Facebook has seen an amazing rally since the September 2012 low at 17.55. This wave rally should be close to completion - Ideally near 187.17 for a correction in wave . As wave was a simple and deep zig-zag correction, we should expect a complex and shallow correction in wave . The ideal target for this wave correction is seen in the 114.77 - 115.93 area....
Bitcoin continues to accelerate higher, with only minor corrective declines on the way (also seen in the US indices). The next possible upside target for wave 5 and (3) is seen near 7,800. That said, we should be aware of a possible extension closer to 9,150 or even towards 10,783.
Correction for 1-2 week i guess
We have had a abcd corrective wave complete. I'm seeing a possible change to catch wave 3 to the downside. USDCAD has been very bearish that mixed the downward movement on the DXY means I still have a very bearish bias
USD/JPY has been correcting in wave 2 since the 118.67 high in mid-December 2016. This wave 2 correction completed at 107.30, just above the 61.8% corrective target at 106.85. Wave 3 higher is now developing and should continue to higher towards at least 126.41 and more likely extend higher to the 161.8% extension-target of wave 1, which is seen at 138.23. Third...
GBP/JPY is now breaking the long-term resistance-line near 144.10. A break above this resistance-line confirms continuation higher towards 147.90 and above here confirms a rally to at least 161.03.
LTCUSD Update: The 70 to 73 area target has been taken out upon new all time highs. Wave 3 of 5 continues with the 84 level as the next proportional target, but don't forget, as price goes higher, risk goes higher also. This market along with a few others like ETH and BTC are in a relentless uptrend that is obvious. What you do not want to get caught in is the...
LTCUSD Update: Bullish breakout confirms strength and opens the door to the proportional target zone of the 70 to 74 area, while new support levels provide attractive reference points to buy. This market has been a mystery to me because while BTC and ETH were making impressive moves, this market stayed quiet. That kind of behavior is always suspect because often...
ETHUSD Update: 315 resistance breaks and subdegreee Wave 3 is in play just as I wrote about in my previous report. For those of you who go long in the 280s and 90s, 345 is my first target and 374 is my second target. Clearly a bullish catalyst has sparked the rally, at this point I do not even know what the catalyst is, I can just tell by the vertical nature of...
ETHUSD Update: Market structure and wave count support the argument that this market is poised to reach the 350 resistance soon. It is a matter of catalyst. First the 297 swing high needs to be broken, followed by the 315 resistance. The 315 break will signal that the next leg up is in play which can take this market to the 350 area that I have been writing...
FBR Fastbrick Robotics (FBR:ASX) Moving nicely LONG on Intermediate Period with a start SHORT for Wave 2 Minor within Wave 3 intermediate. A good entry point for this stock will be on the completion of Wave 2 on the Minor period to go LONG Reference to my previous chart here: 15th August 2017: Fastbrick have announced, Robots to assist building homes in Saudi...
BTCUSD Update: New all time highs, which should not be a surprise. The question is: Is the current retrace a minor one? Or does it have room to test lower supports? Elliott Wave provides some interesting perspective to help answer these questions. First I want to mention ETH for a moment. I was debating whether I should write up another ETH report, or BTC, or...
It seems Litecoin is on a bearish Impulse 3 wave and will continue to the low Peak before a pullback. This Impulse move seems to be on the Minor period time frame and isn't performing as previously expected. TDI continues to show bearish movement as the RSI approaches the lower outer band in preparation for a Sharkfin out of the water. The blueberry EMA has been...
Continuing on from my initial analysis here: It seems that we have almost confirmed the head-and-shoulders pattern and it is possible we are in view of the start of an Elliot wave 1, 2 and now going onto Wave 3, on the 4 Hour and Daily charts. TDI shows bands are widening with the close still mid way between middle of band and upper band, thus suggesting possible...
As per my previous analysis here: Breakout of structure has occurred and it seems that we may be at the start of an Elliott Wave 3 in progress. Price action has not been able to breach the lower major support area and is now bullish in trend. It also seems that a borderline FLAG pattern 'may' be forming, which may also confirm the possibility of an elliott wave...
The Hydroponics Company FPO, which manufactures Medicinal Cannabis, seems to be ready to breakout of a wave 2 structure, where TDI shows the middle of the range band has just been passed, which most likely indicates additional moves downwards before a breakout of structure to begin a wave 3 impulse on the 4Hourly and Daily charts. Not enough price action exists...
I'm looking for wave 3 to complete at 12.67, where wave v of 3 will be 61.8% the length of wave i thru wave iii subtracted from the top of wave iv. It should just be a matter of time before wave 3 completes and a corrective rally in wave 4 takes over. As the correction in wave 2 corrected a large part of wave 1, we should expect wave 4 to only correct a minor...