Correctivestructure
long after break of descending channel Waiting for a break of the descending channel to the downside to look for potential longs to around 1.09
GBPUSD Sell forcast Looking for the Y leg correction down before a buy trade develops to complete wave 4
EW Analysis: BTC Is Losing Dominance, But Only TemporarilyHello traders and investors!
Today we will talk about Bitcoin Dominance and its wave structure from Elliott Wave perspective. We will also show you how it can be useful in analyzing XXX/BTC cross pairs with the help of EW.
If we take a look on BTC.D daily chart, we can see a sideways consolidation for almost a year which usually suggests a corrective movement, especially if we see a three-wave w-x-y drop in the first leg »a«. Well, we believe that BTC.D is unfolding a bigger bullish triangle pattern and current decline can be just as part of wave (c)/«c« that can find support very soon, ideally in the projected support zone around 64-63 area.
Be humble and trade smart!
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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.
AUDCAD forecast with two possible scenarios for months to comeThis is my current view in weekly time frame. If you have a different view on this chart please let me know in the comment section. Please trade with care.
Long after corrective patternWaiting to see if some form of corrective pattern forms.. will then be looking for long opportunities
Possible long-term outcomeExpect to see the momentum to the upside slow forming some type of ascending channel
#AUDCHF Long after the break Currently looking at retails traders trying to push price lower and its just not working
Waiting for confirmation that the big boys are back in the market and ready to push it long again
Near the TOPAs you can see in the related ideas, I was expected the eurusd above 1.12. Now here it is.
There was a big swing during the coronavirus and now a three waves correction has been working. The price climbing higher in wave C which is getting matured. The upper line of the rising corrective channel should represent a resistance zone around 1.1250 - 1.13.
The rising trendline from wave (e) of ((b)) shows the wave C flow. If it will be broken down then the top wave C would have been found its place.
My long positions are partly closed and waiting for the rest closing(eliminated risk). I won't open further long and wait for the reversal signs for preparing to open short.
Corrective ascending channelThink this could be the last option for EU bears... the flag pattern didn't want to hold form.. so let's see what price action we get by the morning
#EURUSD - ShortLooking to open a short position if the bear flag pattern forms and becomes valid.
If not i will be looking for a deeper correction back up to the major resistance in the form of an ascending channel and then be looking for shorts.
#GBPCHF - Short after correction Waiting to see when this correction might finish for a big push down towards 1.12
CADJPY - Short on the third touch Waiting for a third touch on this ascending channel before looking for shorting opportunities
BCOUSD - Short on the break Looks like a corrective push back up to the highs.. looking for signs of a big sell off
EW Analysis: GBTC Can Be Forming A Bullish TriangleHello traders!
Today we will talk about GBTC - Grayscale Bitcoin Investment Trust from Elliott Wave perspective, which is telling us where Crypto investors are hiding.
As you can see, in the recent rise, GBTC came to the upper triangle line in three waves A-B-C only, so recovery looks corrective, ideally for wave (d), especially if we consider a triangle in wave B in the middle, which also means that BTC and friends may slow down into a deeper corrective pullback. Well, currently we are tracking another three-wave A-B-C decline again, probably down to 8.0 - 6.0 support zone for the final wave (e) and this is where a big bullish triangle may come to an end.
That being said, watch out for a limited gains here at the intraday highs, because a bigger decline into a deeper correction can be around the corner and it can be the same with BTCUSD and ALTcoins. Later then, we can expect the real bull run, when everyone will be very bearish again.
Be humble and trade smart!
If you like what we do, then please support us with a like and share.
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.
