nelsyboy

nelsyboy

Looking for a break of the trend line (Wave A) and then a move up to test the trend line (Wave B) and then a downward movement for wave C. Watching closely to see if I can get in at the top of Wave B (SELL). Already divergence on the momentum indicator and MACD lines are close. The 15SMA and 5EMA could be a bit closer together/crossing at the top of wave B to...

nelsyboy

With the momentum indicator slowing but still positive and a large gap between the 15 SMA and 5 EMA lines as well as the MACD lines, there is still bullishness in this pair. That's why I think this mini Elliott Wave pattern might come true. If all comes to fruition, a BUY at the end of wave 4 would be the trade to look for.

nelsyboy

It appears a re-trace is underway and hopefully the Elliott Wave mini pattern will work out to be correct. Momentum indicator already shows to be the right side of the MA line. MACD not quite crossed. I would like to see price fall back as part of wave B. Momentum to stay positive and the MACD to have not only crossed but to have also reached the line I have drawn...

nelsyboy

Momentum slowing and candles also showing signs of hesitancy. This could be the end of the move up. Will be watching to see how this one shapes up.

nelsyboy Updated 

The 14SMA and 5EMA have crossed and todays candle is the pullback. There is a decent trendline and the momentum indicator and macd are all in the correct place. I will wait for the close tonight but believe this to be a possible SELL trade.

nelsyboy Updated 

Momentum is still positive and above the 14day average. As such, I think there may be a move higher to complete a min-elliott wave ABC and thus complete the longer term wave B. Then a longer term wave C down possibly in mini 5 stages. If this does play out, I will also hope to see continuing divergence on the momentum indicator and be ready to SELL as per the idea.

nelsyboy Updated 

On 28th March my idea suggested a possible path down to finish Wave 5. This move could be followed by a ABC correction wave and I believe that the B wave is over. With divergence on the momentum indicator and with the momentum above 14SMA, this is also increases the chances of this possible BUY trade holding true.

nelsyboy

A meaningful trend line in place with divergence showing in both the momentum indicator and stochastic, it looks possible that the upward momentum is slowing. It will be interesting to see what happens if the price does indeed reach the trend line.

nelsyboy

There is already a cross of the 14SMA and 5EMA and signs of a retrace. The trend line and supply zone seem to meet at a price where I hope to take a SELL trade at a better price. I will be watching to see what happens in the days ahead.

nelsyboy Updated 

A high level of momentum for the move up today could mean the continued move up to the recent extreme supply zone in what appears to be a mini 5 elliott wave. I will not be trading this one as I had already traded a BUY earlier on in the move up and got stopped out for profit on a retrace. Jumping back in does not fit my strategy.

nelsyboy

With momentum already negative and a cross on the 14SMA and 5EMA lines, I will be watching to see if there is a pullback to the trend line or at least to a better price on which to action a SELL trade.

nelsyboy Updated 

There have been a number of ABC selling patterns so I was thinking that perhaps an Elliott Wave Pattern 12345 is now on the cards. The momentum indicator is positive and showing good strength against the previous spike up. The 14SMA and 5EMA are relatively close together but have not crossed positively yet. A BUY trade is on the cards at an average price but I...

nelsyboy

The momentum indicator has hardly dropped down despite 3days of selling. The Stochastic Momentum Index/Money Flow Index is positive. Price is currently held on the 14SMA which appears to be a holding SMA historically. The 200EMA could be in the way of BUYING but I will be watching the close tonight to see if the possible path looks like a possible trade.

nelsyboy Updated 

Looks likely to be in ABC Elliott Wave Correction Phase. Momentum is still negative despite being above the 14MA. Volatility slowing which shows a lack of buying interest. I will be looking to BUY if price follows the predicted path and drops back down to supply zone. At the same time, I would like to see some clear divergence on the momentum or for the momentum...

nelsyboy Updated 

The momentum indicator has now gone positive and has been above the 14day average for a little while despite the moves down. Wave B looks to be either ending or has ended. It may drop a little bit further, especially as it stands out to be an obvious BUY trade and so stop hunters will more than likely kick in and take the price below the current supply zone.

nelsyboy Updated 

Very small moves on the daily chart but momentum is negative and the most recent move up today has shown divergence. It therefore looks possible that the last supply zone low will be tested (probably tomorrow). My personal strategy is not to enter a trade on the wave 5, but to wait, on this occasion for the long trade C wave or indeed wave 3. If you trade the...

nelsyboy

The momentum indicator is showing major divergence and is well below the 14MA although not quite negative. The trend channels drawn so a small break and a small bounce back up to touch. The next move could well be down. This is an idea using the momentum indicator and 5EMA and 11SMA that I wanted to share. I do not trade BTCUSD.

nelsyboy

I noticed this pattern tracing out and wondered if there would be a mini wave 5. There is now resistance in the form of a trend line and 200EMA. Because the move up has been so fast, the momentum indicator is extremely high and well above the 14MA. Therefore, I do not think there will be any chance that this will fit my trading strategy. However, I liked the idea...