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dollar shows a bullish reversal patternas we can see from the chart, DXY has an ends the day with an hammer ( in which the lower shadow is at least twice the size of the real body.Hammers signal a potential capitulation by sellers to form a bottom, accompanied by a price rise to indicate a potential reversal in price direction. This hammer is seen sitting below an ending diagonal. An ending diagonal is a type of impulsive motive wave in Elliott Wave Theory that will be found in the subdivision of fifth waves or whole C waves in a structure. An ending diagonal C wave or 5th wave commonly shows an obvious wedge shape with an overlapping wave 1 and wave 4. These will subdivide into 3-3-3-3-3.
TVC:DXYLong
by ABDOLLAR_FX
USDJPY, triple Three correction Usdjpy is pointing at a new opportunity to sell with this corrective pattern. This correction is one of the five types of corrective patterns that correct the completed cycle of the prevailing trend. Zigzags (5-3-5), Flats (3-3-5), Triangles (3-3-3-3-3), Double threes which are a combination of two corrective patterns previously mentioned. Then lastly a Triple three that is a combination of three corrective patterns mentioned above The corrective structures are labeled as WXYXZ. They are an 11 swing structure. The subdivision of wave W, wave Y, and wave Z can be a zigzag, a flat, a double three of smaller degree, or a triple three of smaller degree. The Wave X can be any corrective structure including a stand-alone triangle
Education
by ABDOLLAR_FX
EURNZD Confirms Uptrend, but Correction is LikelyThe EURNZD 4 hourly chart above visualizes the advance between July and August 2. More importantly, it reveals that the rally is a textbook five-wave impulse. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v). According to the Elliott Wave principle, this means two things: first, that EURNZD is in an uptrend; and two, that a three-wave correction can be expected before that uptrend resumes. However, if the count above is correct, it makes sense to expect a decline to wave (iv) low in the mid-term. Long positions in this area would not provide a much better risk/reward ratio than currently available. - Invalidation level is the red line on the chart - Entry is the green line which has not been triggered. What is your view on EURNZD? Thanks for reading! Veejahbee.
Short
by Veejahbee
2
S&P500 Elliot wave analysis,25/07/20 watch 3180$The ending triangle tend line is broken. I will consider a bearish scenario and entering wave 1 of the reversal only if we break through 3180$ For Bullish scenario 1- Wait for the confirmation level(3180$) to break 2- You might see a pull back , sell if you see a sell candle in the pullback(usually happens at 50%-61.8% fibo ratio) 3- Stop loss at 3293.7$ ** MAKE SURE YOU ARE NOT RISKING MORE THAN 1-3% Of YOU WHOLE TRADING ACCOUNT, THE AMOUNT OF MONEY YOU LOOSE IF WE HIT THE STOP LOSS MUST NOT BE MORE THAN 1-3% OF YOUR WHOLE CAPITAL***
U
by Analyticssage
2
GBPUSD Elliot wave Monthly chart update , 28.07.20 All the predicted bearish models are invalidated buy the current price move today To be honest I was so bearish but this is Forex and things does not always go in our way. So today it proved that we finished wave X and we are in the Y leg of the 4th wave correction in the monthly chart I am expecting the GBP price gets to 1.39$ finally. this price prediction is based on the **flat correction model**. This price target is a cluster that is confirmed by fibo and reverse RSI methods I will publish the bullish models for daily and hourly charts after the current up trend stops For now do not short or long the market as It is very hard to fit a model to this move. there are couple of models valid now so I can't chose on until this up trend stops
by Analyticssage
Trend Analysis: ROKU - Elliot Wave and C&H PatternNot an expert at EWT , but it's relatively easy to see a wave 4 correction of larger wave 3. I'm targeting a pullback here before earnings to the horizontal white line (which was previous resistance before the recent breakout) and then continuation of wave 5 of 3 to about $210 (2.618 x total length of wave 1 (which is about 80 ($140-$60)). Furthermore, I see the wave 4 correction allowing for a potential handle of a cup n handle pattern. Which takes the chart ultimately to about $260 before the next consolidation phase.
NASDAQ:ROKULong
by daytradederic
2