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Correctivestructure

EURCAD Analysis Welcome back! Here's an analysis of this pair! **EURCAD - listen to video analysis. We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
6
The Inevitable ..BTC at the very least visits 36K I'm going to keep this brief. I've been one of many traders calling yelling at the top of the soap box that were are currently in a correction and that the recent move up above 40k was a classic bear trap. I have many reasons as to why we will see at least 36k. To keep it brief not only did I confirm with Elliot waves, but all technical indicators point toward a further downward move from where we are now. According to Elliot wave were are headed for a five wave move to the downside. The last leg can end at the .618, 1, or 1.618. The last wave, wave 5 ends at 1, which aligns with the price range of 35-36k. The 1.1618 aligns with the price range of 30-31k. There is a possibility that we visit 30k, but I'm more confident of wave 5 ending around 35-36k before we rally back upward. The last line of defense for the bulls is exactly 39k. We will most likely breach that range soon and should see 35-36k in no time. Also, Check out bitfinex. Look at how many longs have been piled up since jan.27th. The bears are letting longs pile up, and will look to drop the price to liquidate them, huge rug pull. My fellow Trader Mr.X on twitter pointed this out, I give him all the credit...because I didn't notice it. All signs point to a downward move. Plan according, remember this is a great opportunity to buy your alts cheap!
BITSTAMP:BTCUSDShort
by Nick.TkgProfits
SPX (2022-02-11 Triangle)As the trading week progresses, we have a triangle on the daily forming 1) CPI news Cause: sell-off Effect: gap-fill at market open 2) Bullard Hawkish Remark Cause: bullish structure has been broken at 4553 Effect: market will need to find a base at C Key characteristics of triangle: Declining volume Personally, I took a short Entry: 4545 Stoploss: 4555 Final Target: 4495 In such fast-moving markets, there ain't no bears/bulls and we really got to be very very nimble.
OANDA:SPX500USD
by goderictia
2
While DAX Is Ending Consolidation, EURUSD Is Nearing SupportHello traders and investors! Today we will talk about DAX and its positive correlation with EURUSD, as we see them approaching some interesting support levels. Since March 2020, we can see DAX and EURUSD moving together most of the time, the only difference is that stocks are much stronger, however, as soon as we see stocks slowing down, even EURUSD comes lower. What we currently see is that DAX is still in sideways consolidation and this is why EURUSD is coming down, but once DAX completes its corrective pattern within wave IV and starts rising into a wave V, then we can expect EURUSD to stabilize again, so be aware of limited downside for the EURUSD here around 1.11 - 1.10 area. Trade well! If you like what we do, then please like and share our idea. 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.
EUREX:FDAX1!
by ew-forecast
9
Corrective Price Action In GoldGold similar to oil conitnues to drag its feet and move in an ascending (bearish) pattern by making higher highs and then correct strongly downward. This zigzagging price action OFTEN indicates WEAKNESS. Gold is ALWAYS mistaken to be a safe haven when times are tough for the general markets. Well this is NOT the case and has not been for most of its modern history. I believe this misrepresentation of gold comes from the price action of the 1929 crash where gold I believe did move contrary to stocks at times. BUT it does not concern us what happend 90 years ago! Gold prices I believe were fixed back then and so its outcome had to have been different. What does concern us is what happened in 2008 where gold fell just like any other asset. And this continues to inspire confidence that this will NOT BE THE DEFENSIVE ASSET EVERYONE ELSE THINKS GOLD IS! It is an asset just like oil or stocks. And in hard times it too will fall. The price action here reminds us that this will likely be the case and sooner than later. For now we remain neutral and wait for further confirmation before well sell gold.
COMEX:GC1!
by Sinex
1
BTCUSD Quick LongThe bears has driven the BTC market down into it's core gearing up for a soon bullish market. As we wait for a level of support or a downtrend continuation, we can monitor levels of correction to see if there is a possible trend change. A quick bullish correction could be happening. Looking to exit with A TP around 40K. This is NOT financial advice and always remember to invest wisely. Follow and like my ideas to receive updates here of my latest ideas on TradingView.
BITSTAMP:BTCUSDLong
by mydailyprofits
1
Difference between ABC and WXY Elliott Corrective WavesElliott Wave Principle , developed by Ralph Nelson Elliott, proposes that the seemingly chaotic behaviour of the different financial markets isn’t actually chaotic. In fact the markets moves in predictable, repetitive cycles or waves and can be measured and forecast using Fibonacci numbers. Elliott wave predicts that the prices of the traded financial instrument will evolve in waves: five impulsive waves and three corrective waves. This educational article aims to present only the difference between ABC and WXY corrective waves and will not cover other wave paterns (triangle corrective waves , or any of the impulsive (motive) wave structures) Both ABC and WXY corrective waves are patterns made of 3 waves (swings) corrective structure and this similarity mostly confuses practitioners while labeling. The main difference between the two is in the internal subdivision of the waves (legs) Each pattern has its own rules, where ABC could be - a ZigZag patern that have 5-3-5 internal stracture - a Flat (Regular, Running or Expanded Flat) patern that have 3-3-5 internal stracture while WXY patern is made of 3-3-3 internal stracture. WXY is combination of two corrective patterns , hence often called as a double three or a double correction. Each wave W, X or Y could have almost any corrective structures (double three, triple three, zigzag, flat, triangle (wave W can’t be a triangle structure), or any complex combinations) WXY is also know as 7 swing stracture even it is made of 3-3-3 internal swings, the X-wave is considered as a connector wave because it binds two corrective waves and is counted as 1, W and Y waves are counted as 3 and hence 7 swings WXYXZ is combination of three corrective patterns, hence often called as a triple three, a triple correction or 11 swing, WXY rules applies also for WXYXZ Tips : An elliott wave practitioner in general may assume a trend continuation once an ABC correction is completed. In todays market complex corrections are more common than simple corrections, the markets are in a correction phase nearly %70-%80 of the time. Hence, once an ABC correction is completed a trend continuation failure must be considered in the trading plan and in fact, this failure is the main characteristic of the X-wave, a trend that has failed. Once X wave is completed another corrective structures is to be expected live examples (not financial advice, just experimental analysis) GOLD BTC Below is a link to Elliott Wave Oscillator study, where the "EWO with Signals" indicator helps traders to track the waves (in lower degrees). It provides insight to traders to observe when an existing wave ends and when a new one begins
Education
by dgtrd
43
Elliott Wave Analysis: Cable Is Back To Bullish ModeHello traders! Today we will talk about Cable (GBPUSD) in which we see quite clear bullish development from Elliott Wave perspective. As you can see, Cable made only a three-wave A-B-C decline since June 2021 highs, nicely connected within channel range and with equality measurement of waves A=C. It clearly indicates for a higher degree wave IV correction, especially after recent sharp and impulsive reversal from 1.3160 lows and back above channel resistance line that confirms lows is in place. So generally speaking, we remain bullish on GBPUSD while the price is above 1.3160 invalidation level, especially if breaks above 1.3850 region, just be aware of short-term pullbacks before a continuation higher, because US dollar index is still looking higher. Trade well! If you like what we do, then please like and share our idea. 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.
Long
by ew-forecast
5
WABI/BTC Analyze !!! Hi, today I want to talk about one of the old Tokens of the market that has been in its five descending waves for a long time. maybe you can think about invest on it. The name of the token is 👉 Wabi 👈 Wabi Analyze ( WABIBTC ) Timeframe 2D ⏰ Location🌊 : Fortunately, Wabi was able to finish 5 descending waves at 0.00000929BTC , then it started to run on Big falling wedge & Descending Channel + started corrective structure by wave A that it had a Double Three corrective structure (W-X-Y) . after wave A , it started to go down to the lower line of our Big falling Wedge , and at the same time, it finished Wave B (Structure of Wave B is ZigZag ). The corrective structure of Wabi is Flat (3-3-5) , so we saw five impulsive microwaves (Wave C ) that ended on the upper line of our Big falling Wedge . I was able to find another Small falling wedge inside on Big ones, it can be a key pattern for changing downtrend. Price was able to break the Small falling wedge and Wabi started the new journey . I think that Wabi can break Big falling Wedge too(soon) or it will rest on our Big falling wedge . Resistance zone on Wabi's way : 0.00001843 BTC until 0.00001752BTC Support zone on Wabi's way : 0.00000378 BTC until 0.00000237 BTC Wabi Analyze ( WABIBTC ) Timeframe 4h ⏰ Location 🌊: as I said, Wabi was able to break a Small falling wedge and I tried to count waves after this happens. please pay attention to my analysis 👇https://www.tradingview.com/x/IGE2bc0P/ Wabi is on microwave C of main wave 4 . End of the main wave 4 : 0.00000478 BTC - 0.0000046 BTC + TRZ ( Time Reversal Zone ), after that Wabi can start the main wave 5 or price can rest at time⏰ between 0.00000518 BTC until 0.0000046 BTC . My Suggestion : if you want to have Wabi on your Portfolio , you can take it around 0.00000518 BTC until 0.0000046 BTC . // 🎯Target 🎯for end of August == 0.00000518 BTC until 0.0000046 BTC ( 0.00000478 BTC - 0.0000046 BTC (more possible))// Highest price of August Will 0.00000584 BTC . Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅ ' like' ✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
W
by pejman_zwin
37
BTCUSD - Impulse or ascending corrective channel. Uptrend Hello traders and investors, In today analysis we focus on the last couple of waves in BTC. Regardless if we are observing impulse of ascending correction, as far as I am concerned the trend is up. As far as this chart is labelled, as much as I would like to see the uptrend resumed after the July low, at the moment I am not too sure that we can say so. The vertical line on the chart 0.382 and 1 define the Fibonacci Time spent in "wave 4" compared to "wave 2", so if wave 4 completed in July, it means that it spent 38.2% of the time to complete wave 2. Is this possible? I doubt it, but this market is pushing for a new all-time high every day. Let's keep our fingers crossed that we are not in a gigantic running triangle(hence Wave B above the prev. all-time high). I link the long term analysis with the wave count on weekly/monthly. As usual, I can be wrong, but I don't really care because I keep them as long term investments. Hope you all make money 😊
COINBASE:BTCUSDLong
by Dry-Storm
Elliott Wave Analysis: LITECOIN Bears Are BackHello Crypto traders! Today we will talk about Litecoin (LTCUSD), its price action from technical point of view and wave structure from Elliott Wave perspective. LTCUSD sharply declined in May, which we see it as part of a leading diagonal in wave A, but it can be also counted as a five-wave impulse from the highs. Anyway, the most important is recent recovery from July's lows, which we see it as an (A)-(B)-(C) correction within wave B that has stopped exactly at golden 61,8% Fibonacci retracement, which is actually ideal resistance. Well, if we respect current sharp decline, seems like wave B correction is completed and wave C already underway, which can send the price back to July lows and below 100 level before bulls potentially show up again, so carefully now at the end of the year. Be humble and trade smart! If you like what we do, then please like and share our idea! 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.
BITFINEX:LTCUSDShort
by ew-forecast
1
USDCHF Analysis - Wait for Downward Continuation Welcome back! Here's an analysis of this pair! COMMENT BELOW and let us know your thoughts or questions! ** We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
Correction in progress? Expect secondary sell soon!Last pullback in 5-10 Nov gave an S-curve 'ABC' with two down legs, time from first sell to completion: 5 bars; would paint NLT 11/26. Got a nice retracement in late trade Tues, from oversold on first leg down; expect lower Weds EOD. Tues PM rally typical of bear reactions. First support held at 4660 11/23; break below will signal measured move lower. An S-curve projection ends in the target box ~4620. Purely speculative guesswork shown projecting an H&S pattern may emerge? Tops are complex structures and this one is devilish. If the top is in from 11/18 parabolic peak, expect sell to next support ~4535 box; a right shoulder may emerge. Whether a new ATH might print afterwards remains TBD. NB: Many contributors suggesting 'BTD' with new ATH to print soon; not ruling this out, if a Three Drives pattern were to emerge. Keep a close eye on this and be real careful holding calls in here... could be a nasty surprise IMO. DYODD; not financial advice! GLTA!
TVC:SPXShort
by DaddySawbucks
10
GBPNZD Analysis - Corrective Structure in Progress Welcome back! Here's an analysis of this pair! COMMENT BELOW and let us know your thoughts or questions! ** We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
by BKTradingAcademy
4