A rough guide of how price might follow if we are following ABCDE elliot wave scenario. Any thoughts/opinons appreciated.
Howdy, Having picked up on a the large previous descending wedge I have taken the price action after breakout from last wedge and multiplied it by a degree of 0.372 as this was roughly how much smaller the current wedge is. just testing things out really. Have overlayed the new price action onto current Wedge breakout and have taken a look at the Fib numbers...
The chart explains itself really, with the RSI repeating patterns and consistently hitting 0.618 Fib levels. NEM has a lot ahead of it this year - Catapult in May, Many projects being built on top of the platform, and many companies testing the blockchain behind the scenes.
If XEM Follows previous patterns, this is what we can expect to see on the weekly RSI. If it follows the same, now is a VERY good time to get in indeed. NEM Foundation has also behind the scenes been working with numerous companies that have been testing their blockchain. With the release of catapult rumoured to release in May and additional projects being built...
Well, our targets were hit and broken! price broke well under the 0.786 Fib level due to some volatile BTC price action over the past 24 hours. Lots of panic selling ensued and price dropped further than predicted. Have now amended wave 3 targets based on wave 2 floor price. Wave 3 is never the shortest thus I predict it will take a little while for the price to...
ABC correction seems to have finished and first impulse wave has now been completed. Based on first impulse wave we can now get some targets going for waves 2/3. Based on these targets waves 4/5 can be roughly estimated also. To get Resistance support levels (purple lines) : Used Fib retracement from previous rally up to ATH To get Elliot wave wave targets: Used...
Here we see an Ascending triangle on the small timeframe of 1hr. If there is a breakout on the horizontal trendline with high volume, $10,800 is the target. If breakout is rejected, alternative scenarios based on resistance lines and fib retracement lines are outlined by yellow and red arrows. Any opinions appreciated.
Bullish divergence on RSI, Bullish Divergence on MACD, possibly finished ABC correction to start new impulse wave. Volume picking up in a bullish falling wedge.
RSI = Bullish divergence MACD = bullish divergence Bullish Falling wedge Elliot wave = Looks like SALT may have finished its' ABC correction and ready for a new impulse wave? Looks like could be a good time to buy. Any opinions appreciated.
Copy pasted the previous bearish Fractal. Have inverted it to make it bullish, as the market sentiment is gaining confidence again. It seems to line up quite well with resistances, may be worth keeping an eye on.
See related Ideas below. With continuation of bullish news, if market sentiment stays confident, we could see a breakout?
Let's see if it pulls through. See related Ideas below. Expecting it to hit a low tomorrow, perhaps not as low as shown on the chart though.
Price action based on repeating fractal
I copy pasted original fractal and then minimised and overlayed. The fractal acts in a smaller time frame every time.
Adam and Eve pattern formed then price fell. Possible second iteration forming ? Currently Adam has formed and Eve could follow with price expected to take more significant action after completion.
Don't know how I didn't see it before. Ghost says it goes up.