XAUUSD shortXAUUSD is having a long setup almost 44 pips or minimum 20 pips and then will rally for short trade
Elliottwavecorrection
The Cable is Holding OnGBPUSD looks ripe for a turn higher.
We've been anticipating for a few weeks a dip in the latter portion of a 4th wave. Now, the dip has come. The bullish outlook for Cable (GBPUSD) is based on prices holding above 1.3483. A print below 1.3483 will create a need to go back to the drawing board for the Elliott wave picture of this market.
There are 2 main scenarios I am following.
The red labels suggest we are DEEP into the 4th wave with one more dip to finish it off. 1.3630-40 zone is the anticipated reversal point. Once the 4th wave is finished, that means a 5th and final wave to new highs which would be several hundred pips above current levels.
The alternate is the blue labels and path. This suggests the recent low was the (c) wave of the 4th wave. This implies an abbreviated (and probably choppy) rally higher before turning lower again. The rally would have a couple of hundred pips in it so it might be tradeable, but likely a bumpy ride.
Both scenarios above are valid so long as the price holds above 1.3483.
Feel free to post comments or questions below.
GBPJPY Setup 2.0 ready for wave 3 🌊This is my updated setup.
Waveforecast based on fib retracement, extension, time-based,EWO
Was this an ending diagonal in BTC?My gut told me that we wouldn't see a deep 5th wave, like most thought.
However, I never thought that it would be this shallow!
Have we witnessed an ending diagonal yesterday?
I just did a deep dive and this is the best I could come up with.
USDCAD Analysis and Wave elliotWave 4 has suffered in the form of a triangle and Wave 4 has completed the microwave. The trend continues in the 4-hour timeframe. The correction continues downwards. It is now in the range of Wave 5, and it started. The usdcad update is loading
BTCUSD - Outlook Mid Day Update 2021.06.06Guys, once again Bitcoin has given everybody the slip. The upwards momentum last evening at the open was not sustained and price proceeded to make a double flat pattern which I have labeled yet again (w)(x)(y). Current price action appears to be making another form of 3 wave pattern to the down side and possibly creating one of the two possible harmonic patterns on the 30 Minute Chart. Either a Bat Pattern ending at 35371.65 or continuing down to 34263.75 to make a Bullish Crab. This is letting us know that the much larger corrective structure is not yet finished.
Taking a Sideline Market Position right now may not be a bad idea.
Good luck and Safe Trading!
XRP impulse wave coming!!XRP is ready for a nice trendy wave, however if we do break to the downside lowest we could go is to the 78.60 fibs level. imo xrp is still cheap.
GO SHORTSell AUDUSD, in terms of patterns, we can see a Head and Shoulder pattern. Elliott wave shows us a movement of wave C is starting up. Do have a pipful week
GBPUSD 4H correctionWaiting for the break of the ending diagonal of wave C of wave B for a short trade entry. C wave target will be near the end of wave A as an application of a regular flat correction. have a good trade UwU.
EURUSD 4H Correctionwaiting of the break of B movement's trend line for a short trade entry. C wave target will be near the end of wave A as an application of a regular flat correction. have a good trade UwU.
XAUUSD ShortI'm sharing this Idea for going short on XAUUSD with you, Tell me your opinion about this trade in the comments section.
USDCAD LongWhat's your opinion about this trade? share your ideas in the comments and lets discuss them..
Bitcoin - RSI DIVERGENCEThere is an RSI divergence on DAILY chart since a moment. This gives a high chance that the bulls need a rest.
The 12345 wave formation also seems to be ended.
An ABC correction wave has started to form, we expecting wave C to fall lower than the A wave.
Trade safe.
IRIS finishing primary correction soon, turning back to impulse?Hi. In this 1D chart I've done a retracement of intermediate Elliott waves and charted the primary waves. I've concluded that a primary correction wave is about to finish.
Symbol NASDAQ:SCWX has a similar sector, product and an almost equal Enterprise Value.
It's current price is 13.22 $ or 110 SEK.
I value $IRIS at around the same price.
Thank you. Please if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods.
This does not constitute financial advice.
Any prices, even if explicitly stated, are presented with intent to discuss the symbol and potential interpretations.
Any trades shown or mentioned are examples and neither recommendations or mandates.
AfterPay - Price action needs to hold this level of support !!The APT price action is desperately looking for support and a pretty obvious elliott wave ABC correction is in play. Chart is suggesting APT needs to hold this level or we could see further falls down to the $70 level or even lower. Also H&S pattern is in play. Just an observation take with a grain of salt.
TESLA Intraday Price Prediction...)Hello!
Glad to present some detailed chart on TSLA.
Regards, Team Traders "PowerfulTraders"
Magic TA: The future is predicted magically!Earlier was the first to published an idea about BTC is not gonna break ATH 61800 at this point of time, instead will need a price correction before 72k! According to the observation of recent days, it is confirmed to be riding on the price correction wave. It would be a huge retracement according to the principle of elliott wave. However, after a while I've seen many analyser posted the similar chart.
My philosophy is always "sell when people buy, buy when the others sell".
Thanks to those who blindly buy (long) BTC at the peak of the hill, and so I'm getting extreme high funding fee from the trading platform on every 8 hours. ;) This may be the good timing for the newbie (especially those "smart traders" trying to "educate" me in a bad way) to understand, what's the real meaning "Do not chase ups and downs. Anyway, regardless long or short, debate / discussion with open-minded is always welcomed. Sincerely hope ALL OF US could make a fortune from crypto trading!
Again, this is not a financial advises. I'm not a professional analyser, and I've started the trading for 2 months ONLY. :) It's my hobby to analyse the pattern so it would help in my development of automated pattern trading software.
Gold - Elliot Wave corrective phase completed (ABC)lets keep our eyes on Gold and Silver next week as a nice reverse hammer candle also formed, which could be a clear signal of an elliot wave completion. will position into some stocks early next week.
