Price has been pretty easy to ready up to now as you can see an impulsive move up where wave (iv) is a clean Zigzag correction with a Triangle for orange wave b. This indicates that this move down is counter and not establishing a new down trend. Therefore we can expect price to go higher once more to finish blue wave (v). As you can see there's a nice Fib...
YEARN FINANCE - YFIUSD We have a nice big base here and the wave count suggests a potential Leading Diagonal with a very shallow wave 2 which indicates lots of underlying strength here. Otherwise, we might be in a Flat correction meaning we'll see price go below 37600-ish soon. Personally I favor the bullish view because of how RSI has been always staying...
We got a clean impulsive wave up and now seems to be correcting. I will be looking for price to make a corrective pattern while going down to the noted Fib levels, where the 61.8% level would be ideal support. So, give it a few days to consolidate before buying.
Shorting as long as price doesn't fill the gap. Stop for US100 is at 13800
DOTBUSD - Looks like it finished a Flat correction. Notice how price stopped at the 127.2% Fib projection of wave a which is a usual termination point for wave C of a Flat correction. Price is now at the VWAP from the high which could act as temporary resistance but as long as price remains above 26.6 I think it's going to go higher. Since I don't know exactly...
We are in a wave 4 correction unfolding as a triangle. Resistance is at 565/575 after which we could see a pullback down to 477 or even 450-ish before hopefully rallying higher above 638. The triangle pattern is invalidated if price goes now above 613.5 or below 429.
The usual target zone of blue wave 3 (161.8% to 200% projection) has been exceeded. In such cases price has a tendency to then go for the 261.8% Fib level which in this case is at 4467. But because we have a few important Fib levels forming a potential resistance cluster around the 3300/3600 zone, I recommend going for that at first. Only if that zone is broken...
I have 2 counts for Bitcoin at current level. First one you can see higher and the alternate one is here below. Count 1 : suggests we finished red wave 3 and are now consolidation for red wave 4. Seen how shallow the wave 2 retracement is, we can expect something similar and not too much out of proportions for wave 4. After this wave 4 pullback we could then...
Looks like price is still in blue wave (iv) correction. Support might be found around the blue box. FIY, waves 4 have a tendency to go a bit outside the channel so, don't freak out if that happens. Remember Horizontal support/resistance > Diagonal support/resistance !
ADBE - Made a WXY correction after all it seems... it looks like it's over now so I'm looking to buy. As price is at the brown VWAP from the high, we could see a bit of pullback but it needs to hold above 437 if it is to continue higher or else we could see price go a bit lower short term.
Price is breaking out of this Triangle red wave 4 consolidation and we have an impulsive wave on the smaller time frame chart. It looks to be finishing a fifth wave now therefore we can expect a pullback towards 55/56-ish before seeing it continue higher again. The setup is of course invalidated if price drops below 51.80.
Finished a Triangle wave 4 it seems, we can therefore expect this to continue higher as long as wave E low isn't breached.
DOGEUSDT - breaking out. If today closes above previous high of 0.087 and price can remain above todays low , we could see price go higher but a move above 0.10 is needed for this supposed rally to be a sustained one.
DODOBUSD - Getting ready to go higher. A break out of this pennant and above 5.5 should get things going here. If price closes below support, we'll have to wait and look for a new setup.
FUTU - Looking good but I'm not sure if we're in a wave (ii) or smaller degree wave iv on the 65min chart. We can buy a break above 160 nonetheless with a very tight stop of 5-6$ and in worst case get out at breakeven if the alternate count is right and price turns lower after making a new high above 164.
HD - This one has been a nice mover till now but things could start to slow down soon and we might then see a corrective pullback if this 161.8% Fib retracement level acts as resistance. I don't know how deep the pullback will be once it occurs but better not give up too much of your profits in that case. You can use the 50EMA or the ATR as a get out signal or...
DKNG - Not sure about the wave count for this rise but the fact it's so overlapping and contained within this channel makes me believe it's a corrective move rather than a Diagonal for exemple. The bigger picture seems to suggest we're potentially in a wave 2B Flat, meaning we'll see one more push down to the noted Fib levels in impulsive fashion. If this goes...
Price is still consolidation in what I believe to be a wave 4. Potential resistance zone is at 25/29-ish. If price doesn't break below that zone, it needs to break above the black VWAPs to have a chance of making a new high. Also, I would like to see RSI above 50 and ideally in overbought territory. For now, sit on your hands, no reason to get in too early.