Abccorrection
US30 AnalysisUS30 looks to be completing a wave 4 pullback in the form of an ABC correction. We are looking for a wave 5 to begin and push down toward the 16000-15000 level. A few things must happen for this set up to remain valid.
1. Wave 4 cannot pull back higher than where wave 1 ended (around 24700). This would invalidate the Elliot wave structure.
2. We need a strong bearish push in order to confirm the end of wave 4 and beginning of wave 5. This is where we can jump on a smaller timeframe for our entry.
3. Price would need to break the yearly low (currently at 18150) in order to fully complete wave 5 for a final target of 15500. Price could hit the yearly low and bounce up to attempt a double bottom, therefore most profits should be taken at this level.
TP 1: 21000
TP 2: 18500 *close most of positions
TP 3: 15500
Keep in mind US30 is highly volatile. Use proper risk management. This set up has a great risk to reward.
I am not a financial advisor. This is not financial advice. This is for educational purposes only.
On more up then sellABC correction should end soon. Wave 5 of wave C in action. Then sell. Wave C should end at 0.88 which is 50%.
A long term correction should startGold has completed 5 impulsive waves. 6-8 months of ABC correction should start soon. Should be a zigzag correction.
A very bearish M candleA very bearish M candle confirms divergence in DowJ. A deep ABC correction should happen this year. I would not buy it anymore. Bullish trend is bending.
The Crash of Bitcoini see Price pushing up to around 10475 area to complete the top of the Elliot's wave. After the wave is completed then the turn around process will begin. I see the A to B wave of the ABC correction wave pushing the market up one last time to create the head of the H&S turn around. My predictions is the market should push up to around (11008). Then the crash begins. My predictions of the 1st major push of the crash should take the market down to around the (6080) area.
Broken Trend Correction Most Likely Incoming Depending on the next fib we stop at /calculating using Bitcoins dominance at 67% we are looking at a move down to 8.8-8.45k.
Possibly a move down to re-test the bear trend (Represented as the lowest red line).
I still see the cup and handle pattern panning out.
Next stop after this move down 10.2-11k in terms of btc.
-BTFD
As always DYOR and safe trading.
Sand Path to Ultimate ATH 4K: Road Map for 2020 and BeyondPure WAG and sheer speculation. Absolutely NOT investing advice! This post is strictly for your amusement only; intended purely to entertain, so enjoy!
NB: Near-term some sort of correction is due, index trading >2SD above 50DMA, RSI overbought near 80; absent a Fed Hike on 28/29 Jan, expect a modest pullback.
The monster break of Feb 2018 is unlikely to repeat now without adverse Fed rate action, but ofc anything is possible in this nutty market- not for faint of heart!
In 2019 every correction started on the day of the Fed meetings, in May, July and September... IMO history likes to repeat, seems like a good bet. Could start now, from Friday's close at 3330!
The down move could be a 6-10% correction, deeper is doubtful, but possible; it's a 4th wave and these tend to be tricky trading.
Expect wild choppy swings like we saw in August- whipsawing, don't get your hands cut off! Save ur cash for Wave 5, it will be a terrific long play!
After this move completes, what comes after is anybody's guess, but this market has shown a proclivity for double tops, IMO is likely to do so again; pre-election jitters likely may start a deeper correction in Sep/Oct. We had a Bullish October in 2019; a Bearish one in 2020 is a likely consequence IMO. Beyond the election: entirely depends on the Donald pulling off re-election; as an incumbent with enormous cash to burn, his chances are better than 50-50 IMO; I expect him to win it, when he does, markets will rocket to the Moon- the 2.618 Fibo extension is certainly within grasp up around 4128!
Again, this post is pure Wild-Assed-Guessing, the tail WAGs the dog, GLTA! Be careful, be cautious, be prudent at this juncture! -DS
Elliot waves impulses are completedChfjpy has completed wave number 5 twice; in bigger picture (blue lines) and smaller one with yellow lines.
Stochastic is in overbought abd price should correct with ABC WAVES.
I think price will drop in next days; use a good risk return ratio.
Gold strongly bullishXauUsd Currently at correction and should find support at green box or trend line 1505-1535. Downside is limited.
head and shoulders pattern at goldWe finished 1-5 elliot wave at strong support (red zone) and started SHS pattern. We must breakdown the neckline which confirm this pattern. Possible end of ABC correction and TP may be about green zone.
DJIA: B wave reaction rally of ABC minor correction pause to ATHGot a typical reactionary rally after breakdown from rising wedge. Price moves back to kiss TL then rejects into C leg. This is a minor shallow correction of perhaps ~3%; a pause on road to ultimate ATH.
Gaps to fill down to 2949 on SPX will be the best yardstick for pivot. Buy all-in when price fills that gap IMO. Donald will make some deal with China soon as he wants to get elected, and that draws near. Expect some development in mid-Dec as catalyst.
Market knows he will get re-elected, Dems have no competitive candidate in field, their prospects are amusing at best and impeachment is a farce.
This isn't investing advice! Trade at your own risk! GLTA!
