Nov 29
My last post on Silver outlines the macro trend that I believe Silver is currently tracking. Silver is in a Cycle 3, Primary 3 wave upward – which would be the heart of a massive move up towards new highs. How can we use Elliott Waves to forecast some targets? First, let’s look at the …
Nov 19
Hello All, The long awaited Elliott Wave count for silver is below. In order to chart the whole timeframe from 1915 to now, I was able to acquire Monthly historical data, adjusted for inflation. In order to chart it over this long timeframe, I used a Logrithmic scale, which makes the price at the lower …
Nov 13
The Stochastic RSI (StochRSI) is a technical indicator that is used by traders to identify overbought and oversold market conditions. It is a derivative of the Relative Strength Index (RSI), which is a momentum oscillator that measures the speed and magnitude of price movements. The StochRSI is calculated by applying the stochastic oscillator formula to …
May 12
I am in the process of creating a post that has an EWave count for Silver and wanted to give an introduction to the silver futures market. Introduction Silver futures are contracts that allow investors to buy or sell silver at a predetermined price on a future date. Silver futures are traded on exchanges all …
Nov 06
I have not updated my Bitcoin Elliott Wave count since July and since then, price has moved rapidly upwards, suggesting that Primary Wave 3 (P3) is still unfolding to the upside. I’ve revised the Major and Minor wave labels for my Elliott Wave count on the daily chart, as shown in the screenshot below. This …
Jul 21
Bitcoin price looks to have found the bottom for [4] – P3. The triangle I proposed for the wave [4] correction in my last post turned into a double zig-zag that reached 1826, which is a 55% retrace of the [3] – P3. Refer to the updated daily chart for the new labels for this …
Jun 28
I currently have the count for Bitcoin in wave 4 – [3] – P3. The high at 3003 on Bitfinex marked the top for wave 3 – [3] – P3. Wave 3 did not disappoint, reaching a fib extension of 3.78 times the length of wave 1 – [3]. This surpassed my expectations, as you …
May 08
I felt it’s a good time to update my Elliott Wave count for the Bitcoin chart after the great run it’s had over the past two months. I’m sticking with charting Bitfinex price even though their price has diverged to a higher price compared to other exchanges. The exchanges are still moving up, along with …
Feb 18
Please refer to the screenshot of the Bitfinex daily chart below to find my updated Elliott Wave count for the recent Bitcoin price movements. I currently put bitcoin price in a wave 2 – [3] flat or expanded flat since the top for wave 1 – [3] that occurred in early February at the …
Jun 13
By my count, Bitcoin price is currently rising in a Wave 3-[5]-P1 move higher. The 1.62 * Wave 1 extension of the move is at 739.94. I expect bitcoin price to hit some resistance around that area, shown by the first white circle. The new red trendlines are a parallel channels, with slope matching the …