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Ending Diagonal

EW Analysis: BNBBTC Remains Bearish: Wedge Pattern Formation?Hello traders! Today we will talk about BNBBTC and its price action from Elliott Wave perspective. BNBBTC is clearly bearish, but it's obvious that is slowing down. However, we still see room for more weakness, especially because of the recent three-wave intraday corrective recovey only. So, it's ideally unfolding a bigger ending diagonal (wedge pattern) into wave C that can send the price even down to important November 2018 and 0.0012 support level. The main reason why we think so is because BNB(Binance) is currently not so strong and we also believe that BTC dominance will come back soon, so all these evidences suggest that BNBBTC may stay under bearish pressure. Count would be invalidated only in case of a rise back above 0.0023 level. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Education
by ew-forecast
2
Breakthrough at AUDUSDAfter the long upward trend we see a weakening in the strength of AUDUSD. Over the past week we have seen several attempts to continue the movement, but soon after that, the price was coming back. Today we have a breakthrough of support and we expect that the correction can continue at least to 0.7077. This would allow new buyers to join there and give strength to the movement we have seen so far. Given the possible correction here, we expect interesting movements in the crosses with AUD with EUR and GBP. We already have one active position, and we will be looking for a second one today!
by ForexTrendline
KOSPI Composite index (KOSPI) - Bears is about to take over KOSPI Composite index (KOSPI) is in perfect impulse cycle in 4 hr time frame made from the bottom made in Corona Pandemic. The fifth wave is in ending diagonal structure, which should probably result in sharp decline. So stay bearish with stops above 2240 from current level as 2nd wave of A in ABC zigzag cycle. This is the perfect set up as world market also in choppy zone or bearish territory. The target zone of pattern will be below previous 4th wave of impulse cycle, means around 2000-2050 level. Great set up that every Elliottician love to trade.
KRX:KOSPIShort
by EWFcw
SPX Ending Diagonal Almost CompleteIt certainly looks like the rise since June 15th lows on the SPX is shaping up like a classic Ending Diagonal. I have put the wave counts as best I can fit them. Today's rise on the surface didn't "look" complete to me and I put good odds of pop up tomorrow above the upper trendline - what Elliot called a "throw-over" and which I usually just call an "overshoot" which classically traps new bulls in - before reversing quickly - either the same day or within 1-2 trading days at most. IF however prices rise above this trendline and continue the movement impulsively and close the week above it - then this ending diagonal count gets seriously called into question - but so far price has been respecting it including the upper trendline resistance. We need to see a break of the lower trendline to have a confirmation the ending diagonal is complete and the bearish trend to the downside has begun. It is to be noted that classically ending diagonals retrace to at least the beginning of the move - which in this case would be a move down to 2965. Cheers! Cyrus
SP:SPXShort
by cyrusgr8
8
SPX CASH INDEX FORMING ENDING DIAGONAL FINAL HIGHUpdate on my last post on SPX futures but this time on the cash. My opinion that an ending DIagonal final wave C (in the Bear Market Rally since March lows) is being formed has not changed. Ending diagonals can be tricky creatures and we often see short-term sharp overshoots of the top trendline in the final 5th subwave. The above count is the worst-case scenario I see for the bears. We should end this ending diagonal anytime in the next 1-3 trading days so the final subwaves I have shown rising above are not necessary but I believe based on the latest price action a very real possibility to give the "right look" to the ending diagonal. Link to my longer-term Elliotwave counts on the S&P 500 futures is below. Cheers! Cyrus
SP:SPXShort
by cyrusgr8
1
Will it turn EURUSD?Last week we expected EURUSD to rise, but we were looking for the strength of the euro in EURGBP. We are now seeing a gradual depletion of the downward movement, which we see as a correction and expect a reversal. In order for the entry to be confirmed, it is good to see higher bottoms and higher peaks. All entries before that are risky, because there may be once again lower values. Be careful! Resistance levels: 1,1240 1,1281 1,1346 What do you think? Do you have EURUSD trade?
Long
by ForexTrendline
59
XAUUSD - Ending Diagonal - End Of Correction?Here is a Elliot Wave Triple Three correctional combination which began since the last impulse move reached its peak (1689) in February. The Zigzag pattern you can see between wave X to Z is the final corrective pattern of the three combinations which implies that the correction is coming to an end. Further confluence is provided by the nature in which the final set of waves are forming. They are coming together in an Ending Diagonal . Ending Diagonals are commonly found at the end of a Wave C in a correctional sequence. I see this final wave coming to at least 1650 according to the general guidelines, and then a wick out anywhere down below between the 1650-1630 zone. From there we could see a new yearly high with an initial target of 1787. Further wave extensions are coming in at 1808, 1833 and 1846. This is a long term target (quarterly and biannual) which only serves to provide an indication of the current direction. Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for educational analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
FX:XAUUSDLong
by BeyondEdge
XAUUSD - Ending Diagonal - End Of Correction?Here is a Elliot Wave Triple Three correctional combination which began since the last impulse move reached its peak (1689) in February. The Zigzag pattern you can see between wave X to Z is the final corrective pattern of the three combinations which implies that the correction is coming to an end. Further confluence is provided by the nature in which the final set of waves are forming. They are coming together in an Ending Diagonal. Ending Diagonals are commonly found at the end of a Wave C in a correctional sequence. I see this final wave coming to at least 1650 according to the general guidelines, and then a wick out anywhere down below between the 1650-1630 zone. From there we could see a new yearly high with an initial target of 1787. Further wave extensions are coming in at 1808, 1833 and 1846. This is a long term target (quarterly and biannual) which only serves to provide an indication of the current direction. Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for educational analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
FX:XAUUSDLong
by BeyondEdge
EUR/USD 1 hour chart ending diagonalHello Traders, it look like EUR/USD uptrend is coming an end, price has been rejected several times from march 20 high (Resistance level now) and it also looks like an ending diagonal pattern it's on the way which tipically are formed on wave 5 or waves C . RSI and Stochastic are showing divergence indicating a possible reversal. for this analysis to be valid we will be looking for a break out below ending diagonal pattern support line
Short
by AlexPalmaFXTrader