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Elliotwavecount

Oil Corrective Structure Wave Analysis Buy/SellIf you look at my analysis from November 25th which is linked below you can see that I forecasted a big sell off in Oil. The sell off I was anticipating have began, now I am looking for the trend to continue to the downside. Before that happen I will not be surprised to see a bigger corrective structure to form which may retest resistance around 57.19. It may not get that high but I am looking for another push up to set up another potential sell off. Also watch the trend line to act as support.
FX_IDC:USDWTIShort
by JjohnsonBeGreat
USDCAD: Retest of Support May Indicate Further RiseHi Traders, On November 28th, price was showing a contracting triangle and making the case for a long setup. The triangle has now been invalidated and price is forming a regular flat. We may still have a long setup if price retests support at 1.3255, thereby completing the regular flat. I have indicated clear buy and sell zones. All the best, Wave Theorist _____________________________________________________________________________________________________________________ If you like my analysis, kindly follow me on: Instagram - www.instagram.com
Long
by UnknownUnicorn5158708
Elliot wave count : The bullish viewHello fellas, Welcome back to the bitcoin technical analysis with us one point trading. in this current analysis, I will cover up the potential bullish pressure for short term on bitcoin which is so far very possible to occur. So, let's enjoy this technical analysis. Based on the above chart, we can see that there is a rising wedge which has been formed and current price has already broken down because of this rising wedge pattern. Based on the elliot wave theory, the Bearish rising wedge always called as the leading first wave diagonal as the first impulse wave. That's why I will assume the period between November 25th - November 29th as the first impulse to the upside and currently the price is moving at the 2nd corrective wave. And looking at the 2nd corrective wave, Just to be honest that it is hard to count properly to find the potential ABC structure here. But, I will assume the the C wave only has 3 sub wave and considering the price is still trending at the previous broken resistance that is now become resistance and the MACD on 4 hours chart is looking bullish, I will assume that current price has already close to the floor of wave 2. If my assumption is right, I will have 2 decent targets for the short term. The first target will be on $8000 region as the Point of Control and the 2nd target is at the golden pocket zone around $9000 region. My analysis will be invalidated if the price breaks down the $6600 region as the last defending support.
BITFINEX:BTCUSDLong
by julio24albert
XAUUSD "GOLD" Sets to Resume Wave 5 RallyGold has been making an impulsive advance since August 2018. According to Elliot Wave Theory, a five-wave move is known as an impulsive wave and sets the direction of the major trend. Gold seems to have completed wave 4 corrective pattern, as the correction terminated at upper boundary channel that connects wave 1-2 extends to the high of wave 1. The level also lined up with 38.2 Fibonacci retracement of wave 3 advance. Breaking down to lower timeframe: The price made a five-wave impulse in wave (i) from the 1446.07 area, and subsequent corrective move is an a-b-c expanded flat pattern in wave (ii). The correction also terminated at critical support circa comprising of 61.8 Fibonacci retracement, 1.236 extension of wave a of flat, and wave c support trendline. If this count is correct, Gold should resume higher from or near the current level, the breach of 1473.08 will confirm that wave (ii) has really bottomed. And if price trade below the invalidation level on the chart, I will need to review the analysis. What's your thought about Gold? Kindly let me know in the comment. Thanks, Veejahbee.
FX_IDC:XAUUSDLong
by Veejahbee
2
AUDUSD Made A Double Bottom at a Critical Support ZonePrice is sitting at key support, which is in confluence with 61.8 Fibonacci retracement. Price has also made a double bottom formation at the key confluence zone. Price should resume higher from or near the current level. The breach of the confirmation level indicated on the chart will further confirm the bullish setup. If the price moves above 0.6800 confirmation level, it would have broken the high of wave iv of an ending diagonal pattern and a descending trendline, which is a strong signal for trend resumption. What's your thought on AUDUSD? Kindly let me know in the comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
4
Confluence Set Up AUDCAD for Potential RallyAUDCAD reversed from a daily ascending trendline that lined up with 61.8 Fibonacci retracement of the advance from 0.8903 and broken out of daily descending trendline. Price also broke the daily counter trend line structure and it's currently retesting it inline with key support, and descending trendline. Price has the potential to move higher from or near the current level and rally towards the resistance with 1.236 and 1.618 extensions as indicated on the chart. This setup remains valid as long as the Invalidation Level at 0.8966 remains intact. What're your thoughts about AUDCAD? Let's discuss this in the comment. Good Luck! Veejahbee
Long
by Veejahbee
Elliot Wave: EURJPY Set Up for a Massive Advance The five-wave rally from 119.25 in wave (i) favors the idea wave 2 ended at 119.25, and wave 3 is underway. It also set the stage for a three-wave correction, which is unfolding as a double zigzag pattern. I anticipate that wave (ii) will find support circa at 119.560 area, comprising the 78.6 Fibonacci retracement of the advance from 119.25, a key support level, and retest of the weekly descending trendline. The invalidation level has been indicated on the chart, and the breach of the green line will confirm the pullback has bottomed, and that may trigger upside acceleration for wave (iii) of 3. Kindly let me know your thoughts in the comment. Thanks for reading! Veejahbee
Long
by Veejahbee