A quick update to my wave count posted about two months ago. I modified the timeline of the labels - price targets remain the same. The sideways movement lasted longer than I had anticipated. Price stability in the low 400s area created a nice base for the recent rise in price.
Review the old post on cryptowaves.com for detailed commentary. Note that I changed...
And so, after a little break in falling down, in the middle of august '15, EURO continues his journey to the south. Perhaps, now there is forming an ending diagonal in the wave 5 (or c). Why do I think so? As we can see, there are a lot of correction waves (ABC), both up and down. Therefore, there are two possible scenarios:
The correction up will continue in...
Corrective phase of a huge impulsive phase on weekly TF.
Impulsive waves on lower TFs like 4hr or 1hr.
Break of purple channel is a trigger for going short to catch wave 3 of A.
For those intimate with Elliott Wave counting, check out this chart.
The EUR/USD and AUD/USD have been diverging in price over the past few days creating some large moves in the EUR/AUD cross pair. The Elliott Wave picture has a wave count that suggests a wave 3 of iii underway from the Jan 19 low. If this is the case, then prices are likely to aggressively...
ABC wave pattern seems to be complete. But is the correction complete yet? Looking at last weeks price action we cannot discard a prolonged flat correction .
But I will still be looking for long opportunities, as I expect wave 3 to the upside.
I can figure out 2 cases of this pair:
1st case. The correction seems to end @ major trendline start from wave 1 (up trend) . I refer this case.
2nd case: The correction still in Zigzag and continue to break out bellow previous LL and travel to make a C leg.
In both cases, we have a narrow zone to buy and sell with good RR!
Thanks
There is a pullback in a channel formation forming
The 4 Hour is hovering around the trend line, however the 60 minute is showing a lack of bullish power.
I will look for a trade entry breaking below the channel
Price reaching 1.11000 may see a push to the upside, with long orders triggered.
Watching to see.
Gold has a couple of bullish interpretations listed below. Before I get into them, even though this piece is about 2 bullish interpretations, the market can prove both of them wrong so please don't expect this to be 100% correct...nobody has that magic wand in their hand.
The preferred count is the wave 3 higher written about 2 weeks ago is still alive, albeit...
EURUSD has potentially completed a minor wave 2 correction and may be ready to resume strong bullish movement in wave 3 of (3). Entry above S/R after breakout with SL below top of ((i)) of 1 (movement below this level will invalidate EW count). 0.5 of primary bearish impulse is an aggressive target, yet not out of reach with an upcoming 'third of a third'...
The same idea with previous forecast. I plotted the overlap zone which reject wave 4 of a possible impulse wave. So, I determine this is a corrective wave.
The next question is DOES the wave end or not. This corrective wave reach near to 61.8% fibo level and did not overlap the 1st wave, price also bounced up .
Trading strategy: I assume that price is...
At the risk of sounding like the boy who cried "WOLF!" too many times, I have re-adjusted my current wave count and now it seems a "wave 3" has just started. It is the nature of the market that it is unpredictable and we can only take our best guess at what is actually happening. This is why counting waves is an art. Not a science. Wave counting is dependent upon...
Did that headline get you excited? Who doesn't want to catch a wave 3, right? So my thorough analysis says a wave 3 is the next move. But when and where will it start? Or has it already started? Can you still catch it if it has? If so, where would it be best to catch it? All these questions will be answered....in due time! So let's get started with why I'm...
This is an alternative setup based on my prior trade idea.
This setup has now a confirmed ABC elliot wave pattern that normally gives potensial for high R trades. The tradesetup has a RR of 4,3 with entry at 2080 and stop at 2079 and target at 2088.
Target is now at a typical Wave 3 level that has the confluence with higher timeframe supply. I will consider...
1) Significant Double Top formed between 46.00 - 48.00 levels
2) Price has retraced back to Neckline and begin second impulse wave.
3) Price has broken 64 Month Uptrend Line and may transition within a projected down channel
The near term projected path of least resistance, will be for price to continue downwards.
It is also likely that the price will trade...
![BTCUSD: BTC / USD in Potential Wave [3] - Updated Chart](https://s3.tradingview.com/k/kaJ5wuZV_mid.png "BTC / USD in Potential Wave [3] - Updated Chart")
