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A-WAVE

Elliott Waves & The New Post Corona Reality.The start of the Covid-19 pandemic kicked of a volatile time in the stock market with a 34% market decline in 24 days. This marked a clear new leg in the market and allowed one to start an Elliott Wave mapping. In this chart, I begin with the classic A-B-C correction wave as the market declines and follow it up with the 1-2-3-4-5 impulse wave of the new Bull market that emerged from the ashes of the crash. The market then experienced another corrective A-B-C wave from September to November 2020. Still, it emerged again with the promise of massive government stimulus into a new 1-2-3-4-5 impulse wave supporting the major Bull market move. In the chart above, you can see that it really helps with plotting Elliott waves to use supporting indicators; I have used Cumulative Money Flow and Relative Strength Index to confirm the moves. In technical analysis, it is always a good practice to use a price-based indicator (RSI) with a price/volume indicator (OBV or CMF) to give you two different perspectives on the same chart. By mapping a 9-day moving average (MA) on the RSI and CMF indicators we can see that when the indicators cross down or up through the MA we have a strong confirmation.  This helps with recognizing a new wave pattern sooner, rather than retrospectively.  What's Next I expect in the next few weeks we will see a corrective wave emerge, which will be signaled by a MA crossover of RSI & CMF. But until stocks have any competition from Bonds/Treasuries, the market will continue to move up. The only caveat is a macroeconomic disaster, for example, the pending crypto market collapses, which will send shock waves through the financial markets, but again, stocks will eventually emerge victoriously.
Editors' picks
SP:SPXLong
by liberatedstocktrader
81
$BTC D-Wave 4h chart$BTC 4h chart has locked in the 5 wave pattern at the making of the C wave lower than A wave. The current C wave close being $44671.58 as in Coinbase data. The C wave down have also made the target (1.618 times the 5A move). I am expecting a new 1-5 wave up pattern from here. That expectation would be crushed if we retrace pass the low of wave 4 at $37300.00. A reasonable retrace target (if we do retrace more) would be the 200 period average on the 4 hour. This recent move down is partly due to $ARK reducing exposure to crypto related stock. I am still bullish $BTC from a perspective of swing trading. The analysis is based on TD D-Wave theory by Mr. Tom Demark.
COINBASE:BTCUSDLong
by kidze
Compound next price targetAfter correcting above the trendline 525. Price will first either either correct to 600usd. If this happens several possibilities will unfold. 1st a 3-wave pattern triangle might form to quickly give d market a push above 600, then straight way to next target. 2nd, if by chance it fails due insufficient liquidity, might descend to form an ascending channel of 3-5wave pattern, a rectangle of which a breakout will terminate the pattern to move to target. Lastly price moves so fast to target, it's gonna need a lot of bullish pressure to keep it above target of which if d buy orders keep on limiting will result in a mini crash to complete d correction it suppose to have done at 525. This will bring us to the beginning of a new market pattern of descending triangle between target and breakout of which may be continuous or discontinued by a divergence leading to another Elliot wave case event. In summary, a breakout candle is okay to which a bare correction will be needed to satisfy Elliot wave be heading to target. A slight correction is better which will move price to target and leading higher price target.
Long
by profit_hunter259
WAVES - Don't Miss This 2/3x Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow. WAVES is sitting around a strong demand zone and round number 10.0 so we will be looking for buy setups. on DAILY: WAVES formed a double bottom pattern but it is not ready to go yet. Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? Trigger => Waiting for a momentum candle close above the gray neckline to buy. Meanwhile, until the buy is activated, WAVES would be overall bearish can still trade lower till the 10.0 before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
WLong
by TheSignalyst
26
bearish wolfe wave BTCUSD Bybit I see a bearish wolfe wave at bitcon. The Gundstruktur stands already, we have the High-Low-HH and HL, in the overbought area we were also already and have respected the limit for now. In addition (not to be seen on the chart) we are in a strong resistance zone. For more than 80 days, we are in a range after the big sell off in mid-May. I doubt that we will break out of this without pullback to the top. The target would be matching the middle of the range. Definitely worth a trade.
BYBIT:BTCUSD.PShort
by UnknownUnicorn9344165