wavepatterntraders

wavepatterntraders

The 5 wave rally from the lows is a good sign for the bulls, if it can decline in 3 waves, then it can offer a setup for further upside.

wavepatterntraders

Update to this chart The short term gyrations still look like a small dip then further upside is needed, but the larger picture ideas look like they could be close to a major peak and the end to a large impulse wave from 2015 lows. Sentiment is nuts, my spam box is all about trading bitcoin and cryptos. Brokers want in and looking for people to open accounts to...

wavepatterntraders

A small dip, then further upside is still favored as shown, at that point I would start to look for possible signs of a peaking. Above 6400 still favors further upside

wavepatterntraders

It still looks like its short of few gyrations to me, so move support to 6400, continue to give the benefit to the upside as shown. In an ideal world this completes the idea right around the time of segwit2x. Look higher above 6400.

wavepatterntraders

Ideally wave (iv) of wave 3 is in place, new ATHS are favored to end wave (v) of 3, then another pullback for wave 4 as shown. Unless I have reason to turn bearish ie: puke under 4600, then lets give the bullish case the benefit. Note: I believe this is a blow off and at some stage a crash is going to be seen, but price and pattern rule , but when its ripe it...

wavepatterntraders

I have tweaked the gyrations a little to support a better look, the recent moves look more like a 4th wave, so I think its part of wave 3, a spike to new highs can end wave 3 as shown and setup for a pullback for wave 4. Above 4600 keeps it pointing higher

wavepatterntraders

Above 4600 continues to support more upside, the aggressive bullish idea needs a few more gyrations to end wave 3, the less aggressive idea sees a pullback for wave 4 (see alt labeling) but should hold above 4600, then see further upside for wave 5 of . My preferred idea is that its still inside a 3rd of 3rd wave, so more gyrations needed as shown to end wave 3 of ,

wavepatterntraders

Finally its pushed to new high and potentially enough gyrations to complete an impulse wave from the 2015 lows. It took its time but its arrived bag holders beware For now above 4350 keeps it pointing higher. Rather wait for a strong decline below 4350 before considering a large decline is in progress.

wavepatterntraders

Kinda looks like it might be a small triangle, if you know a little about Elliott Wave, then triangles are very common in a 4th wave position of an impulse wave, so a thrust to the upside would be a terminal move, so if you are long think about cashing out if new highs for wave 5, bullish above 2385

wavepatterntraders

One way to suggest the end to an impulse wave, bulls need to be cautious as the recent gyrations could also be suggesting an ending diagonal

wavepatterntraders

If wave (C) of a flat correction has ended, then we should see a swift reversal. Flat patterns are notorious for getting traders bullish & bearish at the wrong time, as most think that the move will continue, when it fact its the end to the move. Its not perfect, but wave (C) does have 5 waves. If the idea is correct, puking time!!!!! An impulsive move lower is...

wavepatterntraders

The move from the 2009 lows counts cleanly as a potential impulse wave (5 wave advance). Over the coming months I suspect holders of this stocks wont be "LUVing" this stock. If its close to ending 5 waves then a correction in 3 waves is favored soon, although its a monthly chart so it will take a while to eventually correct. My best guess is that we see a decline...

wavepatterntraders

If wave (C) of a flat correction has ended, then we should see a swift reversal. Flat patterns are notorious for getting traders bullish & bearish at the wrong time, as most think that the move will continue, when it fact its the end to the move. Its not perfect, but wave (C) does have 5 waves. If the idea is correct, puking time!!!!! An impulsive move lower is...

wavepatterntraders

The weekly chart appears to count cleanly enough as a 5 wave advance, so we can suggest an impulse wave is close to completion. If the bull cycle from the 2009 lows are close to ending, then a substantial correction is expected, I would favor at least a move back to the previous 4th wave at 85.00 or lower

wavepatterntraders

From 12977 it looks like an impulse wave is close to ending, a bounce in 3 waves that remains below 12977 will offer a setup to sell against against 12977 stops, a 3 wave bounce is the key element to the sell setup.

wavepatterntraders

If the market is close to ending a B wave of an expanded flat, then I would expect it to top around current levels, a strong/impulsive decline back under 21100 would be a good start, a small 5 wave decline would also help on a 15 min t/f The more bullish case (not shown) is the start of a strong 3rd wave breakout. This current labeling would be a nasty bull trap...

wavepatterntraders

A corrective bounce (wxy correction) that remains below 12878 is a bearish setup, potentially the start of a deeper decline basis the weekly charts. Ideally It finds sellers between 12750 - 12800. Its wrong above 12878.

wavepatterntraders

With the strength and look, I tend to favor its mostly like closing in on the end to a 3rd of 3rd wave of an impulse wave, so a nasty pullback is expected soon.