Possible lower reversal area for BTCIf BTC is in the latter stages of a correction then the chart shows where that may happen. I do not label my waves like the "pro's" but only in a way that make sense to me while adhering to the same EW principles.
It would be interesting to see if this scenario can play out but a strong move below that zone and BTC could be in serious trouble (if not already).
Zigzagcorrrection
GBPCAD Forecast - Wave AnalysisGBPCAD is under short term correction with Wave C in progress. Buying opportunity comes at 1.6250 levels @ 50 to 61.8% retracement zone where Wave A = Wave C for Zigzag correction with stoploss just below the current low around 1.5835 levels with targets around 1.7060 and higher.
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ABCD pattern and C wave of a Zig Zagtwo things happening here:
A gorgeous ABCD pattern and the possible completion of the B wave of a Zig Zag.
Both would indicate a long is in order for USDJPY.
Entry now or wait for further confirmation of the long, I have a stop order at 110.600
TP1 around 111.300 with is full of levels
TP2 111.910
Gold may be back at 1400-1500 by year endHere we have a nice 5 way decline in gold starting from the 2011 high to the low of 2015. Now we can have a potential pull back to the 1400-1500 zone which represents a the 50.0 fibonacci retracement from the lows.
If the high of 2016 is confirmed to be an (W) wave , we can have an double or triple zigzag pattern formation with the AB=CD in the 1400-1500 zone
Alternatively if the high of 2016 is an (A) wave of a flat pattern , this would mean that prices can fall to around 1049 by the end of the year .
ideology of the previous post visa versa (AP)Bullish flag a continuation pattern indicating an upward acceleration unless price breaks the above resistance line at 1.0828 levels. A further move upwards is expected at the above resistance line at 1.0948 following again with the continuation pattern that would Trigger the long awaited target of 1.0978 & the second resistance of post us election thereby completing its zigzag correction.
Goodluck,
Regards,
Growing forex.