Contractingtriangle
USDINR 5th wave Contracting diagonal on weekly chartUSDINR is on the final wave on weekly chart. Should wait for the breakout for shorting. On long time view expecting to fall down. anyway we have time for this to happen.
USDCAD: Triangle Completion Could Indicate Long TradeWe may have a possible contracting triangle scenario if price drops from 1.3310. Price is still on the trajectory to reach the TP projection of the Garltey pattern @ 1.3415. A clear uptrend and with clear structure formation. Wait for confirmation before looking for any buy setups.
BTC (Prj.Y19.P6.E2).Micro.Level.MoveBTC is forming a contracting\symmetrical triangle with the momentum on the downside (more likely)
As per chart, the target area is the height of the triangle matches the next level support.
It would be important to keep an eye out on the RSI level. A Bearish Divergence will also help confirm.
Finer details as the chart progresses
btcusd
possible scenario for BTCUSD
it's a downward pattern and can take some time, around Aug i think downward will begin
do not forget in long-term, BTC is in uptrend. so this is just a correction and then new uptrend rally will come again...
mid_term analysis for BTC join to our free telegram channel
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EURUSD SHORT While I have learned not to take trades in anticipation of correction completions, the EURUSD looks like it MAY be setting up for a clean classical contracting ABCDE correction for further downside. In my opinion, keep an eye out for the completion of the D leg to anticipate a possible E leg short.
Siacoin to the moon?Hi there,
Note that i'm not a professional, i'm here to learn and therefore feedback is much appreciated.
I've noticed two contracting triangles in the SCUSD chart. This in combination with the fact that the SCBTC chart is showing a massive cup&handle pattern makes me believe Siacoin is going to skyrocket soon.
Now i have to say i just started reading up on Elliot waves so correct me if i'm doing anything wrong.
Also i would like to know how i could place the last 5 impulse waves on the correct height when a symmetrical triangle like this occurs. Is there anybody who can give me feedback on these questions?
Thanks in advance.
Stratis STRAT possible breakout!!'Stratis shows a corrective pattern called a contracting triangle, which indicates a possible end to the 2nd wave correction.
Ready for some fireworks!!
GBPUSD - Possible reversalThere's a good possibility of going long on GBPUSD. Previous structure broke to the downside (massively) and created a bullish Bat pattern. It might go lower, but there's a trendline (from october 2016) that could retain the market. Also, MACD starts showing bullish divergence.
EURUSD. Long then short. ABCDE Contracting triangleIt is quite possible that we are in a last wave E up (green arrow)
before the collapse of the pair to the parity area between the 1.03 and 1.00 (red arrow).
I put the 78.6 Fib to flag the possible reversal point.
I put thin dashed red vertical lines to isolate each wave inside of a triangle to facilitate the understanding of the setup.