Hour View Elliot Impulse Wave w/ 30 minute subwaves

20 בדצמ׳ 2018

Apparent Elliot Wave formation. If wave's 2 and 4 actually tested the Fib retrace zones, price target will be above 4k. Also including a chart of the subwaves on 30 minute view which all appear to be valid Elliot waves which leads me to believe that this is a proper wave formation.



EDIT: I mispoke in my comment...wait for wave 3 and 4 on the 30m chart to test the fib zones before going long and determining an actual price point.

20 בדצמ׳ 2018

הערה

Make sure to set a take profits order just under 4292, and wait to go back into a long position until wave C in the following ABC corrective wave is either confirmed to end or approaches Wave 4.

20 בדצמ׳ 2018

הערה

Ignore the previous comment...look at the 30m chart and wait for wave 3 to confirm that it is longer than wave 1, then ensure wave 4 tests the fibonacci retracement before setting the take profits order.

20 בדצמ׳ 2018

הערה

Based on the below trendline and how nicely it is holding as a support thus far, along with how the 1,3, and 5 waves on the 30m chart all have a similar slope, I am very confident that we will see 4.2k before seeing the ABC wave and think it could even happen sooner than the first chart implied.

20 בדצמ׳ 2018

הערה

Looks like wave 3 on the 30 minute view already hit the retracement line and is starting to decline. Unless wave 5 ends up being a truncated wave we are looking good for our wave 5 price target.

20 בדצמ׳ 2018

הערה

It's starting to look like wave 4 could be a lot sharper and shorter than projected, as the subwaves for the 30m waves I posted for wave 4 is appearing as if it formed waves A and B



It is looking a lot like it may not test the Fib retracement zone, so be on the lookout for wave of the 30m chart to begin.

20 בדצמ׳ 2018

הערה

Wave 5 to begin and subwave C to end.

20 בדצמ׳ 2018

הערה

In looking at the short term, I believe I may have miscalculated the end of wave 3 by naively thinking that the ABC wave would form so quickly; Don't let the hope of making a quicker dollar cloud your judgement. Possible that the wave count is off which would invalidate this strategy...going to dig deeper.

20 בדצמ׳ 2018

הערה

Bart formation definitely throwing off the count, making it hard to tell whether we had an extended wave or not. Regardless looking like wave 5 didn't hit the take profits target and have a good chance of seeing an extended A wave, and a possible extended B and C wave as well.

This is what I believe the count currrently is, but due to the bart formation being confirmed this would increase the risk of entering into a position now as it is likely that these ABC subwaves are part of a greater A wave which would be bad to use as an entry point for a multi-day long position. If using it as a shorter term position it may be a good entry albeit a risky one that hopes that the 12345 wave that is part of the assumed corrective B wave creates enough retracement. At most it may retrace to the .382 line but more realistically will only retrace to .5

20 בדצמ׳ 2018

הערה

fixed the fib retrace zone considering the top of wave 5