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Doublezigzag

Double bottom to come and then someBitcoin is in a pretty clear double zig-zag (5-3-5) correction since the ATH. We are currently in the 3rd segment of the last 5-wave portion of the correction. The optimistic look is that we might be forming an ending diagonal/descending wedge here with a range squeezed between the green lines. This pattern is likely to hold because near where the price is going to drop to that support line is also in the area of the Feb 6th bottom (~$5800). This is the next good swing play is therefore around that trendline touch, expect a bump into the 4th segment from $5800 to $6500 or even up to $7000 (unlikely) before continuing the last leg down. I then expect Bitcoin to break the $5800 and go down as far as $4500 area. But lets hold off on that until we see what happens near $5800.
BITFINEX:BTCUSDShort
by crypt0guy
$NatGas Daily Chart. Hi-Prob. Reversal, Eyes $3.38 | #naturalgasTraders, Natural Gas has bounced from $1.574 since 03.10.2016 and developed into a five-wave sequence terminating at $3.846 exactly where fib price measurements were converging, highlighting the end of the impulsive wave. Measuring the internal waves of this sequence, it turns out that its fifth wave is extended. That can be confirmed even from the ensuing (a) – (b) – (c) correction making a sharp Zig-Zag founding support at the level of the low of wave two of the extension, which is common after 5th wave extensions, indicating dramatic reversal ahead. However, the correction was not over, again price has since developed into a corrective structure where minor degree (x) wave is possibly developing into a Regular Flat pattern. The last c. wave to complete the pattern has started unfolding and it must also subdivide into a five-wave pattern, which is actually possible. In this case, it would commonly end at minute wave’s b origin ($3.38). After this upside target has been tested, await a reversal signature to confirm the resumption of the larger downtrend with a Zig-Zag, to complete the double Zig-Zag pattern with minimum $2.378 as a downside target. We will be waiting to witness a five-wave price event on an inter-hourly chart to the downside from that high ($3.38) to validate that the downtrend is in place. Thanks for your attention Trade with Discipline Best
OANDA:NATGASUSD
by ChrisMark
3
$NZD vs. $USD 1H Chart.End of correction. Short term | #nzd #usdTraders, NZDUSD has been in a correction since 10.27.2017 starting the corrective structure from 0.68182 which is where Fib price ratios confluence were pointing, giving us the end of third (iii) motive wave. So far, having completed unfolding into a Zig-Zag labeled in minuette degree, a. - b. - c. , the corrective nature was still present, and so after making a running flat (labeled x.), we're looking for a double-combination pattern, that of a Double Zig-Zag to end the corrective fourth (iv) corrective wave. Price target for possible price-reversal is 0.70000(+/-) where fib-price ratios confluence pinpoint and also was the high of the smaller degree fourth (4) corrective wave. Trade with Discipline Best
Short
by ChrisMark
1
Monero: Clear Double Zig-Zag Corrrection Looks CompletedMonero declined from 155 to 62 and lost exactly 60%! This is interesting sign, but to be more confident, 62 is really nice psychological support because wave (I) resistance became wave (IV) support. There is one more and the most important sign! We see a clear double zig-zag correction, which means that correction could be completed and we could expect Monero back to bullish trend. Keep in mind that bulls will be confirmed, when we see a broken channel resistance line. ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
BITFINEX:XMRUSDLong
by ew-forecast
11
$EUR vs $AUD 4H Chart.Identifying Patterns | #aud #eur #aussieTraders, EURAUD is in correction since 01.06.2017, and this is an attempt to identify the patterns in order to understand the bigger corrective structure of the 4th (4 circle) corrective wave. We need some more info which would make the analysis more accurate but taking some standards into account, we can build a trading plan. Looking inside at the potential flat pattern which still, we don't know the nature of it, as it could be a regular, expanding or running. 1 - Wave-A has been developed into a Zig-Zag pattern (A)-(B)-(C), with a more complex internal (B) corrective wave structure developing a Double-Zig-Zag Pattern, ending at 1.44176 2 - Wave-B is probably developing a bigger Double Zig-Zag Pattern. The first target of the wave is the previous swing high ( the origin of the wave A) at 1.52268. If price reaches the target without breaking it the scenario with the Regular Flat Pattern is in play. On the other hand, if price breaks the target then, the Running or the Expanding Flat Patterns are in play. 3 - Wave-C, the last wave to complete the Flat Pattern, should probably be a motive wave, developing 5-wave sequence. Trade with discipline Best
by ChrisMark
16
$USD vs. $JPY 4H Chart. One last drop, Eyes 105.540 | #usd #fx Traders, USDJPY is in a correction since 15/12/16 and has developed into a ZigZag W(circle) and a possible flat pattern X(circle) so far. 1- Wave-W (circle) developed into a ZigZag pattern, internal 5-3-5 structure a. , b. , c. ending at 108.130. 2 - Wave-X (circle) developed into a flat pattern, internal 3-3-5 structure (A),(B),(C) , ending at 114.488. 3 - Wave Y(circle) possible last ZigZag pattern, completing the corrective structure with a Double Zig-Zag. -Price has touched previous top level (A) 114.368 and pushed back, indicating a flat pattern. Overall, bearish bias to 107.145, 105.540, or 104.080. Trade with Discipline. Best
Short
by ChrisMark
9
Copper peaked for a decline towards 2.48This is just a correction of my count on the September 7 post. I saw that my annotation for wave Y was off and I have corrected it, but the outcome remains the same. A top is in place for a decline towards at least 2.48. Yesterdays strong decline of 3.45% adds confidence in this count. The big question is, whether a third zig-zag rally is seen from 2.48 or a break below this strong support will be seen? The structure of the decline from 3.18 will answer that question in time for us to act, but for now, just let's concentrate on the decline towards 2.48.
COMEX:HG1!
by EWS
CHFJPY Elliott Wave Count: Breakout May Start Double Zig-ZagThis pair, like other JPY pairs, is in the midst of a short rally while we wait for volatility to return to the market. When it does I'll be looking or opportunities to buy the yen. I will only be pulling the trigger on this on a confirmed breakout. If and when wave-(A) completes, our best move will be to sell the (C) wave toward further dropoff. The next London and US sessions will likely provide us with critical indicators of continued direction.
Short
by glennmercer