LukeSkywalker

LukeSkywalker Updated 

For the whole bullish scenario to be valid, we HAVE to hold 7750. If that fails this scenario is no longer valid. The target for this scenario is 9250.

LukeSkywalker Updated 

ETH is starting its Wave 5 down from 260. We are looking for a 1.272 FiB hit at 212.

LukeSkywalker Updated 

5 -Waves analysis from the bottom. When we hit 288 we would get a retracement down to 282, beginning with wave 3 to 295-300 SPY.

LukeSkywalker Updated 

I noticed that every time i did trend based fib extension, of TSLA i always get a 1:1 count. You can clearly see the correction, when it bounced of the wave 3 at 252. Now it did EXACTLY the same from wave 5. Which means 5 waves are done, and we have a huge move ahead of us. First Target is: 350 USD

LukeSkywalker

Oil is usually a good indicator for when the SPX goes up. When oil goes up so does SPX. With that said that is a strong possibility that oil will go up next week. It looks like Oil did a ABC correction down, indicating there are a lot of more upside down. If that is true, we would see SPX follow and possibly hit 3000 SPX. We can see that SPX bounced of the...

LukeSkywalker

ADA is about to finish its retracement down for wave 2. We can expect a higher wave 3 up to the 1.618 fib, followed by a small retracement. The 5th wave target is .1674.

LukeSkywalker

We would potentially see a bounce of the 1.272, at 2830 for a potential long setup. I would keep a really tight long setup, at 2810, to test out this support. This means that the next wave 3 is up to 2960, and wave 5 will hit the resistance at 2997-3010

LukeSkywalker Updated 

By measurement, we are at the larger wave 5. If this is correct we just have corrected with the 4th. That means we have a wave 5 coming up at 298-300 SPY. By that if 0.5 fib breaks at 286, this scenario would not look too good. As we would have lower targets ahead.

LukeSkywalker Updated 

Applied wavecount, can be used for BTC. I would place shorts from 6200-6400, to atleast get a retracement down 4800-5000 price level. If that dosnt hold i see it testing the lower trendline at 4000. Note: Red box marks the short entries.

LukeSkywalker Updated 

BUY:245-250 SL: 240 TP: 380 Leading diagonal down. ABCDE is about to finish. We are looking at huge upside potential. Braking the current support, will not look good for TSLA. If it breaks current support 180 target is likely.

LukeSkywalker

This is what i will be doing for the correction. SL == Stoploss TP: Take-profit NVDA: entry: 198 SL: 205 TP: 145 return: 27% FB: entry: 178,5 sl: 182 TP: 150 return: 16% JD: entry: 32.19 SL: 34 TP: 26,4 return: 18% Paypal: entry: 106,8 SL: 109 TP: 76 Return: 27%

LukeSkywalker

Short: 5300-5350 SL: 5375 TP: 3400 The main reason for this idea is that it following the 2015 chart. If this is true, we should get a pullback at 5350 down to 3400. Overall we had 5 waves with the last wave ending at .2 extension exactly like in 2015. If that is true, we should expect a fall down to 3400.

LukeSkywalker Updated 

This analysis is purely written from an Elliot Wave perspective. There are no macroeconomics or any other economic theories involved. SPY: Looking at Monthly SPY, we had the completion of wave 1 in 2000. Followed by a recession in 2001-2002. We then had a pullback to the 2000 high, which then ended up double topping and then falling to lows in 2008. This is a...

LukeSkywalker

We are slowly in the end zone of the ABC retracement up. Currently we are undergoing the C wave, within that we have 5 waves. There is two bearish scenariosus here: While the 3rd wave didnt go above the 1.618 we could think that the 5th wave could be extended to 2.618 (120 USD) We could also drop here from the 2. to 2.272 extension. due to the RSI making 4...

LukeSkywalker

5 waves completed on the long term picture We did hit our 2:1 extension, which means that we may expect a pullback now. 100-103 USD, should be a good short opportunity. On the long term i am looking for a pullback to 76 USD

LukeSkywalker

This couldnt be more clear. Facebook had an ABC retracement up finishing of the C wave. At 174,2. To make it more clear, we have 5 subwaves. Within the 5th subwave we have 5 sub-subwaves ending at 2.272 extension. Everything is lining up for this dump. We keep creating lower highs on the RSI, which means we are losing bullish momentum. MACD is also slowly...

LukeSkywalker

The overall structure is a ABC correction up Within C we have 5 other waves The 5th wave is either going to end at the 2: or 2.272, trend based fib extension, which makes 269-270 a very good short opportunity. (Within the red box)

LukeSkywalker

I want to show these 2 charts in comparison to see the similarities between last year of BTC and then this year. Last year BTC developed a wedge consisting of an ABCDE pattern. What i found interesting is that both hit the 0.5 fib of the b-C wave. Instead of doing an ABC up this time to test 0.5 Fibonacci, it did 5 waves up, which means we have an ABC structure...