Get started

EW

Gold with amazing swing opportunityHello Community, Technical: Please see my current idea on Gold where my overall count (weekly chart), suggests an impact of our major wave 5 at the $ 2500 area, which is equal to the 0.618 Fibonacci extension. Fundamentals: We are currently in an inflationary environment, which we know should be good for gold. However, gold has failed to test its all-time highs, despite the burden of inflation. The sideways movement that we have known for a few months is due to the technical aspects. I think that given the current fundamental circumstances, the price of gold could make new highs as inflation, once it emerges, won't go away anytime soon. Unfortunately, drastic interest rate hikes will not help either. Central banks should realize and know this, that is why I am expecting them to increase their gold reserves in the coming months, which should help gold prices to rise. This is no financial advice. RT
OANDA:XAUUSDLong
by RT_Trading_
3
Gold - Bullish breakout catalyzed by FOMCHey Trader, please see my current idea on Gold where my chart suggests a long swing to around 1890 area. This is due to the fact that we might be currently in a bullish wave 3. I expect this since we didn't make a new low and wave 2 has to form of a Flat correction. Please keep in mind: Trading ahead of FOMC is very risky. I'm willed to take this risk as I have a really good entry that is now already with stops on Breakeven. This is no financial advice, just my technical expertise. RT
OANDA:XAUUSDLong
by RT_Trading_
2
Bear Market Truncation $BTCElliott used the word “failure” to describe a situation in which the fifth wave does not move beyond the end of the third. We prefer the less connotative term, “truncation,” or “truncated fifth.” A truncation can usually be verified by noting that the presumed fifth wave contains the necessary five subwaves, as illustrated in Figures 1 and 2. Truncation often occurs following a particularly strong third wave. Truncation gives warning of underlying weakness or strength in the market. In application, a truncated fifth wave will often cut short an expected target. This annoyance is counterbalanced by its clear implications for persistence in the new direction of trend. Key Takeaway: A truncation suggests underlying strength or weakness and an impending market reversal.
INDEX:BTCUSDShort
by TakeGains_
2
btc in an ABC correctionthe move down from the 69k top is a clear zigzag (purple circled abc) correction and the first part of an even bigger correction. this means that this abc is wave A of an ABC of a higher degree (red circled abc) my assumption is that the choppy move in the rectangle still belongs to the first part of the correction and will end at approx. 44.8k, before another move to 56k starts, which is B of the macro ABC From B we will see another leg down, equal to A in length, which will become the C wave and the end of the correction. note: it is possible that A is already done and wave B started at point B (lilac ABC) in the rectangle at 45390. i keep that in mind too. i hope you enjoy the content. pls feel free to like and comment below. best, waverunner
CME:BTC1!
by xwaverunnerx
21/12/28 - Gold started its next bearish impulse Hey Trader, please see my latest idea on Gold. We finally hit our target from our longs and based on the current price action I am confident with my second scenario for the midterm Gold cycle. I am very confident that we will see prices way above 2000 Dollars, but before that I am expecting 1750 - 1640 area first in order to grab the liquidity we need for the last wave 5 in Gold in order to hit new all time high's. I entered my short positions based on the knowledge that wave 2 needs to retrace at least 50% of the first impulse. As I saw this 3 waves pattern building up I decided to not wait and enter there in order to hold my short swing for midterm. Please keep in mind: This idea represents just my opinion and my technical expertise. I am open for feedback if its constructive and reasonable. Let me know what you think For further informations please see below. RT
FOREXCOM:XAUUSDShort
by RT_Trading_
5
Possible BTC bottomHello everyone, Today I would like to go through a scenario with you in which the Bitcoin may have found a possible bottom. This view opens up to me, since the wave cycle for wave C seems to be complete if counted more precisely. I am assuming that waves 1 and 3 are similar, which is why wave 5 has to be the longest. If we look at wave 4 and we count the retracement of this wave, it becomes apparent that it has retraced more than 50%, which according to Elliot Waves could lead to a possible failed fifth and thus to a higher low. This is a very rare case that I wouldn't normally trade like this, but since wave 5 has taken the form of an ending diagonal, the chances of going long here are very good. A confirmation for this count would be around 53466.35 USD for me. This is not investment advice, just my technical expertise. RT
COINBASE:BTCUSDLong
by RT_Trading_
3