WicktatorFX

WicktatorFX

What is Divergence? Divergence indicates to us that a trend is losing momentum and could be ready for a reversal or a deeper correction soon. When we see divergence, we should stop trading in the direction of the trend and look for the trend to reverse. How to identify Divergence? When price is making higher highs, MACD (or RSI ) will show lower highs =...

WicktatorFX

In our last Cardano analysis, we identified that we were in the 5th wave and we were anticipating a breakout. Wave E of the descending correction fell short (as it does sometimes) and we had a nice breakout. The plan of action is as follows: - Watch for the retracement - Draw a trendline on the retracement (corrective price action) - Enter on breakout of...

WicktatorFX

We've been looking at Ethereum for a couple of weeks and waiting for confirmations for shorts. In our last post we were looking for a compact pennant formation but it appears it could be a expanding flat ABC pattern. On lower timeframe we have a nice trendline we can monitor for a break. 8H timeframe Trade Idea: - Watch for the trendline to break - Enter...

WicktatorFX

Polkadot is very close to our buy zone but we're waiting for price to make one more move down to complete the expanding flat formation, which is a very common bullish continuation pattern. Whilst waiting for our long term buys, we can look to sell DOT once more. Trade Idea: - Watch for lower timeframe bearish price action at our sell zone - Enter with stops...

WicktatorFX

We've been in a bear market for almost a year now and looks like that will soon change... We are approaching a buy zone where we have: - 78.6 fibonacci - Descending wedge support (completion of e wave) If we get a nice bounce off here, we could be moving back up to all time highs. Trade Idea: - Keep an eye on the buy zone and watch for bullish price action -...

WicktatorFX

Dogecoin has been in a 3 wave correction after the major impulse we saw in 2021. We are now approaching a buy zone with multiple confluences for buys. We have: - 88 fib - Structure - descending correction support (completion of e wave) Trade Idea: - Watch for a strong bullish reaction at the buy zone - once bullish price action appears, enter with stops below...

WicktatorFX

Vechain is in a massive correction that has erased almost all of its gains during the bullrun. The lower it goes, the better it is for us to get in. Great coin to buy and hold for 2022! We're anticipating the ABC correction to finish at the 0.88 fib and then start the next bullish wave. Trade Idea: - Watch for bullish price action at the 0.88 fibonacci - Once...

WicktatorFX Updated 

Following on from our last post, we are seeing the wave B decline and almost at completion. We are anticipating the next wave C during the FED rate decision on March 16th. Depending on what they decide on how to deal with the balance sheet, we may see a nice relief rally. The area to look for a bounce is the recent structure level at 13,000. If we move below that...

WicktatorFX

1inch is almost at the bottom and is currently dirt cheap. From a technical standpoint, we are finishing the ABC correction and about to start the next impulse. It is important that we wait for the bullish price action first before jumping. There is a chance 1inch can move lower and bottom out to near enough 0 - which would give us another chance to get in at the...

WicktatorFX

Polkadot is exhibiting clear wave formations which fall in line with the Elliot Wave schematic. We have the 5 wave impulse which started late 2020 followed by an ABC correction, which we are currently in. We are currently in the C wave which has 5 subwaves and we're currently on the 5th and last subwave heading towards the completion of the ABC correction,...

WicktatorFX

NZDCHF is currently making its way to the 618 fib where we are looking for a retracement back down to atleast the first structure level at 0.626. Watching closely for rejection of our sell zone and lower timeframe bearish price action to indicate that the reversal is on the way. Trade Idea: - Watch for rejection of 61.8 - On lower timeframe watch for your...

WicktatorFX

There are a few levels we're watching for XRP. If we continue to push up from here, we'll be looking to sell once more back to the buy zone. If we drop from here, we'll be looking to buy XRP for the long term from our buy zone. It's still unclear which way it will go so its a good idea to have these levels marked out and play what we see based on price action...

WicktatorFX Updated 

Bitcoin is currently approaching a very important level where we can either have confirmation of bulls or a rejection to complete the expanded ABC flat correction. On the higher timeframe we still appear to be in wave 4 now, which is an ABC correction. See below: Only question is whether we already completed the ABC correction or we are still yet to complete...

WicktatorFX Updated 

Ethereum on a higher timeframe is currently in the 4th wave and we're seeing an expanded ABC correction. We are currently on the final legs of the C wave. It looks like we're finishing the 4th wave of wave C and anticipating one more drop back down to the 1700 level where we have multiple confluences to BUY Ethereum for the 5th and final wave. SHORT Trade...

WicktatorFX Updated 

NZDCAD is currently in a descending wedge and approaching one of the limits of the wedge, where we also have the 61.8 fibonacci, Keep an eye out for rejection and lower timeframe trendline break for confirmation. Targets would be the recent bottom (440pips). Goodluck and as always, trade safe!

WicktatorFX Updated 

AUDCHF is currently at a really good place to look for shorts. It is likely that we are currently in a higher timeframe ABC correction and we're seeing the completion of Wave A and anticipating wave B. On lower timeframe. we're watching for rejection of the channel resistance and a trendline break to confirm shorts. 4H Taking TP at around 0.65...

WicktatorFX Updated 

EURAUD is approaching a really clean structure level where we'll have the completion of the ABC correction. Looking for a bounce and a trendline break for confirmation. Looking to take profits off gradually as we move up. Goodluck and as always, trade safe!

WicktatorFX Updated 

CADJPY has almost completed the sub C wave and we're looking for it to drop to complete the bigger C wave. Trade Idea: - Could drop any moment so go on to lower timeframe and find entry reasons for SHORTS - setup invalidated if we break above our sell zone - Target the major ascending trendline (250pips) Goodluck and as always, trade safe!