ABC
USDOLLAR - Midterm buy...Technically USDOLLAR should finish ABC corrective structure anytime now (this week)...
Technically:
- ABC correction
- Major SR zone
- Long term trendline (6 years)
- Bullish divergence ongoing (Switch to Weekly chart-divergence on weekly/monthly chart )
Target profits on chart.
Entry: 11660-11730
Trade responsibly.
NEBL Wave 4 Correction CompleteBy counting the subwaves, we see that NEBL has not completed the 5 intermediate waves (blue) within primary wave 3 (pink). Also, NEBL just completed an ABC correction that took the shape of a descending triangle. NEBL is ready to break out. In the case that the breakout fails and forms a WXY correction, we set a conservative and aggressive target.
Such Currency, Plz pump; Dogecoin consolidation over?Dogecoin appears to be currently on intermediate wave 4 (blue) and is about to start wave 5. Wave 4 is a flat correction, which is a 3-3-5 ABC correction. Soon, Doge should start pumping again and hit the short-term target of 11k.
Doge could hit as high as 1750 in the long term. Since cycle wave 1 (pink) and wave 3 are about the same length, wave 5 should extend. Then assuming a 0.618 retracement of wave 3 and a 1.618 Extension, we get a target around 1750k.
Zcash Long to $900+I've counted the Elliott waves, and I have only spotted 3 completed waves so far. That means that ZEC should experience some more correction in wave 4 before exploding up again. ZEC already completed subwaves A (12345 impulse) and B (abcde rising wedge). Wave C should start soon, and should be a downwards 12345 impulse. Of course, there is a possibility of further corrections in the form of WXY, but in that case, the corrections would be small and contained.
My conservative target is $820, a 1 to 1 Extension of wave 1, and my aggressive target is $905, a 1.618 Fibonacci Extension of wave 1. I believe that ZEC will likely hit the 1.618 Fib Extension, because waves 1 and 3 were about the same length. According to Elliott Wave guidelines (not rules), wave 5 will often be extended.
WES. Breakout. Target 67.44-79.81Western Gas Partners (WES) broke out of the small downtrend (yellow).
It means that wave B is over and the wave C up has started.
Price could reach either the previous top tagged by wave A at 67.44
or hit further up to touch previous major top at 79.81 as highlighted with orange rectangle.
BTC Elliot Impulse wave completion and ABC correctionShort term top has clearly presented itself. Check out previous idea. Was correct in my assumption that we were in wave 3. Wave 4 turned around at .236. Wave 5 was slightly longer than wave 1 x 1.618
Caution is advise for opening new longs. As a note i do not short.
LTC BREAKOUT/PRICE PREDICTIONAfter what looked like a proper abc correction over the last week or so, ltc has just broken out of its downward trendline and looks fully charged to make a big move up. The deciding factor here will be if ltc continures to pass $300/0.618 fib line. If it doesnt, we will continue to trace further; if it does, we aim to make new highs. Keep in mind the red ichi moku cloud ahead of the current price point can be sometimes predictitive of a down trend, thus why I think another downtrend might be in ltcs near future after hitting 300.
BTC to make another Bear run down to ~$4000I see the possibility for a Bearish ABC Zig Zag pattern to the downside.
Bitcoin. Possible map for current correction.It looks like Bitcoin has entered the large consolidation period. It could take some time to evolve.
Wave A down was quick and strong and it could be over.
Now there should be the wave B correction of wave A and I highlighted the potential area of retracement with blue rectangle.
After it finishes we can see another dip in the wave C at least to the low of the wave A at 11160 level.
The projection for wave C should be recalculated once the wave B is done. Meanwhile it is highlighted with the red rectangle.
BTCUSD ABC CorrectionThis is my opinion on BTC correction.
2 support levels for ABC correction:
- 10400 - I believe (and hope) in this one
- 8000 - I don't like this one but it is possible
Stoch RSI shows downtrend
It is not a good time to buy. Need some good signals for bullish trend.
I also don't like to short BTC. If you want to short use Stop-loss.
Is Bitcoin ABC correction at an end?Bitcoin ABC correction could be at an end. Looking for it to bounce off and hold above the red 200 MA level and green uptrend line. However, it is the holidays. I expect it to consolidate for a while, and maybe even head back to it's 11,000 short term.
Practical Exercise - The ABC PatternThe ABC Pattern is derived from the ZigZag concept from Elliott Wave, and the 1-1 concept from Harmonic Patterns.
Practical Exercise
1) Identify a corrective move that look like a ABC Pattern, it can be any currency pair, any timeframe.
2) Using Fib expansion, measure the ABC Pattern.
3) Record down where does this ABC Pattern completes.
4) Also, record down where does price move after the completion of the ABC Pattern, and how far it travelled.
5) Post your exercise on the comment section in this thread.
6) Repeat this practice to gather a total of 10 examples.
IOTA. Correction could be over. Target 5.8-6.5IOTA got hit with a deep correction below 78.6% Fibonacci retracement area.
The previous top and trend channel upside could be the minimum target area (orange ellipse) between 5.8 and 6.5.
LTC perfect Elliot wave now in ABC correctionAs a note, i do not short. Previous Long on LTC was successful and ended up getting stopped out at 342. LTC performed a perfect Elliot Wave. Now in ABC correction Phase. Caution is advised, and very wary of opening longs.
wave 2 = .5 of wave 1
Wave 3 = 3.618 of wave 1
Wave 4 = .5 of wave 3
wave 5 = 1.618 of wave 1
Prepare for leg "B"(rosef)Epic run bro's... Epic run. We're not done yet and what better way to stick it to wall street than by letting them get rekt on longs. Meantime, altcoin super-moon.
