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|wave5 of 3rd of a Third of a 3rd|elliotwave|WAVE3*UPDATED*LONG|As the title suggests, here is the updated chart of my third of a third of a third elliot wave hypothesis. Expect a near vertical rally from todays low, as we are within a sub-wave3 of the first wave 5 having completed the larger degree wave 4 of the even larger wave 3. Next will be consecutive wave 4 wave 5 wave 4 wave 5 of higher degrees to complete the entire pattern sometime this Spring. Feel free to ask any questions.
CME_MINI:ES1!Long
by thatsblatzphemy
Long ETHUSDT for +4% scalp A nice little correction to supportive area and some buying interest on 2 hourlies; with scope to scale in lower. My basic strategy with ALTS is to look for buying opportunities, and then NOT HODL, but take 4-7% scalps. Due to the general volatility this is a greater than 50% chance of occurring providing take the profit and not be concerned with missed profits. In this case; * largest recent correction was -20 % on dailies * It has just corrected -9.5% so entry here for +4% or around 241, with 33% buying power account size * I will add 33% every -4% drop ( -9.0) and then calculate new average price. * Take profit from new average price at +4% NO MATTER WHAT.....
Long
by Aussie-scalper
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
TVC:SPXLong
by DaddySawbucks
52
The Complete Battleplan. FRONT NEWS!Finally the rally price action proved previous forecasts to be true(ish). The question everyone is asking - when does the rally end? I've carefully mapped out all four basic bullish scenarios I can see in this market. We're about to see at least one deep correction model that will retrace 15-40% of the typical 12345 impulse, if it is finished(if so, then bulls will rest for a day or two,' observe the battlefield, confirm the price stability). I suggest 4 basic scenarios, all bullish. So DON'T panic, one deep correction may easily form allowing the bulls to quickly replenish lost soldiers and bring even more fresh whale buy-ins to our party! I've tried to consider all major res/supp levels and the common time lengths that suggested correction models commonly feature for BTCUSD(to the best of my analogish brain judgement). Chart tells you everything you need to know: two most probable scenarios are all mapped-out with the consideration of known levels. I also suspect that the FOMO is great right now and the current impulse has a lot of driving force left to continue surging up to 8.8k+ without and deep retraces. I vote for THE MOST PROBABLE SCENARIO I. (subgroup II. is as probable as I.) Do you? The bigger picture can be observed in the related ideas... below... They are all parts of the same market analysis.
COINBASE:BTCUSDLong
by orbborisson
3
BTC still in downtrendI believe that, while much has changed since the last big bull run and subsequent bearish period, BTC is still in a downtrend and I would not recommend going all in for a long ride up until the price reaches 2250 - with this in mind I am setting my take profits lower on long positions and only trading with margin in short positions - I am predicting that BTC will fall down to the 6500 level, consolidate, break down to the 4000 level, consolidate, and break down to the 2250 level (others have predicted a fall down to the 1000-level), consolidate, and then uptrend - I have been trading for many years but am still learning technical analysis (I know, it has taken me way too long :/) so I do apologize that my chart is not very complex; however, I wanted to warn new traders not to hope for a upwards breakout that will result in a trend-change on the 4-hour and daily charts - currently, BTC looks like a buy when looking at the shorter-time-frame charts such as the hourly, 30 minute, and 15 minute, and in fact, it very well may be a buy for a shorter-term long position; however, traders should be weary of a potential decline in BTC - additionally, BTC is traded globally and different regions have different news outlets and different regions act on news differently, I have found that, during the U.S. trading session, BTC is often pumped, while during the normal trading hours of other sessions around the globe, bears retake control - I hope someone benefits from this post, it is my first post - feel free to give me feedback
Short
by grahamtownson1
USDCAD Support and Resistance Trading StrategySTRATEGY: Support & Resistance Trading Strategy DETAILS Analysis TF: 4H/1D Focus TF: 1H SL: Just above Bearish Engulfing (0.5ATRC on 1H TF) AOV: Resistance Zone 1D Analysis MC: Sideways - Price bouncing inside Horizontal Support and Resistance 4H Analysis Price struggles to create a new High, forming a Bearish Engulfing (not yet closed - but it is a high momentum candlestick) 1H Analysis ET: Bearish Engulfing - Confirmed Bearish Engulfing occurred on 1H TF. Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF Note: This post is my personal journal/opinion only. Please trade at your own risk. #ExcellentTrade #BearishEngulfing #SupportandResistance #MovingAverage
Short
by jumpstartscript
GBPJPY Support and Resistance Trading StrategySTRATEGY: S&R Trading Strategy ID: 1209 Analysis TF: 1D Focus TF: 1H AOV: Minor Resistance Area ET (1H): Bearish Engulfing CP: Ascending Channel 1D Analysis MS: Sideways - Price is moving in a range 1H Analysis: CP: Ascending Channel - Price is moving inside the Ascending Channel. However, price failed to break above minor resistance of 140.597. It also looks like price made a pullback under the Ascending Channel. Price closed with Bearish Engulfing which act as our Entry Trigger (ET). Short Position SL: Just above the Minor resistance (140.618) TP: 2.19R - Just before Major Support Note: This post is my personal journal/opinion only. Please trade at your own risk.
Short
by jumpstartscript
NZDCAD Ascending Channel Counter-Trend StrategySTRATEGY: NZDCAD Ascending Channel Counter-Trend Strategy DETAILS Long Term Trend Time Frame: 1D/4H Focus Time Frame: 4H Entry Time Frame: 1H Market Condition Long Term: Downtrend (based on 1D TF/200EMA) Short Term: Uptrend/Consolidation (based ion 1D TF/10EMA and 50EMA) inside Ascending Channel CHART PATTERN: Ascending Channel Area of Value (AOV) RESISTANCE Static: 0.85201 - 0.85075 Dynamic: 83EMA: 0.84701 100EMA: 0.85002 SUPPORT: Static: Minor: 0.83774 - 0.83683 Major: 0.83385 - 0.83158 Dynamic: - 10EMA: 0.84220 - 50EMA: 0.84146 ENTRY TRIGGER(s): 1H: Bearish Engulfing 4H: NA 1D: High Momentum Candlestick going to Resistance Entry Price (EP): 0.84759 Stop Loss (SL): 0.84953 Take Profit (TP): 0.84059 RRR: 4.02 ANALYSIS 1D - Overall trend is showing downtrend based on 1D TF - 200EMA. Heikin Ashi is still uptrend but the price is currently struggling to break above resistance level of 0.85201 - 0.85075. It is also supported by 83EMA and 100EMA which act as Dynamic Resistance. www.tradingview.com 4H - Looking at the 4H TF, we can see that Price is moving on an Ascending Channel. Short term trend showing uptrend which is supported by Heikin Ashi. However, as stated before, the price is currently struggling to break above Static and Dynamic Resistance on a higher Timeframe (1D). We will give more weight on a higher timeframe as Smart Money focuses on this time frame. www.tradingview.com www.tradingview.com 1H - Our Entry Triggers are always on 1H TF. Here we see that there's a Bearish Engulfing Price Action happened on the Static Resistance AOV. This acts as our Entry Trigger. www.tradingview.com www.tradingview.com OTHER ENTRY REASON(s): High Momentum price action approaching resistance usually reverses as it has no higher highs to support its move. ACTION ITEMS: 1. Exit/TP on Higher Timeframes: 4H or 1D 2. Scale in on Entry Timeframe (1H). IMPORTANT: Always move the SL on Breakeven after significant move. Scale in as necessary and move the TP of the initial entry to the SL of new entry. This way, we will be able to Minimize risk and Maximize potential Profit. NOTE: This post is for my reference/journal purposes only. Trade at your own risk.
Short
by jumpstartscript
DJIA Long Cycle: In Fifth of Fifth Primary EWChart says all; a few salients: Long Trend: The entire movement of late 90's up to 2009 was a giant Zig-Zag correction of the 90's Bull Market. The 2000 dot-com bubble burst provoked a mighty B wave lasting several years, that ultimately culminated in the 2008/09 crash, when prices fell below 2000 levels in a great 'h'. The current cycle began 09 March 2009 with the initiation of a long string of Minor and Intermediate EWs, interspersed with ABC corrections and more recently, another great zig-zag that began in Feb 2018. This pattern is not yet complete; we are enjoying a 3-Drives end game run to ATH, now in the second Drive. A minor ABC in November to test lower TL of wedge should provoke the final Drive to the Top, culminating in Jan 2020 where the long TL intersects the rising wedge from 2018. In near-term: We have Bearish divergence between indexes now even as go-go stocks eke out new marginal ATHs, most of the market is already declining; breadth is poor and volume quite low, on Monday 28 Oct volume of 1.5k m shares was half normal and the VIX actually increased on a new ATH for SPX; NQ Composite got within four pips of it's ATH, but DOW is still over 300 off its high, and RUT never got close. DJT transports were actually negative, a leading indicator for the broader market, which may have a small incremental gain left, or perhaps not. There are not a lot of buyers up at these stratospheric prices! Certainly no accumulation is taking place here. Outlook: Uncertainty in Feb/Mar 2020 of an election year with an impeachment ongoing and the disappointment that a finalized bona fide deal with China is years away, if ever, coupled with Fed decision to hold rates to 2% inflation, no more or less, and weak ERs from a sluggish economy will certainly weigh on global financial markets and likely create a rather Bearish mood. Distribution will be protracted and furious. Concluding Projection: The completion of a Primary ten-year cycle in Jan or Feb 2020 will likely usher in a new Bear market. A Correction of 20-30% is both possible and likely. The Megaphone projects Dow ~20K by mid-2020 to complete the zig-zag pattern, a 7K pip selloff > 26%. As elections near, uncertainty will pass after Nov 2020 and the next Bull cycle might begin in 2021, if the Bear lasts only nine months. A three-year Bear would be a tough trading environment, everyone gets killed from constant whipsawing volatility. If we get a 1929-style correction then a long grinding Bear with persistent erosion of value is quite possible. A Warren administration would be the death knell! This is just another observation and does not constitute trading advice; seek that from a qualified advisor please, and trade at your own risk! GLTA!
DJ:DJIShort
by DaddySawbucks
4