Possiblity here that wave 2 hasn't finished and that we're more likely to come down to test the 0.97 region (steel support) to complete the "x" wave. A bounce should be expected in this region, taking us to the highs of 1.1$ once again. This also gives us an alternation between "W" & "Y", which they'll both be equal in size. Invalidation here would be a pop above...
As soon as support breaks, the real bear party will begin
As volume starts to drop, i'm inclined in believing that we're finally making our move down to place that 5th wave. Been watching this pair for a while and i'm finally short once again, ever since it broke 1.06$
Will be closing my shorts at support and will be buying big.
As we can see, this pair, along with many emergent pairs, are looking extremely corrective. This pair, in specific, has lost both 50/100/200 emas, leading me also to believe a big correction is coming for most pairs as well! A little secret that i'd like to share with you all, is that i have been using specifically emerging markets as a source to track the dollar...
This whole rally has been going with declining volume . As wave 5 was coming to an end, we saw a volume spike, which is typical for a wave 5. Also, we have crossed bearish on the MACD as well! Sooner or later, this drop will most likely come!
Another update on bitcoin! Sharing my view (which by the looks of it, looks undeniably bullish for the short term) and where i'll be opening big shorts (0.382 fib). I have seen many people saying that bitcoin has bottomed, but the truth is, volume doesn't proceed that. We're still in declining volume and we're yet to see a change in that. Bitcoin still looks like...
Seems to be in an ABC. Looking to ride this third wave, as it provides excellent R/R! From an indicator, we are above both 50/100 ema, which will most likely act as support. MACD: signaling bearish continuation! Also good to note that volume has been dropping at an increasing rate!
Looks like a truncated 5th subwave, ending a and now going for b! Also from an indicator point: macd is signaling that this uptrend isn't over. Above both EMAS: 50/100! Will have to reconsider count if we break above start of wave 1. I do not intend in shorting gold even if my target hits.
A quick update where i share my entry. I still believe we're in a bullish pattern (cup & handle), where wave 3 could possibily be starting soon as well. Very nice risk reward!
The time is ticking for oil, as it seems that a new impulse down should be heading soon. The question is just 'when'? Trade the trend!
This is an update from my count! As it hasn't made a new high (break above 0.5 fib), i still strongly believe in this count (which also hasn't broken any of Elliott's rules yet!). From an indicator point as well, we can also see that the MACD has crossed bearish! Historically at high levels like these on the MACD, this is very bad for snapchat. Very good...
Seems to be in a WXY correction! Very low risk trade. Tp a little above 1.618 fib
Just an update from previous post! The reaction that we're getting makes me believe this uptrend movement isn't done. I'm going to focus on shorting higher and only interested in longs for now!
Puting stops at 1.1385. Have been observing the Euro for weeks and believe this is the most likely scenario after it got rejected at 1.14 again. Very low risk trade!
Extended "C" seems complete! Downtrend should resume. From an indicator point as well, we notice that the macd is in a very bearish territory.
An updated count from previous post! Observation: since wave 2 had sideways movement, wave 4 was supposed to be sharp. Which in this case, it was. Wave 5 is coming!