I have altered my count a bit in order to find the best possible valid count. (The big picture remains the same although.) The count I see, that could explain in a simple way what is going on is the following. We haven't finished the wave 5 from the collapse of December. But we are still on the extended wave 5. On this count 38 is the bottom and if we pass it...
Follow up here. If my count is correct (which is until now), we shall see a move higher and complete the primary corrective waves of WXY, which it seems to be the A wave from the corrective ABC waves after the big drop from 230. After that I expect a B corrective wave and then the C and the end of the corrective wave and hopefully the breakout from the lows.
I can't find any bull case (just yet) on technicals. Although, there are few targets for bears here. It seems that we have a bear flag and Abcde move. The e wave, which is form from ABC wave, has 3 possible targets according to fib levels, all inside in the flag... We are touching the 1st at close. (sometimes the e wave is shorter) If we have a break down next...
My Elliott wave count for NVAX. I expect a re-accumulation and a visit at the low 60s maybe will touch 50s before going up again.
My Elliott waves count for novavax. Still on correction...
Taking a long position for the potential head and shoulders pattern.
Very interesting to see what will happen on Monday (ER call). Rising wedge as well... most probably we will follow the channel and finish wave 5 at around 65$.
Novavax will complete primary wave 2, which is an ABC correction. In my opinion we will visit again 60s in order to complete the wave 5 within wave C prior the new wave up.
Taking a short-term short position here expecting to revisit the low 70s. Also hidden divergence in stochastic.
Xbi short term; we might see a reverse hs move to around 100-110. This will complete the retracement of wave 4. After that a wave 5 move at around 70s will be in play and considering the inflation head winds, it might be possible.
After following the price action the last couple of months, it is now so obvious that we are in a Wyckoff accumulation. I look now for a shakeout event to happen on the next following dates, which will test the supply/demand balance in the low 60s, before the back-up.
This is an updated chart to include new price action and the impulsive wave 5 structure. The target remains the same.
Apparently, my last count was incorrect and I have to recount the Elliot waves. This is the beauty of Elliot waves, if your count is incorrect you start a new count with a higher probability to be the correct one. And always manage properly the stop losses and profits. I started to count from a larger time frame to a shorter one. So, after wave 3, we started a...
As bitcoin stays under 42k, makes the 4th wave count valid. The 5th wave should take it down to 30k area. There will do a double bottom and then back to retracement levels.
BITSTAMP:XRPUSD In my opinion, XRP will do a finishing move at 0.53, which will be a triple bottom. Then will start a new up-trend wave cycle.
NASDAQ:NVAX According to Elliott's waves theory, we finished a cycle from $230 to $85, plus an extension to $66. Now we have started a new cycle, which, I assume is until the bottom of wave 4 of the downtrend cycle at max. My target will be between $110 to 126$. Then we will start a corrective wave structure ABC until wave 4 at about $90.