Correctivestructure
WTI Oil, H4 - possible wave CThe recent sharp upward movement on the oil market caused by Donald Trump’s tweets looks like a possible wave C in a larger corrective movement. Previously the price of crude oil has reached the new low and has created a potential wave B which consists of three waves down. Before wave B we may spot a nice sharp rally which could be labeled as wave A. Currently the wave C may have been created. The potential resistance may be located at the wave A top near 28,20 USD.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
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#USDCAD - Smaller TF - ShortWaiting for a break of this corrective structure will then be entering a short position
We have had a test of a weekly resistance and have moved below the structure
Currently correcting from an impulsive move to the downside
W-X-Y Correction Predicts a BTC Bottom On June 29, 2020
Type Of Correction: The main difference between a regular A-B-C correction and a W-X-Y is the sub-wave count. While the A-B-C formation often has a 5-3-5 or 3-3-5 wave count, every wave in the W-X-Y correction consists of three sub-waves, amounting to a 3-3-3 correction. Since the W and Y waves often have the same length, this correction could end in June 29, 2020.
Possible Bottom : The decrease from the top of the W wave to the top of the X wave was 37.41%. It would make sense for the decrease from the bottom of the W wave to the bottom of the Y wave to be similar since the W and Y waves often have the same length, giving a low of $2200.
Future Movement: : It seems that the price is in the C sub-wave of the larger Y wave. This is expected to be an extended wave, similar to the C sub-wave of the W wave.
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CADJPY BUYBuy Cadjpy after correction breakout. Targe is weekly R1. it will be better to buy after the breakout. Add more buy if it makes more correction before the target.
Hit like for support and follow for many more upcoming accurate pips.
USDCHF Can Be Finishing A Big Bullish TriangleHello traders! Today we will talk about USDCHF in which we see an interesting wave structure.
USDCHF is trading in a big sideways range since 2015 and more and more looks like a big bullish triangle formation in wave (B) that can be approaching the end soon, ideally this year in 2020. We see it actually in the final stages of subwave E of (B), which is clearly falling in a corrective structure with three waves a-b-c, so if that's the case, then downside should be limited.
Well, if USDCHF finds the support and bounces in an impulsive manner here around the corrective channel support line and lower red triangle line, then we can start considering bullish scenarios, but keep in mind that only an impulsive rally back to 1.00 – 1.02 levels and decisive break above the triangle line can be a confirmation for a completed bullish triangle that can send the price even much much higher towards 1.10 – 1.15 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.
#EURAUD - Long Term SHORTThis could be a long term outcome for EA
There has been a lot of talk of Australia facing a recession so if that happens then I can't see it happening
We will see in the very near future
Brazil's Ibovespa Soon To Enter Grand Supercycle Wave 3With the recent plunge in the international markets, Brazils Ibovespa is soon to reach Wave 2 bottoming territory and should stage Grand Supercycle Wave 3 next.
Com a recente queda nos mercados internacionais, o Ibovespa deve em breve chegar no território de fundo de onda 2(Grande Superciclo) e em seguida encenar a onda 3 de Grande Superciclo
Suporte fortíssimo no fundo da onda II da (V)
DOW JONES LONG & SHORTExpecting a new record high for major equity markets(DJI , SPX , etc.) till september-october '19.
After that another deep correction may follow that highs before the new economic expansion phase.
I believe the worst is already behind , bottom was formed in 2018.
TP for Longs : 28.000-29.000
Correction Deep Target : 23.000-24.000
Good Luck.
AUD/USD short !!!!Hi Traders lastly we have AUD/USD. On this pair you can see we are currently in a downtrend ,predicting this market will keep going down ,the Aussie economy heavily rely on China and with this virus going around I don’t see any reversals yet. So any pullback in this pair ,preferably come back to retest broken support in this case(0.67420) we’ll be looking for bearish patterns and formations. And if we get the right bearish setups in this market we’ll be looking at shorting this pair to the downside target (0.6604)
Give as a like and follow for more
Good luck traders!!!!
GBPUSD - Short #Forex #ForexAnalysisI see the £ really struggling with still no certainty that Britain will leave the EU with a trade deal in place.
I personally think they wont leave with a deal and i see nothing but bad news for the £
I know it seems a bit far fetched to predict the £ to fal this far and maybe it will fall to last years lows and maybe it wont but time will tell
Any questions feel free to ask
EW Analysis: Bitcoin Can Be Bullish Confirmed NowHello traders.
Today we will talk about Bitcoin from the Elliott Wave perspective.
After that strong and impulsive rise in the first half of 2019, BTCUSD has slowed down in the second part of 2019, but clearly with slow and complex W-X-Y corrective structure that can be also finished with an ending diagonal (wedge pattern) in wave Y, which is actually a powerful pattern and it usually indicates sharp and impulsive reversal.
Not only this, we actually got a five-wave bullish reversal, which in EW theory signalizes a potential bottom at 6400 level, at least a temporary one. But, after every five waves, a three-wave a-b-c pullback follows, ideally into a higher degree wave B/2. So, before a continuation higher within wave C/3, we should be aware of a slow down into a correction, where ideal support would be between 8200 - 7700 levels.
All that being said, we believe that Crypto market is turning bullish, mostly because of strong and impulsive five-wave rally from the previous lows. Even some ALTcoins made nice and clear five-wave rise, so those Cryptos can easily see more upside, just be aware of a deeper three-wave a-b-c corrective decline soon before the uptrend resumes.
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.
GBPUSD (3 WAVE CORRECTION)There is possibility to go LONG from the current price upto to the level of 1.3280,
then SHORT upto 1.2780.
Note: Everything works with Best money management.
Note: Please leave comments for any query.
Disclaimer: Trade at your own risk.
Good Luck...!!
Regards
4H NZDUSD Elliott Wave CountLet's count waves.
Do you see the same potential upside for this pair?
I am a beginner in Elliott Wave Analysis and this is my sentiment.
The minor impulsive wave in RED has been completed and corrected via an ABC structure with 5-3-5 sub-waves.
The parallel lines connecting the end of wave B and the end of wave A usually forecast the end of wave C as shown.
Price is currently at a key level marked in the red rectangle which has shown to be resistance and in the past was support level.
Finally, the RSI indicator is currently at 31.20 as I type this and signifies that the price is oversold.
Comments, critiques, and anything else is accepted.
NZDCAD POSSIBLE SELL The price bounce from a downtrend and a resistance zone, broked a up counter trend, and right now is making a corrective structure on the 4H timeframe. to go short i would like to see a 4H candle close below mentioned zone (Red Zone)
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GBPAUD - ShortStrongly believe that the £ is going to have another major crash
Causes...
-Brexit (No Deal)
-Recession
NZDCHF - ShortMay take a while to set up but the overall bias is short, waiting for the corrective wave to finish and then waiting for a big short to the downside.
Two possible entry points, dont be surprised if its the 2nd one to catch people on the wrong side of the market
ORBEX: USDCAD Triangle Pattern More Likely Now!The USDCAD triangle pattern seems to be taking its final form, suggesting a marginal upside move before continuing longer to support the longer-term trend.
A successful test near the price/trendline intersection could offer a nice risk/reward medium-term opportunity.
Trade safe
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
BTC/USDT (4H) - Corrective wave scenarioHello Traders,
Big part of market starts to be really bullish. BUT there is still (too high to be considered) chance that we are still in (ABC) corrective wave of downtrend ...
If so, the next downward move could take us to double bottom or even below (6400).
Area 9.2-9.4K Will be very important to watch what kind of structure wil be formed by Bitcoin. ;)
PS: Of course I wish Bull market as well, but this must be considered.
Good luck
Bitcoin Has Lost Dominance, But Only TemporarilyHello traders! Today we will talk about Bitcoin, its dominance and ALTcoins.
For the beginning we want to point out that most of cryptocurrencies, even some of ALTs nicely and strongly recovered in the start of 2020, which can be easily a signal for the bottom and a reversal into a bullish mode again, but only against the USD pairs (XXX/USD).
However, as you can see, the major Crypto BTCUSD is not so strong. It's actually rising, but in a much slower pace than some of ALTs and that's what we are going to talk about today.
It's all about dominance in the Crypto market, sometimes BTC is the leader, sometimes ALTs and this can be clearly seen in the BTC dominance chart, which is telling us where XXX/BTC cross pairs can be headed, but of course not all of them. So, we want to to show you how this look like from Elliott Wave perspective.
In the first chart above we can see that BTC is losing dominance since September of 2019, but according to the EW corrective a-b-c structure, this may come to an end soon. We are tracking a regular flat correction in wave 4, so seems like the final move up for wave 5 is still missing.
If we take a look at the examples below, ETHBTC can be also trading in a corrective a-b-c-d-e triangle pattern, so once BTC dominance returns, and once it fully completes a bearish triangle, this is when we can expect a break into new lows for the final wave 5.
It's very similar with EOSBTC, the only difference is that EOS is currently stronger than ETH, which means that EOS made a bigger recovery against the BTC, but it also looks an a-b-c corrective rally in wave 4, especially because of a triangle in wave »b«, so don't be surprised if EOSBTC faces limited upside around the 0.00048 resistance area.
All what we want to say is that yes, most of Cryptos is turning bullish, but be very careful with cross pairs against the BTC (XXX/BTC), because most of these ones may not have reached the bottom yet, especially those which are still trading near the lows like ETHBTC and EOSBTC, while the other ones that made a bigger recovery, may just face a deeper corrective decline.
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.
Cable May Retest The 1.33 -1.34 Resistance AreaHello traders!
A quick Cable update, where we have noticed a corrective decline for the past few weeks.
Well, at the end of 2020, we have seen strong and impulsive push to the upside, clearly with five waves into a wave A and then, from the beginning of January of 2020, we can see a three-wave a-b-c decline, ideally for wave B, so seems like Cable may retest the 1.33 - 1.34 resistance area for wave C of (B)/(2) before a bearish continuation into wave (C)/(3).
Trade well!
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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.
