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0-618

GBP/CAD 7 swing, looking for at least a buy scalp...Gcad showed some price action showing potential reversal for retracement. It did pull back in a small 3 wave rejecting the fib level. But since then has been making a 7 swing wxy that measures out to break trend line and reverse, which is very typical. TDI shows it be in a sell on the 1 and 4hr charts, but daily looks like more room up to me. Just understand you are trading within a correction so there are different possibilities of how it plays out. It can finish correcting and just continue down, but it can also turn into a running flat, pulling up much more.
by thillygoosth
EUR/GBPEG is approaching the .618 level (which would break high if it did). But you can see the pitchfork and all the intersecting trend lines of structure. It is potentially a very large sell down. Looking at the one hour, the wave it is on is coming off the 1.618 extension in an impulse, so i would expect some consolidation and another little push. So, basically, i would like to see a reversal pattern on 1 hr before i considered any short. gbp/usd was at trend line approaching .618 level also. gbp/cad is at the .618. Obviously pound is in a strong down trend, but looks like we might be getting at least a retracement soon. but be careful...
by thillygoosth
Eur/chfEchf coming off .618. The truth is, I have no idea how the pattern will play out, but consider the measurements of that 3 wave I expect further corrective structure to develop upward. I circled that pattern to the left just to show you one possible way it can do it. Maybe we are just looking at a running flat and it continues up, to break the high. I just don't see it making such a sharp move down from the major high and then only doing a stunted 3 wave to 50% for a wave 2. That's just not Eur/Chf's personality...
by thillygoosth
AUD/USDI would just like to point out that AU is about hit a huge pitchfork and major .618 retrace of the large WXY pattern that it completed on the weekly. When I zoom in as I did here, you see a 5 wave.. Wave 3 is extended, so I would expect a short wave 5. Equal length to wave 1 basically takes you right to the .618 barely breaking pitchfork. As far as profit targets, there are some different things that can happen here. It could go up a lot forming some structure, it can also just continue down trend but I would expect a reaction from this area. This is more about trying to time a low risk entry and seeing what happens.
by thillygoosth
Cad/Jpy Weekly wave analysisCJ seems to be counting and measuring out to make a double combo pattern long term. Right now it is breaking the .618 retrace and looks like it is making a small buy setup on 30 min.. possibly. Yes it's been going down and there is no way for me to properly explain this concept or how or when to go about trading it. But right now we have a 5 wave up and are on a 3 wave down on the smaller scale. The fact that the last wave retraced 61% instead of 38% on this weekly chart makes me look at this as not a 5 wave impulse down. And when I consider the fibs and the swing pattern it makes sense. It could take some time to unfold and comes down to entry and strategy. There will be buys and sells, but I am more personally interested in the buy setups. Right now, larger time frame says it is in a sell currently, however, right now you might be getting a buy like I said, but I want to see a buy setup on 4 hr. This "B" wave it is doing right now could become more complex of a correction. It could be in a downtrend when I look at the 200 and 800 MA on daily, but I will still be looking for at least one more up for "C" even if we don't get that 7 swing I drew out, but it sure measures and counts out for it.
by thillygoosth
BTC, 618, Numerology and the Heavens?There's a lot to say and I'm probably leaving a lot out but it's ok. I'm a big fan of the non-linear, circular thinking. June 18th... 6/18... we are at the apex of our pennant from 20k. but what if our pennant's apex means nothing and the real apex is the Gann fan apex at 6/18? Refer to other charts I've done that have Gann fan crosses and planetary correlations. Also on 6/18, Neptune goes retrograde. So I saw a twitter post about the reversals on the 6th and people start talking number of the beast... so I'd like to a moment to clarify the significance of this number and then some. The obvious- Fibonacci and the golden ratio Then we do some cumsum numerology (cumulative summation you pervs) 618.. 6+1+8=15 =1+5=> 6 666, 6+6+6=18=1+8=> 9 without doing a deep dive into numerology, 9 is the most yang number (Chinese numerology perspective), the number of completion, the highest and most powerful number. In the zodiac, the 9th house is of Sagittarius, ruled by Jupiter, who relates to abundance, wealth, the highest and most etheric knowledge (spiritual knowledge and general higher learning). There are 9 planets in the solar system (100% Pluto). There are 12 primary channels and 9 extraordinary meridians ==> 12x9 = 108. 1+0+8 = 9 There are 108 beads on a prayer garland===> 9 9 months in a pregnancy. The Sun is apparently 108x the size of Earth. (wiki says 109x the size; close enough, damn stars are expanding as they get older) In the Bagua. There are 8 trigrams. In olden asian agriculture, they would feng shui their crops according to the 8 zones/trigrams of the bagua. The middle would be left empty, the middle was the 9th zone and referred to as God's acre. The atomic number of Carbon is 6. Carbon has 6 electrons, 6 protons, and 6 neutrons. ... 618=6? 6 points in a star tetrahedron. In asian culture, 666 is something that is very powerful and impressive. A demon can be that and someone of immense Light can be as well. ...I wouldn't be surprised if we don't have a big fat candle that scorches up to 10,800 out of nowhere.
COINBASE:BTCUSD
by TreeTruffle
2
Bitcoin's Bearish 5 DrivesBearish 5 Drives as megastructure. on the downtrending leg, we have our supposed reversal presenting as a Bullish 5 drives. If this all happens near textbook expected then we should retrace to around 7400, which will be our 6/1/18 launch pad for our next mini lunar mission. Jokes aside, should be interesting to see what happens. Not going to lie, the mega Bearish 5 Drives patter has me a bit leery as to whether or not this will be a lunar mission and actually a deeper descent. Excited to see how it plays out. :)
BITFINEX:BTCUSD
by TreeTruffle
11
Outlook ahead of FOMCHello Traders! We're expecting the Fed's to raise the interest rates by a quarter at 14:00 EST and we're also awaiting on Powell's first speech. My bias remains bearish for the FX:EURUSD but i do expect a push higher prior to the drop to new lows given that the current rate hike is already priced in and what everyone is waiting for is the details on the plans for the year and Powell's commentary. The institutional data we have indicates slight long profit taking activity at the Weekly/Monthly supply which emboldens our short bias. In the case of a push higher im looking for the 1.2340 area to look for shorts but if we have a break & close below 1.2240 i will scale in my shorts from that point forward with a 1st target around 1.2180
Short
by MarioAlzuri