Joseph_King

Joseph_King

Update to this analysis > Looks like it could be 2.618 extension of wave 4 to $6420.

Joseph_King

Little update to previous idea. Looks like we're in wave C of an ABC thats part of D of the ABCDE triangle. May hit 583X today which is 1.618 of B wave and the top of the triangle. Then possibly E to .236 of wave 3 (4910-5903) to 566X. I'm thinking that the triangle will break out to the upside to 60+, 1.618 of wave 4

Joseph_King

Possibly in wave 4 (ABCDE triangle) that may end at .236 of wave 3 at 5667 and meet the major trendline before breakout for wave 5 to 1.618 or 2.618 of wave 4

Joseph_King

Possibly in corrective wave (wave 2), wave 3 up to $350+

Joseph_King

Expected .5 or .618 retrace for wave 2 in this idea > However, looks like just .382 was enough for some traders. Possibly in wave 3 now within a channel after exiting inverse head and shoulder neckline. Potential to reach 5940-6020 overall if this is 5 waves up. Currently holding longs from 5705.

Joseph_King

Previously theorised an ABC to low 55's but the correction could be over. Looks like on a smaller timeframe that crude is in wave B (ABCDE triangle) before heading down for wave C for 1 0.5 or 0.618 correction overall...possible a wave 3 starts after that heading towards 59 area.

Joseph_King

BTC now in wave 2 correction? 35-40k next year?

Joseph_King

In ABC now it appears toward 55

Joseph_King

Looking at smaller timeframe.

Joseph_King

An update to this idea > Possibly complete wave 5 of 5 of 3 around 5960 before .382 correction to 5565 before up to 62.

Joseph_King

Possibly already completed wave 1 from yesterdays bottom and now in the correction of that wave 1. Could be in wave 4 of C now to .382 of wave 3 of C to 5773, before wave 5 of C to 1.618 of wave 4 of C to 5754. Wave 3 up next (not plotted those waves yet). Long at 5745 and 5788.

Joseph_King

May have completed wave 4, possibly wave 5 next to 5995. Looks bearish but the 4H candle has served bulls well recently. Long from 5773, 5798 and 5830.

Joseph_King

Just an idea, some similarities in the patterns and the fib levels seem to work. Wave 5 of C back to $26 before new cycle starts.

Joseph_King

Another alternative count and I prefer this one as if you zoom out on the chart the fibs point to the same level as 1.618 of the larger wave 4. I believe that around 5980 could be a great shorting opportunity for around 400 pips.

Joseph_King

Some minor changes to this theory >

Joseph_King

We've now reached the top of the channel. The larger wave 3 breached the channel so this wave 5 should stay within it. Expecting a retrace from here to .236 (5790) or .382 (5750) before a final push to 59+.

Joseph_King

An alternative to wave 4 correction. Some waves plotted to 5892. I guess if yesterdays high is broken then this is possible.

Joseph_King

Possible wave correction to .382 of wave 3 at 5714