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Correctivewave

break down or rebound at support zone?Will this be a C wave going down and make 1:1 with the A. or we are done correcting and going to start the next impulse? We are about to enter support zone, if we break it, I think we will head to 0.9 fib to 1.0fib (2460.19 - 2434.15) Since this is possibly the last corrective wave down, I am thinking, this can be either a Wave C within the ABC of Wave 2 Or we are in sub wave 5th within Wave C, if we zoom out to let say 12hr chart. Conclusion: breaking below 2513 is my bear case (4 HR chart) 1st Bull case would be break 2698 and 100 SMA 2nd Bull case for a decent bull run would be break 2786 with potential rejection at 200 SMA (4HR Chart). What do you guys think? Please share your thoughts.
by polarity
1
#GBPUSD begining of a 3wave corrective moveAs can be seen, the price appears to be completing a 5th wave of 5, indicating the end of a bullish impulsive move that reached the upper channel line. Now, we could expect a bearish move in the form of an ABC correction or a reversal. To open a position, we should wait for a bullish corrective move, which could be either wave B or 2, and then try to catch wave C or 3. Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Short
by mohemati
#oil bearish outlookIt seems like the price has formed a 5-wave bullish impulsive move and could now begin its bearish move. For the bearish move to be confirmed, we need to see the price breaking below the bullish channel line and also closing below the VWAP. Bearish confirmations: Bearish divergence in the 4H timeframe. Completion of the 5-wave bullish impulsive move. Momentum oscillator in overbought (OB) territory. If you’ve found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
CAPITALCOM:OIL_CRUDEShort
by mohemati
Bitcoin Corrective Wave MetricsAnalysis of long-term corrective waves from ATH's of different historic periods Facts: The drop of 93.75% back in 2011 was the biggest correction of all time. With time the corrections after new established ATH's got gradually smaller. I'll use fibonacci retracement to measure those heavy drops as ATH - 1 and bottom as 0 to document how measurements of historic drops could define levels of forthcoming waves. -93.75% capture: 2.272 made next ATH of 2013 1.618 defined the 2015 bottom Similarly, -86.96% fib measurement defined: Next ATH of 2017 at between 2.272 and 2.414 Level of 1.414 called the bottom -84.22% drop: This time 1.618 called ATH of 2021 Level between 1 and 0.786 made 2022 bottom Logistic curve partially explains why forthcoming bottoms got close to the previous ATHs The question is, could that be a sign of already saturated market which would cause btc to sidetrend making a long-term diamond pattern. Despite of Bitcoin being deflationary asset, the rate of growth has been slowing down, as the % of bullrun waves got smaller. Knowing about positive correlation BTC and SP500, we can deduce that BTC wouldn't have grown if not for SP500. This dependence would be a venerability for Bitcoin, if AMEX:SPY drops in the nearest future. Nevertheless, many authors in TradingView are optimistic about further growth. The fact that current price still holds at previous ATH levels, could indicate that crowd could be actually right. So to estimate where it would stop, I'll use most frequent fib levels which defined both next bottoms and ATH's. Levels are: 1.272, 1.414, 1.618 and 2.272
INDEX:BTCUSD
by fract
5
EURUSD in Intraday Correction Phase, Bullish on the SwingEURUSD 4h ABC corrective wave AS EURUSD is in Bullish Trend, this a counter trend trade with loss Risk: Reward. This trade will be not valid if the price action breaks the 1.1010 and close. SL @ 1.10105 Entry @ 1.0960 TP 1 @ 1.0852 TP2 @ 1.0820 Note: This analysis is for the educational purpose. Note: Trading is the subject to market risk. Always trade with the tight Risk management to stay the long run. Safe Trading, Happy Trading.
Short
by JagadishSinghR
#USDCHF possible bullish scenarioPrice is currently testing the lower boundary of a daily bearish channel , the 1 FIB extension level , and a long-term support area . This supportive cluster could potentially lead to the formation of a low around this price level. On the other hand, the bearish move in price appears to be a corrective bearish ABC move , correcting approximately 61.8% to 78.6% from the previous bullish move. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
Long
by mohemati
12
EUR/USD ahead of NFPThe EUR/USD pair is facing challenges in capitalizing on the slight rebound from the level of 1.07566 observed the previous day. Despite remaining below the 1.0800 threshold as the European session approaches, there is a lack of sustained selling pressure. Traders are eagerly anticipating the release of the highly anticipated US monthly employment data. As the market eagerly awaits the Nonfarm Payrolls (NFP) report, there is a collective interest in gaining insights into whether the historically tight labor market is showing signs of loosening. This would reaffirm the dovish expectations regarding the Federal Reserve (Fed). Presently, market participants are increasingly convinced that the US central bank has concluded its policy-tightening efforts, with a growing inclination toward pricing in a 25 basis points rate cut as soon as March 2024. Consequently, the forthcoming vital data will play a pivotal role in shaping the Fed's policy outlook, subsequently influencing the demand for the USD and potentially providing significant momentum to the EUR/USD pair.
Long
by ekesam
#USDCNY long term selling opportunityPrice in Daily timeframe seems like to complete 5 wave bullish move and also we can see bearish standard divergence between price and MACD which is a very good signal for pinpointing the top. But the important thing to remember before taking position is to see market structure shifting to the downside with forming a lower high or creating a new low which at the moment non of this signals has been given by the price. So its best to wait for the price to confirm the bearish signals its giving to us before jumping to trade. Please also look at the other analysis in the weekly timeframe that I have posted for higher time frame confirmations which is also tagged.
Short
by mohemati
1
USDCAD Elliott Wave: Anticipating Downward CorrectionThe USDCAD currency pair has recently exhibited a noticeable five-wave impulsive upward movement. This analysis suggests that wave 5 of this impulsive move has concluded at the level of 1.3791 . Consequently, I'm anticipating a corrective ABC wave pattern to the downside. At present, my analysis indicates the potential for the support level at 1.36892 to be breached, serving as confirmation of the downward movement. A conservative approach would involve entering a position upon the retest of this support level once it has been breached. It is important to exercise caution with respect to this pair, as it may experience increased volatility due to the release of Non-Farm Payroll (NFP) data and employment change figures for the Canadian Dollar (CAD) today. Based on this analysis, my medium-term target for the pair is 1.35753 , with the ultimate target identified at 1.34887 . This outlook becomes invalidated if price breaks the 1.37910 to the upside. Cheers!
Short
by Samuel124
Bears Beware of B WavesPrice stopped fall at the 0.618 retracement ~4321 SPX and held for an intraday double bottom ~4310. Holds above the previous Friday's finish after a mad V rally. Stonks remain in a downtrend but this countertrend move may be only halfway up the flagpole. C wave ought to carry index to the upper trendline of falling channel, another 100 pips above. Confirm Monday. Price action 10/13 was indeed spooky, from where came this mad gap up, but it vaporized in under an hour and the rest of session was spent testing the 20 DMA. If you short it here you may well be selling at the bottom, be ware! GLTA
TVC:SPXLong
by DaddySawbucks
BTCUSD: 0.618 Retrace Likely Before Continuation HigherBitcoin has Formed a Peak during after a 5th wave while trading at the top of a Broadening Consolidation Structure and showing Bearish Divergences. If things were to go as one would expect, I would think BTC should have around a 20% pullback to about 23k which would take us back to the POC and would be a 61.8% Retrace of the Local Low to High. If we can then begin a rally from the 61.8% retrace, it will then be a Potential Partial Decline which would almost guarantee that BTC Bullishly Breaks out of the Broadening Pattern upon making contact with the upper trend line. If this were to happen I would say BTC could very easily see 40k but I also think that it's very likely that this will be the pivotal point that begins Bitcoin's greater rally up to $60,000 then $146,387 as can be projected via the volatility trends that can be seen in this chart below:
INDEX:BTCUSDShort
by RizeSenpai
EURUSD SwingHello everyone, Above I have my analysis for EURUSD. As we can see in this photo, EU has been on an diagonal downtrend for some time now. Recently, price has broken structure of the uptrend trend line and now in the process of retracing and forming a corrective wave. In the screenshot we can see I put the Supply and Demand zone, this is where we will look for price to stay in until the next long swing. We currently waiting for the price to reject in our supply area and correct to our demand area and also have rejection to confirm this set up. I'm open to feedback from anyone and everyone about my analysis. If anyone of you have a similar set up or enjoy my analysis breakdown please like and share with other fellow traders. Thank You
Long
by NoPumpFakesFx
1