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Elliotwavecount

Break on through, to the other side! Super Breakout!Well that was an awesome breakout of that resistance zone at 7800-7900! It held us down for all the previous 24 hours at least, and without even much of a retrace, bulls took hold and rammed it through. I've adjusted my waves slightly since I was originally expecting a retrace back to the 6900-7000 resistance zone. (I left my original wave lines on the chart for now.) But that retrace didn't happen, so I accelerated the timeline of wave 3 and wave 4 and have currently assumed wave 5 was completed with this last bull run. My original wave 5 target is still shown in the Orange ellipse for my own benefit. But what's even more awesome is the breakthrough of the purple down trend line that connected the last 2 highs from March 5 and May 5. There have been a couple retests of that trend line already in the last couple hours. At some point there needs to be a retrace, which I have attempted to forecast as one option with the ABC correction waves. This will bring us back under the purple trend line, at which point the bears will wake up and say "SEE! SEE! WE ARE STILL IN THE DOWN TREND!" And I will continue to laugh at them. But with that said, this is obviously an opportunity to examine the potential for a short as we enter this retrace correction wave. Be careful with that and put in some tight STOPS. I'm staying long with my current positions, and may strengthen that position if we see a healthy retrace back to the 7000 range. I'll wait and see for that one. Have a Great Day!
BITFINEX:BTCUSDLong
by bluemt95
1
Copper- 5 wave impulse in correctionCopper counts and measures out to have done a textbook Elliot 5 wave impulse and is now in correction. Therefore, I would expect at least a 50-60% retrace. The 200MA on weekly and 800MA on daily appear to be fairly close to lining up with each other around the 50% retrace. Possibly a spot to get a buy setup for at least a small pullback. I think we should get another wave in order to turn this impulse wave into a 3 wave structure by the time it is finished. If we were to get a zig zag correction down to the 78% fib, then the 2.20 level should be of importance. I showed you equal length taking you back up to the .618 level. It came off the 1.618 extension of a small 3 move correction. Not necessarily a trade setup right this moment, just thought I would share the info.
OANDA:XCUUSD
by thillygoosth
IWM is looking good From the completion of the late January to mid-March A-B-C correction until present IWM seems to be in a classic impulsive 5 wave bullish formation with the fifth and final wave already in progress. If we operate on the standard premise that the fifth wave will most likely be equal to length to the first (displayed by two vertical rectangular shaded boxes) then that would imply a target for completion of the fifth wave of roughly 173. Probability wise a Wave 5 is 70% likely to extend to the 61.8 - 100% of the trend based Fibonacci extension on the chart- this implies a value of 173.65 - 180. One way or the another IWM seems like a great play over the next two months, just watch closely once we pass the 170 mark. Good luck.
AMEX:IWMLong
by TNasr
BTC - Dead cat bounce now ! BTC just completeed wkycoff accumulation on the 4hr chart. This current dip was the spring in wykcoff schematic, where the retail traders long positions stops are hunted and bear trap for the shorts. I expect BTC bounce from here, this would be the wave B of the zig zag of the Y wave in this whole corrective structure from 20k While everyone was bullish on the bounce from 7k, I was very skeptical and expected us to hit sub 7k regions around 6600 in previous idea. That was on point. Hoping for bounce here to 0,5 fib level. Indicators are oversold and RSI hit some pretty extreme values in this dump.
BITFINEX:BTCUSDLong
by cryptnomic
5
WPR idea if 1st EW Motive Wave is confirmed. Prepare for bullsWPR is becoming more and more publicly acknowledged. I think it might be ready to show us what its got. But first... It might correct a bit more. Purple count might also be viable, but I believe it to be a bit unlikely. If PURPLEcount is proven correct, then the bull run is ready to start. If YELLOW line is proven right, then the 3rd motive way is delayed a bit. Of course, we might also have sideways movement for a while longer before it's ready to jump. See WHITE drawing. We are still getting data on WPR, so there is little to work on. Watch those fib levels in case of a breakout. There we will hit resistance if we go up.
WLong
by reynar
2
EOS April 17, 2018 Daily - 2018 - Big Winner Again In 2018 EOS just completed Minuette Wave (i), the second 5 full wave count it has completed in a short few months, during a bear Crypto market. EOS is one of perhaps 5 coins I have seen over the past few months consistently increasing in value. It has shown phenomenal strength against a super negative market pushing higher all along. Currently, it is correcting after completing (i) after which I expect it to commence forming its Minute wave (ii) where it will set several new highs beginning soon and into summer. It will likely prove along with EOS to be one of 2018 best performing crypto in my opinion and per Elliott. It is on a definite track at this point to continue into the Minute wave completing it within the next 3-4 months if historical patterns hold for this one.
by bshgeo
EUR/CADMultiple cad pairs coming off fib retrace and fib extension measurements that are confluent to their wave patterns. If you watched my Ecad video on my channel, I mapped out a long-term W-X-Y scenario on the larger scale. I suggest you check it out. Right now Ecad is coming off the 1.618 fib extension for a possible wave 4 retrace, which 38% would line up with wave 5 being exactly equal length to the next major support level. It is also possible for this to be a "C" wave, propelling Ecad into a larger corrective structure, but considering everything, I think we get continuation for another wave down. So my bias will be to look for buy setups up to the 38% level and will assess the price action and wave pattern at that point until something changes. The TDI is turned up on 4 hr, bottomed out on daily and showing downside on weekly, which also seems to jive with this scenario...
Long
by thillygoosth
NEOBTC: beginning of the fifth waveThe price of NEOBTC has reached the 65.8% Fibo level of previous third wave, wich can indicate the end of the 4th wave. Taking this into account, we can expect the 5th wave to start. The price close above EMA100 and psycological level of 0.010000 can trigger a bullish impulse. This movement can be described as a sub wave of the global 5th wave, the target for which will be the level of 0.018844 - 0.020970. An optimal level to open long position is an end of 2d sub wave, which should reach 61.8% of the 1st wave. Waiting for the 1st wave to end.
Long
by TSI_Analytics
DJX DowJones Potential Correction on The HorizonI was really curious how DJX might look like this days. So I made this. I hope I'm wrong - so take it with a grain of salt... DJX seems to have completed a Major Elliot Wave Pattern, starting from the 2008 Crisis. It's starting to show signs of a correction. I've put together 3 major scenarios: Starting from best-case scenario to worst-case scenario S1) GREEN ABCDE correction It hold support at ~235 (S3.0) It will form a descending triangle (from which it could hopefully break out). Descending triangle forming between S3.0 - S3.1 - S3.2 This is based on "Fib1" retracement. S2) RED ABC correction - based on Fib1 and MajorFib ( that started in 2008) Break supports at S2.2 ~235 Meets CA1 - Critical Area 1 Bounceback from S2.1 to previous S2.2 Completes cycle at the end of Fib1, and Major Support S2.0 S3) ORANGE WAVE - based on Fib2 and MajorFib (from 2008) Break Support at S3.3 Finds Resistance at S3.4 Goes down to S3.2 /or/ S3.1 - S3.1 More likely to fit ElliotWave rules Find Support at S3.1 Resistance at S3.2 Completes cycle at S3.0 Which is a major Support (it is the end of EW3). That kind of concludes it for me. What do you think? I've started making charts only very recently and I really like it. Feedback is always appreaciated. See related ideas for a "zoomed out" view of this. Also, what do you think this might mean for the global financial market?
DShort
by reynar
Price target predictions using Fib Retracement and Fib extensionABC correction seems to have finished and first impulse wave has now been completed. Based on first impulse wave we can now get some targets going for waves 2/3. Based on these targets waves 4/5 can be roughly estimated also. To get Resistance support levels (purple lines) : Used Fib retracement from previous rally up to ATH To get Elliot wave wave targets: Used Fib retracement on first completed wave to get predicted target. Then using predicted targets to further use Fib extension/retracement to Predict a full 5 wave analysis. Using resistance/support levels to reinforce price action. Have only used Fib extensions/retracements to predict these targets. Have analysed the previous years rally/crash and same Fib levels have been hit consistently. This is supportive that these target levels will be reached. Have primarily focused on Wave 3 targets because waves 4-5 are harder to predict until wave 3 has been completed. Still waiting for wave 2 to complete - have used fib levels to predict wave 2 targets (Orange/Red lines). based on wave 2 targets I have been able to get a rough estimate on wave 3 targets - Green/yellow lines. Timeline is very sketchy, have based a rough timeline based on another graph, showing We should hit $1 by June/July. Any opinions appreciated.
by HODLord
1