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Elliottwaveprojection

USDCAD: Corrective structure in short term?Many of you already know this big picture on daily chart, in the last few weeks we have been following this beautiful rally. Having said that, the trend is bullish on daily chart, but at the same time we don't rule out some corrective structure i short term. From a technical point of view, we have shown on the chart two potential areas useful for trying to take a short position. As we said earlier, our view has been bullish over the last few weeks and we traded the rally thanks to our harmonic structure: (click on chart below) From a technical point of view, it could be interesting to look for some reversal pattern (bearish) on intraday chart, so if the conditions are right, we will publish our updates below.
Short
by TheAnonymousBanker
11
Weekly Update: Strap-In and be PatientToday, we have clearly started our descent down to the low 4300 level. I have posted about this sort of move for a while now. This move to the 4300 level will not happen in a day, nor do I think it will reach my target by next week. However, I do think this will be the type of descent that will not allow for good short entries. That day has come and gone. We now track a pattern that is in the very initial stages of carving out a 5-wave structure towards the low 4300. I offer one thing of support to those who are already short. This is now an incomplete wave 1 and should finish today or Monday...but if you think this is swift and scary...wait for wave 3. LOL Best to all, Chris
CME_MINI:ES1!Short
by maikisch
USDCAD: Rebound in short term?In the last few sessions we have seen an interesting consolidation on intraday chart. From a technical perspective, this bearish leg could also be a 12345 impulsive structure. That said, some corrective structure is possible in short term. In this specific case, the problem is not "if" we reach the Target, but "when" we will reach it and from where the technical rebound will begin. Target1 at 1.36 with long position accumulation strategy (Buy the Dip). Trade with care Like | Share | Comment
Long
by TheAnonymousBanker
Weekly Update: Next Stop 4312.25The rally off the August 18th lows is an overlapping mess that stands a high probability of concluding very soon, if not TODAY. However, yesterday's CPI report market reaction marked a unique opportunity to remind followers, that markets are not linear. You can choose to look at the CPI report positively through a bullish or bearish lense. The reality was the pattern forming prior to the release was overlapping and signaled traders were uncommitted to higher or lower price action. In my trading room we debated the micro pattern the night before and, in the end, we had nothing constructive to the downside, nor the upside. Therefore, it really didn't matter what the report said, we had no micro pattern pointing us down. The upside was well contained within a larger counter trend rally and that was because we had no impulsive pattern up either. I commented in my trading room, "Does anyone still feel markets are moved by news or events"? A hotter than expected CPI discredits the narrative the Fed may be done raising rates. Therefore, one would expect the markets to sell off. But the opposite happened. You can choose to embrace any narrative you would like to explain that sort of price action. You can choose to invest or trade based on your personal perspectives…all of those buys and sells create a pattern. In reality, traders were telling us prior to the release...there was indecision about market direction and therefore we remained mired in this consolidation. But I do think market participants will get the memo shortly. That’s because outside of the micro patterns, the larger patterns are telling us we have a meeting at 4312.25 regardless of your narrative, or perspective. …and attendance is mandatory. See you all at the meeting. Best to all, Chris
CME_MINI:ES1!Short
by maikisch
2
GBPUSD: Potential Corrective Structure or Technical reboundFrom a technical point of view, FX:GBPUSD pair is approaching a very important support area in short term, if from here some Reversal Pattern will form on intraday chart, it is possible to try to take a long position. If the pair will not form a corrective structure, at least a technical bounce should appear. Be careful, the trend is bearish, do not take a position if a clear signal (Pattern) does not appear, follow us. Trade with care Like | Share | Comment
Long
by TheAnonymousBanker
11
INDUDINDBK - Triangle breakout / flat formationElliott Wave Analysis:- View 1:- Triangle was formed and breakout happened and waiting for the retracement. Once retracement took place we can enter into the trade with safe trade setup with Stop loss @ 1396 . target 1:-1500 target2:-1575 View 2:- There is a Flat formation in 4the Wave. expanding flat is getting into picture. Wave B crossed wave A and waiting for the C wave to get retraced. According to C wave we can decide whether it is an Expanding flat or Running flat. we have to wait for retracement. For Triangle Setup :- aggressive buyer can enter the trade right now with same stop loss. Conservative trader can wait for retracement. I'm not a SEBI registered advisor. Before taking a trade do your own analysis or consult a financial advisor. I share chart for education purpose only. I share my trade setup.
NSE:INDUSINDBK
by n0m0ret0ss
3
Expanded Flat on BTC, C Wave (Impulse) Targets.The current correction on Bitcoin looks incomplete, but it's difficult to be certain if it's a flat or an expanded flat. If it's a flat, it's very close to complete, and a fast move up can be anticipated. If it's an expanded flat, then wave 5 of the C wave could extend. I'm inclined to label it an expanded flat because the wave B move appears to extend more than 105% of the wave A move. And the recent price action, with long wicks to the downside, despite very optimistic news events, do not give a feeling of strength.
COINBASE:BTCUSDShort
by wildhood
SP500 Is In A Higher Degree CorrectionSP500 has been bullish most of the year; a trend that can resume after a corrective pullback that is underway now, seen in wave 4 on a daily chart. However, wave 4 should then be made by three waves before correction can come to an end; which is not the case yet, as the recent bounce to 4492-4543 resistance area looks like a corrective wave, ideally wave (B), so be aware of more weakness after recent turn down. Ideally, wave (C) of 4 is now underway towards the lower side of a summer range. If wave (A) low is not going to be broken then wave four can also become a triangle rather than deep A-B-C drop.
CME_MINI:ES1!
by ew-forecast
USD/CAD: SomeHi everyone! In the past few weeks we have already traded FX:USDCAD pair on the first trendline re-test, but at the same time this technical element could still be useful to us. The big picture on daily chart is harmonic structure followed by corrective structure with ABC Pattern formation. ✔ At the moment, we remain below an important resistance (not shown on chart), but if there is a bullish breakout during the first hours of trading, another bullish consolidation should appear, pushing the price to retest the trendline around the 1.3389 area. ✔ From a technical point of view and following the pair on intraday chart, it could be interesting to take a long position on pullback or corrective structure that will appear. During the next hours/sessions, we will publish new updates, even on minor time frame in the section below, or visit our Blog for a more detailed technical analysis. Trade with care. Analysis by Anonymous Banker Team Like | Share | Comment
Long
by TheAnonymousBanker
18
Is BTC Headed to 2019 Bear Market Lows - SHORT -85%?In this video analysis, we dive deep into the current state of Bitcoin's price action. We'll explore the critical M formation that emerged in June 2021 and how Bitcoin is currently resisting its lower boundary. We'll also discuss the ongoing corrective b-wave within the larger wave C, examining potential upside targets. Join us as we analyze key support and resistance levels, Fibonacci retracements, and Elliott Wave Theory to provide insights into where Bitcoin might be headed next. Our target zone of interest? The 2019 bear market lows, situated between $3,000 and $4,900, which aligns with the 1.618 to 1.272 Fibonacci levels of the preceding wave a. Stay ahead of the cryptocurrency market trends with our in-depth technical analysis. Don't miss this opportunity to gain a comprehensive understanding of Bitcoin's potential price movements and make informed trading decisions.
COINBASE:BTCUSD
by joshuashepherd877
3M Company Is At Technical Support3M Company with ticker MMM has been trading bearish for the past 5 years, actually since the beginning of 2018, where we see a completed higher degree wave III. The wave structure from 2018 highs is in three waves A-B-C, which indicates for a higher degree wave IV correction. We can now see it sitting at interesting 90 support area, especially if we consider equal wave length of waves A=C that stopped at the former wave 3 swing high resistance around that 90 area. A recovery back above channel resistance line and 210 region would be definitely signal that higher degree wave V is in progress, which would send the price back to all-time highs.
NYSE:MMMLong
by ew-forecast
EURUSD: Bearish consolidation in near term?Hi everyone! Trend is bearish on intraday chart and an approach around 1.07 area is possible. Having said that, on 1H chart the pair remains under pressure as long as the Price Action stays inside the descending channel. From a technical point of view, it is possible to form a harmonic structure or a bearish impulsive structure with Target around 1.07 area. A bullish channel breakout would initiate a bullish corrective structure. Trade with care Like | Share | Comment
Short
by TheAnonymousBanker
1
EURUSD: Short Term Buy opportunityFrom a technical point of view, the trend is bearish on intraday chart, but at the same time, the FX:EURUSD pair could trigger an interesting corrective structure. That said, with a short-term bullish view, it is possible to build up long positions and try to let them run all the way to Target 1. Don't forget that the Big Bears still have open short positions. This idea is just tactical setup, the main trend remains bearish at least for now. From a technical point of view, we are still awaiting the formation of wave A. We will expand on this idea in our next analysis or update. Trade with care. Like | Share | Comment
Long
by TheAnonymousBanker
8
Bitcoin Is Approaching Support, While Finishing A CorrectionBitcoin made nice and clean impulsive five-wave recovery away from the lows, which from Elliott wave perspective indicates for a bigger recovery. However, after every five waves, there comes a three-wave A-B-C corrective slow down before the uptrend resumes. Bitcoin dropped sharply recently, but the current leg down from 31k can still be part of a complex correction that has been underway since May of this year. It's ideally an A-B-C corrective flat pattern, where wave C can be now in progress, so we think that Bitcoin will stabilize, but probably once current wave C fully unfolds with the support around 24k-23k area. Lower, deeper strong support is at 20k.
BINANCE:BTCUSDLong
by ew-forecast
3
Weekly Update: 4256 Remains the Next Target DownThe area of ES 4256 is welcoming to all who have a trading thesis. Whether you're bullish or bearish, that remains the short term target for SP500 Futures. Once that level is reached, it becomes a jump ball. In the above chart you'll notice an impulsive 5-wave count down labeled in BLUE, and an orange count labeled abc with an arrow pointing higher. The 4256 area is of the utmost importance. The outcome of bouncing or failing decides the direction for the remainder of 2023. Enjoy your Labor Day Weekend. Best to all, Chris
CME_MINI:ES1!Short
by maikisch
5
ETHUSD → Retest of support for decline before further growth BITSTAMP:ETHUSD breaks the global trend support. The breakout is not false. Local support at 1631 is forming on the chart. After a small correction there are prerequisites for further decline. A wedge is formed on the global timeframe, the price bounces off the resistance and in the format of correction is heading towards the range support. Before the global growth the market is separated by the global descending line (red dotted line) In the medium term, I expect a rebound from the support of the wedge with further retest of the indicated resistance line. If this area is broken through, the market will get a new potential. Locally the price is in flat, a break of 1631 will lead the price to fall to the range support and the key liquidity area of 1500. A strong bullish reaction is likely to follow from this area, which could lead the market to a recovery. The moving averages are signaling a breakout of support. Resistance levels: 1696, 1750 Support levels: 1631, 1501 I expect a breakout of 1631 and reaching 1501 before a further rise to 2021. Regards R. Linda!
BITSTAMP:ETHUSD
by RLinda
17
USDCHF Elliott Wave Analysis: Anticipating the Final DescentDear Traders, USDCHF is currently undergoing the final phase of its downward trend, known as “wave 5” in Elliott Wave Theory. In accordance with the scientific description of waves, wave 5 consists of 5 sub-waves. At present, wave 1 has been successfully completed, and wave 2 has retraced to approximately the 0.618 Fibonacci level. Wave 2 retracements often approach the 0.618 Fibonacci level, but it’s essential to note that this is not a fixed rule. Market dynamics can vary, and wave 2 retracements may deviate from this level. The setup appears to be in place for a forthcoming decline towards our initial take profit target at 0.8668. Following this, we anticipate that wave 4 will manifest as a flat wave correction. Subsequently, the final descent is projected to steer the price towards approximately 0.8538. Please be mindful that there is a possibility of the price declining further, potentially breaching the 0.85 level. Therefore, exercise caution and remain vigilant in your trading endeavors. Best regards,
Short
by FireXForex