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Correctivestructure

Bidvest Correction Is Not Complete YetFounded by entrepreneur Brian Joffe in South Africa in 1988, Bidvest Group Limited is a well known international trading, services and distribution company which first listed shares for sale on the Johannesburg Stock Exchange (JSE) in 1990. The group either owns or has significant holdings in about 300 companies, with a portfolio of assets that spans five continents and an employee complement of just over 141 000 people worldwide. Technicals I don't believe that the full correction has completed as yet and expect to see a 61.8% Fib retracement from the low before there will be another wave to the downside. This correction will likely end after 3 waves but the possibility of 5 does exist. Once the correction is complete, there are very large targets to the upside.
JSE:BVTShort
by Linton_White
USDCAD buysetup!Hello traders, USDCAD made a very strong up impulse and broke the trendline. As you can see USDCAD is making correction above the trendline. There is high probability chance for breaking the top again and this is the reason why i'm looking for buy on this pair. I'm expecting completion of the bigger daily running flat. Wait for complete correction and then take the breakout. BONUS: When it breaks the structure and if it goes slowly put your trade at BE! Make the bank rolls! :D $$$$ ;) If you like what i do click that like & follow button. Likes and followers motivate me to spend my free time posting content for you! Thank you for your support! All the best, Antonio Daily view
Long
by AntonioM
EW ANALYSIS: EURNZD In A Big Three-Wave Corrective RallyHello traders! Today we will talk about EURNZD which has pretty clear pattern. When using the EW, everyone can count up to five, but only few analysts have the right approach and this experience can only be gained through multi-year practice. Well, looking at EURNZD, we can clearly see a big impulsive five-wave drop away from 1.7930 highs into a wave A, which means that the trend is currently bearish, but before a bearish continuation, EURNZD must first finish a big three-wave a-b-c corrective rally in wave B that can find resistance ideally around 61,8% Fibonacci retracement and around 1.73 – 1.74 levels! That said, we believe that wave c/B is still missing, which should be made by five waves, so don't be surprised if EURNZD starts to rise sharply in the next few days/weeks. But, you know where is the limit and till then, there's room for 600-700 pips, so maybe would be nice to catch some longs since we have seen a sharp bounce in the last couple of days that can be the beginning of a five-wave rally for wave c/B! Remember, the major trend remains bearish as long as the price trading below 1.7930 highs! We are currently just observing a bigger correction which may become even more complex, so any earlier sharp decline back to 1.6330 lows would be an indication that correction could be already completed! 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.
Education
by ew-forecast
EW ANALYSIS: Ethereum Just Finished An Expanded Flat CorrectionHello Crypto lovers! Let's talk about Ethereum! Well, just like Bitcoin, even Ethereum made sharp and impulsive five-wave rally at the end of December in 2018. And such sharp legs usually indicate a reversal, at least for a bigger correction of a higher degree! So, after that impulsive leg A/1, ETHUSD dropped into a wave B/2 correction, which we see it as a big expanded(irregular) flat pattern! Flat corrections are made by three legs into wave "a", three legs into a wave "b" and motive wave "c" should be completed by five waves. And, as you can see, Ethereum made a clear 3-3-5 expanded flat correction back to ideal 61,8% - 78,6% Fibonacci retracement and 100 support area! That said, we believe that Ethereum can be ending a big a-b-c expanded flat correction here in wave B/2, from where we should see a bounce back to highs for a wave C/3. So, if ETH turns sharply back above 120 region, then we may start considering bullish scenarios. However, ETHUSD may go even more complex here, so as long as it's moving above 80 invalidation area, we will remain bullish! 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.
BITSTAMP:ETHUSDEducation
by ew-forecast
16
US 30: Valentine's Day Massacre?All the good news is out. Prices pierced and fell back to TL. Price at 0.62 Fibo now. Sand P also at Fibo just a hair above 2700. Bear flag flying at tip of pennant. Can it get higher? Of course! 'Pumptards' are capable of infinitely irrational behavior. But will it? That is the question, to be or not to be more! IMO not to be more. Just an idea; the .62 Fibo retrace on this flag is down at 23K for Dow, that's 2K under current price. Would be a pretty penny if it sells to Fibo. Lotta folks calling for a 'crash' but I reckon an 'M' correction is more likely, the 'C' leg on that would be pretty steep, down at 1.62 Fibo brings 30 under 20K. Notice the expanding 'megaphone' corrective structure- ominous, wide open to lower prices. Expect a double bottom with a steeper drop on the secondary correction after the 'Christmas Crash.' Has been trending up for 40 days, as of Groundhog day on Feb 02 (Candlemas!). Timeframe for next leg on correction, based on comps from 1987, 2001 selloffs, is about 80 days from bottom-to-bottom: which puts the next low in late March/early April. Then expect super bully in late April into May before a June swoon. Just guessing. As always, this isn't even remotely anything like advice, just a crackpot harebrained idea. Trade at your own risk and consult a certified investment advisor please!
DJ:DJIShort
by DaddySawbucks
14
EW ANALYSIS: GBPCAD Has Just Started A Three-Wave CorrectionHello traders! We see quite clear and interesting pattern on GBPCAD. Looking at the daily chart, we can see a clear A-B-C corrective structure with a triangle in wave B, especially after that sharp and impulsive decline and this is the first reason why we are bearish. Looking at the hourly chart, we can see a five-wave drop away from that C at 1.7500 level, which confirms more weakness, but after a three-wave a-b-c corrective recovery, ideally back to a previous wave »ii« resistance area around 50% - 61,8% Fibonacci retracement and between 1.7080 – 1.7150 levels, maybe even 1.7200. In case if goes even higher or more complex, we remain bearish as long as it's trading below 1.7500 highs! 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.
by ew-forecast
Discovery Correction With Big TargetsDiscovery Ltd. is listed on the Johannesburg Stock Exchange and is an integrated financial services organisation, specialising in health insurance, life assurance, wellness, investments, savings products, short-term insurance and credit card products. Technicals The corrective structure indicated above has targets of between 19000 and 21000 which is a long way up. We are in wave 3 of a possible 5 of the correction. I will be looking for wave 3 to break the low of wave 1 before looking for reversal signs to enter the long. Happy trading! Linton
JSE:DSYLong
by Linton_White
S&P500 Short-Term Break Down ExpectedAfter a strong impulsive move down on the SP500, price has been moving in a very corrective nature back to the upside forming a rising wedge heading right into significant resistance. Due to the nature of the price action I am anticipating price to break back down for a nice short term opportunity short. If you'd like to be in the loop on even more stellar setups just like this one including how our free community took advantage of a 1,700+ PIP MOVE that was posted in advance join our Free & Friendly Telegram Channel @ t.me #PriceActionIsKing! Trade with care my friends! :)
SP:SPXShort
by PriceActionNation
This is a bullish confirmation structure on GoldI am expecting far more upside on Gold on the larger time frames and will use the H1 and H4 time frames for trade entries. I expect to see a corrective structure as indicated on this chart to form and will be looking to trade the long from the start of wave 4. There are of course reversal signs that I will look for before entering the trade. For more details on my exact entry, take profit and stop loss levels, contact me via the info in my signature below. Happy trading! Linton
FX_IDC:XAUUSDLong
by Linton_White
US 30 in ABC correction: A Bull Trap; expect Lower soon!Wow what an amazing jump! Does it mean the bears are back in hibernation? Doubtful. Boxing Day's record 1k rally was just an impressive a-leg of an a-b-c minor correction after a punishing 3rd Intermediate wave in the current bear wave. Trend is still Bear! Note in chart the abc pattern extension to 0.50 Fibo coincides with the 0.618 Fib retracement of the intermediate wave, thus a strong double wave effect will likely terminate the countertrend positive corrective wave (4) near 23,300. (Marked by Pincher arrows) Wave 4 may not rise above wave 1, which terminated at 23824, this yields a cap on 4th wave rally. Wave 5 will be stunning and terrifying. Bulls that thought it was all over will panic and despair. Traders who short puts will be wiped out. An estimate of termination for Primary Wave 5 from Fib extensions yields Dow 19072 at the 1.618 extension. An extension lower is certainly possible. The Fib spiral for intermediate Wave (3) reveals expected floor for (5) at 20542, for a 1.272 extension, and also curtails the subsequent, expected 4th Primary Wave rally to near 22700, at Fib time projection near 19-21 Feb 2019. Do not be long in this market! Do not start selling puts for income! I wouldn't sell either puts OR calls short in this market, odds are you will get scared into big losses on both sides. Be patient; be careful! Stay away and save trading capital if in doubt. Risk:Reward very poor right now, risk very high, reward likely low. As always, this post for education and amusement only and does not constitute investment advice; trade at your own risk! GLTA!
DJ:DJIShort
by DaddySawbucks
6
SBK Corrective Structure - Effort To BreakStandard Bank Group Ltd. is the ultimate holding company for the group’s interests and is a leading African financial services group with South African roots. The group is South Africa’s largest banking group by assets and currently operates in 20 countries in sub-Saharan Africa. Their strategic position enables them to connect Africa to other selected emerging markets and pools of capital in developed markets. Technicals Weekly: A predominant uptrend on SBK has been evident for a few decades now although there have been a few significant pullbacks. The current structure formation leads me to believe that we are in a large correction at this point in time. I expect some recovery soon and then will be looking for wave 3 of the correction to the downside. I expect this wave to complete on the support of the underlying trend where I will be looking for a reversal to enter the long. Daily: There has been a break of the downward trendline but I am not convinced of the reversal as yet. I will wait for a confirmation structure on a smaller time frame before entering the long for wave 2 on the weekly time frame.
JSE:SBKLong
by Linton_White
ETHUSD Intra-day Update - Elliott wave AnalysisHello traders! We think that the Crypto market didn't find the bottom yet. BITSTAMP:ETHUSD Ethereum is bearish just like Bitcoin because we see them in a perfect correlation. As expected, it has perfectly hit our projected resistance area around 120 area for wave 4, from where we may see another decline towards new lows for wave 5. If we are right, then ETH has room for 90-80 area! Only if we are surprised by an impulsive bullish continuation back above 180 region, only then we may consider a bullish reversal! Trade well!
BITSTAMP:ETHUSD
by ew-forecast
2