Long

Aktualisiert

BCH-Rock-n-Roll-Wave Analysis-Extending 5th

$BITFINEX:BCHUSD is ready to rock-n-roll.

This is a trade for the extending 5th wave. The main trading method that I apply is Elliot Wave Theory with some indicators for confirmation.

I did extensive analysis in the related idea $BITFINEX:BCHUSD-BREAKOUT-EXTENDING 5TH).

Review:

We have completed Waves 1, 2, 3, and 4 (ending).

Wave 3 Extended over 700% of Wave 1. After Wave 3, a rare expanding diagonal triangle formed which according to Elliot suggest that Wave 5 will extend as well. This could be a rare Wave where there are two extended impulse waves. Don't forget that we already completed higher degree waves 1 & 2 (Cycle Waves). Also, it is impossible to know exactly where the terminal point of a extending wave will end. But, we will try our best to figure that out because there is just as much money to be made in corrections.

Let's review the charts:

We have a Micro-Wave ready to fly...

Key target: 1.618 ($562)

Anticipated Terminal 5th Wave Target: $760-$725

Turn up the music!

Will update.

-AB

Anmerkung

Wow...

Anmerkung

Important to note:

Corrections often alternate

When we get two extensions in a five wave sequence and they are the third and fifth waves respectively, there is an even greater chance for a sharp correction once the extended fifth wave is completed.

Anmerkung

Still looking good...

Anmerkung

ZigZag Correction (Above)

Anmerkung

40,000 FT VIEW

Anmerkung

Spiral Intersections are important and usually note a price-action move.

Anmerkung

Noted STOP.

Anmerkung

Sub-Wave 3=$529

Anmerkung

Bears are putting up a good fight...

Stay the course...

Anmerkung

Bears out of ammo?

Anmerkung

Looks like it...

Anmerkung

Still need to complete the 5 sub-waves...

We are getting closer.

Anmerkung

Hypothetical Price-action...

Anmerkung

3 Min:

Extending S-Wave 3

Anmerkung

Correction(Above): Not Extending S-3.

*Price Action could have possibly extended

Original Analysis was correct.

Shorter the tic length the more challenging it is to count waves.

Anmerkung

Stay the course...

Anmerkung

Looks like a whip...

Anmerkung

5 Sub-Waves

Breakout or Another set of 5-3-5?

Anmerkung

Micro-Wave

Holding the line....

Anmerkung

STOP: RED TRENDLINE

Anmerkung

Reminder: Wave 2 can retrace up to 100% of Wave 1.

Make sure stops are below the beginning of Wave 1.

Anmerkung

Micro-Wave didn’t hold...

Anmerkung

504-505 is Critical

Anmerkung

Stay the Course...

Anmerkung

Looking to test 21 EMA

Anmerkung

It will be back up in no time...

Anmerkung

See you in the AM.

Stay the course...

Anmerkung

Let's see what we got going on this AM.

I think we have a Wave formation here.

Anmerkung

Bottoms Alternate

Anmerkung

Complex, Spike, Complex....

Anmerkung

Stay the course...

Anmerkung

Extending S-3?

Anmerkung

Momentum is building...

Longer time-frame 30-60-90 shows high momentum...

Shorter time-frame 3-6-9 trending higher....

Anmerkung

Bears are folding...

Anmerkung

Breakout imminent...

Anmerkung

Key Target is always the golden ratio...

Anmerkung

I bet a lot of people got washed out last night and are going to be chasing this move...

Anmerkung

Breakout Alert...

Anmerkung

Volume Flow

Anmerkung

imminent...

Anmerkung

ZigZag Correction Ending...

Stay the course...

Anmerkung

Just finished another "ABCDE" Correction...

Anmerkung

Ladies and Gentlemen,

The time has arrived...

Anmerkung

Above: Last 'E' Wave...

Anmerkung

Expect an Extended 5th...

Anmerkung

Buyers are starting to come in...

Anmerkung

Breakout Alert...

Anmerkung

*Correction

Anmerkung

Weis Wave - Increasing Buyers + Decreasing Sellers

TEMA RSI - High Strength

....

Anmerkung

Staying the course...

Anmerkung

Please be the breakout!

Anmerkung

21 EMA is support.

Anmerkung

Slow moving CAT 5 Hurricane.

Anmerkung

Building solid support.

Anmerkung

1HR needs to cross 21 EMA for the breakout.

Anmerkung

9 Correction Waves (Complex)

Anmerkung

Excuse me...

Officially 10 Corrective Waves...

BOO-YAH

Anmerkung

That was exhausting...but worth it.

Anmerkung

Target 1: 550

Target 2: 590

Target 3: 760-730

Anmerkung

Follow the Spirls for Hypothetical Price-action...

Anmerkung

Shorts will be getting alerts and will be scrambling...

Anmerkung

Sub-1 & Sub-2- Fibonacci 1.618 Extension

Price broke strongly above...

Extending 3rd S-3

Anmerkung

Note for Higher degree 3rd waves.

Wave degrees often correlate with each other.

Anmerkung

CAT 5 Hurricane approaching about to make an impact.

Anmerkung

OBV Divergence from price-action

Anmerkung

Keep Calm And Carry On

Anmerkung

Chart will break down if we go below Wave 1 Terminal

Anmerkung

Breakout Alert

Anmerkung

CAT 5 Hurricane is making landfall.

Anmerkung

Bears are drying up...

Anmerkung

Bulls waiting for confirmation...

Who blinks?

Anmerkung

Reflex?

Anmerkung

Last Call...

Anmerkung

In the eye of the CAT 5...

Anmerkung

Straight to $590...

Anmerkung

Extending S-3?

Anmerkung

Higher (Yellow)
Lower (Blue)

Anmerkung

All ABOARD!

Anmerkung

Here we go...

Thread getting long.

Will be updating with new idea shortly.

Anmerkung

The longly anticipated extending 5th Wave!

Anmerkung

Underscore LONGLY.

-AB

FibMarketWatch

Auch bei:

Verbundene Veröffentlichungen

BCH-BREAKOUT-EXTENDING 5TH

von FibMarketWatch

Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.

FibMarketWatch

Auch bei:

Verbundene Veröffentlichungen

BCH-BREAKOUT-EXTENDING 5TH

von FibMarketWatch