wave_traders

wave_traders

Looks like a nice impulse wave, which should be followed by a C leg.

wave_traders

if this pattern is correct, another low-risk 25% gain is possible.

wave_traders

Short-term, there are two scenarios ahead. Both are good opportunities for day trading.

wave_traders

Based on wave structure, we are probably in a diametrical formation (Neowave). once we finish the pullback to the $2424 level, it can start a new rally. I've shown what I'm expecting from the price action using arrows.

wave_traders

Once we are out of the triangle, we can expect a 45%-55% up move.

wave_traders

Wave structure suggests we are nearing the end of a 3 year correction (Diamertiacl pattern forming). So based on that, the next leg can be predicted to be a missive up move which can (believe it or not) push the price to $150 by Q1 of the 2022. That's a 22x gain! which is crazy.

wave_traders

Based on wave structure, seems like we are in a neutral triangle. So the next expected move is an up move to 60K level. Then back down to 50K and then BOOM, we are headed to at least 100K.

wave_traders

Based on wave structure seems like we are close to the end of the correction (Diametrical formation). From here, we might get a flat or a triangle next. But regardless, we can expect a 400 pip up move for now. With a tight stop loss below 1.1749 and a buy stop above 1.1809. R/R=1/8

wave_traders

Based on the wave structure of S&P500 index it seems like we are very close to a MAJOR top (at least in terms of price), as I've shown on the chart, a 6%~10% decline is due, after which there are two scenarios, one being the continuation of the bear market into 3333 level (at least), another being market getting really choppy and boring and just wasting time and...

wave_traders

Based on technical analysis techniques plus some time analysis, dollar index is at an important crossroad. Based on evidence from the chart, USD looks very bearish for at least next 2 weeks and can reach the previous lows.

wave_traders

Seems like we are inside a contracting triangle. The current up leg should end pretty soon, and then after a down move which should not be bigger than it's previous down move, we can expect a rally to at least the previous all time high, and very likely above it.

wave_traders

Judging based on the timing of the waves seems like we are in a triangle pattern. Of course this not 100% certain but it's probable. We have to wait for this correction to end which would take a few days.

wave_traders Updated 

We have to wait and see which way it breaks out. My guess is up.

wave_traders

It's approaching a resistance zone and we expect it to reverse and go down to the first support shown on the chart

wave_traders

It seems like the price is trapped in a triangle. It will be in a "range" mode for quit some time.

wave_traders

consolidating on the trendline and getting ready for an up move.

wave_traders

Just like Bitcoin Ethereum is going to go up for a few month. There will be a correction afterwards which will push the price down to $350. after this correction there will be an uptrend which will break the all time high of $1400.

wave_traders

seems like a triangle is forming. it will take more than a decade to complete...