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Zigzags

Bull or bear?Hi there, I obviously messed up something in my previous counts, I'll all check it one more time tomorrow though everything was going surprisingly well till say, today. Did we reach the end of today's retracement? Perhaps. We'd have retraced a clean 50% of a cycle begun on January 4 and would be now in a new impulsive trend which wave 1 is done and wave 2 being done: it reached 38.2% so far and may well go a bit lower until 50% ($37,060) or 61.8% ($36,600). If we got once more under $35,100 I would move my A and B wave to respectively today's bottom and what I'm so far calling wave 1 at 39k, and C objectives would have to be either 100% ($32,760) or 161.8% ($28,900), which would happen to correlate with much bigger light blue wave IV's targets around 38.2% retracement. Let's see what BTC says, it's pretty stimulating to see what interesting trade opportunities are coming to light.
by Khosravani
BitCoin is craving for upside| #bitcoin #crypto #btcusdTraders, The high at 19,697 closed the 5-5-5 sequence ending primary wave (3) advance impulsive wave paving the way for a major correction. Wave (4) has since begun a counter-trend decline, taking the form of an expanding flat pattern, labeled (a) – (b) – (c), although the bigger corrective structure seems incomplete with the patterns projecting further correction. The first decline labeled wave-(a) has been developed into a double Zig-Zag pattern ending at 13,501. The following advance was also a three-wave Zig-Zag up to slightly record highs at 19,891.99 labeled as wave-(b), where the fib price ratios forecast was pinpointing, indicating a reversal.Worth mentioning, that wave-(b) cannot be considered as a 5-wave impulsive sequence but only as a part of a bigger corrective structure subdivided into a 3-wave internal structure.Then, of course, we had this devastating 5-wave decline labeled (c) which is the last phase of the expanding flat pattern, to 10,400 which was close to 38.2% of wave (a) extension but right on target of the internal 5-wave sequence fib price measurements. Inside the (c) wave decline we can witness what fractalization is, or Self-Similarity where similar patterns develop, through different degrees of trend. In our case, we can observe how the 5th of the 3rd wave of the bigger main trend and the 5th wave of the main trend are both extended. Now, after the expanding flat completion, a five-wave sequence with an “unusual” 1st wave extension has since unfolded, highlighting a possible “reversal signature”, making all the way up to 61.8% of the previous sharp move. Price is going through some retracement decline, covering the chart as a 2nd wave corrective structure, still incomplete. When complete, I think there is going to be a very strong accelerating advance which is going to begin the primary (5) wave. Thanks for your attention Trade with Discipline Best
COINBASE:BTCUSDLong
by ChrisMark
6
Gold at the verge of a bullish move; Elliott wave analysis?The recent bearish move in Gold has seen price almost recovered the last gains. I think there is more room for price to rally further as the current dip looks corrective - a zigzag pattern. The last wave of the zigzag is a clear diagonal pattern. I am expecting a strong bullish move to break above the last high. If this wave count is correct, an even stronger impulsive bullish wave would be seen at least an a-b-c bullish correction. If there is a breakout, my entry price will be 1281/2 and target will be at 1319. It's important to note price behavior after the breakout and watch the pattern emerging. The zigzag mentioned above could also be a leading diagonal and the breakout rally a minor correction that will lead for more bearish move. Anyways, I will consider a bullish trade for this and target 1:3 R/R while I adjust my stop loss as price makes new lows if it foes in my direction.
FX_IDC:XAUUSD
by elyte