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Elliottwaveretracement

Elliott Wave View: Dow Jones Futures can soon Starts CorrectionWe are counting the entire rally from December 26, 2018 low as an Impulse Elliott Wave structure. An Impulse has subdivision of 5 waves within wave I, III, and V. And wave III is currently in progress. Internal of wave III subdivides in another 5 waves in lesser degree. On the 1 hour chart, we can see wave ((4)) of III ended at 24862 and wave ((5)) of III is still in progress as another 5 waves of a lower degree. Blue wave (1) ended at 25622 peak, wave (2) at 25273 and wave (3) ended at 25950. Below from there, it ended blue wave (4) at 25748 as flat correction. As long as the pivot at 25748 stays intact, it can extend 1 more time in blue wave (5) of black wave ((5)) of higher degree wave III before a pullback in wave IV can be seen. We dont like selling it as right side is to the upside.
CBOT_MINI:YM1!Long
by Elliottwave-Forecast
Bitcoin - I warned bulls to get prepared for a pullback. In my last update on February 19 I warned bulls: "Today, after 30% quick gain off the bottom I want you to cool down. I am still bullish on Bitcoin . But we got wave i up of a larger wave ( c ) up. We may get now a pretty deep corrective wave ii down targeting 3,600. " I count a-b-c move up that topped around 4,280 this night as a completed wave i up off the December 2018 bottom. Off that top we should a corrective wave ii down shaped as a-b-c. This current drop into 3,820 is clearly only the first leg down in wave a of ii. Despite the fact we should get a corrective wave b up and that could get as high as the previous top over 4,000 I would encourage you not to take your chances and wait for a corrective wave b up to top and then you may try to short Bitcoin for the final leg of corrective decline in wave c of ii down. The reason is that wave b is the least reliable wave. It can get as shallow as 23.6% of the preceding drop and you will not be able to close your long. My expectations have not changed. The ideal target for that final decline in wave c of ii is between 3,610 and 3,530. This is where I will start loading bitcoin again. Because off that low we will see a rally in wave a of iii of ( c ) up that should target 4,550 - 4,650
BITFINEX:BTCUSD
by CastAwayTrader
6
Bear Case If BTC Is In ABCDE TriangleI've been scalping long with tight stops and targets. If I am to get a long term swing trade I want a lower price than right at the triangle top. It is possible that we're in a large sideways ABCDE triangle with the legs formed by ABC corrections. That would mean chopping back into the triangle and the only long term long trade is at the bottom of the triangle support, probably around 3400. This is not a very good hold and hope area on the chart. There's still a lot BTC has to do to prove it is bullish.
BITFINEX:BTCUSDShort
by mljones
1
Elliott Wave View: DAX Bullish Sequence Favors More UpsideDAX has broken above February 6, 2019 high (11371.74) and shows a bullish sequence from December 28, 2018 low (10279.20). On the chart below, we put a bullish sequence stamp and right side higher to indicate the direction that we prefer to trade. The correction to 10867.9 low ended wave ((X)) as an Expanded Flat Elliott Wave. A Flat is a 3-3-5 structure with ABC label. The decline to 11051.11 ended wave (A), wave (B) bounce ended at 11371.74. Wave (C) of ((X)) ended at 10863.56. After ending wave ((X)) at 10863.56, the Index has rallied and broken above the previous wave (B) high at 11371.74. This suggests that the next leg higher has likely started. The rally from 10867.9 low is unfolding as an Impulse Elliott Wave structure. Up from 10867.9, wave 1 ended at 11217.3, wave 2 ended at 11018.95, wave 3 ended at 11371.44, and wave 4 ended at 11244.52. Expect DAX to end the 5 waves move with 1 more leg higher at the blue box area of 11400.25 – 11479.66. Afterwards, the Index should pullback in wave (B) in the sequence of 3, 7, or 11 swing to correct the cycle from February 9, 2019 low. As far as the pullback stays above 10867.9, expect the Index to resume higher again. We do not like selling the proposed pullback.
TVC:DEU40Long
by Elliottwave-Forecast
BTCUSD H1/D1 charts (2/21/2019)Good morning, traders. Price has finally dropped below support and should be heading toward the lower target now. The measured move off that triangle/ascending broadening wedge breakdown is $3750 which is also the 38% retracement of the February 7th move up. As mentioned the past couple of days, that general area should give price a retest of the 2.5 month old descending channel's resistance as support. If price successfully retests resistance as support then, depending on how fast price moves down now, it will most likely to find support around $3750-$3770 with a possible wick down to the H2 R2 pivot at $3740. VPVR suggests that a push beyond these levels should have price targeting the D1 pivot. H1 RSI is bearish at 45, suggesting further downward price movement. Traders should be watching for a breach of the descending channel that H1 RSI is currently printing to suggest that price is likely regaining upward momentum. We also cannot discount the possibility of price ranging between $3815 and $3966 (H1 R3 and R5 pivots, respectively), similar to what happened between February 8th and February 17th. The daily chart shows price hovering around the R1 pivot and median of the large Modified Schiff Pitchfork, just below supply. It also shows price ranging in the top half of the more recent Modified Schiff Pitchfork. D1 RSI is just below overbought and within the upper half of its ascending channel. A break below $3500 suggests a larger move downward. However, a close below the daily pivot at $3615 would have me already preparing for that larger move. As bullish as things look at this time, traders should not allow emotion to cloud their views. Always trade the charts, not what you want the charts to say. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
1
Elliott Wave View: S&P 500 (SPX) Rallies as an ImpulseSince bottoming at 2346.58 on December 26, 2018, S&P 500 (SPX) has rallied 18% in less than 2 months. The structure of the rally appears like an Impulse Elliott Wave structure. An Impulse structure is a 5 waves move. The Index is now within wave ((3)) of the possible 5 waves move from December 26 low. Subdivision of wave ((3)) unfolded as another 5 waves of lower degree where wave (3) ended at 2738.98 and wave (4) ended at 2681.83. Wave (5) of ((3)) is currently in progress towards a potential target of 2781.12 – 2811.77 (blue box). The Index should then pullback in wave ((4)) to correct wave ((3)) rally from December 28, 2018 low (2397.94). The pullback should later unfold and find buyers in the sequence of 3, 7, or 11 swing. In Elliott Wave Theory, wave 4 typically correct wave 3 at 23.6 – 38.2 Fibonacci retracement. We need to wait for wave ((3)) to complete before we can project a more accurate retracement area. If we assume wave ((3)) ends at 2781 (the blue box), then potential area for the Index to end the wave ((4)) correction is approximately 2635 – 2691. Once the Index ends the correction, it still has a chance to extend higher 1 more leg in wave ((5)). Alternate view suggests that the Index ends wave ((5)) already in the current rally instead of wave ((3)). In the alternate view, Index should correct the entire rally from December 26, 2018 low in the next pullback.
SP:SPXLong
by Elliottwave-Forecast
GBPJPY Elliott Wave Analysis suggesting more downsideShort term Elliott wave structure from 01/25 peak is suggesting that GBPJPY is moving lower as a possible 5 waves structure. We can see subdivision of wave 1 also in 5 waves of a lesser degree. Wave ((i)) ended at 142.22, wave ((ii)) ended at 144.17, wave ((iii)) ended at 141.73, wave ((iv)) ended at 142.45, and wave ((v)) of 1 ended at 141.1. The internal of wave 2 rally unfolded as a zigzag Elliott Wave structure. Wave ((a)) ended at 142.63, wave ((b)) ended at 141.7, and wave ((c)) of 2 ended at 143.35. Below from there it ended wave (i) at 141.00 and currently we are calling wave (i) bounce complete at 143.047. As long as it stays below that level but more importantly the pivot at 143.361 stays intact, we expect pair to extend lower but a break above 143.361 can't be ruled out at this stage. We don’t like buying the pair.
by Elliottwave-Forecast
Elliott Wave View: Further Rally in Nikkei FavoredShort-term Elliott wave view in Nikkei suggests that the Index has ended correction at 20169 as wave ((X)) and starts a new leg higher. Decline to 20169 on 8 February took the form of an Elliott Wave Expanded Flat. An Elliott Wave Flat structure has an ABC label with subdivision of 3-3-5. We can see from the 1 hour chart wave (B) of this FLAT ended at 20970 and wave (C) ended at 20169. Subdivision of wave (C) unfolded as a 5 waves Impulse Elliott Wave structure. Down from 20970, wave 1 ended at 20815, and wave 2 ended at 20895. Wave 3 ended at 20270, wave 4 ended at 20370, and wave 5 ended at 20169. The Index has since rallied and broke above the previous high on February 5th, suggesting the next leg higher has started. Rally from Feb 9th low (20169) is unfolding as a 5 waves Impulse structure. Up from 20169, wave 1 ended at 20480 and wave 2 ended at 20390, wave 3 at 21198 and wave 4 at 21060 low. Expect ideally 1 more leg higher in the Index to end the 5 waves up. Afterwards, it should pullback to correct the cycle from Feb 9 low within wave (B) in 3, 7, or 11 swing. As far as pullback stays above 20390 low, expect the Index to extend higher. We don’t like selling the Index.
NLong
by Elliottwave-Forecast
Tesla Elliott Wave Bearish Sequence Favoring More DownsideTesla ticker symbol: $ TSLA short-term Elliott wave view suggests that the cycle from 12/7/2018 peak is showing incomplete structure favoring more downside still. Down from that peak, the decline is unfolding as an impulse structure with sub-division of 5 waves structure in lesser degree cycles. When a decline to $279.28 low ended wave (1) in a lesser degree 5 waves structure. Above from there, Tesla corrected the cycle from 1/16/2019 peak ($352) in wave (2) bounce. The internals of that bounce unfolded as double three structure with lesser degree cycles showing the sub-division of 3-3-3 corrective structure in each leg. Up from $279.88 low, the initial bounce to $318 peak ended wave W also in lesser degree double three structure. Down from there, a pullback to $290.51 low as zigzag structure. Above from there, a rally to $324.19 high ended wave Y as Elliott wave zigzag structure. And also completed the wave (2) bounce. Near-term, as far as bounces fail below $324.19 high expect Tesla to extend lower in wave (3) lower towards $264.11-$243.39 area lower initially. However, a break below $279.28 low will add more conviction to this bearish view & avoid Elliott wave double correction in wave (2) bounce.
NASDAQ:TSLAShort
by Elliottwave-Forecast
Elliott Wave View Suggest FTSE Close To Reaching ExtremeFTSE short-term Elliott wave view suggests that a rally from 12/27/2018 low (6536.53) is unfolding as a zigzag structure where initial rally to 7001.94 high ended wave A in 5 waves structure. Down from there, wave B unfolded as a Flat correction where wave ((a)) ended at 6841.74 low. Wave ((b)) bounce ended at 6987.93 high in lesser degree flat correction. Wave ((c)) ended in lesser degree 5 waves at 6732.33 low, which also completed wave B pullback. After reaching the blue box area at 6785.66-6658.34 100%-161.8% Fibonacci extension area of ((a))-((b)). Up from there, wave C remain in progress as impulse structure where wave ((i)) ended at 6994.88 high. Wave ((ii)) pullback ended at 6945.05 low ((iii)) ended at 7186.5 and can soon end wave ((iv)) looking for more upside towards 7191.16-7473.95 100%-161.8% Fibonacci extension area of wave A-B to reach the extreme from 12/27/2018 low. Afterwards, index is expected to resume the downside or should do a 3 wave pullback at least. Near-term cycle from 12/27/2018 low is mature already with a minimum number of swings in place so it can also deny the last move higher in wave ((v)) and can be completed already but as far as a pivot from 6732.33 low expect index to extend higher.
TVC:UKX
by Elliottwave-Forecast
Elliott Wave View Suggest More Upside in General ElectricElliott wave view in General Electric (ticker symbol: $GE) suggests that the rally from December 11.2018 low ($6.66) is unfolding as Elliott wave zigzag structure when the first leg of a bounce ended in lesser degree 5 waves structure in wave A at $9.25 high. Down from there, wave B ended 3 wave pullback at $8.56 low. Zigzag (5-3-5) is a combination of 3 waves corrective sequence labeled as A, B, C. The inner sub-division of wave A & wave C consists of 5 waves structure either as impulse or a diagonal. While wave B can be any 3 wave corrective sequence. Up from $8.56 low, wave C is unfolding in another 5 waves structure where lesser degree wave ((i)) ended at $9.21 high. Wave ((ii)) pullback ended in lesser degree zigzag structure at $8.65 low. Wave ((iii)), also unfolded in lesser degree 5 waves & ended at $10.77 high. Below from there, wave ((iv)) pullback ended at $9.92 low. Wave ((v)) remain in progress in lesser degree 5 waves structure and should be looking to extend higher 1 more push towards $11.15-$12.76 100%-161.8% Fibonacci extension area of A-B before ending the wave C of a zigzag structure in a bigger wave (4). Afterwards, General Electric is expected to resume the downside or should do a 3 wave pullback at least. Near-term, as far as the pivot from $8.65 low stays intact expect stock to extend higher.
NYSE:GELong
by Elliottwave-Forecast
Elliott Wave View Suggest Another Push Higher In FacebookElliott wave view in Facebook (ticker symbol: $FB) suggests that the rally from December 24.2018 low ($122.55) is unfolding as Elliott wave zigzag structure. The first leg of a zigzag structure ended in wave ((A)) at $152.43 high. Down from there, wave ((B)) pullback unfolded as double three structure where wave (W) ended at $146.37 low. Wave (X) bounce ended at $148.80 high and wave (Y) of ((B)) ended at $142.52 low. A zigzag structure is a 5-3-5 structure where wave ((A)) & ((C)) can unfold as an impulse or a diagonal structures. In Facebook case, the wave ((C)) is taking a form of an impulse structure where wave (1) ended at $149.83. Wave (2) pullback ended at $143.46 low in lesser degree zigzag structure. Wave (3) ended at $171.68 high in lesser degree 5 waves structure. And wave (4) pullback unfolded as double three structure where wave W ended at $165.35 low. Wave X bounce ended at $169.10 high and wave Y of (4) ended at $163.67 low. While above there, the stock is expected to resume the upside 1 more time in wave (5) towards $172.61-$191.13 100%-161.8% Fibonacci extension area of ((A))-((B)) before it ends the zigzag structure & turns lower again or pull back in 3 swings at least. Near-term, while above $1163.67 low, expect Facebook to extend higher.
NASDAQ:METALong
by Elliottwave-Forecast
Elliott Wave More Upside Is Expect in OilElliott Wave view calls the rally in Oil to $54.24 ending wave ((A)). From there, the pullback ended with wave ((B)) at $51.37. Internal of wave ((B)) takes the form of a double three Elliott Wave structure. Down from $54.24, wave (W) ended at $51.80, wave (X) ended at $53.94, and wave (Y) ended at $51.37. From there, Oil has resumed higher and broke above wave ((A)) at $54.24. This signals that wave ((C)) has likely started. The rally from $51.37 is proposed to take the form of a 5 waves Elliott Wave impulse. Up from $51.37, wave 1 ended at $52.24, wave 2 ended at $51.89, wave 3 ended at $54.93, and wave 4 ended at $53.92. The last move higher in wave 5 also ended wave (1) of larger degree at $55.37. Below from there we are calling now blue wave (2) pullback completed at 53.30 low looking for more upside. As long as it stays above that low but more importantly the pivot at 51.31 stays intact, we expect oil to extend higher due to the rightr side tag and the bullish sequence.
NYMEX:CL1!Long
by Elliottwave-Forecast
Elliott Wave View Expects Exxon Mobil To RallyElliott Wave view in Exxon Mobil (ticker: XOM) suggests that the rally from December 26, 2018 low ($64.65) is unfolding as Elliott Wave zigzag. The first leg of the zigzag ended at $73.33 on January 18, 2019 high as wave A. A zigzag is a 5-3-5 structure and wave A should unfold in 5 waves in impulse or diagonal. We can see in the chart below that wave ((iii)) of A ended at $73, wave ((iv)) of A ended at $71.95, and wave ((v)) of A ended at $73.33. The stock then pullback in wave B with the internal as a zigzag Elliott Wave structure as well. Down from $73.33, wave ((a)) ended at $70.64, wave ((b)) ended at $72.27, and wave ((c)) ended at $70.37. Wave C rally has started and the stock is expected to break above wave A at $73 and could see as high as $79 when wave A = C. To gain confirmation for this view, the stock still needs to break above $73. Otherwise, technically we still can’t rule out a double correction in wave B. Near term, while pullback stays above $73.33, expect Exxon Mobil to extend higher.
NYSE:XOM
by Elliottwave-Forecast
Elliott Wave View: Gold Should Continue HigherElliott Wave view in Gold suggests the pullback to $1276.64 ended wave 4. Internal of wave 4 unfolded as a zigzag Elliott Wave structure. Wave ((a)) of 4 ended at $1276, wave ((b)) of 4 ended at $1295, and wave ((c)) of 4 ended at $1276.64. Rally from there looks impulsive. Up from $1276.64, wave ((i)) ended at $1286.53, wave ((ii)) ended at $1276.59, wave ((iii)) ended at 1315, and wave ((iv)) ended at $1308. The yellow metal can soon end wave ((v)) to end the cycle from 01/21/19 low. Afterwards, we expect a pullback to occur in 3-7 or 11 swings to correct the cycle from 01/21/19. Currently, the 1H right side is to the upside against 1276.75.
FX:XAUUSDLong
by Elliottwave-Forecast
Elliott Wave View Expects Tesla Rally to FailElliott Wave view in Tesla (Ticker: TSLA) suggests the rally to $352.09 ended wave ((2)). This suggests the stock is in an impulsive Elliott Wave structure to the downside. Wave ((3)) is in progress and the subdivision unfolded also as a 5 waves Elliott Wave impulse of lesser degree. Down from $352.09, wave 1 ended at $343.8 and wave 2 ended at $351.5. Wave 3 ended at $281.69, wave 4 ended at $290.61, and wave 5 of ended at $279.28. The entire move lower from $352.14 to $279.28 ended wave (1) of ((3)). Tesla is now correcting the decline from $352.09 in wave (2). The correction looks to be unfolding as a double three Elliott Wave structure. Up from $279.28, wave W ended at $298.52 and wave X ended at $287.75. The stock has scope to extend higher towards $307.16 – $319.20 area to end wave Y of (2). Afterwards, it should extend to the next leg lower or at least pullback in 3 waves. As far as pivot at $352.09 stays intact during the correction, we expect the rally in Tesla to fail and the stock to extend to the downside.
NASDAQ:TSLAShort
by Elliottwave-Forecast
1
A LOOK AT WHY NETFLIX IS GOING TO HIT 162 USD Since we already had a ABC downtrending. We got our corrective wave up hitting near the 0.618-0.65 extension. (350-355) I expected that we would encounter some sort of resistance there as corrective waves usually end there. By doing a simple RSI 4H analysis, we can see that we have a bearish resistance at the top of the RSI, which suggest we should expect a downward movement. We should see the RSI hitting the bullish divergence, marked as a blue line. We can also see that MACD has been losing volume over time, and that the first candle started appearing for a bearish outcome. I expect that we should see a 162 USD Netflix price very soon.
NASDAQ:NFLXShort
by LukeSkywalker
6
THE NEXT BITCOIN LONG SETUP FOR ANOTHER 20% GAINOn my last idea we shorted 4100 to 3490. Gaining us a 18% gain (non leveraged). I would like to take the time to let you know of my new long setup which follows the ABC correction we currently are having. Note: Index chart The C is either going to end at 3445, where we would have our first Long. If that is to fail the stop loss would be set to 3410. breaking 3410, would mean we would to 3265, where we set another long. Stop Loss for that one would be 3230. Overall we would not risk a bunch for taking these trades, but we would have a high reward opportunity. I am aiming for a 4110 USD, price gain. Setup in short: Long: 3445 SL: 3410 If it fails Long: 3265 SL: 3230 TP: 4100
BITMEX:XBTLong
by LukeSkywalker
3
Elliott Wave View: 5 Waves Rally in Alibaba (BABA)Short term Elliott Wave view of Alibaba (BABA) calls for the rally from Dec 24, 2018 low ($129.1) as a 5 waves impulse Elliott Wave structure. Up from there, wave ((1)) ended at $142.51 and wave ((2)) pullback ended at $129.99. Wave ((3)) rally ended at $153.35 and wave ((4)) pullback is proposed complete at $146.54. The stock still needs to break above wave ((3)) at $153.35 to avoid a double correction. As an Impulse, internal of wave ((1)), ((3)), and ((5)) subdivide in 5 waves of lesser degree. Within wave ((3)), we see the lesser degree Impulse in wave (1) at $131.15, wave (2) at $130.05, wave (3) at $147.54, wave (4) at $142.06, and wave (5) at $153.35. Wave ((4)) pullback ended as a double three Elliott Wave structure, where wave (W) ended at $148.88, wave (X) ended at $153.38, and wave (Y) ended at $146.54. Near term, expect Alibaba to extend higher in wave ((5)) while it stays above $146.54. Potential target wave ((5)) can reach as high as $160 – $163 area when wave ((5)) = ((1)). Afterwards, cycle from Dec 24, 2018 should end and Alibaba can pullback to correct that cycle in 3, 7, or 11 swing.
NYSE:BABALong
by Elliottwave-Forecast
Short Term Elliott Wave View in SPX Favoring More UpsideThe SPX has ended the cycle from 9/21/2018 peak at 2345.96 in red wave W. Above from there the index is correcting that cycle in red wave X in the sequences of 3-7 or 11 swings. Above from 2345.96 low the index can be unfolding as a possible Elliott Wave triple three structure. It ended black wave ((W)) at 2521.27 peak. Internals of black wave ((W)) unfolded as and Elliottwave Zig Zag structure which ended blue wave (A) at 2468.11, blue wave (B) at 2395.19 low and blue wave (C) of black wave ((W)) at 2521.27 peak. Below from there black wave ((X)) pullback ended at 2443.97 low. Above from there SPX is currently targeting the equal legs from 12/26/18 towards 2618.64-2659.87 where we expect black wave ((Y)) to end and a reaction lower is expected. The internals of black wave ((Y)) is currently unfolding as an Zig Zag structure which ended blue wave (A) at 2579.51 peak and blue wave (B) at 2547.10. Above from that low blue wave (C) of ((Y)) can see the areas towards 2618.64-2659.87 where we expect a reaction lower. As long as the pivot at 2443.97 pivot stays intact, we expect SPX to continue higher to correct the cycle from 09/21/18 peak before more downside should ideally be seen.
SP:SPXLong
by Elliottwave-Forecast
Short Term Elliott Wave View in Oil Favoring More UpsideOil's (CL_F) short term Elliott Wave view shows that the decline from 10/3/2018 high ended as 5 waves impulse in wave a at $42.41. The cycle from 10/3/2018 high has ended and Oil should now see at least a 3 waves rally. The rally from $42.41 is unfolding as Elliott Wave zigzag structure where wave ((A)) is currently in progress. An internal of a zigzag is 5-3-5, which means that wave ((A)) should subdivide in 5 waves impulse Elliott Wave structure. Up from $42.41, wave (1) ended at $47, wave (2) ended at $44.35, and wave (3) ended at $52.58. And the pullback in wave (4) can also have ended at 51.38 low and Oil can rally 1 more leg higher in wave (5) to end 5 waves up and complete wave ((A)). After wave ((A)) is complete, it should pullback in wave ((B)) to correct rally from 12/25/2018 low ($42.41) in 3, 7, or 11 swing before the rally resumes again in wave ((C)).
NYMEX:CL1!Long
by Elliottwave-Forecast