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West Texas Crude(WTI )....Positive Swans, Bats and Wolfves Picking bottoms particularly recently in the oil (WTI) complex, sometimes produces sticky fingers. That said, one could build a technical analysis case for a bottom formation at current levels. A) Longer term we have a completion of a Harmonic Bat. (insert) B) Shorter term turn we have : 1) A completed Wolfe Wave 2) Black Swan harmonic formation 3) An ABCD formation going back to last August. 4) Oct/Nov double top target hit 5) Mildly positive momentum divergence So how do you play this. I would certainly give WTI a chance to find a bottom and advance upward A penetration of 3 of the Wolfe Wave provides an entry point at $73.65(marked) Then a Wolfe Wave Target is set up for late January at the $85 area. Using the Black Swan harmonic we get targets as marked. If this the best way to play bottoming oil ? Probably not but its a signpost to play your favorite horse. Please note... Fed activity next week, year end illiquidity and Eastern European events should magnify WTI's volatility going forward. Good Luck and I will update as needed. Not investment advice, do your own due diligence. S.
BLACKBULL:WTI
by Steve666
Niocorps Developments - the Big One CountThis Eliott Wave Count of Niocoorp Develoopments reflects a bullish longterm Supercycle upward impuls pattern of the marcet. Wave 3 upward impuls pattern should lead the PPS of the shares above 106 Dollar propably higher, after the a-b-c running correction of the past months. If the abc correction should last a little bit longer the 0.84 Dollar are an exiting entry point. Bu this scenario of a wave c extension within the running correction is not necessary. PPS can explode anytime within the start of the Wave 3 upward impuls. Note: This is no advice to buy or to sell a stock. Stock can rise or fall. Each investor is acting on his own risk.
NLong
by Indextrader24
1
GOLD Bearish price action in short term!A strong rejection was evident in gold at the $1810 level; which if you have seen my previous ideas on the longer term elliot wave count on Gold, there is valid argument to suggest a larger B wave top was formed at $1810 whereby a macro C wave down can occur and the waves shown on chart are the beginning of the subwaves this larger C wave move. From the posited B wave top gold was rejected in a 5 wave impulse of which a lower high was then formed suggesting a 3rd wave impulse down can occur and a bear trend formation. This is most likely the 5 wave count of a higher degree Wave 1 to the downside which in previous ideas would take out the $1615 low in a zig zag formation. Some likely targets for this 5 wave count to complete would be the 2.618 at ~$1695 with a 3rd wave possibly finishing at the 1.618 extension at ~$1736. As this idea plays out there will be more information as to assesing where price lies in the wave count and the clarification of sub wave posiioning and degrees. Please like and follow for more Elliot Wave Analysis!
TVC:GOLDShort
by NICKVASS10
Finish the wolfe wave around 1448Target box near term is blue box with point target 1448, solid green trajectory should respect timeline drawn, dashed extensions is just illustrative that it will bounce after the move and subsequent retracement. Has resistance at current level which it will break with explosive upside in coming days - has been re-accumulating for over a week. The pullback from 1400s will likely be a backup/retest of the accumulation range breakout, this is the SoS
BITFINEX:ETHUSD
by JerryManders
1
GOLD longer term analysis (Bullish)Gold has had a strong uptrend since puting in a low of $1040 which preceeded to an impulsive wave structure to the upside with a 5 wave structure evident; a clear 3 wave structure can be seen in Micro Wave 2 before a strong Micro Wave 3 occured to the upside which was the largest and most impulsive wave of the Micro degree thus following the elliot wave rules whereby wave 3 cannot be the smallest wave in an impulse. The Miniscule Wave 5 was an extremely extended wave which can explain why a truncated Micro Wave 5 occured. Interestingly, a similar fractal can be observed in the Micro Wave 5; whereby similariliy an ending diagonal structure occured (overlapping waves) with an extended wave 5 occured much like the previous mentioned Sub Micro Wave 5 withing the Micro Wave 3 occurence. The Micro 4th wave appears to be a truncated WXY correction down, before a truncated/ double top at the $2075 region occured. In terms of time since the Micro cycle completed, price has only been correcting for a short period of time relative to the impulse therefore it is unlikely that gold can make a new high without correcting for a substantial time relative to the Micro degree cycle to form a Wave 2 bottom of a larger Minor Degree Wave where much higher prices can be anticipated in a Minor Wave 3. From the Micro Wave 5 top, price has come down in 5 forming an A wave and a likely B wave corrective structure has occured and a C wave down can be expected. There are some key levels to look out for in terms of a C wave bottom using fib retracenment, fib extensions and also general support levels. fib retracement: 0.5 - $1562 0.618 - ~$1450 fib extension of A wave: 0.618 - $1560 0.786 - $1504 1 - $1422 Support levels: $1532-$1555 & extremely key $1450 & 1350 Please like and follow for more Elliot Wave Analysis I will post lower time frame analysis on gold
TVC:GOLD
by NICKVASS10
ABC completion to upside downward impulse structure forming!!The forecastable ensuing path for bitcoin price action since November 9 when bitcoin bounced off ~$15600 was paramount to the identification of the wave structure of that such bounce; whereby, price if zoomed in bounced up in a clean 5 wave count with extreme validity. Therefore, given such wave structure of the bounce we could expect a 5-3-5 flat pattern to follow; from the ~18200 high we then came down in a WXY triple zig zag formation hence explaining why a low was not broken and the identification of corrective price action can explain why a break lower did not occur. As a B wave cannot be in 5 waves, 3 wave or zig zag variations were only likely with a 1:1 extension of wave A occuring to the bottom of B wave. There is a high likely hood that the C wave top has been found with a 5 wave impulse structure evident to give validity to a ABC correction completion at ~$17400; the C wave acheived close to a ~0.786 extension of wave A which shows some inherent weakness in the market. From the top a strong rejection was evident and the beginning of a proposed impulsive wave structure to the downside as identified in the chart is extremely likely; presented as a 1,2 followed by another 1,2 impulse wave structure. Lets see how this one plays out. Please like and follow for more Elliot Wave Analysis!
Short
by NICKVASS10
5
EURNZD 60 minutes completing 5 wave short term long expected. EURNZD on 60 minutes chart, completing a 5 wave movement respects to the elliot Principles, currently wave 5 facing a truncation at the price level where wave 3 ends. All 5 wave respects fibo levels as per the principles of wave analysis. RSI showing divergence as showing noticeable higher value at the same price level, where earlier showed lower value at the same price level. Wave A can possibly start at the break of the triangle formed, and can end at the noticeable previous supply zone. OANDA:EURNZD
Long
by SATHISHKUMARSM
USD/CAD corrective mess triangle/complex correctionthe wave count dictates that we are in wave X of a minute degree and yet we haven't show the complete pattern so here is the probabilities: 1) Triangle : it is the highly probable pattern, and since the wave B/X is smaller than A/W and wave C/Y is bigger than wave B/X allows us to assume that a probable triangle would be a barrier triangle, with that being said we should anticipate price being supported at the red line, currently price has made and distinguishable abd correction but even with the NFP report coming out it positive for the Green price couldn't complete wave D this indicates to us that price is preparing a WXY correction inside of wave D but this still remain to the price to make it. 2) WXY : this is probable if price hasn't been supported at the red line we can assume that this corrective pattern is not a triangle which led us to this probability (WXY correction) but we cannot confirm this count until the price break the green line that server us as a support . 3) WXYXZ : as all wave practitioner i do know that this correction is rare but it still possible if price didn't visit the red support and continue it's rising.
Short
by Wyckoff_Monk