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Correctivestructure

BTC/USD Bitcoin ZigZag Correction Elliot Wave Forecast 5 3 5 Hello Trading Maniacs! Bitcoin is having a ZigZag Correction as you can see on the chart! This is a 5-3-5 structure in a Bull Market. We are now in wave (B) of the zigzag which is an abc pattern. This fairly weak correction will take us to the 50 fib. Seen on the chart as a the end of wave c. From that point we will go to minor wave 3 with 5 waves to the upside. The strongest wave so I expect a good bull run. I will update daily for price predictions.. Because for now this is impossible because we need to see if this correction does what is expected. You can use Elliot Waves on any timeframe, just zoom in and you will be amazed :) Happy Trading Trading is at your own risk, dont blame the messenger.
COINBASE:BTCUSD
by WhatsThatCrypTom
1
BITCOIN CASH Bounced; Bullish Reversal Is HereBITFINEX:BCHUSD lost around 80%, but decline looks like correction within uptrend. Why? Well, there are many factors. If you take a look on weekly chart, you can clearly count five waves up from lows, which means we are in a bullish trend. When BCH hit 4000 at the end of December into wave (V), there was a sharp drop and correction has barely started, because typicaly in EW theory after every five wave impulse, a three wave retracement is required. After sharp drop into wave (A), there was corrective move into wave (B) and then slow falling range within ending diagonal pattern (reversal pattern) into wave (C). BCH hit our expected target and important support at previous wave (IV), mentioned many times and highlighted in previous updates! So, currently BCH bounced nicely within 5 subwaves into wave i/a, which is another sign that correction can be completed. But we have to be careful, so first, we have to respect the market and look for minimum expectations, we are expecting minimum three waves up A-B-C or 1-2-3. If BCH after only three-waves up sharply drops, then this will be only a correction, but if goes up with five waves and break above 1790 bullish confirmation level, then BCH can be in bullish trend again and can be on the way up to a new all-time highs!
B
by ew-forecast
10
LITECOIN Can Be Underway Below 100On BITFINEX:LTCUSD we can see sharp decline into wave (a) and then slow sideways corrective move into wave (b) back to ideal 61,8% Fibonacci retracement. Current drop from wave (b) resistance looks like motive wave, which should be completed within five waves into wave (c) and as you can see, there is still room for more weakness towards 95-80 support zone, especially according to correlations with other cryptocurrencies, where we also see room for lower levels.
BITFINEX:LTCUSD
by ew-forecast
6
USD/JPY buyThey wouldn't let me post anymore last night, I hope someone watched my video and got a perfect entry on UJ buy. This is a long term buy. Very long term. I am stop in profit with some other small swings stops not in profit and will continue trading UJ until I get one to ride for the long haul. It did a classic 7 swing and came off the 618/382 fib (seperate time frames) off trend line and in the middle of my 7 swing buy zone... Understand it can extend down more and this reversal could take months possibly but as of right now it is a buy. But if it will be the trade it certainly looks to me like it wil be I would be surprised if they didn't do a correction to take anyone out.
Long
by thillygoosth
USD/CHF possible sell setupI could care less about trading beginning of week. Just want to point out Uchf looks corrective, I mentioned I took profit on buy last week. Looks to be making a flag that will probably extend up more , but I would expect further correction down if UCHF was to continue up more. Might get some structure extending down giving a sell scalp and a buy setup, maybe it breaks the low. I personally will looking to midweek to pounce on this market. I took profit on UMEX buy last week also because these USD pairs were looking corrective. UCAD will probably be choppy up and down but will be a nice buy setup whenever it finishes correcting.
by thillygoosth
AUDUSD corrective structure possible?Hello traders! AUDUSD at this moment is on the TOP of the daily channel! We are in a powerful UP trend now. In order to continue the UP move, we need to see a corrective structure first, and a slow pullback up to 38.20% fib. A trend reversal will be possible at this level only if we get a strong down impuls, based on the DXY strength. Don't jump into the first red candle, first wait for a corrective structure before entering short. Follow me for future updates. TRADE WITH NO EMOTIONS!
by IQ
Chf/Jpy sell updateCHF/JPY is normally a pair to just stay the hack away from, But when I see a gartley, a pitchfork, and the 200 MA on weekly all converging, you have my attention. Especially when it made a corrective move up to it within the range of a possible larger corrective pattern with potential of breaking the low. Could have already taken some nice pips off the table on this one a couple times since I posted it. But you have to understand that harmonic patterns can expand, and MA's and pitchforks are meant to be broken. There is divergence, but I also see the possibility of some room up on higher time frames as far as overbought is concerned, but the divergence can throw that off, I'm all about patterns and price action. Maybe we get it, maybe we don't. Maybe we get a huge wick on weekly, so you have to know how to enter and manage a trade to profit and protect your investment. I would have liked to have seen a more confirmative looking 5 wave on this leg up on 4 hr for purpose of overall potential pattern on the daily/weekly. Regardless looking strong for a longer term sell. I am going to do a weekly outlook video so I will stop posting to save for the better overall week setups... beforehand. Beforehand is always better right? Be careful guys, NFP week so going for swings early in the week can be fairly fruitless, but finally gonna get some real news drivers starting to happen, so be ready.
Short
by thillygoosth
EUR/CHF sell updateEchf came to my first take profit which is the pitchfork at 1.618 extension of wave 1. If you did sell this breakout nice. TP half and slide stop loss on rest to 50% of this wave. It can continue to just drive down, but if you see a corrective pattern like I have marked up (about) 38% of wave look to sell again to top of diagonal where I have marked. If it breaks fork and extends this wave past the fib extension it just rejected, then that should better better confirmation that we have a downtrend in place. Hopefully it corrects and gives another sell entry. It is possible it reaches top of fork one more time, but I will not buy this unless it actually confirms an uptrend... That was a LONG consolidation it broke out of. Want to learn something about corrective patterns watch my echf video. Hopefully you saw the EJ sell setup this morning and you caught chf/jpy sell. I couldn't post earlier.
by thillygoosth
BITCOIN Did Not Bottom, YetAs expected BTCUSD fell down into wave (c) a third leg of decline that we have been talking about a lot in our past updates. Wave (c) is a motive wave, so it must be made by five subwaves before we may even consider that correction is finished. Well, if we take a look at current price move on BTCUSD we see very slow structure, thus it’s probably just a wave 4 within still ongoing wave (c). So, sooner or later we expect new decline into wave 5 of (c), where final support zone can be between 8700 level for (A)=(C) and 6800 level towards channel support line and 161,8% Fibo. extension of wave 4.
BITSTAMP:BTCUSD
by ew-forecast
65
SiaCoin Has Clear Bullish StructureWe are looking at really nice and clear structure on SiaCoin against BTC. We are tracking wave 4 correction, because of perfect 261,8% Fibo. extension of wave 1, which is ideal for impulsive wave 3. From January 06, we can see slow sideways move within three waves w-x-y down, back to ideal 38,2% Fibo. retracement and also test of channel resistance line. BITTREX:SCBTC actually found perfect support at psychological level 0.000004 for wave 4, so we expect more upside in coming days into wave 5 towards 0.000008-0.000009 levels. If from any reason drops below 0.00000278 invalidation level, then we may adjust the view.
Long
by ew-forecast
4
Bitcoin Cash Breaking Bearish TriangleBITFINEX:BCHUSD is breaking triangle support line, which confirms our bearish view and seems like Bitcoin Cash may go beneath 1000 level in coming days/weeks. We can see a sharp decline on 20th December into wave (a) and then slow sideways move within triangle into wave (b), so wave (c) is on the move now and this is a three-wave decline that we expected. The question is how much it will drop, we see a support zone between 800 and 1000 levels.
BShort
by ew-forecast
21