possible wave 4 triangle is forming,i am waiting for a breakout of the down trendline to sell
A nice descending triangle with 7 touch points. My backtesting has shown me that often the oscillations get closer as the triangle gets closer to its apex, and we see here that this behaviour is very strong. The key here will be the open of next weeks trading, where we will see whether it will break above the descending line and ruin the triangle or if the market...
Please see the post on my website for commentary on this chart. cryptowaves.com
HERE R MY REASONS FOR A LONG TRADE NOW: 1. BAT PATTERN COMPLETE 2. RSI OVERSOLD 3. WAVE 3, WHICH IS THE 1.618 OF WAVE 1 SO, THIS PAIR MIGHT GO FOR A WAVE 4 UP. SL BELOW 1.13 OF XA TP AROUND 1.433 GOOD LUCK MY FRIENDS!
Overall bias for GBPAUD is bearish 1.Numerous reasons 2.Firstly making lower lows 3.clear down trend 4.The pound is weak 5. Break of key level 2.0000 6.Break of strong trend line 7.Bearish candles Wait for retest if you want a better entry :) Happy trading
Overall bias is Bearish -Firstly we have bounced of key level of 1.7000 -we have broke trend line based off 4 hour time frame -We had a small retest -I do believe we will break previous lows -Previous four hour candle was a bearish hammer -A lot of wicks to the upside Off the daily -We can see huge wicks to the upside on the Ket level -Yesterdays candle...
21/02/16 mini crash might be an effect of the euphoria of the previous day and the consensus news. the 15 dollars fall was a correction , the uptrend is not broken and might go near 500 USD in the next 3-4 days . with all thoses good news ( consensus etc etc ) and the global economy issues ( china and europe i am waching you ) i dont see any reason for the price...
Could this be a possible 1 wave down? If so I don't think we'll go much higher for now - maybe to 1950
Reasons for -Firstly on the four hour we are in a area of congestion and sideways -We are making lower high -we have bounced of major long term trend line on the four hour with a Bearish candle -Previous candle was a doji -Also we created a corrective structure to the upside and we have broken it -So we are ready for the next impulse move to the downside -Not...
It looks like this massive triangle may just come to fruition. Would be insanely bullish. We still need to wait for this to play out but it looks like it may work out timing wise with the halving hype and a possible blockchain size resolution. Time will tell.
I'm expecting price to bounce off the trendlind and make one more downward movement before shooting up and breaking the trend line. If price bounces off trendline and consolidates, it would be a good and sure short term sell, followed by a good and sure long term buy.
in a ideal elliott cycle on this chart we are in a C correction that may be going short for next 3 month
Reasons for -After huge move and break out of box range a week ago price has risen and become very bullish -Therefore i believe it will continue to rise till 1.15000 -To confirm is bullish strength it has made higher highs -And higher lows -Creating a structure -Also on the four hour we can see a long bearish wick to a downside which shows more buyers then...
USDCAD Can Be Rising For make third wave of zig zag correction
It looks like Bitcoin has just completed Wave (c) which is most likely a terminal impulse. This means that the overall (unconfirmed) pattern is an Irregular Flat on the daily time-frame, however, this pattern remains unconfirmed until we break the 0-B base line. Until then it is still possible that a triangle could form here. If this is actually an Irregular Flat...
It is possible a wave 2 pullback is now complete. In wave 3 we have a great entry from a wave 2 "blue 2" pull back for a Sell position.