cheesywedges

cheesywedges

Look like we are header for a trendline breakout in a couple of candles

cheesywedges Updated 

On the weekly candle the momentum indicators are showing an upside curve. In the volume scale, it is steadily increasing week by week. Observe this week's volume close and if it continues to climb, it shows a confidence buildup disregarding the coming resistance on the Weekly TF.

cheesywedges

In two weeks we would be break 1.618 fib circle. We should be returning to the upper bb band region. We should revisit ATH in the middle of September.

cheesywedges

Our previous prediction has hit Wave 2 and in progress of an impulsive Wave 3. Otherwise, if we are rebouncing; as what we can observe on the current candle tested 42k and came back up, shows that we are on a Harmonic Butterfly. The parallel channel was formed due to the current candle touching 42k which gives strong indication this could be a rebound to 54k....

cheesywedges Updated 

Finally we are seeing a reversal to bullish with MACD, Stoch and RSI heading upwards, if this candle closes green. However, I am charting a potential bear Elliot Wave with the rules in place. PS: In favor of the stock 2 flow model in the long run, so we could also be seeing a sharp bull to breach $100,000 afterwards All critics welcome.

cheesywedges

Blind prediction based on trendlines and past patterns

cheesywedges Updated 

Putting this up here for idea. Possibility of a bull run to 340

cheesywedges

Look like the take on Elliot Theory has ended it's wave 5 lower than predicted. However, we are still trending along the parallel channel. My take is we are resetting Elliot Theory again. Looking at MACD and Stochastics on Daily TF, they are giving very bullish indicators. 60k is coming in couple of days time.

cheesywedges Updated 

I commented previously we are in the Wave 5 of an Elliot Wave. Currently, we are seeing a micro Wave and we are at Wave 3. We will be heading towards 58k in a weeks time and retrace to 54k before hitting 64k. As you can see, the micro Wave 5 (blue bubble) and the bigger Wave 5 (green bubble) are very close

cheesywedges Updated 

The fundamentals of an Elliot Wave are respected, therefore if we are past the Wave 4 and moving into Wave 5 we could (i) hit wave A in 1.618 fib level at 56k and drop or (ii) the many predictions at 64k / 65k where the principle of Wave 5 = Wave 1. MACD, Stoch, RSI already shown signs of reversal from the bottom.

cheesywedges

The 4H Elliot did not go as per expected, but instead it is showing a Harmonic Butterfly pattern - and if we're hopeful it is the end of pattern and ready for a bull run

cheesywedges Updated 

I have charted based on Elliot's Theory on the Daily timeframe and we are in the Wave 5. If we zoom in to the 4H, we can see the micro Wave 1 and 2 completed and in the early of Wave 3. Elliot's rules were applied in the micro Wave 1 and 2 which gives us very strong confidence this is a Wave 3.

cheesywedges

Pattern Obvserving Ascending Broadening Wedge. This will confirm when the candle bounce at the orange trend line Elliot Wave 1-5 already completed and we are in Wave A. However it is not yet Wave B until we see a bullish candle close Indicator MACD - Hist < 0, looking for it to reverse between Wave A - B Stoch - K & D is below 20, signs of a reverse is...

cheesywedges

Looks like there is a very obvious Elliot Wave on the USDJPY on the 4H timeframe, but it does not fully follow the rules on the ABC Correction Wave. Things look bullish on the chart, but if we bring out the MACD, Stoch and RSI, * MACD Histogram is lower than the previous candle * Stoch D>K * RSI > 60 and close lower than previous candle

cheesywedges

I am picking up Elliot Wave theory and applying the wave rules to ETH. I am following the rules set on wiki for Wave 1-5 and looked further on the Wave A-C elsewhere. From the theory and rules, we already hit Wave 5 and starting our Wave A. I projected Wave A-C based on the fib levels. Looking at the rules we might be retracing back to $900 All criticisms welcome :)

cheesywedges

Picking up Elliot Wave Theory. I'm following the youtube below for starters. All advise are welcomed.