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XAUUSD (Gold) 4hr tf analysis

Price swing for XAUUSD (Gold) from ~1353.67 on March 27,2018 to ~$1322.85 on March 29,2018 is identified in this analysis as a 5 wave move. This implies that XAUUSD should complete a zigzag (5-3-5) Elliott wave structure.

Arrows used on the chart show the trajectory for price action. The Target area for XAUUSD before a sell off is between $1356.82 and $1351.55.

gold 4h

Any sell off (i.e. blue arrow) that follows price reaching the target area should at least see XAUUSD (Gold) reach $1322.85

Point of invalidation (POI) for this analysis is a price close above $1356.82.

P.S. Analysis was carried out using FXCM’s data and prices mentioned above might vary slightly depending on your broker.

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XLMBTC (Stellar Lumen) 4hr tf analysis

Price swing from ~0.00005613 on January 26,2018 to ~0.00002311 on March 18,2018 indicates the completion of Minor wave 1, Minor wave 2 and Minor wave 3. XLMBTC (Stellar Lumen) is currently in a Minor wave 4 position.

The 38.2% and 50% retracement (target area) of Minor wave 3 by Minor wave 4 is used in this analysis as the possible termination region for Minor wave 4. Target area is therefore between 0.00003238 and 0.00003525.

xlm baby

Point of invalidation (POI) for this analysis is a price close above ~0.00003872 (POI is placed just above the 61.8% retracement of Minor wave 3 by Minor wave 4).

The use of price “swing” by the author is simply to refer to a general trend for price action. Price swing is therefore not implied to be an actionary or reactionary Elliott wave.

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Ethereum Classic (ETCUSD) 4hr tf analysis

My previous post on Ethereum Classic can be found here.

It was mentioned in the post that Ethereum Classic was in a minor wave 5 position and more selling was to follow to complete minor wave 5.

Ethereum classic chart

Ethereum Classic is identified in this analysis as having completed minor wave 5, which also terminates an intermediate wave (C).

This implies that Ethereum classic will sustain an upwards momentum and the target area ( ~$20.78  and ~$20.07) set in this analysis is the region of the 4th wave of the previous degree i.e. Minor wave 4.

Point of invalidation (POI) of this analysis  (not shown here) is a price close below ~$10.00.

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Verge (XVG/BTC) 4hr tf analysis: Patience required

Price close of ~0.00000327 on March 18,2018 has been identified in this analysis as the termination point of a Primary wave degree i.e. wave ((X)) or an intermediate wave degree i.e. wave (C).

VERGE

Besides, minor wave W at ~0.00000985 on April 03,2018 is the latest pivot for XVG/BTC. The implication of the above is that minor wave X should follow after which minor wave Y will see Verge (XVG/BTC) move past its latest high (~0.00001044) on April 03,2018. A reactionary wave (or correction) from the most recent high would argue for higher prices in Verge (XVG/BTC).

 

Failure to establish a corrective wave from the most recent high means XVG/BTC should work its way back down and reach at least ~0.00000327.

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RIPPLE (XRPUSD) 4hr tf analysis

My previous post on XRPUSD (Ripple) can be found here:

Analysis of XRPUSD then called for a minute wave ((y)) back upwards to ~$0.74 for XRPUSD to finish a minor wave 4 position and then collapse for a minute wave ((v)). XRPUSD did not return for minute wave ((y)), but instead continued the sell off.

XRP

Price action at the time of this post appears to have completed a minor wave ((v)) which also = termination of minor wave 5. This implies that XRPUSD should sustain its current bullish momentum. A probable target for XRP is the region of the 4th wave of the previous degree ( i.e. minor wave 4) which has been identified in this analysis to be  between $0.69 and $0.72.