We are in wave B of flat if wave B is finished, that means this correction could be
1.Irregular Flat which will provide wave C the power to return to the previous high (1.23503)
3.Double Or Triple combination
Above all cases
1.21650 is the first short target because the next wave should retrace at least 33.3% of the previous wave, in this case,...
In this case previous low we assume that wave 2 of the supercycle is already finished
so we are in wave super 3x or wave c - and this motive wave in the timeframe month
might be a triple combination or triple zigzag.
Because the former wave is elongated zigzag that means wave x must retrace at
At least 61.8% of wave c (847.30)
It can retrace deeper but it...
In timeframe day the rally up of ethereum might be a false motive to lure investor to buy
As you can see in wave (c) of (B) form elongated zigzag which means when the cycle is finish
it has to pull back at least 61.8% of wave (c) (around 547 of half of the current price)
Warning this is just one case of the Elliott wave analysis possibility - Make a research on...
AUDJPY Analyze- 9 PM (TH)- 01/06/2021
We are in the wave of the second set of non-standard small x of wave x3
OR Wave A of x3
Which the price is forming last wave v of wave A
and in a deeper degree, it is wave (iv) of wave v
Where are we?
x3 - A - v - (iv)
Plan to trade for tomorrow
1. Wait for wave iv to retrace at red resistance horizontal line at 38.2% or...
It can be any of these 3 cases
1. Wave x is correcting to make the triple combination - UP
The price must not come down more than 1.21557 OR
2. Wave (a) - (b)- (c) zigzag is just sub-waves of wave a - Down
The price must confirm at least 1.21557 to form wave b at 61.8% Fibonacci OR
3. Wave 5 is finished - UP
They are changing trend the price will...
Where are we?
Bitcoin is the most popular coin at this moment, last time I heard about bitcoin around in Mar the price was around 7000$ but unbelievable 9 months passed, it rallies up to 30000$. This phenomenon indicates that we are in a powerful impulse wave of a supercycle. We can not count wave three as an impulse wave because wave 2 does not comply with the...
Price on Thursday rally up to 1.23082 and follow by the sharp downward move, this one causes me some money but it's fine ahaha, because if the trend really changes there is more room to trade.
From the book called " Mastering Elliott wave by Glenn Neely" - The degree of the next wave must retrace 1/3% Fibonacci of the previous wave which is 1.20726 but normally...
The price has the potential to come down to 1.22808(50%) or lower and then follow by wave bullish candle to form wave an of wave 5.
You can bid at 1.22808 (50%) or 1.22744(61.8%)
Stop-loss a little bit lower
Target at least previous high 1.23092
Risk reward estimated a little bit more than 3:1
It seems that wave 3x has not yet finished, the apex price is now a wave 5 of wave x3. The next target is wave 4 corrective in the blue resistance zone 38.2%/50% Fibonacci, it can be sharp and take a shorter time than wave 2 combination. Then it can rally to end wave 5 of the big cycle wave A in a 1h time frame.
Wave (b) of B disclosed that it's not yet finished. Wave 5 is moving up bring the price to around 1.35744
if the price choose the downward direction, it means that wave 5 is finished but this case is rarely happened referring to
degree of time.
For the market to choose a direction. The upside is small. Don't rush!
"Money is made by sitting, not trading."
In cycle, A upward wave (5) ends with a terminal impulse of 1.36194. Hope thrust reveres back to at least
1.34687 to 1.34295/1.34033 and completely retracement at 1.31839 referring to terminal Impulse effect
or around 38.2% to 50% of the former big cycle in 4h time frame chart.
1h time frame wave (a) assumes finished, wave (b) is unconfirmed but the price...