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Wavetheory

SPY (S&P 500) BULLISH until July/August ELLIOTT WAVE THEORYThe S&P500 ( SPY ) has seen lots of sideways price action and consolidation for the past few weeks or so, but I believe that we could be seeing an impulsive break-out in the near future. This would form the impulsive wave 3 of a final wave 5 push to the upside before the bear markets kick in around the summertime months (July-August). We will need to see confirmation of a bullish break-out to know that we have entered an impulse wave to the upside. If SPY can break-out over 421-422 (heavy resistance levels), targets of 430+ are very achievable as denoted in the charts. A possible explanation for the recent lack of volume and price direction could be due to the fact that meme stocks ( AMC , GME , BB, BBBY , WKHS , etc.) have taken over the market and soaked up buying interest. Once buying power gets re-directed back into S&P500 stocks, we should see some bullish momentum that is needed to kickstart the impulse wave to the upside.
AMEX:SPYLong
by AnthonyW99
6
All Bullish for Cardano /ADA (but it depends on BTC) Lots of news for Cardano so I had to check out the chart. Two two scenarios show bullish price action from Cardano, which is highly correlated with BTC. First scenario, plotted in blue, showing the rebound from the BTC crash (just above the .618FIB) as leg one. Leg 2 being a shallow retracement with ADA currently in leg 3 moving through it's current resistance. with an ultimate price target of $1.86. Second scenario, plotted in green, shows ADA currently in the rebound from the BTC crash as and the historic resistance line (plotted in white) as the end of leg one (where we are currently). Leg 2 being a more severe retracement with ADA in leg 3 moving through both it's current resistance and historic resistance levels making a new ATH close to PT 1 and then retracing on leg 4 before ultimately topping out at the 2.618 FIB and a PT of $2.34. Both scenarios are highly dependent on BTC at least maintaining current levels.
COINBASE:ADAUSDLong
by BigJoeKnowsCrypto
1
$BNB wanting to hit new highs this month? This week? March is a notoriously bearish month for Bitcoin and cryptos in general so its no wonder the bulls came out swinging like, "It's March, and? This is life now" and I love it. I am a believe that Bitcoin is not going to have another bear market and instead continue to go through these market cycles at the speed of light. My analysys on $BNB , when I noticed it followed the original waves I drew, the red ones being triple combo triangle waves, the purple are correction waves and the yellow are impulse waves which is what I believe is going to happen next. I find Elliot Wave Analysis to be a very accurate price predictor in all the time I have used it. RSI very bullish with lots of room for growth It is hard to see but the conversion line has been rallying back about the base line. All this consindered, I am thinking that if you are not in BNB yet that today, March 9th its possible you could catch some coins for 240/250 because it looks like it will be taking a small dip over the next day or two. After that we are going for 300, and then 340! If you like my idea please give me a like and comment and follow and all that awesome stuff!
Long
by EchoPhoenix
BTC Wave Analysis Theory - I like to use history to predict future wave patterns. - I fully understand that it is very unlikely that history always repeats. - This chart took me five minutes to make. - The point is to point out that we are still early in this bull run. - I expect not the same wave patterns to play out. There is good probability it could look something like this. - This theory is based on the moving averages & historical wave pattern of BTC. BOLD PREDICTION FOR BTC 2021 - Ath may come sooner than most think. Indicated in the chart. This is not a price prediction! Feel free to leave any comments. I would love know what other people are thinking. Oh and if you like drop a like.
BNC:BLXLong
by AthenticWhale1
4
''The Great Gartley Controversy''Here is a link to Scott Carney's own web-page, supposedly something he has written himself: harmonictrader.weebly.com I want to outline something interesting here. I quote from the article above: '' It is important to note that there are others who have assigned different Fibonacci numbers to the framework of the Gartley Pattern. However, they have used a variety of Fibonacci numbers at the D points, essentially labeling any AB=CD pattern as a Gartley if it completes at a 0.618 or 0.786 without regard for the precise alignment. This has created much confusion among the technical community and it has challenged the reputation of the pattern. '' Before going further into this, I also want to note a key takeaway from this quote. When he says that there are ''others'' who have assigned different Fibonacci numbers to Gartley patterns, he is talking about Larry Pesavento. Before ''The Harmonic Trader'' was released by Carney in 1998, Pesavento had already published books on the subject in 1997. It did not take Carney long to trademark harmonic patterns thus eliminating Pesavento's chances of ever mentioning it again. In the article above, Carney talks about people spreading misinformation, when in fact it turns out he's actually the one doing it. He went on to market it, and of course the brokers loved it! So enough about all this controversy.... Lets look at the chart! Here we see what appears to be a Gartley pattern formation with a completion at the 0.618 retracement! I wonder what Carney has to say about that? Should you wait for the 0.786 retracement to enter as the mainstream harmonic trading strategies suggest? Pesavento simply explained that what we are looking for is golden triangles Carney makes it very complicated. What are your thoughts on The Great Gartley Controversy?? Leave a comment below
BITMEX:BTCUSD.P
by MikulovicFOREX
1
Dollar Index Strength and USDJPY Targeting 106.800Hello Fellow Trader! Dollar Index Strength and USDJPY Targeting 106.800 DXY – US Dollar Index 6 month sell off due to FED stimulus and investors seeking larger returns from the equity market has possibly found a short-term floor. In September, DXY has already risen 1% and has more room to move technically as it eyes off 106.800. Key Points: - Price holding above the 200 EMA - Price holding above the 50 EMA - Price finds support at Fibonacci 50% of September range - Support cluster with trend line - The 50 EMA may be violated before the next move up. This is not a reason to exit the trade. - IF: The 200 EMA is met, it is critical to wait patiently for a candle reversal that you have back tested and proves to have an edge with USDJPY. - Optimal entry is the 61.8% Fibonacci retracement level. Key Levels: Support – 105.850, 106.000, 200 EMA Resistance – 106.550, 106.700, 106.800, 106.944 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 105.960 Supporting Entry – 106.060 – 106.150 Candle Reversals for entry - Bullish Hammer - Bullish Engulfing - Bullish Piercing The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 105.850 level and violates 200 EMA – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 105.960 – Target 1 106.550 = 4x Reward to Risk Optimal Entry 105.960 – Target 2 106.700 = 5x Reward to Risk Optimal Entry 105.960 – Target 3 106.944 = 6.7x Reward to Risk Supporting Entry 106.060 – Target 1 106.550 = 2x Reward to Risk Supporting Entry 106.060 – Target 2 106.700 = 2.7x Reward to Risk Supporting Entry 106.060 – Target 3 106.944 = 4x Reward to Risk
Long
by tradetheday