Wanted to point structural similarities between these two. I held MATIC and sold just before the giga moon and I won't be making the same mistake again. I remember vividly how it wasn't moving back then and I lost patience. Same with VRA. Sold everything and regretted it big time. Currently ROUTE is battling with MA30, like MATIC was. Reclaiming it would be very...
Was looking for an exact pullback to the 1W resistance that held us down until this recent breakout. Watch for reactions here. Hoping we don't close 1W below $1,368. So far so good and we should be off to another impulse to the upside in the weeks to come. To add: Adam and Eve bottom and currently retesting a breakout.
Looks good to me. Great risk:reward ratio too. I'm adding down here.
THETA is that coin that's respecting EW channeling a lot. It's every macro move is in a channel. We have confluence in the horizontal support are and the falling channel. You have two scenarios: 1. Wait for the drop to the support at $0,7 2. Wait for the breakout of the channel All depends on your risk tactic.
Charts that take long to develop are the ones that run the hardest once they get going. PA might seem boring, unattractive and makes you jump ship. I've made the same mistake with VRA and MATIC just before they went on a face-melting mission and I told myself I'm going to look for a chart that looked like those prior to their pumps. CHZ is another example. All of...
Exactly what I wanted to see here: a finished macro C correction. One last push to form the 5th wave of the last Y. Very optimistic times ahead. Similar structure to Rona crash, except that one was way faster. Also, drawdown on both is almost the same in %.
Current view. Running flats are formed by 3-3-5 waves. Meaning we should not cross $3 price which is below primary wave C. I'm seeing this current drop as finishing wave 2 of our major impulse. This structure, and others' as well, makes me believe that Wednesday's FOMC press will be bullish.
Quick writeup We can clearly see how THETA respects channels it's in. Last 5th wave still awaits. Is this the start? Unclear. If you want confirmation, wait for the price to break the upper border of the channel. EW basics on chart: - 5 waves - alternation law: one correction is flat, the other is zigzag - zigzag is a deeper one
So I've been casually browsing the book "Elliott wave principle" by A.J. Frost (a must have, btw) and came across this sample. Remarkable how similar these two charts are (hope you see it the pic due to me being on a laptop). It's quite striking that the 5th wave isn't done yet. So if this is to be true, profit-taking target, according to the book, is at 1.618...
As far as I'm concerned NEAR's correction is done. A typical zigzag 5-3-5, last C wave is drawn. Will be loading up once we break through the diagonal resistance
Seeing this chart makes me confident we're seeing Elliott wave alternation rule playing out. If one correction is flat, the other is a zigzag and the other way around. Also impulses after a flat corrections are often (but not a necessity) more agressive. In this case it was. Don't expect a degree of same impulse in the 5th wave. 1. To be noted sideways movements...
All Elliott wave laws, thesis, observations are valid and pretty much textbook. Alternation wave 1 -> usually completely fades wave 2 -> zigzag, deepest correction wave 3 -> most dominant wave 4 -> sideways expanded flat, long but not that sharp and deep wave 5 -> most euphoric and normally retail driven Rising channe Wave equality? Perhaps That would...
Following rules of Elliott wave alternation. We need wave 5 to finish this structure. First a zigzag correction, now a triangle or a flat correction.
Been following these two charts like a predator. Extreme resemblances. Same reactions. ABC seems to be finished and we're hopefully finishing our wave 2 before a massive move up. Looking to hold this current area. Tough days ahead of AMZN , AAPL earnings today and FOMC next week. Looks promising.
This coin is supposedly already done with bottoming. Big volume kicked in already, ABC in a triangle done. This last pullback was needed and it's on it's way to break ATHs this year. Inefficienty on 4H filled. Trying not to be biased, but the setup looks amazing for the upcoming months.
KDA has been respecting diagonals to a T. Breaking out of the upper diagonal, while having support on the lower. Currently facing big 1W resistance at $7. When cleared, we fly.
Looks like we've finished out ABC correction and the first two waves out of the 1-5. This becomes valid when we exceed the B correctional wave. Support was found on the monthly time frame and major resistances are weekly ones.
Next area of interest isaround 20% lower. Quite a lot of coins with a similar % falls to supports. Might coincide with BTC visiting it's support at 39k.