gz1968

gz1968

Here is my wave count. Looks standard. Nothing fancy.

gz1968 Updated 

Looks like wave 3 coming soon. I put wave (3) at 1.618 fibonacci for about $4 USD The A wave reached 0.702 fibonacci, so I suspect wave C (end wave 2) will end at 0.786 fibonacci.

gz1968

After studying wave 4, on a daily chart the candles of wave 1 and wave 4 overlap, which violates the Elliot rule. But before giving up on this being wave 4, I did a fractal comparison with 2017. If we are repeating the 2017 fractal, then this should be wave 4. If so, expect wave 5 would end at $2 USD roughly. If this is wave 4, then good news. If this is wave...

gz1968 Updated 

Two issues here: (1) Elliot wave rule: "Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation." Wave 4 candle closed below the highest candle (normally marked wave 1). But, in my chart, I show wave 1 ending as a diagonal triangle. So, I put the 1 at the end of this triangle. The candle (not wick)...

gz1968

DATA is a buy. Retrace reached ABC 0.702. RSI and Stochastic broke trend line. I show wave (3) at 1.68 of wave (1), but it could go much higher.

gz1968 Updated 

I'm an amateur Elliott wave guy. Take it with a grain of salt.

gz1968

I'm an Elliot wave novice. So take this with a grain of salt. My XAGUSD shows we are finishing wave 4. So does this SILV. The buy range reason is obvious. The sell range is based on 0.618 fibonacci of waves 1 and 3 combined.

gz1968

Here is a possible scenario. Will it retrace to 0.702 fibonacci? We'll find it soon.

gz1968 Updated 

We may be in wave 4. I don't show the reason for red and black very clearly. Red = 1-5 small impulse down ending retrace completely in Y (or C if you will) and wave 4. Black = 1-5 to A, then a B and C. And then retrace ends ends Y and wave 4.

gz1968 Updated 

I'm an amateur Elliot wave guy. Examine it yourself.

gz1968

XRP weekly chart. So what's bullish? Reversal diamond Candle closed above 100 week MA. Ascending triangle forming abcde pattern to break through historical 31 cent resistance. Heavy volume below reversal diamond confirms reversal. Not on chart, but busted through 200 day MA About Elliot wave on my chart: In 2017, there is a clear 1-5 pump to wave 1 to this same...

gz1968 Updated 

Possible scenario

gz1968

I'm not sure about my wave count. Any feedback would be welcome.

gz1968

Sweet pattern!

gz1968

Currently we are in wave 2. I show how the 2015-2017 fractal matches to the 2018-2020 XRP graph. Notice that red circles. XRP went above the trend line, then retouched the trend line, then went up to the 200 day MA (bust through) and started wave 1. I placed the red circles to note these instances, but also to show that the current fractal is longer in days. ...

gz1968 Updated 

I overlaid the 2017 fractal with today's fractal. I matched the bottom of wave 2 for both of them, to get the wave 3 level. The chart speaks for itself. Don't take financial advice from this. The possibility to double the XRP bag at Wave 3 and 4 if today's chart will follow the 2017 fractal is evident. Not for the faint of heart.

gz1968

Accumulation/Distribution indicator and Reversal Diamond say bullish. That reversal diamond is still in play.

gz1968 Updated 

I'm new to gold. And an Elliot wave amateur. So take this with a grain of salt. Looks like gold will correct for wave C.