Diagonal trianglesThings that do not follow Elliott's basic rules can be seen in wave 1 or A or B or C or wave 4. The difference between these models is in the type of microwaves, which are multi-wave.
Elliotwavetriangle
BITCOIN UPDATE ON THE 15MINS CHART.Here is an update on the 15mins chart.
3waves down from 11.2k region to 10.3k , and wave 4 is forming an expanding triangle.
Expanding triangles are five-wave triangles.
Triangles are pattern that appears usually in the middle and at the ending stages of the trend, they are usually seen in wave 4 in a motive phase and waves B & X in a corrective phase. I think I should make an educational post on triangles later.
From the chart we can see the last leg of the triangle (wave E) forming
If you're yet to enter the short position, wait for the triangle completion. I think that should be around 10.6k region or slightly higher.
From there, we can re enter a short position and ride wave 5 to the downside.
Once the correction is over, I'll post an update on the potential ending point for wave 5..
Don't forget to hit the like button if you enjoyed this short update. follow me to get more hands-on update. Share and drop your comments below if you want me to make an educational post on triangles.
Your viewpoint and questions are also welcome in the comment section.
Thanks you.
See you soon traders. Namaste
Overview in short term: Ethereum is bullish!!!Hello, in this analysis. Ethereum show a momentum of gains of the price.
In summary, the price entry was around of $362-$364 USD with a SL at $352 USD and now the targe profit is $$408,68 USD. That was my previously analysis on the past 3 hours.
We updated a new zones of Daily, that mean the yellow zone set as Daily zone and we found out a demand of boughters. Now, very important that range it's could be a Ethereum into this. As recall, on Saturday I will going to make a overview of Ethereum from Daily until weekly to see it in short term what we expect!!!
Now, in H4 timeframe it's a nice opportunity for long position, because we proyect that Ethereum want to reach the $408 USD as take profit, now as Ethereum was broke up this ascendent triangle, the price is leading to go higher in the exact level of what Bitcoin in the past week their cotization was above of $400 USD.
And finally, in H1 timeframe we see that Ethereum is continue bullish while Bitcoin make the sentiment bullish for the boughters in the demand's zone.
Well, tomorrow I will going to make an updated of my analysis of Bitcoin, Ethereum and also, I wil going to make an analysis of Litecoin.
And guys, congraluations of the Forex pars if you follow the signal of Euro/ U.S. Dollar and Sterling Pound/ U.S. Dollar, both we get a nice profit: 70 pips on Euro/ U.S. Dollar and 140 pips on Sterling Pound/ U.S. Dollar. Both it's was a earning of 210 pips in one day.
So, I see you tomorrow and Good night!!!
Alert: Bitcoin is forming another chartist pattern; not bullish!Hello, in this analysis, Bitcoin is forming a descendent triangle, that is a bearish expectative.
So, guys, in summary, as we are into this kind of chartis pattern, the probability is that we are in fight of bears and bulls, well, as this week the Bitcoin movement was boring, but, I found out another chartist pattern that inmediately we need to see another perspective of the market. I reccomend to closed up your long position, becuase I believe that we may to see another crash taht Bitcoin want's to leading to the $9,000 USD zone's.
And guys, this is H4 timeframe and we see that we are on the elliot wave triangle cycle of ABCDE, and we finished the E to later see a crash inminent, also, if the S&P 500 crash, Bitcoin could to make follow hte S&P 500, that they both we need to check out and make the comparasion.
