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Correctivestructure

BTC D1 - KIJUN SEN HOLD !D1 : After having broke in an intraday basis the Kijun-Sen and reached a low of 44151, BTC recovered nicely, to close @ 46315, above KS. Global picture remains heavy. Indeed, despite the rebound seen recently, BTC is still below Mid Bollinger Band which remains a very good "barometer" indicator as you can see in the past. Therefore, I still consider current price action as a CORRECTIVE MOVE ONLY... and not as a trend reversal yet. Only a move above Mid Bollinger Band, currently @ 49644 would force to a view reassessment of the expected bearish scenario with a confirmation on a breakout of KS (51253) and pivot resistance level @ 51530. Watch H4 and shorter time frames to detect intermediates validation or invalidation signals. Have a great weekend. All the best and may your long goes up and your short goes down...
BITSTAMP:BTCUSD
by Ironman8848
1
Correction On Treasury Bonds Can Be Supportive For GoldHello traders! Today we will talk about 10Y US Notes (treasury bonds) and its correlation with gold. Well, as you may already know, treasury bonds and gold are in tight positive correlation and gold is currently down mainly because of 10Y US Notes. However, a decline looks corrective as we see 10Y US Notes trading in an A-B-C decline, while gold is in a more complex W-X-Y correction, but support may not be far away. While 10Y US Notes can be looking for a support around 132 level, gold may face strong support around 1700 level. Just please keep in mind that we need confirmations, so only if we see strong and impulsive bounce from projected support zone, only then bulls could be back in the game. All the best and trade well! If you like what we do, then please like and share the idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
ULong
by ew-forecast
EURUSD Remains BullishHello traders! EURUSD was down in January, but it is a very rare case to find a peak at the beginning of the year, especially after recent three-wave A-B-C corrective decline only. Well, with current strong bounce back above channel resistance line, it seems like it's confirming bullish trend and we believe that EURUSD may retest the 1.2350 highs in coming days/weeks, so more upside is in view as long as it's trading above 1.1950 previous lows. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Long
by ew-forecast
2
GJ Full Analysis !!Good day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair. Monthly : We Have an overextended "W" Formation and we expect a retracement at least to the 0.382 FIB level which is in confluence with the potential Target 1 . Weekly : We also have an "W" formation as well and the neckline is exactly in confluence with the 0.5 Fib level taken on the previous impulse leg. Daily : We are sitting at a Wave 5 and we are expecting a correction sequence "ABC" before the continuation to the upside . COT : Institution have been decreasing net positions in JPY since they closed more than 8500 long positions and added to 1100 Short position during the last report. From an GBP perspective we are still looking at a strong GBP because hedge funds added more longs positions than shorts and this explains the fact that there will be a lot of buy limits on this pair and then support our idea of correction in the market. 8H: We are currently super bullish and we will be monitoring price action around the Entry area for the environment to shift from a bullish to a bearish environment so we can execute our entry for a good R:R trade setup. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. You can also leave a comment and let me know which pair you'd like me to analyze in my next idea. Trade safe !!!
Short
by TheDayzen
GBP/CAD Time for an update.Good day Traders !! On this pair we can clearly see that we had a very strong impulse that we would like followed by a correction at least to the 0.5 Fib level. The price almost hit our 0.382 FIB level and we believe that the correction is not quite done. We are sitting on the 4H just above a support and we would like to see the market turn to a bearish environment and break that support so we can position ourselves on the breakout for a nice short with a good RR. Also we have a CAD that is strengthened by the financial institution who added more than 10K long position on the last report that came up on Friday. Now if you enjoyed this analysis please like and share. BTW I will link in the comment area the previous analysis about this pair for further references. If you have a different opinion I would also like to hear about it in the comment area below. Trade safe !!
by TheDayzen
3
GBP/CAD UPDATE. Are we ready for the next launch ? Good Day Traders !! On this pair we have a very strong impulse to the upside made during the past week as we expected, now the market started a nice correction to the 0.382 Fib level. for such a strong impulse we expect the market to retrace at least to the 0.5 Fib level which aligns perfectly with a strong support area and demand. We will be monitoring price action on the 4H timeframe when the market reaches this area in order to place a nice long setup with a 1/5 RR so we can ride the continuation of the impulse to the upside. Now if you enjoyed this analysis make sure to like and share. I will be linking the previous analysis of this pair in the comment area below. If you have a different opinion make sure to leave a comment in the area below for further insights about this pair. Trade safe !!!
Long
by TheDayzen
7
We're ready to launch EUR/CAD is in the last corrective wave before the continuation of the trend. We are expecting the market to provide to us a last impulsion to the upside. From a COT perspective the smart money added more long than short on EUR which aligns perfectly with our vision and give us more probability for a successful trade. I hope you enjoyed this analysis , Like and share if you did. If you have a different vision please leave a comment below. Thank you and have an amazing trading week. Trade safe !!!
Long
by TheDayzen
1
BTC - The Next Step 🚀 PART 1DAILY CHART (LONG TERM BULL ANALYSIS) It was only a few days ago that BTC hit that $42k “top”. In this analysis I will present the bull case in this scenario. Bitcoins price has been consolidating as shown by the converging trend lines. The trend lines converge right around the end of January. This consolidation is building pressure and bringing us to a very important point. Was this dip a correction, proceeded by a reversal? Or was that the top, and we’ll see the downtrend continue? This is the bull scenario, so we’re going to the realistic moon here 🚀 The fib levels I have drawn are extremely accurate and start at the beginning of the rally in March 2020, ending at the $42k top. NOTE: THE DIP ALREADY TOUCHED THE “GOLDEN ZONE” BETWEEN THE 0.618 LEVEL AND THE 0.786 LEVEL! Many people bought this up very quickly. The middle point of the convergence is also a key level, which I believe supports my theory. BTC could also fly up breaking the wedge as early as next week around January 23rd. But if the price continues consolidating, watch the price action at the KEY LEVEL around $36k. Catalysts: Monthlies and YoY options expiring end of January. Big big money for will be moving around the end of January. Biden stimulus cheques and money printer going BRRRRR mean people will seek to protect from further inflation. TLDR; the bull case is this “correction” will end by the start of February with a breakout from the wedge to the upside. Bulls are targeting the next fib level (1.618) at $65,566.01 🚀🚀🚀🚀🚀🚀🚀🚀🚀 Follow for PART 2 where I will present the bull case for the level ABOVE 1.618, and I think you all know where that level is... 🚀🌝
BITSTAMP:BTCUSDLong
by ChigzTrades
FaceBook Is Looking For A Lower Support LevelHello traders and investors! Today we will talk about single stock FaceBook in which we see quite clear Elliott Wave pattern. If you are familiar with Elliott Waves, then you know that after every five waves, a three-wave a-b-c pullback follows. Well, as you can see FB made nice and clean five waves up from March lows and currently seems like it's trading in an a-b-c correction where wave "c" is still missing, so be aware of that wave "c" drop that can send the price back to ideal previous wave "iv" swing lows, golden 61,8% Fibonacci retracement and 205 support level and later then we can expect another bull-run, but only if we get strong and impulsive bounce down there. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NASDAQ:META
by ew-forecast
1
GOLD (XAUUSD) - The giant correction ABCDE - daily outlook.After months of closely observation of these big corrective moves on Gold, we can assume that we are almost in the ending of the complex structure. Looking at the whole structure in its internal movements, its looks like a giant ABCDE (3-3-3-3-3 corrective waves structure) in wich we are in the last one (the "E"). This chart will be use as monitoring the last decisive moves. You can see my other 2 ideas (linked to this) in wich I'm counting every internal move with Elliott Waves.
FX:XAUUSD
by fra978
9
CABLE (GBPUSD): WAVE (C) in play - daily chartI think that we are in a corrective ABC structure inside a wave (C) in the daily chart. According with this count we may are inside a bigger wave 4 before another big dip for the wave 5, or the previous impulsive movement may already be over also. So if this count is correct we may have 3 different potential targets for the completition of this (C): 1) 1.374xx in case of a regular flat 3-3-5 ABC 2) 1.43 in case of an expanded flat 3-3-5 ABC 3) 1.518xx in case of a running flat 3-3-5 ABC (that's the mostly rare case of this type of corrections, so this target will be difficult to reach i think, but not impossibile) Lets see what will happens!
Long
by fra978
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FWB:ZEGLong
by waveful
Bitcoin: Not Over the Hump Yet!If you're not the first to fomo, you're probably too late. - A grueling lesson learned over the years. Though Bitcoin is at a new high, there is even more chance of a correction! Fractal from the 2017 rally shows after BTCUSD made a new high 15% above the previous, price action was followed by a correction to the 0.382 fibonacci level. Supporting this, median pitchfork levels have continued to serve as strong support & resistance over Bitcoin's life cycle. This median zone created resistance before the 2017 rally, and may serve as resistance this time around as well. The chart above shows how we are currently in the resistance zone of TWO major pitchfork medians, 15% above the 2017 high of $19.5k. The setup is there. So the question is, will the market reward those who are willing to position them correctly, or will fomo get the best of us all? The Plan: Currently 15% exposed Hoping patience pays off by waiting on a correction to comfortably re-position myself around the 15k level Will likely fomo back in if we close a weekly above the median resistance zone; & shame on me for trying to be a responsible trader :) Target: $30,076 The chart below shows just how effective these pitchfork fractals have been over the years.
BITSTAMP:BTCUSDLong
by oh92
1
XAUUSD - Elliott Wave Forecast - Q4 updateHello all, It's pretty clear that we have a zig zag correction playing out here. Waves 'a' and 'b' have already been put in. This leaves us with the final wave 'c'. There is a strong possibility that it is already complete and the low has already been put in (please see linked idea below from Nov 22). A breakout to the upside will take price to the 1910-1920 level. However, there is also the possibility that wave 'c' will extend further with a potential lesser degree leading diagonal in play. This could bring XAUUSD to a lower level around 1670-1720. Simply staying aware of where price could likely be heading to. Awareness is key. Follow for further updates, your 'likes' are much appreciated and your comments most welcomed. Trade safe and always remember to plan your trade and trade your plan! Beyond Edge Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
OANDA:XAUUSD
by BeyondEdge
3
XLM/BTC - Breakout from Double Three Correction An update on XLM/BTC. It looks like a clear breakout from the Double Three structure with price breaking out from the zigzag into an initial five wave impulse of a smaller degree. Let's see how it plays out for confirmation. Please refer to the previous idea I have linked below and follow for further updates. Trade safe, Beyond Edge Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
Long
by BeyondEdge
GDR versionsAll 3 possibilities in one overview. Looks like with today`s action GDR is heading to the shorter sub-C wave completion before it moves up. I would expect a double bottom at 0.45 and 5th wave truncation. The point would be to create a bullish divergence on the Daily. Dont exclude the WXY version yet, we might not see 0.45 again and bottom was done already. Current action could be start of the larger C wave with sub 1-2 in the making. I keep my longs, it is a great entry value here, and if drops to 0.45 or below it is a buy with both index fingers.
GLong
by tempertrade
Bitcoin - entered an extremely dangerous zone!Hello, Traders! After long attempts to pass the resistance level of 18800 $ Bitcoin went into a correction to the support levels. As we can see, the trend's acceleration ceased as a result of breaking the trendline growth from 15800 $, the price fell under the MA100 by 1-hour timeframe and formed a downward trend on the indicator RSI. Now we can distinguish several zones of buyer's interest, each of which corresponds to the correctional Fibonacci levels : 17930 - 18245 $ (0,236) 17365 - 17600 $ (0,382) 16200 - 16475 $ (0,618) 15560 - 15800 $ (0,786) We can observe the traded zone in the area between $17600-16475, consequently, if the next buy liquidity buffer between $177365-17600 does not stop the sellers then Bitcoin may be in a dangerous situation and will continue correction to $16475. Trade with extreme caution and don't forget the risk-management! Please leave your feedback on my setup in the comments below
Short
by UnknownUnicorn10064030
3