BitCoin hit new lows, but we still see it as correction. Instead of triangle it's a flat correction within uptrend. We expect a bounce from support arround 38,2% fibonacci retracement and between 3600-3800 levels back to new highs into wave 5. ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
Dash trapped in wave 4 triangle like BitCoin and LiteCoin. We assume that Cryptocurrencies are in positive correlation, so we have to track this triangles. Triangles are typical for wave 4, so we are expecting new highs in next days/weeks and @500 psychological level can be seen. ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
Since my last update on June 23 - 2017, we saw wave 3 bottom at 12.53, which was just below the expected 12.67 target. Since this low wave 4 has been unfolding as a flat correction. I'm looking for wave 4 to complete in the 15.54 - 16.03 area for the next impulsive decline in wave 5 towards 9.98. Stay tuned for a top and new impulsive decline soon.
ETHUSD Update: Head and shoulders formation appearing under the 306 resistance. Is this a sign of a reversal? How does the BTC pullback factor in? I will address these questions. Also the magnitude of this consolidation has prompted me to reevaluate my wave count. First is the head and shoulders which most of you know is a bearish reversal chart formation. Yes...
ETHUSD Update: Triangle unfolds as BTC and other alt coins make higher highs. The fact that price is not breaking below the 279 support is a sign of strength BUT this lack of participation is concerning. The 306 resistance zone (.618 of bearish swing) seems to have muted the bulls that were pushing this market higher. As a result, a symmetrical triangle has...
In my opinion, Bitcoin seems to be completing a Wave 4 Triangle formation and will soon breakout of structure to start wave 5 LONG. It seems Wave 3 has already been completed and provided another base Resistance level. Wave 5 target range would be largely due to the impending Aug1 SegWit, as information was provided on my previous analysis here: which it...
BTCUSD Overview: Without getting into the detail on a 15 minute chart, I want to provide a broader view based on price action with some perspective on wave counts. It is clear that this market is currently in a Wave 4 triangle. You can count 5 subwaves within the formation (I left them out for chart clarity) which means there is a good chance we may be forming the...
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...
It has been a while since I last updated my count on Feeder Cattle. In my update from August 8 - 2016 I called for wave (A) to be in place at 134.25. The price-action that followed, doesn't really support wave (A) having completed and therefor, the preferred count has been changed, to this count, which shows that only wave 3 completed at 134.24 and the ongoing...
It seems we have a beautiful setup on this pair, with a Wave 4 on the Intermediate Period possibly half way before confirmation of Bullish Bat/Bullish Butterfly Harmonic patterns to then trade the SHORT on a wave 5 Intermediate. These moves are quite large which means I will trade the wave 4 up to possible entry #A (and if it continues upwards to Entry #B, I...
I have gotten in on this trade... As of now it looks like the 4 has more room to go up and is going to see how high it can climb before coming down. From what I see it has a lot of room to soar; the ceiling (Base of wave 1) is high. Soooo, I thought... if I were to calculate for that, what would it look like??? And this is what I came up with...
it is a complicated corrective pahse abcde, now AUDUSD is heading to e to complete the corrective phase. Then we might have a BIG move to the downside. Selling opportunity will be around 0.78 area. Happy trading
USDJJPY has hit a critical resistance level. We may see a retracement from the 104.150 quarter point ending the Wave 3 impulsive drive; however, using MACD and trend analysis, USDJPY has a lot of bullish momentum left to go. Enter retracement once price has crossed the red median line in Andrew's Pitchfork.
Our last post highlighted the idea that Wave (E) may not have been completed (see related link) and it appears that alternative has come to fruition. We were expecting a move down to the 61.8% fib ratio of Wave (C) but we have moved well past that. The next target would be $613.58 which we may have just hit (or almost hit) while I am typing this. This would...
As of my last post, numerous signs pointed to Wave (E) being complete. With this morning's move down, it re-opens the idea that Wave (E) is not complete (although it still could). If Wave (E) is not complete then we have a good target for when it may complete. The price target would be $630.09 which is the 61.8% fib ratio of Wave (C). Typically Wave (E) will...
Several signs are pointing to the ABCDE contracting triangle being complete: Looking at the daily oscillator, you can see that each wave in the ABCDE corresponds to prior to the daily oscillator's fast (gray) line passing the slow (purple) line. The daily oscillator's fast line just passed the slow line giving us confirmation that Wave (E) should be complete. ...
My previous chart is still in play although the timing may have been off. There are currently three scenarios in play: Wave 4 has already concluded and Wave (5) up has begun. (I do not believe this to be the case since the move up has not been impulsive which would be required for a wave 5) We are still in an ABCDE triangle pattern which is what I have...
GBPUSD has reached the top of the channel and retreating back again.. If we are still correcting as I think we are in a Primary Wave 4 then GBPUSD would go down from current levels all the way down to the bottom of the channel and probably make new low to complete Wave 5.. However, if it goes higher and keep on rallying from here then we are probably in new Wave...