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Correction

AUDCAD 4H, Overall Bearish Trend AUDCAD has been in a downtrend as we can see price impulsively pushed downward which is now in a bearish correctional phase making lower highs but holding the 0.92 level firmly. Looking at areas of interest, I would like to see price break upwards and complete a larger correction as we add other bearish confluences like a double top and a 3rd touch on primary trend line. Price may continue to follow the secondary trend and continue to make another lower high and break below the 0.92 level to continue downwards. What's your view? Share your opinion by leaving a comment! Thanks Trade Safe
Short
by ktlfx
2
GOLD correction to RANGE and new EXPANSION!!!The gold market dropped from the resistance zone after breaking out of the range. The market broke and fixed below the smalll range zone. The price is moving toward the main support level at 1800 after making impulse moves. I think gold might go down because the price action forming a correction extension pattern. My goal is the support level at 1802.000. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
TVC:GOLDShort
by Jha_Nidhi
4
Continue, Pullback or Markdown PhaseI feel that TSLA is in or heading into correction. $214 pullback, continue or correction. Original Thesis was $234-$238 Correction zone with Pullbacks and gap fills before big Correction. This would also be a great BullTrap so that Wall-street can bank on the $200 Call Options this week. *TSLA is STRONG, The Markets have been Rallying but there are Warning signs that we are in or going into correction. Bullish Thesis Continuation idea: this is a set-up for impulse move to $223, pullback then or continue to then $238 & gap fill with big sell-off Lots of TSLA Events coming up which is bullish for next couple of weeks *Pullback/Correction Idea: Measured Moves: Extension and Retracements are matching. Extension: 2 Retracement 0.618 Date Range from capitulation event to now are equally measured. If $215 is broken then TSLA can continue to $223 for wave 5 and correct (Bullish Final Move Idea: this is pullback for pop to $223 and pullback) If TSLA stops here and the Markets Correct then this could be the set-up for Pullback or Correction. (possible sideways trading for next 2 weeks) *Daily Volume is showing only Buying - Small Time frame is showing Steady Selling and Impulsive Buying with Automatic sell-off. These are signs of Wyckoff Distribution Phase. *** Pullbacks being bought up are Strong Bullish signs* but TSLA Price has Moved up only 6% in 10 days...on large volume, so distribution is happening, amount of effort to move price is becoming harder to maintain price markup...but is it in correction mode yet is the question. TSLA can still go higher to extend Impulsive wave 5* currently Wave 3 and 5 are of equal distance which could represent end of Markup. note:I am not an Elliot Wave Expert* Bearish Sentiment: Greed is strong *Seasonality- Markets tend to Drop off Mid February Vix above 20 us 2y, us10y, dxy,vix all breaking out. Divergence of NYSE ADV/DEC Current Sentiment: Bearish* Drop here or possible Upthrust to $223 with Hard-sell below $200 Let me know what you think
NASDAQ:TSLAShort
by Black_Sheep1
7
CADCHF I Impulse correction and continuationWelcome back! Let me know your thoughts in the comments! **CADCHF Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
11
A Recession vs a Bearish Correction The bitter memory from 2008 still persists in our minds, or at least in the minds of those who witnessed first hand what a Great Recession is. In 2008 many variables were set and many gears were in motion. Long story short, even though the media has attempted to call a recession, or to spread the fear of the bear among the people, which technically yes, it is a bear market by definition, it is not a recession, just yet. We’re in a hiking rate environment, and still the major indexes have managed to find support on the long term moving averages. Comparing the levels and the moving average crosses today and in 2008, the main difference we find is the levels did cross down and the trend was officially bear. Afterwards a capitulation took place and the macroeconomic variables changed to provide the environment for a rebound and a reversal which gave birth to this secular bull market. We’re not at the capitulation level, the volume has been steady and we’re on the bullish side of the trend. What did we just witness? A bear leg, basically a painful correction. The indexes are turning to the upside, the market took profits and the VIX scratched above the 20 level. We’ll probably see more selling because we’re in the take profit part of the short term cycle. We’ll see how deep the market is willing to dive, but the positive momentum divergence and the back to the green of the indicators show the intent to go for a bullish leg. The target area is at the 4500-4600 level.
SP:SPXLong
by Madrid
2