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Correctionwave

TSLA - ABC CORRECTIVE WAVE$TSLA, From reaching the all time high of 1,243.07, Tesla creates and nearly completing a good one example of Elliott corrective wave or Zigzag. In Zigzag rules: Zigzag is subdivided into 3 waves which subdivided into 5-3-5 waves. Wave B never moves beyond the start of wave A, wave A and C is subdivided into an impulsive or diagonal, and wave B is subdivided into three waves, a triangle, or a combination. This correction wave could be close the gap and reach the 840 Level and can be considered a healthy pullback with declining of volume and forming a bullish chart pattern. This pull back has a potential to reverse the short term trend upside.
NASDAQ:TSLA
by Damako
EURCAD Analysis KiSS 2.0 BUY Coming Together Welcome back! Here's an analysis of this pair! COMMENT BELOW and let us know your thoughts or questions! ** 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 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! Brian & Kenya Horton, BK Forex Academy
by BKTradingAcademy
7
Weekend target of 56k possible for an ABC correctionThere looks to be a high possibility that bitcoin is currently in an ABC correction coming down from the current ATH. As shown, A ended at ~59.5k with a 5 wave correction down and now we are an ABC correction (shown in green) for a larger B correction up. I think from here bitcoin will fall back to the 61k region with a bounce to 64k to complete the B wave. Note: A break of 59.5k would invalidate this and we would have to say Wave C down has begun with Wave B ending at 63.7k and have to find new potential targets and Wave counts. Then after, 5 waves down to complete the C wave which shown by an estimation of a 1 to 1 retrace puts it near 56.5k. As to the timing I use parabolic curves (I have found to be good at finding reversals) for the B wave ending on the 4H chart: For the ending C wave: This also suggests that it may drop to around 56k as there is a strong potential for support here as shown by the green horizontal line drawn in. I would say most likely a bounce will happen in this area as long as it follows this path. There currently is hidden bullish divergence on the 4H RSI which I believe to be playing out now and also a hidden bull is showing on the daily. I believe for the daily RSI though there is potential to be a stronger hidden bull that will occur following this ABC correction Yellow - Current Hidden Bullish Divergence Green - Potential Hidden Bullish Divergence at the end of Wave C To invalidate this being an ABC correction, or to say it already completed, it will need to break the current ATH, then I will need to reassess as to where the new target may be. As to what this means overall for bitcoin I will wait and see as to what happens next. If this is a B wave we're currently in I will like to see where it ends first. After that it would be more accurate to figure out where Wave C would end and then determine what count we are starting on the larger time frames (Weekly and up). I will post more ideas to this and more about the idea of still seeing a new ATH in the near future and what the potential target(s) may be. ***Disclaimer: I am not a financial professional/expert and all ideas from me are all speculation based off of my own research. Please do your own research as well as I am not responsible for others when it comes to their financial decisions.***
COINBASE:BTCUSD
by WITSIT
BTCUSD time to see a correction after that huge pumpSimple and easy this daily candle until now is showing us 57K or 42K as targets. As it mentioned on the chart too we are looking for the start of correction over here and then targets like: A. 47000$ B. 45000$ C. 42000$ Notice: why we mentioned 57K at the beginning of this analysis? because if and only if price mange to break the resistance of 53000$ and this red daily candle gets green and bullish then it can easily pump and hit a new high here. Notice2: take look 4H chart that is linked below and see the major resistance zone that remains valid and the reason that 53000$ is an important zone. DISCLAIMER: ((trade based on your own decision )) <>
BITSTAMP:BTCUSDShort
by MMBTtrader
69
Bitcoin correction wave is near to end up?Hello Hello Hello, It seems it's time for ending up the correction wave! but not be surprised by how fast it happened as we have two forms of corrective waves: 1- price correction and 2- time correction. I suggested that the latest impulse wave might be in the form of a channel or a wedge, however, both of them have become true, all depend on your view. Now it's time for forming a correction wave in which it looks like a horizontal movement, as buying power is still high and some indecisive candlestick patterns are appearing in the market. For the sake of simplicity, I draw two feasible routes for the future target (follow the blue and green lines). One suggestion for you, don't be afraid and buy step by step. And one more thing, as the market is brutal and surprising if the price suddenly goes under 45K, just stop buying and be aware of a really deep correction is on the way! but there is no room for panic because this is Bitcoin and soon or later it will come back up again to the moon. God bless you,
BITSTAMP:BTCUSD
by RoohSur
Double Top before the BiG DroP?!?This flashcrash will pivot soon IMO. Statistic: Most ATH occur in September. Did in 2020. Friday Triple Witching culmination? NQ has been bearish but acts more like consolidation at support, making higher lows. NQ is >25% of SPX market cap. We have seen time and again how the bulls grab every dip and this one likely to be perceived as just another opportunity. Do not get caught short when it bounces. Expect rally to double top, likely nominal ATH on about Tues 7 Sep. Indices are all oversold. Notice how QQQ tanked more on Tuesday? RTY has already tested 200 MDA twice, pop likely IMO. Would not go LONG until MONDAY, will dangle a few shorts until then. See short ideas attached. End game plays IMO. This WILL bounce, either a countertrend wave or another mad bull runup to new ATH, either way puts, inverse ETFs just melt. Selling VPS for credit, using credit to buy calls one way to play bounce. Or buy ETFs fgs. All risky, all scary. Not recommended for the faint of heart. DEFINITELY NOT ADVICE! GLTA!
TVC:SPXLong
by DaddySawbucks
6