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Elliottwavecorrection

Elliott Wave View: EURJPY Remains Under PressureEURJPY shows an impulsive Elliott Wave structure from July 1, 2019 high (123.36). On the chart below, wave ((iii)) of that impulse ended at 116.5 and wave ((iv)) bounce ended at 118.2. The internal of wave (iv) unfolded as a zigzag structure. Wave (a) ended at 117.77, wave (b) ended at 117.18, and wave (c) of ((iv)) ended at 118.19. Pair has resumed lower in wave ((v)) with the internal unfolding as an impulse Elliott Wave structure of lesser degree. Down from 118.2, wave i ended at 117.05, wave ii bounce ended at 117.94, wave iii ended at 116.35, and wave iv bounce ended at 116.7. Wave v of (i) ended at 115.86 low. Pair now should bounce in wave (ii) to correct cycle from August 26 high (118.2) before the decline resumes. We don’t like buying the proposed bounce and expect bounce to fail in 3, 7, or 11 swing as far as pivot at 118.2 high stays intact.
Short
by Elliottwave-Forecast
Elliott Wave View: NZDJPY Plunges after RBNZ 50 bp Rate CutNZDJPY plunges as Reserve Bank of New Zealand (RBNZ) cut the interest rate by 50 basis point. The pair already has a bearish sequence prior to the rate decision, and the rate cut speeds up the extension lower. Short term Elliott Wave view suggests that the rally to 73.2 high on July 22, 2019 ended wave B. Pair is in wave C lower with subdivision as a 5 waves impulse Elliott Wave structure. Down from 73.2, wave 1 ended at 68.64 and the internal also subdivides as a 5 waves impulse in lesser degree. Wave ((i)) of 1 ended at 72.29 and wave ((ii)) of 1 pullback ended at 72.595. Pair then rallied in wave ((iii)) of 1 towards 69.45, wave ((iv)) of 1 ended at 69.95, and wave ((v)) of 1 ended at 68.64. Wave 2 rally ended at 70.11 with the internal unfolded as a double zigzag. Pair has since resumed lower and breaks below wave 1 at 68.64, suggesting the next leg lower has likely started. Near term, while bounce stays below 70.1, expect pair to extend lower. We don’t like buying the pair and expect any rally to fail in 3, 7, or 11 swing as far as pivot at 70.1 stays intact.
Short
by Elliottwave-Forecast
1
BTC - THE COMPLETE MIND F%$@ PATTERN !!!Hey Everyone, a couple of days ago I talked about the Parabola and how it remains unbroken and the strong support in this region. Now I am going to show you another pattern...(which also holds the SUPER DUPER STRONG SUPPORT) I like to call this pattern THE COMPLETE MIND F%$@ PATTERN !!! and why this is very very likely... Right now it as if we are off the coast and we are watching the whales at play, they jump up, then quickly take you under, and then straight back up for air again... Did you survive? Well if you did, this is what we might be about to see.... WEEKS AND WEEKS OF SIDEWAYS FOREVER AND EVER... what better way to create liquidity to move higher, then to take the pattern, up, then down then up then down... RINSE REPEAT... 10 times.... arrr I'm exhausted just thinking about it... It is not a confirmed pattern, BUT it is right now possible, and it holds all the regions needed to continue higher, including the PARABOLA. I'm going to add this again from my previous chart... Short term, we are going to see some sideways movement on BITCOIN with little to no direction, we have a trading range short term of $9,000 to $11,000. We have a high liquidity area in which we are going to see the whales at play, long wicks to either direction taking out STOP losses and creating liquidity for the whales and Market Makers to push BTC higher. This is short term pain for the smaller traders, and if you can hold on and not over margin or sit in spot, I believe you will see the long term gains. This will also cause mass confusion to the direction, which for a whale or market maker is the aim of the game and the easiest way to take you money when you over trade positions. Over trading is serious issue in regions like we are now and will be where many smaller traders will lose the majority of their capital. If you are unsure of direction or feel you are over trading I have a moto. IF IN DOUBT SIT OUT! There is no shame in not being in a trade. Stick to your game plan, wait for a set up to be confirmed, and ONLY take a trade if it all aligns. So please I welcome your comments and CONSTRUCTIVE FEEDBACK - ALL HATERS WILL BE FLAGGED AND REPORTED! And remember, there is NO RIGHT OR WRONG in trading - just money management! REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!! <3 Lisa DISCLAIMER: The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons... PS make sure you give me a like, that way you get updates as I post them.... :) <3
BITFINEX:BTCUSD
by LisaNEdwards
203
EURO (EURUSD) STRONG LONG Wave 3 nextSometimes it is best not to overthink things. The descending wedge on the EURO ( FX:EURUSD ) has been clearly broken to the upside. A new uptrend has begun. Rises are in 5 waves and drops are in 3 waves. This is a classic Elliot wave definition of a new trend direction. Keep it simple. Primary wave 2 and secondary wave 2 of wave 3 UP have now tested the long-term descending wedge's upper trend line and twice it has held and drops below it have been rejected. See two red circles on the chart. Wave 3 of 3 will likely be triggered by anticipation of the Fed lowering interest rates at the end of this month. Cheers! Cyrus
Long
by cyrusgr8
Elliott Wave View: GBPUSD Should Remain WeakGBPUSD shows a bearish sequence from June 25 high (1.2784) favoring further downside. Near term, the decline from 1.2784 to 1.2438 ended wave ((i)) as an impulsive Elliott Wave structure. Down from 1.2784, wave (i) ended at 1.266 and wave (ii) bounce ended at 1.2735. Pair then resumed lower in wave (iii) towards 1.248 with internal subdivision also as an impulse structure of lesser degree. Wave (iv) bounce ended at 1.2513 as a triangle and wave (v) of ((i)) ended at 1.2438. Wave ((ii)) bounce ended at 1.2581 as a zigzag Elliott Wave structure where wave (a) ended at 1.257, wave (b) ended at 1.2507, and wave (c) ended at 1.257. Pair has resumed lower in wave ((iii)) and broken below wave ((i)) confirming the next move lower has started. The move lower from 1.2581 also appears impulsive. Near term, it ended now wave (i) of ((iii)) and the pair is in the bounce in wave (ii) of ((iii)) to correct cycle from July 13, 2019 high before the decline resumes. We don’t like buying the pair and expect wave (ii) bounce to fail in 3, 7, or 11 swing for further downside as far as pivot at 1.258 stays intact in the first degree.
Short
by Elliottwave-Forecast
SPX, Expanding Triangle telling us going short?Since the beginning of the year 2018 the index S&P 500 is more or less in a very big correction formation called "expanding triangle". So that is a horizontal correcting wave which in this case is symmetrical (top rising, bottom declining). In my opinion we are still in a bull market, so i think it will be "just" (30%) correction in the S&P, before we start a new rally like in the years 2016 to 2017. When this analysis should fit, we could go to 2100-2200 points. Its likely that the reason is that the FED is waitin with their rate cuts and Xi & Trump will fight again, cause of their trade-war. The markets expect now the best of the best cases, but that wont happen in my opinion. So we will see. But one thing: when the market has dropped to the to "E", the FED will cut the rates to help them go further up and up. And also Trump could make a "fake" deal with Xi, so just that the markets go up that much that he has a well doing stock market in his election-time ;-) My theory ^^
SP:SPXShort
by swissyoungtrader
6
Elliott Wave View: GBPUSD Impulse Looking for Further UpsideShort term Elliott Wave view on GBPUSD suggests the rally from June 18 low (1.2505) unfolded as an impulse Elliott Wave structure. Up from 1.2505, wave ((i)) ended at 1.257 and wave ((ii)) pullback ended at 1.254. Pair then rallied higher again in wave ((iii)) towards 1.2727, wave ((iv)) pullback ended at 1.2641, and wave ((v)) ended at 1.2784. The 5 waves move higher ended wave A of higher degree. This suggests that the rally from June 18 low is unfolding as a zigzag in a higher degree. A zigzag has an ABC label and it is a 5-3-5 structure where wave A and C subdivide in 5 waves. We have an impulsive 5 waves move from June 18 low which ended wave A of this zigzag. Wave B pullback is now unfolding as a zigzag Elliott Wave structure where wave ((a)) ended at 1.2661. Expect pair to bounce in wave ((b)) then do another leg lower in wave ((c)) to complete wave B correction. Afterwards, pair should resume the rally higher in wave C. We don’t like selling the pair. As far as pivot at 1.2505 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
by Elliottwave-Forecast