I'm currently using this chart to anticipate a rally by ETH against BTC. I currently have two nested wave-one candidates with a retracement of the current nearing or at completion. I'm looking for a break above the thick Red line followed by a re-test from above to indicate a potential long entry.
My current analysis is still at an the early stage of development, however further to my previous bull/bear counter-factual analyses I'm happy to proffer with high confidence the following: Observations: * Invalidation of the bearish scenario (~$2400 target) by base channel failure * Failure of the deceleration channel in play since December 2017 * Formation of...
Price is currently finding support at the acceleration channel boundary of the current wave and looks to be painting a wave 1 of 5. This wave count posits a rally in the near-term ~$4445 to ~$5130.
Short-term pain, longer term gain. Wave 4-of-C in progress for this particular wave-count. I posit an initial move to ~$3520 to complete wave 4 followed by a subsequent move to ~$4750 to complete 5-of-C. The Green box represents the final target before a move down to ~$2400. The Blue and Orange traces represent the 200 and 50 week moving average respectively...
* Elliott wave analysis using Kennedy channeling. Coloured lines represent channel multiples (Deceleration = Red) and act as dynamic support/resistance . * This chart postulates an ABC structure with wave C in progress. * The Green shaded box represents the target area assuming that wave C conforms to the highest probability outcome of an advance of...
* Elliott wave analysis using Kennedy channeling. Coloured lines represent channel multiples (Base = Blue, Acceleration = Green, Deceleration = Red) and act as dynamic support/resistance. * This chart postulates a wave 4 correction of the larger downtrend in play. Wave 4 is postulated as an ABC structure with wave C in progress. * The Green shaded box represents...
Bullish ZigZag correction in progress. Rally to ~$186.
Kennedy channeling technique used to identify wave count. Fib extension used to anticipate W5 end-point.
Experiment involving channels to anticipate price barriers. I expect price confinement to a path created by the darker areas.
A chart I intend to use to keep an eye on obstacles for the rebound. Thick Red line should present significant resistance. Minor lines represent divisions of the deceleration channel and will also provide resistance.
Bullish correction is still in progress. Blue and Orange lines represent 200 and 50 week moving average plotted with daily precision.
A low fidelity forecast using Kennedy channeling. Bullish zig-zag maneuver currently in play for the fourth wave of this Bearish motive wave.
EW analysis of the Bullish wave four structure in progress..
I've used channel confluence to forecast market structure based upon the assumption of nested Elliott Wave zig-zag patterns in progress. We're currently in the eye of the storm so expect extremely choppy movement over the next day or so. The intention of this is not to forecast the precise movement of price but rather to understand market structure at a higher degree.
Corrective channels in play with shadow channels shown in lighter shades for confluence discovery. Green and Red lines represent support and resistance respectively.