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Elliottwavecorrection

5th Wave Almost Complete - SELL The BreakdownGood evening traders, Crude oil has seen a bullish breakout from a bull flag pattern. However, we are possibly seeing a 5th wave top setting up at the moment, inside a rising wedge formation. Due to positive vaccine news and the global economy coming back online in the near future, the long term picture remains bullish for crude oil. However, the short term picture could see a pullback due to the technical structures. We are waiting for a breakdown from the rising wedge formation to enter a sell position. Stop loss will need to go above the most recent swing high. Any thoughts or comments are welcome.
TVC:USOILShort
by Trading_Tony
2
XAUUSD Elliott Wave Forecast - Fourth Wave Still in ProgressHello all, Price achieved 1800 today and had an initial bounce of the horizontal support. It's possible that it can drop into the 1750 - 1760 zone. The corrective structure is still in formation. As mentioned in my previous idea, expecting to see a lower degree correctional structure forming over the next month to get a better idea of where the best possible entry will likely occur. Price action will likely be choppy. Follow me for more updates on this one. Trade safe, Beyond Edge Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
OANDA:XAUUSD
by BeyondEdge
XLM/BTC Elliott Wave Analysis - Breakout?Hello all, I've counted this with many different sequences and feel that a Double Three (WXY) combination is what has likely been printed here. It's possible that it continues to correct further to three corrective structures and forms a Triple Three (WXYXZ). I'm looking for a set of five impulsive and composed waves to rule this out and signal a change in the direction of the trend at one larger degree. Follow me for further updates. Elliotticians your input will be kindly received, please leave a comment and feel free to share your opinion. Thanks for looking, Beyond Edge Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
by BeyondEdge
GBP/USD - Reverse Symmetrical Correction - Bearish OutlookEvening all, A bearish formation printing into place for GBP/USD. Price will continue upwards in the short term and potentially create a throw-over before a reversal back into the triangle and a sustained move downwards. A longer term bearish outlook going into 2021. A good strategy to buy from pullbacks on the smaller time frames until then will provide some wins. Manage your risk well and remember to always plan your trade and trade your plan. Beyond Edge Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
by BeyondEdge
DAX - potential Ending diagonalDAX is caught in a tight range since the "vaccine spike" back on 9th of November. It looks like the classic ED (ending diagonal) pattern, so ideally it should have one last push higher before rolling over. The ED is my preferred scenario at the moment. This could also be just a complex correction with a b-wave high (in which case the lower trend line could break directly) or even a nested bull wave (series of 1-2 waves) which should start running higher in earnest. I do view the nested bull waves as the least likely scenario and will only consider it in case price breaks the upper trend line with authority and keeps running.
DShort
by alx13