Price action and chart pattern trading setup
TFD - Elliott wave analysis
> A possible 4-wave correction descending triangle with subwave B breakout expected to retraced 0.618 - 0.786 of subwave A scenario.
> Entry @ breakout triangle after downtrend subwave c completely retraced
> Target @ 5-wave upper resistance zone 1.618 wave 4 extension and 2.618 wave 1...
Price action and chart pattern trading setup
> Overall wave pattern moving in diagonal uptrend with a possible wave 4 triangle sideway.
> Now making a strong pullback to triangle support could be E- wave of ABCDE pattern at EMA200W zone
> Entry : A false triangle breakdown for a possible long entry between S1 and possible S2
> Target : bullish pennant at major...
Carrying on with our series of analysis on Kadena(KDA), our search for the bottom is nearing it's end hopefully.
In our previous analysis we identified a falling wedge pattern that could signal a reversal to the upside for kda, however it failed to do any good. Analysis with updates shown below(refer for context);
While we now have our buy region of $2 finally,...
we have to scenario
1 - start bullish impulse wave on 37400
2 - start bullish impulse wave on 28855
Scenario 1:
The position is designed to accept that the fourth wave is over, and the second wave runs the fifth major wave, and if the price is maintained between 37,500 and 38,800, the position is activated and moves to the next ascending micro 3...
Ethereum just like Bitcoin declined from our projected wave 3, which means wave 4 is on the move. We see really nice psychological support @300, also 38,2% fibonacci retracement and channel support for wave 4. We expect a bounce from those levels back to all time highs into wave 5 above @400-450 levels.
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ETHUSD Update: The 279 support was tested and held as price has bounced back up to 300 but this market looks poised for a minor consolidation with 306 being a tough resistance at the moment.
I will begin with the wave count since it offers the best perspective on this situation. Elliot Wave can be very complex especially if you get too detail oriented with it. It...
ETHUSD Update: Higher high established at 316 with a minor retrace unfolding. There is a nice motive wave formation that can provide clues as to how much further this market can go before a more significant retrace.
I have been writing about the 250 to 280 resistance zone which this market pushed through without much hesitation taking it into the 306 to 349 zone...
EURUSD has completed a series of bullish impulse moves and may be ready for a 38.2% correction down to fourth wave support. To add to the possibility of a correction, wav e1 price range is approximately equal to that of wave 5. Daily trendline support sits above wave 5 peak. Entry was placed at the close of previous candle with SL above wave 5 and target at .382...
