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Correctivestructure

Gold impulse down after finish of the 5 wave structure?Gold seems to have finished the 5 wave pattern which my other gold prediction covered. The five wave cycle has finished and has formed an A wave, is currently in the B wave and I am looking at any break of the short term trendline. This would confirm downside. I would not be surprised if the correction did retrace to the 50-61.8% of wave A before wave B finishes, however, it may break before. Clear impulse, correction and aiming to catch what should be the final impulse down before the up trend resumes. Watch to see if correction becomes more complex, if not, then simple set up for the down side with nice R:R. Once again, any feedback or advice is appreciated. Thanks.
FX_IDC:XAUUSD
by EamesAnalysis
GBPUSD zigzag?GBPUSD looks like it has finished the 3rd wave and has began correcting. I would expect price to climb to the 61.8 to 78.6 % fib retracement level finishing the B wave. I then would anticipate price to fall down the the 161.8% level of wave A. This would complete the first of possibly 3 corrections. If entering, I would wait for a larger/engulfing bullish candle/bar close at the end of wave B, take profit just before the -61.8 (conservative at -38.20%), and stops just past the 78.60%, unless price goes to that level then stops would be raised to the start of wave A. From here, I would be wary of upcoming interest rate changes for GBP pairs.
by EamesAnalysis
Things never been that clear End of correction and Breakout zoneThe image is now more clear than ever!!! The current channel we are at from the moment we started the current downtrend at February 20th, Soon will come to an End!!! Couple more days and we will start the breakout and the Uptrend possible stops 7600 ...small stop after 7k 7000 ...start of the possible breakout zone 5700 ...that's the lowest point btc can gets Remember April is the rise of BTC OR!!!!! it will be a long mess!!!
COINBASE:BTCUSDLong
by Eeboxiam
8
The correction is over, the correction is over! Ugh, Not so fastGreetings Earthlings... Everyone is so excited about this recent bounce and thinks BTC is headed to the moon!!! Ummm be careful who you take advice from (including me). There is both a Science and an Art to this trading thing but mostly Science. However, the Art comes in by using previous knowledge/events in history to forecast future outcomes often referred to as lagging indicators. Lets look at one here: Let's reach way down in our bag and see what we can pull out. Awww, look what we have here: The Nov 30, 2013 retracement. On this day BTC hit its all time high since BTC hit the marketplace (very similar to Dec 17, 2017). Lets look what happened next to the Nov 2013 retrace (1-5) and compare to the Dec 2017 retracement (A-E). 1) BTC had a 76% retracement that creating a very lengthy bear flag. A) BTC had a 70% retracement creating a very lengthy bear flag. 2) This bear flag, "if" it had corrected to its full potential on the follow-on breakout would have corrected to the full 87%. B) This bear flag, "if" it had corrected to its full potential on the follow-on breakout would have corrected to the full 75%. 3) The follow-on breakout was interrupted by an A-B-C correction in the Elliott Wave Sequence C) The follow-on breakout has "potentially" been interrupted by an A-B-C correction in the Elliott Wave Sequence 4) After the A-B-C correction, the price action corrected to its full potential of the preceding bear flag - 87% D) If an ABC correction ensues, will the A-B-C correction be followed by the full potential of the existing bear flag? (History usually repeats itself) 5) After nailing the bear flag to its full retracement potential, only then did the price action proceed to new all time high E) Therefore, odds are that today's BTC price will A-B-C correct and then follow on to new All time highs Happy Trading #FinstonesGazoo
BITFINEX:BTCUSD
by cblewis_78
LTCUSD: Litecoin Is Showing Bullish SetupHello traders! What a perfect bounce on Cryptos and also BITFINEX:LTCUSD ! As you know we were expected a three-wave A-B-C correction down to ideal 61,8% Fibo. retracement, which seems to be completed after perfectly reached our support projections. It's very important to look at correlations between cryptocurrencies and we talked a lot about that in past updates. So, after nice bounce, it's time for Bulls and after completed correction, we always look for a minimum three-wave recovery, until we see it's bullish confirmed and as you can see, it's already trading higher for wave c/iii, but for bullish confirmation we need something more! First evidence would be a break above channel resistance line, but we strongly suggest to wait for a break above 217 bullish confirmation level, which could lead into wave iii towards 230 level or maybe even higher into new highs above 252 level, so currently we remain bullish as long as it's trading above 158.5 level!
BITFINEX:LTCUSD
by ew-forecast
13
BITCOIN Hanging Over The Edge - There's a Long Way Down!Dear Friends! D4rkEnergY is back with another exciting update on Bitcoin. Let's just jump right in. We are now taking a look at the 4h BTCUSD Chart. Bitcoin seems to have run out of options. The drop seems inevitable now, and it's gonna take something like a miracle for this to have a bullish ending anytime soon. In the previous chart D4 illustrated how we were caught in a smaller bear flag inside a bigger bear flag. And D4 was indeed right, when he predicted, we would go further down. Few minutes ago we were squeezed into a descending triangle, with the downtrend line as huge resistance, and it was just a matter of time before we fell even lower. Let me also draw your attention to the bearish MACD-Cross. Let me be straight honest with you guys. We don't really see any bullish signs at the moment. Everything is pointing in the direction that we still need a bigger correction. D4 has counted the Elliot Waves for you. After the flat irregular ABC-correction we tried to restart a new EW-Cycle. But a failure stopped that quickly. We will now have an add-on to the corrective pattern. The next support level is around 8,200 USD, where we will see a smaller bounce. But it's very unlikely due to all the FUD lately that it's enough to make a real reversal. We will probably go gown to around 7,200-6,900 USD (which is equal to a 78,6 % retracement), where we once again will try to restart an Elliott Wave Cycle. At this moment, D4 will believes there is a 30 % chance that this scenario will succeed. If not we will go even lower and test the orange support level, which is around 6k, which give us an almost 100 % retracement. D4 fill follow up on this later. D4 loves you <3 Once again. I just want to say thanks to all of you guys for all the love and support you are giving me. I'm sorry that I cannot answer all my messages here on TradingView. Got more than 600 unanswered now :( I truly feel blessed though. Thank you so much - please give a BIG LIKE and FOLLOW <3
BITFINEX:BTCUSD
by D4rkEnergY
102
Waves 101: Basic wave characteristicsHi all, I would like you all to have a basic understanding of how waves (Elliot Waves essentially) feel like. Impulse waves (the 1, 3 and 5 you hear of quite often) are generally easier to "feel". See the chart for example. The fall from 11.7k to 8.3k was pretty easy to detect as a downtrend. There is little scope of confusion during these waves. Corrective waves on the other hand (the 2 and 4 waves and well, many different forms. Mind it, they are not just simple ABC waves as commonly believed) are pretty complex. They are generally combinations of different types of waves and create confusion of bullish/bearish nature on shorter tf. Here for example, we have been correction the impulse wave down and if you are active on the chat, you will see sentiment swing every few hours owing to the complex nature of the wave. Note: the impulse wave down can even be a part of corrective wave of a higher degree. Don't get confused here, just want everyone to know how to detect these waves.
BITFINEX:BTCUSDEducation
by RyanPal
Chf/JpyChf/Jpy is not always my favorite pair to trade. However it did make a flat which would make sense for it to pull up from this area after breaking the low within a 7 swing pattern... There are a couple different schools of thought of how you could go about looking at the overall pattern, but the concept is simple. I went over it briefly on weekly outlook stream... We don't have actual confirmation on trend reversal as of right now, it can extend down some more, all the yen pairs can, but show yen weakness emerging longer term. I will try and post updates on this pair.
Long
by thillygoosth
XMRUSD: Monero Still Looks Bullish After Three-Wave CorrectionHello traders, After spike down on Cryptos we took a look on some ALTcoins and saw interesting pattern on BITFINEX:XMRUSD . As you can see on daily logarithmic scale chart, Monero still looks bullish despite big correction since December 2017, so seems like five-wave rally is not completed yet. On 4hour chart we are tracking wave IV correction, which seems to be completed with potential double bottom pattern, ending diagonal into wave C and also very nice and strong support level around 150. So, we expect that Monero will continue it's uptrend into wave V towards 680 level, just keep in mind that Bulls will be confirmed only above 450 level! On hourly chart we are tracking five waves up into wave 1, which would confirm that bottom of wave IV at 150 level can be in place, so be aware of a three-wave pullback into wave 2 back to around 200-250 level, before continue higher. If Monero from any reason breaks below 150 strong support level, then we may adjust the view!
BITFINEX:XMRUSD
by ew-forecast
4
BTC to under 7kI won't ever say I'm an expert in Elliot Wave but this is my take. We are still in an abc correction and the second impulse wave heading down to the completion of the abc correction wave. Which should bring us down to around 7k before it completes. Now I know plenty of experts are saying otherwise and I respect that, we all see things differently, don't trade off this, just keep it in the back of your mind and we will see later how things went. Remember there will be lots of smaller waves on the way. Hope you guys have a good day trading, especially in this dark and gloomy market environment.
BITFINEX:BTCUSDEducation
by TroyByrne
3
ETHBTC Can Be In The Final Stages Of CorrectionBITTREX:ETHBTC looks pretty clear with five waves up from lows and regular 3-3-5 three-wave A-B-C correction. ETHBTC currently trading in wave (4) of C from where we expect another decline into wave (5) of C towards 0.070 psychological strong support level, where ETHBTC may come to the end of correction. Just keep in mind that we need impulsive five waves up from that projected support and break above 0.100 level to confirm bullish reversal!
by ew-forecast
12
LSKUSD: Intraday Impulsive Rise On LISKHello traders, we are here for you even on Saturday! Having a cup of coffee we are going through some Cryptos to see what's going on and we saw something interesting. Well, as you can see BTC went sharply higher while some ALTcoins stayed sideways and many traders started to speculate, that correction can be completed at this stage, but we are talking all the time that wave structures and patterns are the most important to recognize direction! And as you can see, wave structures are very sharp and impulsive, so we cannot say yet that Cryptos will go down here, especially when we take a look on BITTREX:LSKBTC , which has clearly bullish pattern for much higher levels towards 58 level, especially because it's bullish confirmed with broken channel resistance line. Actually, LISK is not a leading cryptocurrency, but based on structures and targets on other cryptocurrencies, we think that Cryptos is not going to stop just like that and we don't expect any significant decline, so we think that rally will continue and any short decline will be just a temporary pullback within uptrend!
LLong
by ew-forecast
9