Coin_Analyst

Coin_Analyst

Price action from $1355.21 on March 26, 2018 to ~$1316.31 on April 27, 2018 is corrective (3 waves) for XAUUSD. Besides, XAUUSD’s (Gold) downswing from ~ $1352.19 on April 19, 2018 to ~$1316.31 on April 27, 2018 held above the support 1 between $1314.34 and $1315.99. The implication of the above is that XAUUSD should resume a bullish move back upwards as part of...

Coin_Analyst

Price action for the S&P 500 from January 29, 2018 till present date has been captured in this analysis using a contracting triangle Elliott wave structure. The implication of this structure for the S&P 500 is that price should resume its bullish trend once a breakout occurs out of the triangle. Breakout point as used in this analysis is ~ $2718.51 The post...

Coin_Analyst

My previous post for the EURUSD which called for a sell off can be found here: EURUSD based on FXCM’s data (chart used in this analysis) finished the sell off close to the second target area of ~1.20582 mentioned in the post last week. Price action from ~1.23793 on April 19,2018 to a close of 1.20715 on April 27,2018 is identified in this analysis as double...

Coin_Analyst Updated 

My previous post on the EURUSD can be found here: It was mentioned in the post that the EURUSD was possibly in a minute wave ((c)) position that is part of an Elliot wave combination (W-X-Y) structure that commenced on April 2, 2018. Price action did not invalidate last week’s commentary by closing above ~1.24104, so it is likely that the EURUSD will continue...

Coin_Analyst

Price action of Litecoin (LTCUSD) from ~$113.08 on April 10, 2018 to ~$165.47 on April 24, 2018 is interpreted in this analysis as an ongoing impulse wave (5 wave) move in which a Minute wave ((iii)) just terminated or perhaps a Minute wave ((c)). Either scenario however does call for a correction in Litecoin which is currently ongoing, after which LTCUSD is...

Coin_Analyst

Ripple’s (XRPUSD) price swing from ~ $0.47 on April 6, 2018 to ~$0.92 on April 20, 2018 has been identified in this analysis as a 3 wave (A-B-C) that terminated a minor wave degree (Minor wave W). The implication of the above is that Ripple (XRPUSD) is currently in a Minor wave X (a correction). Completion of Minor wave X should be followed by Minor wave Y which...

Coin_Analyst

My previous post on Ethereum can be found here: It was mentioned in the post that Ethereum (ETHUSD) was likely going to test the bottom of its current bullish channel before any bullish action that would reach the upper line of the channel. Price action rather continued its bullish action breaking the upper line of the channel temporarily i.e. reaching the...

Coin_Analyst

Price action in this analysis from the price bottom of ~ $13.16 on April 6, 2018 to current date has been captured in a price channel with a minute wave ((iii)) position that just ended. This implies that a correction is next i.e. Minute wave ((iv)). A guideline for the terminal point of wave ((iv)) is at the 38.2% retracement of wave ((iii)). The 38.2% ($19.89)...

Coin_Analyst

Price action for Bitcoin (BTCUSD) from ~6,050 on February 6, 2018 to present date is identified in this analysis as a regular flat Elliott wave structure with wave B (Minor degree) finishing close to the origin of Minor wave A. The implication of the above is that Minor wave C should at least retrace 100% of Minor wave A. If this is the case, Minor wave C of...

Coin_Analyst

I was looking at different FX charts last night when I found the Daily tf of the CHFJPY.I had a look at its chart to investigate the development of price action so far. What I found that jumped at me from the screen was this monster double top pattern. The first top of the pattern formed on July 11, 2017 and what is interesting to see here is that the first top...

Coin_Analyst

My previous post for XAUUSD (Gold) can be found here: It was mentioned in the post that XAUUSD (Gold) had perhaps going to resume a Minor wave B position and it was best to stay away as wave B’s are very difficult to deal with. XAUUSD finished last week with a -0.74% change. XAUUSD (Gold) is currently in a correction on the Daily tf that can best be...

Coin_Analyst

Price action of Ethereum (ETHUSD) from ~$394.06 on April 09, 2018 to present date has been captured in this analysis in a bullish price channel. The price channel is achieved by drawing the main trend line (in blue) along price lows and then placing the parallel to that line above the price high (~$528.36) made on April 13, 2018 (black line). The green arrows in...

Coin_Analyst

My previous post on Litecoin can be found here: In the post above, I mentioned that Litecoin would target between ~$142.76 and ~$146.29 (Target area) which is again shown in this post. Litecoin (LTCUSD) currently has reached this target area. The entire structure from ~$109.89 on April 1,2018 based on this analysis thus represents a regular flat Elliott wave...

Coin_Analyst

My previous post on ETCUSD can be found here: Ethereum Classic’s current uptrend on the 4hr tf has been updated with the possibility of a Minor and intermediate wave degree terminating at ~$13.15 on April 06,2018, which both support the establishment of the current uptrend. The most likely target for Ethereum classic is the 4th wave of the previous degree (i.e....

Coin_Analyst

Price action from ~$0.47 on April 6, 2018 up to ~$0.69 on April 13, 2018 has been identified in this analysis as a Minute wave ((a)) position. A correction, i.e. Minute wave ((b)) is currently on after which Minute wave ((c)) should follow. The implication of the above is that the price of XRPUSD (Ripple) should resume its bullish trend with prices moving...

Coin_Analyst

The meandering price action of the EURUSD is captured in this analysis in a descending triangle. This chart pattern is ideally bearish. A close above ~1.24900 is marked as the point of invalidation (POI) for the bearish implications of the 4hr EURUSD descending triangle. A breakout below ~1.22398 means that the EURUSD could possibly decline to ~ 1.19298 which is...

Coin_Analyst

The price swing in XAUUSD (Gold) from ~$1310.23 on March 20,2018 to a close of ~$1358.21 on April 11,2018 is identified in this analysis as a 3 wave move (corrective) with the possibility of a Minor wave degree (wave A) terminating on April 11,2018. This Minor wave is part of a combination (WXY) Elliott wave structure that commenced on January 25, 2018. If this...

Coin_Analyst

The 4hr of the EURUSD currently is identified in this analysis to be in a Minor wave C position that is part of an Elliott wave combination (W-X-Y) structure. Red lines on the chart indicate resistance where the EURUSD is expected to hold before continuing its downtrend. Point of invalidation (POI) for this analysis is a price close above ~1.24104. Ideal point...