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Elliottwavestheory

[EW] XAUUSD (GOLD) correction incomplete.The correction beginning the August 7th 2020 high is nearly complete. I believe it was a running flat, and the final downwards impulse is in wave iv, awaiting a final wave (v). The target for wave iv is approximately 1775 (61.8% of wave iii), where it should terminate and then the next target is 1617 for wave (v), which is 61.8% of the previous run. Plenty of other Elliott Wave practitioners have the current downtrend labelled as a high degree wave 4, which means after the movements described we'll be in a high degree bullrun! Hopefully wave 5 lasts a while. NFA, DYOR
OANDA:XAUUSD
by lg389
2
LTC in contracting trianglePrimary idea is that LTC is currently in a D wave of a contracting triangle. A:C = 1:0.618 (perfect reaction) If this is to be a "textbook" example of a contracting triangle, the following should happen: - D wave should complete at 0.618 of B wave (B:D = 1:0.618... +10% from now, 155-156$ area) - There is some market structure that could provide resistance at this level - E wave should terminate somewhere in the internal range of the C wave (130-134$ area) - Also some market structure (not as strong) that could provide resistance. - After completing the triangle, make a new impulse to head towards next level of resistance (Feb '18, check daily or weekly time frame) If you like my ideas please hit like and follow. :) This is not financial advice.
by lkunej
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.
TVC:DXY
by ElliottWavePatterns
1
Elliott Wave View: NZDUSD Still Needs To Rally In Wave FiveNZDUSD main cycle from September 24.2020 low is showing an Elliott wave impulse rally higher but still missing the wave (5) favoring the idea of 1 more push higher before ending 5 waves rally from September lows. In the 1hr chart below, the pair is showing an impulse rally higher in wave (3) where wave 4 of (3) ended at $$0.7120 high. Then wave 4 pullback ended as a lesser degree flat correction at $0.7052 low. Up from there, pair made another 5 waves rally & ended wave 5 at $0.7171 high thus completed wave (3). Down from there, the pair made a wave (4) pullback. The internals of that pullback unfolded as Elliott wave zigzag structure where wave A ended at $0.7108 low. Above from there, wave B bounce ended at $0.7143 high and made another 5 waves decline lower which ended wave C of (4) at $0.70002 level. Now, as far as the pair remains above 0.70002 low pair is expected to resume higher in wave (5) looking to reach a minimum towards $0.7212- $0.7278 inverse 1.236-1.618% Fibonacci extension area of wave (4) before ending 5 waves rally from September lows. Alternatively, if pair brokes below the $0.70002 low & does the double correction lower from the peak then it can see $0.6942- $0.6901 area lower before starting the next leg higher.
by Elliottwave-Forecast
GBPCAD, 4hr tf, sell Wave-3 extension waveHello my friends, Another plan for GBP crosses pairs. We got GBPCAD to trade as well for today. But i am still waiting for price to touch around 1.7200 before entering sell. I use a sell limit order for this pair because it might hit my trade when i was not watching it. As you can see this pair is bearish in my opinion. GBP is very fragile right now because there is fundamental Brexit issues. If we do an Elliott Wave count we could assume that we're now on Wave-3 extension. Inside this extension there is a good setup to trade as well. Wave-3 is not finished yet because we still got wave-iv and wave-v to complete this Wave-3. Wave-iv is on the process and might completed soon. We are going to use wave-i area as our stop loss because we're trying to use Elliott Wave rule for 4th Wave. Sell limit GBPCAD 1.7195 Stop loss 1.7255 Take profit 1.6925 (4.5R) RR ratio 1 : 4.5 Use only 1-2% risk Good luck Check my GBPAUD plan as well on the link provided below. If you find my post useful, give me a thumbs up and follow me for the next updates.
Short
by HayatoDragonFX
2
GBPCHF, 4hr tf, sell wave-C breakdownHello my friends, Today we are going to sell GBPCHF. As you can see, i already marked our horizontal support and resistance level. I also do the Elliott waves analysis and found that we got a nice opportunity to try selling GBPCHF. We're now on ABC correction in my opinion and we could break wave-C into 5 waves. Waves-iv now completed and we will soon see price rotate lower to complete wave-v. We use elliott waves rules where 4th wave can't touch 1st wave area as protectice stop loss. Sell GBPCHF 1.2000 Stop loss 1.2040 Take profit 1.1880 (3R) RR Ratio 1 : 3 Use only 1-2% risk Good luck
Short
by HayatoDragonFX