iSummer

iSummer

After tonights violent drop I've shorted BTC on the 15 min timeframe with a potential target of D

iSummer

After an over extension and more than 3 legs up, BTC finds itself very far apart from its main average on the daily, the 20 MA.

iSummer

Reason for entry: Red Bar Ignored (Narrow Range Bar) above the 50% of an Elephant Bar (Wide Range Bar) First Target: Previous Pivot with at least 1:1 Upon Reaching First Target, Adjust to Break Even, Take Half Off Second Target: Previous Pivot High for 2:2 Upon Reaching Second Target: Take Half off, Leave for market to stop out.

iSummer

Things I like about this set up: Bearish divergence on the MACD. MACD line crossing over the signal line AB=CD at CD =1.68 of AB RSI overbought Targets on the arrows.

iSummer

Wait for it... if USDJPY is actually making a flag, then the biggest trade seems to be a nice long. short maybe but very short term. Levels on the chart. Targets on the arrows. Wait for it to be more oversold.

iSummer Updated 

almost perfect proportions for a double top, 1:1. First target 113.70 but might go lower.

iSummer Updated 

check out the levels on this babe

iSummer

long for now

iSummer

First target 1271

iSummer

gu short uj long

iSummer

ABCD

iSummer

Impulse wave #1?

iSummer

just cuz

iSummer Updated 

Charts pretty clear

iSummer Updated 

Seems XAUUSD reached the 0.618 retracement of the previous wave down on the daily. Possible corrective structure forming therefore we should be up to a short. Possible target 1205.

iSummer

After that nice impulse wave down, we should see a correction. By Elliott's guidelines, correction could extend to the 4th wave give a possible target of 112.685. Fits nicely with my XAUUSD short idea. It's nice that the target is the confluence of two fibonacci levels.

iSummer

All levels in the chart. Long upon completion of the pattern.

iSummer Updated 

Following Elliott's Principle, the 3rd wave is never the shortest wave in a 5 wave structure, therefore the 5th wave in this structure shouldn't go beyond 113.718. This would give an entry short around 133.718 waiting on price action confirmation. Take profit 1 at the convergence of the 0.786 retracement and the 0.50 @ 112.685 Take profit 2 at the 0.618...