No matter what you want to call it, its bullish not bearish. Once this correction is complete expect some pretty big thrust up. This is the beginning of a new uptrend.
I believe this support area will hold. If support holds (wait for confirmation) this looks like a good long position with low risk. It should not actually touch the support line so looking for it to form a low just above support.
For all the hopeful gold bulls out there I don't think that it is quite ready to breakout of this consolidation area just yet. Gold should fall only after hitting the resistance area. Critical support $1122 should hold and then the next major move up (breakout) should finally occur.
It looks like this wave 4 correction is complete and we can look for a fifth wave to take this to $40,000.
This is a corrective recovery and I expect this pattern to unfold before USOIL continues higher in the start of a C Wave of a zig zag. This is the final corrective wave before the impulsive C wave begins. I will post targets after this pattern has occurred.
When the price of Bitcoin hits roughly $8530 this will mark the top of Wave 5 for Bitcoin. Gold will be popular again soon just like USOIL.
4th Wave is now looking complete and has not exceeded the previous 4th wave of the previous wave 3 so it looks like a good short. (Ignore new events.) The target below also marks a support area from a previous high as per previous related idea which wasn't very detailed. What can I say: I've come a long way. Once Wave C is over I am expecting a pretty big...
In what looks to be like the finishing move in this market its Bull VS Bear "Finish Him" announces the chartist. Once this move is over this should signal the end of the corrective period since 2007 in what would of been a 10 year bear market. Minimum downside expectation is 4800 with a stop at 5800. Good luck and safe trading.
This looks like a top to me. 5 up and done. Break the green trend line for a nice ride back down to where this move began as an initial target, I suspect it will drop further but the red line is a minimum expectation.
This large C wave down has only just begun, wave 3 is next. It should in theory tag the 61.8% retracement before it continues lower. Please use your own method of trading safely during these high volatility events.
In what should kick off a C Wave down in the Dax this move should also coincide with a move down in the Euro. Support in theory should be around the area of the green dotted line but as always counting a complete 5 waves down should indicate the move is over. In theory a stop should be at the major high above this current pullback.
Gold appears to be in the midst of a bear market in what I believe is a Wave 4 and if this is so then the current Wave would be a C Wave down. Within this C Wave it looks like we are about half way through a Wave 2 flat pattern. Within that flat pattern it appears to be a Wave flat of a (B) Wave flat. Within that wave we appear to be in the {C} wave of a...
I believe the base pattern is complete for oil and I expect to see some upward momentum for a larger Wave C to new highs.
The 5th wave since the 2009 (wave 4 AREA) low looks complete so I shorted this market about 2 weeks ago. Background I've been busy dissecting the S&P500\DOW and other markets but mainly these. Based on The Wave Principle I have meticulously pulled apart the theory in every aspect and put it back together to find out exactly where we are today. We are in a...
Im expecting a 5 wave move to the downside. Wave 2 looks to be complete finally after a complex flat unfolded. A break of the lower trendline is confirmation a wave 3 down has begun.
I believe Iron Ore bottomed late 2015. Since then we have had impulsive move up followed by a correction. If prices reject support in a change of polarity then prices should continue higher.
After what looked to be a completed 5 wave down on my previous analysis I counted wave c as wave 1 - Rookie mistake. It looks like overthrow of an extended wave 5 of an ending diagonal Wave C of a zig zag either complete or almost complete, looking for a sharp move up to around the start of wave C initially to confirm this. On the AUDUSD pair you can see the...