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Correctivewave

What we know and what we can't proveTrying to gauge the current wave is a tad taxing. We know Supercycle 1 ended at the beginning of 2022. This is followed by Supercycle wave 2 which is composed of an ABC corrective wave. The question is are we in the early stages of wave C and about to end Supercycle 2, or are we in the middle of wave A with plenty of plummeting ahead? Historics would have Supercycle 2 end 49, 95, 104, 125, or 128 trading days after it began. Wave movements in the past 4 years have been getting quicker and more volatile which would point to a quicker end, but would these be the shortest wave 2 in relation to all other waves? Unlikely, but possible. If we are in early wave C or early wave 3 (still in wave A) we should see drastic downward movement this week. I will re-evaluate if neither one of these pan out. The blocks under my red arrow contain the early estimates of where Supercycle wave 2 could end. The maximum length would have been 49 days. The lighter blue arrowed blocks contain my current estimates if we are in early wave C. These boxes should be met no later than February 17-28. The other option is we are in the early stages of wave A's wave 3 which would see a bottom in a few more weeks followed by more major up and down swings. I do not like this scenario simply because Supercycle 2 would not end for a few months with a likely bottom below 3000. Historics says this level is way too low which is why I do not think Supercycle 2 will be prolonged. We will find out where we are by the end of February and if we can touch all-time highs again by April/May.
SP:SPXShort
by StockSignaler
EURUSD Correction Bearish ContinuationWelcome back! Here's an analysis of this pair! **After breaking a strong key support level (now turned resistance), we expect EU to correct back to the level and continue bearish sentiment. The highlighted resistance is our preferred level to short once our entry rules are met. 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
2
AUDUSD BUYWelcome back! Here's an analysis of this pair! **After the strong bearish impulse move, it appears that banks have taken out liquidity at support (6970) and we can expect a bullish correction to follow. Recommended stop away from structure level or 1-2% of your total account balance, tp's 7015, 7035, potentially 7080. 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
Long
by BKTradingAcademy
2
$RELI – SI 183%Reliance Global Group, Inc. engages in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides healthcare and Medicare, personal and commercial, trucking and transportation, and employee benefits insurance products. The company was formerly known as Ethos Media Network, Inc. and changed its name to Reliance Global Group, Inc. in October 2018. Reliance Global Group, Inc. was incorporated in 2013 and is headquartered in Lakewood, New Jersey.
NASDAQ:RELILong
by BADQOMOCAWGOWLD
NZDCAD Rejecting Support AreaWelcome back! Here's an analysis of this pair! COMMENT BELOW and let us know your thoughts or questions! **It has reached a previous weekly level last visited May 2020 and rejecting. It appears the weekly bearish impulse has completed, and a long correction will begin from the current support. Do you agree? Let us know your thoughts in the comments! 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
Long
by BKTradingAcademy
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