Elliottwavepatterns
DXY 1Day ELLIOTT WAVE PATTERNS
Extension Pattern : By definition an extension occurs in an impulsive wave, where waves 1, 3 or 5 can be
extended, being much longer than the other waves. It is quite common that one of these
waves will extend, which is normally the third wave. The two other waves then tend to
equal each other.
In our pattern definitions we call it an Extension1 if the first wave extends, an Extension3 if
the 3rd wave extends and an Extension5 if the 5th wave extends.
USDJPY the next wave 3Hello guys,
The next target is wave 3, follow me to be updated If this analysis can be useful for you.
SPY Elliott Wave Update May 11- BullishIt appears that SPY has broken out of the IVth wave triangle and is headed to new all time highs in cycle wave V, after which comes a major crash.
As you can see, the triangle is subdivided into 5 waves, A-E, and if this representation is correct, the beginings of the Vth wave bull phase is underway. This is confirmed by the wave structure in minor waves 1 & 3. For the first time, in months, we are seeing non overlapping impulse waves up. I'm labeling this my primary count.
So, is it all clear to new highs? Probably. But the volume isn't perfect. The lack of a confirming volume increase or spike on the upside is a little troubling. Until a minor 5th wave up is confirmed, or the B wave high of 280.41 is taken out, it's possible SPY is still in the D wave of the triangle.
That said, I'll continue with the primary count. SPY is currently in minor wave 3. The corrections on the way up, have been very short. When wave 3 ends, minor wave 4 can be expected to be another small pullback, probably around a . 382 retracement of wave 3. Though unlikely, a move below 267.84 would give credence to the alternate count, that this is wave D.
VergeBTC Surfing a W4 Pullback Buy SetupVerge/Bitcoin, 240 minute bars, 041118, 10:11 p.m., EST.
Fast post:
Hello traders, it appears that Verge is on the verge of completing a Wave (4) of lower degree pullback. This is not a particularly high confidence wave count, it is a decent pattern trace If true, there would then be two more rallies remaining. We would see a Wave (5) of bigger Wave 3, then a retracement to within the current W3 to W4 area, then one possibly one more high, if this analysis are correct.
Note that this apparent correction down could still become a zigzag pattern that pushes below the lower triangle threshold line I have drawn, and still be a W4 pullback, thus still bullish
Situation:
1. A valid breakout up out of this
triangle would likely occur at
0.00001270.
2. First target at 0.00001497 area,
3. Second target at 0.00001594.
4. After this up move, a larger degree
Wave (4) pullback into the current W4
area is likely. This shoud be followed
by one more wave up to complete the
5 wave sequence and a larger degree
top, labeled 1, in black font.
This analysis is meant for purely educational purposes, and whether you choose to trade on it or not is entirely on you, for your risk and your liability alone.
PAST TRADE OR ANALYSIS PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
TRADING CAN BE VERY RISKY, WITH THE POTENTIAL OF LARGE GAINS AS WELL AS LARGE LOSSES.
Be safe and enjoy yourself. Make it a great day!
Michael Mansfield CIO,
Eurjpy Elliott wave analysis: Has price peaked yet?It seems the impulse wave is not complete yet. Price is of course in the last stages about to call for a bearish correction. I want to be patient on this and wait till price makes a substantial move downside (to confirm and then I can rel-label and wait for a retracement to sell) or else, I will hold on for more rally. Let's see how price will play this out. The top is not far from reach. Let price pave the way.
