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Elliottwaveretracement

USDJPY Trade Idea - Elliott WaveLet’s discuss the price chart of the USDJPY currency pair based on the 480 minute timeframe. From the Elliott Wave perspective, the price action appears to have completed Wave (5). The parallel channel also confirms this analysis. Additionally, most momentum oscillators are forming a bearish divergence pattern, which is typical at the end of fifth waves. Essentially the upside momentum is waning, and a downward correction is imminent. From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, topped on April 1 (1st vertical line), and is projected to form a bottom on May 6 (2nd vertical line). Based on this, we can expect prices to move lower from here. The actual sell confirmation would occur upon the breakout and close below the lower parallel channel. A Fibonacci retracement of 50% of the entire bullish impulse would be a likely support area. If you find this analysis useful, make sure to press the “Like” button and Follow us.
Short
by ForexTrainingGroup
1
GOLD - EW main count !! LongHello trader, good mood and profitable deals! 💲 GOLD 2 hour chart EW - Analysis This is my Elliot Wave main count!! EMA 10 - 13 - 20 and EMA50 in red are also geared towards EW. EMA50 serves as a strong support. This should hold otherwise we should prepare for a stronger bullback or trend change! I would like to mention that all I post are just options and my own opinion! Always trade with SL, and do not risk more than 1% of your portfolio (max 3%) per trade. ➡️If you like my posts smash the like👍👍 button, comment or follow me.⬅️ Thanks for reading my ideas!
GLong
by TR7z
2
GBPJPY Trade Idea - Elliott WaveLet’s discuss the price chart of the GBPJPY currency pair based on the 240 minute timeframe. From the Elliott Wave perspective, the price action appears to have completed Wave B of the corrective sequence just beyond the 78.6% Fibonacci retracement level. GBPJPY is currently progressing in Wave C down. From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, topped on April 6 (red vertical line), and is projected to form a bottom on June 13. Based on this, we can expect prices to push lower from here. The confirmation will come upon a breakout below the lower channel line and is likely to find support when it reaches a 100% Fib extension of Wave A. If you find this analysis useful, make sure to press the “Like” button and Follow us.
Short
by ForexTrainingGroup
4
NVDA: Sell Zone is 310-320As expected, NVDA is completing its 4th wave pullback. It should begin its uptrend in the next day or two. Upside target zone for W-5 is around the 3.382 extension, which is about $310-320. After that, NVDA will have another deep pullback to about today's levels, so there will be plenty of opportunity to add if you do not currently have funds available. I will be selling CCs against my shares once we reach the 310 region. Always stay patient and never stay married to an idea if price begins to tell a different story.
NASDAQ:NVDALong
by TomDaSpankEngine
5
BTCUSD Symmetric TriangleLooks to me like BTCUSD is in a symmetric triangle pattern, which tends to follow the current trend (which has been down) before continuing onward. There is a possibility of reversal, but symmetric triangles typically continue the current trend. If this were an ascending right triangle, I'd see it as more bullish. If it were a descending right triangle, more bearish. I'm going to wait and see if it can hold above the triangle for a couple days, and then maybe open some positions on it, or wait for it to reject the trend and fib resistance points and continue down. My opinion is that it is likely to continue downward, and this is a Wyckoff redistribution phase. There's a chance it is a consolidation for an upcoming reversal, but I'm personally bearish.
COINBASE:BTCUSDShort
by brettfb