Mikaktimeprediction — Trading Ideas on TradingView

Euro Hkd Trade long The analysis is as follows: Currently, we are in the wave five of a primary impulse wave. What makes me believe this idea, is that there is clear alternation in the waves 2 and 4. Wave 2 is a short and deep zigzag, whereas wave 4 is a long and shallow triangle. The wave 3 is CLEARLY extended, and this is obvious from its very shallow corrective waves, and its comparatively larger subwave divisions. The wave 3 also happens to perfectly hit an wave 3 extended target of 2.618 the distance of wave 1. The wave 4, only has one concerning feature. The spike through the upper boundary, could be a red flag, but I am choosing to look beyond this since it appears to be a margin call of some sort. I believe that this will continue up until the 3.618 extension, or the 9.32136 or the 9.3330 area. My only concern is that we have alread moved beyond the triangle thrust measurement, which is the minimum distance for the wave 5 to travel. As a result, it would make sense for the wave 5 to retrace from this point. (This is represented by the red line) Assuming my count is correct and this moves to the 3.618 area, I would think that it is going to move back to the wave 4 low, at the very minimum. This would provide for a very great trade setup. Mika K time prediction technique I have yet to use this on a triangle, but I am excited to see what happens. I am placing the end of the wave 4 at the 0.768 fib time zone, which shows me that the wave 5 should be done around 11:00-8:00 pm on april 15th. I am actively looking for ways to be more accurate with my time predictions, but for now this is fine.

EurUSD Trade Idea The case is as follows. The greater trend appears to be toward the upside. Assuming my elliott wave is correct, we are currently in the 5th wave of the higher trend. Evidence for this is as follows: There has been a clear wave 1-2-3 developement. Wave one was followed by deep and short zigzag. Following the zigzag downwards, we see a clear, extened wave 3. What I enjoy about this wave count, is that is possesses alternation in the greater wave structure. Assuming my count is correct, the wave 2 was a short and deep zigzag followed by a longer, sideways flat correction. Of course there are some concerns around what I call the wave three. Concern number 1: There appears to be no alternation in the wave three. I argue that this is still a wave three because according to elliottwave guidelines for the impulse wave, when a wave is extended, it is common to see short corrective waves and larger impulse waves. This is a trait that we see in our wave 3 for Euro/USD. Concern 2: There appears to be a really short wave 5 in the wave 3. My explanation for this is that we have traveled a great distance in the waves 1 and 3, which resulted in less bullish momentum for the wave 5. The common projection for the wave 3 is a 1.618 of wave 1, but we can see that it had alread reached this extension by the end of the wave 3 of the larger wave 3. As a result of this, I don't see the shorter wave 5 as a problem. Concern 3: The wave 4 of the greater trend The wave 4 of the greater trend gave me doubts about posting, but I strongly believe that I should put myself out there so I can learn from my failures, should there be any. This 4th wave appears to be a flat, but I am unsure about the substructure of it. A 3-3-5 makes sense, but the wave 1 of the wave 5 we are seeing now isn't as strong as I would like it to be. My other idea for this would be a count that makes this 4th wave an undeveloped triangle. Should this be the case, we will be seeing a wave 4 that continues for a while longer. The reason against the triangle, was I was I found it hard to reason why the wave B of the triangle has surpassed the top of the wave 3. In addition to this, the waves of a triangle typically retrace 0.61% of the prior wave, but as we can see, this is not the case. As a result of this, I conclude, that a flat has just finished and we will be seeing a 5th wave move to the 1.2 price target. In this event, using the mika.k time prediction technique, I expect the wave 5 to end around 10 AM on april 14. This wave count will be discredited if we see a move beyond the low of the wave 4, which is 1.18716. All in all, I am probably 80% confident in this trade. As I tried to justify the wave count, a thought came into my head that made me want to refer to other forms of analysis, such as rsi, and macd, to support my count, but this would show that I lack faith in my elliottwave abilities and these tools would act as a crutch for me. I would simply use them to justify whatever I wanted to see. If I want to get better at trading, I must learn to trade using one simple method and master that, which is why you don't see me refering to any other form of technical analysis. Finally, I felt nervous writing this post since I feel like I am on a hot streak. No matter what happens I am happy to say that I waited for this move to unfold before I posted about it. I didn't guess, but instead, I waited all day until I saw an opportunity a clear wavecount. I believe I am well on my way to becoming one of the greatest traders to ever live.

EurSgd Long The case is evident from the chart. Similar to my EurUSD chart, we are in the middle of the wave 3, of the wave 5, of the greater trend. My reasoning behind this is stated below: 1: A very clear extended third wave can be seen. All of the rules and guidelines for an impulse wave have been followed. 2 does not retrace beyond the start of 1 3 is not the shortest wave 1,3 and 5 are not all extended. 4 does not move into the price territory of wave 1. We see a deep and long wave 2, and an alternating wave 4 that is short and shallow. The target for the wave 5 is the 3.414 -3.618 fib extension of the primary wave 1. Using the mika.k time technique I anticipate this will happen sometime on april 14th, from 11-21:00. My concerns with the time technique for this chart, is that the wave 4 of the primary trend has been very hard to identify. I will only know if my wave 4 termination is correct depending on the termination of the wave 5. If the wave 5 moves to my target within the time I predict, it confirms that my wave 4 was accurate. My other concerns with this chart, is that the wave 5 doesn't end up moving to the 3.618 extension of wave 1, but instead stops at around 1.60595. This would happen in a situation where the bullish momentum isn't as great as I forecast it to be. If the bullish momentum for wave 5 dies down, we can see it going towards the 1.60657 target, but if the momentum continues further, I believe a 3.414 -3.618 target from the primary wave 1 is possible. My final concern is that the wave 4 I have outlined isn't as picture perfect as I would like it to be. It doesn't show a clear corrective form. I assume that this isn't that bad, since it could imply that there is a lot of bullish momentum.