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Elliottwaveretracement

$XEM BTC - the good ole 1-2 punch 57% gain 1:5 risk/rewardGood day traders This is an update to my previous idea on XEM. Please see that idea in the related ideas section below. I typically don’t like complex charting because with complexity, we have more noise. However, with XEM’s pricing action being so complex, we enlist the help of our friend the Gann Fan Here you can see multiple points of confluence validating the possibility of higher price action. We have an ABC correction and immediately after that, an impulsive wave with a sharp correction back to .618. Notably this sharp correction led us back to our RSI support, which was once resistance. We can expect the RSI to only go up from here. Ladies and gentlemen, I think we may have our first 1-2 punch here Entry: 3913 Stop: below 3521 Target 6200, take profit from 5500 and up Risk / reward ratio: 1:5 If we find ourselves below 3521, we’ll likely revisit the lower Gain region of around 3200 so make sure your stops are in place. Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe! Kinashi-San *For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Long
by Kinashi_San
1
$EOS BTC - another nice setup for 80% gain 1:7 risk/rewardGood day traders, Looks like we have a nice ABC zig zag in the fourth that just bounced off on our 200 MA in the 4hr chart. I’m bullish on EOS due to the release that's coming in June. Feel free to review my previous idea on EOS in the related ideas section below. Even though I'm bullish , let’s still trade above the pivot point just to be safe since we are still down trend at the moment. Up close and personal with the pivot point: Entry: buy stop at 17500 Stop: below 800H MA or 15500 Target: 32K Risk / reward ratio: 1:7 Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe! Kinashi-San *For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Long
by Kinashi_San
15
NANO! WE'RE STILL BULLISH!Okay so we've found solid support along the black trendline i've wicked off, right above our last resort bottom green box. Good news is that we HAVEN'T passed through the 1:1 for the C (bottom green box), which keeps us bullish. Do I see us passing through the Black Trendline? ...It's hard to say, but at this point, we seem to be consolidating and sell pressure seems to be slowing down. Which means, there are more people wanting to buy, over people wanting to sell. But because nothing is confirmed yet, the bulls are staying on the sidelines waiting for that confirmation. So just cause we've slowed in selling, doesn't mean everyones going to jump in and buy. But it doesn't mean Bulls will start accumulating along this black trendline. REMEMBER: BULLISH DOES NOT mean, that we're going to impulse up straight away, but it does mean we aren't BEARISH. WE'RE STILL BULLISH, UNTIL WE BREAK DOWN BELOW THE 1:1 EXTENSION (THE BOTTOM GREEN BOX). Why? Because if we have 5 waves up, which I'm sure we have, that becomes our big wave 1, and we're currently on our wave 2 down now. But should we breakdown below the bottom green box, that would be our wave 2 retracing more than 100% of our wave 1, so then we can say we are bearish. But until then I'm still bullish. I'm still watching, and may start accumulating in a couple days, with a tight stop below the bottom green box. LASTLY **IMPORTANT** If Bitcoin falls there is a chance that we fall down below the bottom green box, unlikely but its still on the table. Hence why I, like other bulls, are Sidelined and watching for the time being. Thanks **NOT FINANCIAL ADVICE, JUST SHARING WHAT IM SEEING**
NLong
by Etsua
ZILBTC - $ZIL - don’t get suckered into this death trapHello traders, ZIL has gotten all sorts of pumps lately, mainly due to being listed on multiple exchanges within the same week. It has basically gone parabolic. Looking at the daily, you can see that the last time ZIL closed a candle below the 10 EMA was on April 10th. After that, it saw more gains than Arnold in his prime without a single candle closing under the 10 EMA in 33 days. So the question here is, will this madness keep going or will ZIL defy all odds and keep pushing? Looking at our waves in the 4hr chart, we see that our wave i was a leading diagonal with a short second wave retrace of roughly 0.382. So with a short wave ii, we also expected a short third wave iii, which we got, since it was only 1.618 of the first. In cases where you get a short third wave, you know that there is a high likelihood that the fifth wave could be extended. So how you typically project your fifth wave is by combining the gains of the first and third to project either a 1.618 or 2.618 (rare) to get your fifth. In our case, it looks like the fifth wave spiked though the 1.618 expansion at 2350 then came right back and it has been trading below this level since then which means that spike might have been our top, the end of the fifth wave… And we know what happens after the fifth wave - what goes up, must come down. Another reason why I’m bearish on ZIL is because my 4hr RSI trend has been broken. This trend was broken before on May 6th, but we came right back above it. However, this time we’ve tested this RSI trend twice after going under and got denied both times. My guess is that the RSI will likely continue its downward path, which means that our pricing will also continue a downward path. With that said, where should we expect ZIL to correct to? Well, now that the whales have already dumped all their coins, I expect ZIL to slowly slide back down to a support near the .618 retracement shown here, or about 1200 satoshi. That is the most reasonable support where we should see ZIL bounce to start its third wave. Lets let this develop and we’ll revisit this idea when we have more confirmation and a clearer picture of what the second wave looks like If you have found this to be entertaining at the least or if you hated it, feel free to let me know with a like or comment. As always, good luck and stay safe! Kinashi San *For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Short
by Kinashi_San
20
ADABTC (Cardano) BUY @ WolfeWave & Prior Wave 4 Low area.ADA/BTC (Cardano) BUY, 05/07/18, written 9:45 p.m. EST, by Michael Mansfield Cardano's Wave 4 is likely bottoming at or near the Wolfe Wave trend-line (dashed black line). The low came a day early to what was optimal but within the 5-12 days that I expected the retracement to last, and mentioned in the prior Cardano post. Nevertheless, even if the low is in, the correction may end up more complex, which is fine. A Wave 5 move up should unfold to the Gann Fan 3/l line (blue downward angled line labeled Elliott Wave V & 5), which is also where the 50% retracement level of the January high to March crash low is, and where an Andrews resistance line (solid black), all meet. The price area mentioned above should provide very strong time & price resistance. However, should this expected rally have a steeper slope and more volume than April rally, this wave count might be one degree too low, thus it would more bullish than I currently show. The low will likely be confirmed if and when Cardano breaks the down channel resistance line (black line closest to current price). Once the forecasted Wave 5 top is in, I would then expect a larger degree ABC correction down (labled A B C in red). Then repeat 1-5 back up later in the summer. NEGATED IF: This outlook is negated and would then be bearish if the ADABTC fails to break the Gann Fan 2/1 line (blue downward sloping line at Elliott Wave 3 area), within 10 days and/or it breaks 0.000027 to the downside. ----------------- BUY idea: Buy @ 0.00003650 or better (currently @ 0.00003635, probably OK to buy up to 0.000038). Initial Protective Stop Loss @ 0.000027 Move stop to 0.00003350 if .000040 is reached, Consider exiting 1/3 position @ 0.000041 and move remaining position stop to break-even. Wave 5 target is 0.00005264 so exit another 1/3 at 0.000052 and trail stop below 2-3 day low at that point. If the correction turns out to more complex, as mentioned above, it should be OK with the stop we suggest. (See prior Cardano post from 05/03/18, for zoomed out view). We will try to let you know if the waves unfold as expected in order to pinpoint the high time and price, or if the outlook becomes more bullish or more bearish. RATIONALE: Cardano fell into the Wolfe Wave (Wave 1 - Wave 4 trend-line) target area, which also met the Elliott Wave's prior Wave 4 target area. The current low was almost exactly at the expected price from the prior post, and 5 days from the top, if you count the top day, which was a large range outside bar reversal down. Volume has declined since the high on 05/03/18, which is expected if this is just a correction. If it was a new bear phase, volume during the sell off should have increased, but It did not increase. That is bullsih. The sell off of 5 days showed very low momentum. This, plus the declining volume means that the selling was likely almost all just profit taking, with no large short positions. This is also a bullish sign. ------- TRADER TIP: A bullish Wolfe Wave support price target line is drawn from the Wave (i) high to the Wave (iv) low (opposite for a bearish Wolf Wave resistance price target line). In either case, these are supposedly the average minimum price expectation for a pullback or retracement. As always, use this tool prudently along with other supporting/confirming techniques. DISCLOSURE: This analysis is meant for educational purposes only. You trade at your own risk! Michael Mansfield CIO
Long
by UnknownUnicorn1613901
1
OMG! SEEKING A GOOD ENTRY POINT?So we can see we have found trendline support currently, but will it hold? Here is something interesting, if I take a fib extension, and pull from W-X-Y, you can see that we've hit the 100% fib level, and found firm resistance at the 0.786! So we can see the Algos are at work. Currently as far as I can see, we've double topped and are now retracing, and at this point in time, I'm seeing this as an extended correction, HOWEVER...we still have 2 possible BULL scenarios on the table! BULL SCENARIO = We can still count this as a wave 1 up, and now we are coming down for our wave 2. This possibility is always on the table until we retrace past the origin of wave 1. INVERSE HEAD AND SHOULDERS SCENARIO = If we break through the top black trendline, and continue our correction down, there is the possibility, that if we bounce of the bottom black trendline, we could be shaping up for a perfect inverse Head and Shoulders pattern. So ill be definitely watching for that potential. However until then, it'll take me a lot of convincing before I go long. I'll be looking to enter, either when It reaches my buy zone, because I can't see it dropping past there, unless it continues following BTC down, but by then ill have more data to work with, then I can do a more detailed count. I will also consider entering, if I see a solid bounce off the trendline we've found support at now for a quick scalp, but I don't see the market strong enough to push it up at this point. Also I have never found trendlines to be reliable/strong supports, unless correlated with a fib level. So for now, I'm watching to see where it could land, and how it reacts when introduced to each fib level / trendlines, but as far it goes for now, we double topped and are retracing. Thanks **NOT FINANCIAL ADVICE, JUST SHARING WHAT I SEE**
BITFINEX:OMGUSD
by Etsua
QTUM! PARABOLIC SELL OFF **UPDATE**RSI is oversold, so there is the potential to play the bounce, however it is too risky in my opinion, unless you have to motivation to do so. So as listed in my other QTUM chart, except now "updated" to fix the chart text TYPO...I have been expecting a bullish reaction here at the 61.8% Golden Zone, where YES, we can see we have found nice support...for the time being, but obviously the correlation with Bitcoin is strong, as it is with every other coin. CURRENT STRATEGY. I'm going to wait and see. We can see previously, we basically double bottomed, and are on our way back down, so I would ABSOLUTELY NOT enter a long position until I see what happens, if and when we reach the lower fib targets. If we punch through the Golden Zone, then watch the reactions at 78.6% and the 88.7%. But I'm watching from the sideline until we see confirmation of a reversal. Thanks **NOT FINANCIAL ADVICE, JUST SHARING WHAT I SEE.**
Q
by Etsua
NANO! BULL RUN ALMOST UPON US?So our supports held but weren't enough for a reversal. Which leads me to give a new count, and our red trendline is in the wind. SO WHEN WILL THE SELLING STOP?? ANSWER: The highest probability target always for an abc correction down, Is that C is most likely 100% of A = 1:1 extension. And since when have our A&B which are in, we have targets to pull from. And when we do, we find PERFECT confluence with our lowest point (Red horizontal trendline / APRIL REVERSAL) before we began trending up. Which adds more evidence to our A&B having completed, and now we're on our final leg down to complete our C. EVIDENCE FOR OUR 5 WAVE COMPLETION = Our waves 3 & 5 have hit their respective 100% and 161.8% targets. GOOD NEWS? : Well because our 5 waves are in, it becomes a big wave 1, which means we can do a fib pull for ALL of this big wave 1. And what we find, is a lot of correlation between that fib pull, and the trend fib pull from our waves A&B to find our wave C! So we would target a 1:1 extension for our C, except, the odds of hitting the 1:1 in this case for our C gets DRASTICALLY SMALLER, because 2 cannot fall 100% of wave 1! SO our chances of a bounce here right now, at the 0.618 pull from the A&B goes up, BECAUSE we find its correlated with the 0.786 target of the entire wave 1! WHICH IS THE HIGHEST PROBABILITY TARGET for a DEEP 2 (purple 2) retracement! Will we bounce here? Maybe? But we also have to remember when we are doing our analysis, that everything always goes back to being nicely correlated with the BITCOIN CHART which had a nice NEWS RELATED DUMP which triggered a dump on our NANO chart among other charts, which led to us breaking OUR RED TRENDLINE SUPPORT ON MY PREVIOUS CHART.
NLong
by Etsua
4
NANO BEARISH COUNT NEAR COMPLETING Here is my bear count, which is almost in, as it looks like we have almost completed our "bullish" triangle correction pattern, that is on its final leg down. I think my first target may be too weak to hold, but wether we bounce now or at the red trendline, we should be seeing a bounce soon. Id be watching for a bounce off the red trendline, to gage a good entry. However there is still the possibility we could break through the red trendline, then id change my count, but that is highly unlikely. **Not financial advice, just sharing what i see" Cheers
NLong
by Etsua
ZeroX - $ZRX - let's catch the fourth wave for a fifth wave pumpGood day traders, I had no idea you can do these recordings on here. Super easy and fun to do. They only let you do 10 minutes at a time so I kind of rushed through it. Let me know in the comments if any improvements can be made. Thanks for reviewing and good luck out there If you have found this to be entertaining at the least or if you hated it, feel free to let me know with a like or comment. As always, good luck and stay safe! Kinashi San *For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Long
by Kinashi_San
10
QTUM! DON'T GET CAUGHT IN THE REDShot in the dark prediction for Qtum going off the data we've got, unless there a fundamentals at play, Qtum is so closely correlated to Bitcoin, you may as well watch the BTC chart. Green boxes are entry points I'm watching...I wouldn't enter now unless Bitcoin is bullish. It's internally working its way up, trading in the channel (black trendlines), from what I see, its in the middle of its wave 4, before an impulse up to complete its wave 5. We see a reaction off the 50% to the tick, but it doesn't look strong enough to hold. I know there'll be a reaction at the 61.8% if we get there. A touch down at the 78.6% would require hard sell side pressure, and anywhere lower all bets are off. At the moment im watching to see if we have an ending diagonal at play, but it does look bullish, as it is trending up, and it does look like its on its wave 4. So I WOULD NOT buy in yet, until I either reach my targets, or BTC makes a bullish move and QTUM decides to follow. **NOT FINANCIAL ADVICE, JUST SHARING WHAT I'M SEEING** Thanks
Q
by Etsua
ICXBTC - won't be ready to move til end of monthHello traders, We've corrected quite a bit but I think we still have a bit more to go. Likely towards the end of the month we'll see if IXC is ready to push again. For now, it's vacay time for this hard working coin. A break above the lower high at 4868 and we should see bullish momentum earlier than expected. Note the rare but valid descending channel in the RSI. As always, good luck and stay safe! Kinashi San *For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
Long
by Kinashi_San
2
WTC to come down to be in a good spot for a buyReasons for WTC coming down Bearish MACD Elliot wave count Bearish RSI Current ABC pattern forming a bullish triangle I think WTC is looking good in the long run it is in a good position for a big wave up aiming for the 0.618 retracement on the fib to start stacking some buys around $0.88c Looking like it will be a breakout if it breaks the upper most trend line could be around 3 to 6 weeks rough guess This isn't advice this is me thinking out loud don't listen to it :)
WLong
by StoneyStark
Elliott Wave analysis of LTCUSD (Litecoin): 4hr tfMy previous post on Litecoin (LTCUSD) to track its progression can be found here: Litecoin (LTCUSD) in the analysis was expected to produce one more sell off before resumption in the uptrend. Instead it produced a bullish trend upwards which is been determined in this analysis as a 5 wave progression. The price of Litecoin (LTCUSD) at ~$179.89 on May 5, 2018 is believed to have terminated an impulse trend. The favored region of target for support is the 4th wave of the previous degree which is ~ $143.05. This also coincides with a support region for Litecoin (LTCUSD) as indicated by the horizontal blue lines between $143.05 and $139.16. Support 1 and Support 2 from the previous post are also outlined here which is where Litecoin (LTCUSD) would be expected to find support should a further break down in price occur below $139.16. The point of invalidation of this analysis is a price close above ~$181.00.
BITFINEX:LTCUSD
by Coin_Analyst
Elliott wave analysis: Ethereum classic (ETCUSD) 4hr tf My previous post for Ethereum Classic (ETCUSD) can be found here: It was mentioned in the post that Ethereum classic (ETCUSD) was progressing as an impulse wave from the price bottom of ~$13.16. However, based on how price action has transpired since the last post, price swing for Ethereum classic (ETCUSD) from ~ $13.16 to ~$22.24 on April 24, 2018 has been updated and identified in this analysis as a corrective move with a minor wave W terminating. The implication of the above is that a retracement of the previous upswing should occur in Ethereum classic (ETCUSD). A minute wave ((c)) of an expanded flat Elliot wave structure is identified in this analysis as the current swing in price that Ethereum classic should produce to retrace the current price move from ~ $13.16 to ~$22.24, before further bullish momentum will be sustained. 138.2% (~$17.66 )and 161.8% (~$16.77) retracements of minute wave ((a )) by minute wave ((c)) have been used as the region where Ethereum classic (ETCUSD) is expected to find support (i.e. horizontal green lines drawn on the chart). Point of invalidation (POI) for this analysis is a price close above $25 at which point Ethereum classic would have invalidated the expanded flat structure.
BITFINEX:ETCUSD
by Coin_Analyst
XRP - Bullish Pennant - 4th Impulsive Correctional WaveI expect a bit a bigger correction in order to form Pennant Formation. However, because of the extreme sell off that we saw 25th of April - it can possibly be invalid and thats why we track elliot waves in this market. In this case, Ripple found support at 0.45 level and turned sharply just like other cryptocurrencies, but beware, because Ripple can be 4th way of correction as well. Ripple’s XRP gained just 0.53% on Sunday, following Saturday’s 7.56% rally, to end the day at $0.86886, logging in a 1.25% gain for the week, Monday through Sunday. The good news for the day was breaking back into $0.90 levels for the first time since Wednesday’s $0.93193 high off the back of which Ripple’s XRP took a tumble to just hold on to $0.80 levels before a recovery through the 2nd half of the week. Sunday’s high $0.91466 saw Ripple’s XRP break through the first major resistance level of $0.9107, while falling well short of the 2nd resistance level , with a mid-morning reversal to an intraday low $0.8262 calling on support through the 23.6% FIB Retracement Level of $0.8477, buyers holding off a more material decline through to the 1st major support level of $0.8045 to bring sub-$0.70 into play. A 2nd half of the day rally, supported by improved broader market sentiment, saw Ripple’s XRP recover, while failing to move back through to the day’s high to bring $1.00 levels into play for the day. While Ripple’s XRP saw relatively lacklustre gains for the week, platform adoption across the financial sector and wider availability on exchanges in key markets will continue to be the key drivers for Ripple’s XRP. Investors will be looking out for news of exchanges announcing inclusion and an increase in trade pairings, the combination of two supporting the bullish projections for the year should things go according to plan.
BITFINEX:XRPUSDLong
by I0_USD_of_Warren_Buffett
XRP - Bullish Pennant - 4th Impulsive Correctional WaveI expect a bit a bigger correction in order to form Pennant Formation. However, because of the extreme sell off that we saw 25th of April - it can possibly be invalid and thats why we track elliot waves in this market. In this case, Ripple found support at 0.45 level and turned sharply just like other cryptocurrencies, but beware, because Ripple can be 4th way of correction as well. Ripple’s XRP gained just 0.53% on Sunday, following Saturday’s 7.56% rally, to end the day at $0.86886, logging in a 1.25% gain for the week, Monday through Sunday. The good news for the day was breaking back into $0.90 levels for the first time since Wednesday’s $0.93193 high off the back of which Ripple’s XRP took a tumble to just hold on to $0.80 levels before a recovery through the 2nd half of the week. Sunday’s high $0.91466 saw Ripple’s XRP break through the first major resistance level of $0.9107, while falling well short of the 2nd resistance level, with a mid-morning reversal to an intraday low $0.8262 calling on support through the 23.6% FIB Retracement Level of $0.8477, buyers holding off a more material decline through to the 1st major support level of $0.8045 to bring sub-$0.70 into play. A 2nd half of the day rally, supported by improved broader market sentiment, saw Ripple’s XRP recover, while failing to move back through to the day’s high to bring $1.00 levels into play for the day. While Ripple’s XRP saw relatively lacklustre gains for the week, platform adoption across the financial sector and wider availability on exchanges in key markets will continue to be the key drivers for Ripple’s XRP. Investors will be looking out for news of exchanges announcing inclusion and an increase in trade pairings, the combination of two supporting the bullish projections for the year should things go according to plan.
BITFINEX:XRPUSDLong
by I0_USD_of_Warren_Buffett
Litecoin Elliott wave analysis: 4 hr tfMy previous post for Litecoin (LTCUSD) can be found here: It was mentioned in this post that the price swing for Litecoin (LTCUSD) was either shaping up as a correction or just terminated a Minute wave ((iii)) position. After further review, 7 swings in price action from ~$113.08 on April 10, 2018 to ~$165.47 (price close) on April 24, 2018 can be identified which indicates that there is a higher chance of the move been corrective as opposed to impulsive. 7 swings in price action is corrective in nature. The labels used in the analysis have therefore been adjusted accordingly to reflect the corrective mode, with a Minor Wave W used to reflect the termination of price at the mentioned price close of ~ $165.47. The implication of the above is that the price of Litecoin (LTCUSD) should head higher once the present correction (Minor Wave X) is complete. Possible regions of termination of Minor wave X include Support 1 which lies in the region of a 61.8% (~$133.17) of the previous price swing so there is a good chance that Litecoin (LTCUSD) will target this support area. If not, a lower target (Support 2) is between ~$128.38 and $124.697.
BITFINEX:LTCUSD
by Coin_Analyst