish sessions ahead till the accumulation is done.
It will be a wave III rally: strong, fast movement and tons of volume.
In worst case scenario,...
Last month we took a few long positions and we got out before the bearish movement which I think is over now and time for another long position which we already openned earlier around 1.71128 area.
A bullish rally is about to start on the spanish index. The famous ibex35 is in its way of a major wave III with a very clear continuing diagonal triangle at wave II.
Bullish positions till arount 9000-9150 and then get ready for the wave IV to come, probably on a sharp rally due to elliots wave alternation rule.
Maybe we there is a fair chance to be involved in...
after a successful sell, time to buy as GBPJPY 's gonna bounce on a monthly support. Let's put a buy limit on this monthly support that will be test. what ever the bounce 100 pips minimum to take.
GU will be rejected in the trend-line, the question is where is going to stop, there are 3 possible takes (1.34, 1.371 or 1.422) lets keep an eye on it
