Get started

Expandedflat

ETH Long to to 850If you are going to tell me that a double top pattern is forming, then you are very correct. There is an obvious double top forming, and I can see that. The RSI, MACD, and EMAs are also bearish, and I can recognize that too. Call me crazy or whatever you names want, but I still think Ethereum can go even higher in the short term. I base my analysis primarily on Elliott Waves. If we count the waves, we only are on wave 4, meaning we could possibly reach $1000! I tried multiple count variations, but I don't see how wave 5 already occurred. What I believe is happening is an expanded flat. That type of pattern is the one of the trickiest correction patterns since the corrective waves (and not the impulse waves) achieve the high. If we look closely, we see that wave A is an ABC correction, wave B is a ABCDE correction in the form of a rising wedge, and wave C is simply a 12345 impulse. If the count is correct, Ethereum should start impulsing soon. imgur.com Nonetheless, if you do decide to take this trade, manage your risk carefully. There are many bearish signs, and many people are starting to take profit. Still, I trust in my Elliott Wave analysis and believe that there are enough people with FOMO to drive the prices up again.
BITFINEX:ETHUSDLong
by aoeuaoeu
Possible Expanded Flat in NZDUSDTenemos la formación ya de una corrección ABC, pero se que todavía no esta finalizada porque sigue habiendo divergencia en MACD, lo que nos confirma que será una Expanded Flat. Después de esa onda C, buscaremos una entrada en cortos en algún lugar del nuevo impulso, con un Take Profit en el -27% de Fibonacci. ----------- We can see an ABC pattern, but I know it still not finished because there's still exist a divergence in MACD, that confirms it will be a Expanded Flat. After that C wave, I'll find an entrance in somewhere place of the new impulse, with Take Profit in -27% Fibonacci.
by losada15
NZD/CAD - POTENTIAL EXPANDING FLAT We can clearly see that the pair is still in a correction, specifically in an Expanding Flat according to my view. Legs a and b have already been completed and I am now anticipating the 3 and final c leg to finish up to the 0.9080 levels. One more small move to the downside (0.8610 level) is possible but the overall bias is to the upside. One more confirming factor is that we also have a Bullish Divergence on the Weekly TF. My personal details: Long @ E: 0.8780, SL: 0.8700, TP1: 0.8920, TP2: 0.9080, RR: 3.75 For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss. Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market. This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Long
by Aqua_Trader
1
GBP/USD - Long-term count sees a major expanding flat developingCable is fighting a lot of opposing forces at the moment. The rally in wave 1 stopped just below the 30 year horizontal resistance-line. This line acted as support for Cable since January 1986 and was broken in June 2016, which shifted its position from support to resistance. However, I think the dip below soon will break back above this horizontal pivot point near 1.3700. From an Elliott wave point of the view, my long term count shows that an expanded flat B -wave is developing. We saw wave A rally from the 2009 low at 1.3504 to a high of 1.7191 in July 2014 from where wave B took over. The decline in wave B became almost exactly 138.2% longer than wave A and completed with the test of 1.1950 in October 2016 from where an impulsive rally is expected in wave C. We saw wave 1 rally from the 1.1950 low to a high of 1.3658, just below the horizontal pivot point near 1.3700 and the correction in wave 2 is currently developing, for a decline close to the support cluster between 1.2780 - 1.2822 from where a strong rally is expected in wave 3. The long-term cycle analysis also supports a rally in the coming years. The long-term cycle bottom in November 2016, whereas the price bottomed the month before. The next cycle peak is not seen before November 2020, which supports the expectation of a continuation higher over the coming years. Do you want more like this see: elliottwavesurfer.com
by EWS
Feeder Cattle - Testing resistance near 159.00 The expanded flat correction in wave 4 continues to unfold as expected and should ultimately make it higher to the ideal target near 170.00. Short-term Feeder Cattle is testing solid resistance near 159.00, which might cause a consolidation, but ultimately this resistance should be broken for the expected rally higher to 170.00 to complete wave C of 4 and turn prices lower in wave 5 to below 118.90. Only an unexpected break back below support at 151.75 will indicate that the correction in wave 4 completed early and wave 5 is developing.
QLong
by EWS
$EUR vs $CHF 4H Chart 5-wave sequence completion|#eur #chf #fxTraders, EURCHF is close to complete the 5-wave sequence. Wave 4 (cirlce) corrective wave is probably forming an Expanding Flat Pattern. 1 - Wave-(a) has developed into a ZigZag with internal 5-3-5 structure, ending at 1.12589 2 - Wave-(b) has developed into a Zig-Zag with internal structure 5-3-5, ending at 1.16233. 3 - Wave-(c) should develop a 5-wave sequence, targeting at 1.1170(+/-) / Short term sell opportunities. After expanding flat completion will look for long opportunities targeting 1.1730 for the last 5th wave. Trade with discipline Best
Long
by ChrisMark
1
CADJPY - SHORTING OPPORTUNITIESWe can see that the pair has formed a nice Double Top at a major level which is why I'm considering short positions for the near future. Looking at the bigger picture we could be in a Flat ABC correction, whichever the case maybe I'm looking towards the downside. A break of the upper trendline should provide even more confirmation, while at the same time we can see that a Bearish Divergence is in play. From a fundamental standpoint we have the release of Canada's employment figure today so pay attention as it will cause a lot of volatility. Trade safe and do your own due diligence before executing a trade. For further details such as Entry price, Stop levels etc join us at: www.valuedbusinessconsulting.com
Short
by Aqua_Trader
Bitcoin/USD - Support seen near 3,300Bitcoin is currently correcting in wave 4. My preferred count for wave 4 is, that a running triangle is developing. Wave C is currently unfolding and should see support near 3,300 for a rally in wave D closer to 4,378 or slightly above. Before turning lower in wave E to complete wave 4 and setting the stage for a strong rally in wave 5. The ongoing decline in wave C, should mark the lowest point for the ongoing correction in wave 4. Looking back at the previous impulsive rallies, we can see that the fifth wave normally extends, if this also is the case this time, then wave 5 could move all the way up to 9,150. The alternate count for wave 4 is that an expanded flat correction is developing. If this is the case, then the correction in wave 4 should be close to completion for a new impulsive rally in wave 5. Under this count a break directly above 4,980 should be seen. This is my alternate count, but none the less a valid count.
BITSTAMP:BTCUSDLong
by EWS
$EUR vs $GBP 4H Chart.Hi-Prob. Reversal Near 0.89790 |#eur #gbp Traders, I'm publishing EURGBP 4H Chart even if you can find my view in a daily log scale in my published ideas, for a closer view and a better understanding of the structure and the targets. Daily Chart Since 06.10.2016 the pair has started the correction developing a five-wave sequence, A-wave (circle) ending at 0.83046. So far B-wave (circle) has possibly unfolded into an expanding flat developed into 3-3-5 internal structure - - 1 - Wave- developed into a ZigZag internal structure 5-3-5, ending at 0.88523. 2 - Wave- developed into a more complex Zig-Zag with a deeper b-wave, ending at 0.82970, slightly breaking -wave's origin (0.83046) for 7 pips. With that in mind and if the wave was developing into a 5-wave sequence, we could expect a break of -wave's end, extended up to 23.6%fib - 38.2%fib extension. 3 - Wave- developing into a 5-wave motive structure, expecting internal (5)-wave to develop into an expanding ending diagonal, ending at 0.89790(+/-), where many Fibonacci measurements cooperate, pointing a High-Probability reversal target. If price finally reverse, a big drop is expected, targeting 0,79550(+/-) with a 5-wave motive C-wave (circle), completing the correction with a Zig-Zag. Trade with discipline. Best
Short
by ChrisMark
33
Feeder Cattle - In a running or expanded flat wave 4 It has been a while since I last updated my count on Feeder Cattle. In my update from August 8 - 2016 I called for wave (A) to be in place at 134.25. The price-action that followed, doesn't really support wave (A) having completed and therefor, the preferred count has been changed, to this count, which shows that only wave 3 completed at 134.24 and the ongoing wave 4 is now in wave C higher of an running or expanded flat, towards at least 144.60 and likely higher to 151.00 in a running flat. If, however the top of wave A at 151.20 is taken out, the target should be closer to 160,50 in an expanded flat correction to complete wave C of 4 and setting the stage for the final impulsive decline in wave 5 of (A). But for now, we should keep our focus towards the upside for a test of resistance at 144.60.
QLong
by EWS
2
FINAL PUSH by USD Confirmed (Short then LONG for a long time)..Hi All, As forecasted, I was expecting a final USD fight back for the next few weeks and it has definitely started turning with a sharp fall which I have labelled as wave C. Below is a quick update of my count and summary of what I am expecting this pair to do over the coming weeks. Forecast : Starting from the low at 1.03411 Wave 1: Leading Diagonal impulse move to the upside. Wave 2: This move is still incomplete but it wave A and B are complete. Wave A is a double ZZ combo (WXY), Wave B is a complex Flat which went higher than Wave A which indicates that this is an 'Expanded Flat' corrective pattern. Forecast wave: Wave C short has well and truly started and I have wave 1 and wave 2 complete. Wave 3 is currently in progress with an extension range mapped out. It clearly broke past 1.618% and 2.618% so the next possible target is 423.6% or 686%. Just a word of advice, 'Don't catch a falling knife' as wave C are very impulsive so pick your entries carefully. My suggestion would be to wait for wave 3 to complete and a wave 4 consolidation will happen so look for possible shorts then. The best situation would be a wave 4 triangle as it is a terminal move so expect a wave 5 break out after the wave 4 consolidation. On the completion of this wave C, I am expecting a bigger wave 3 to the upside for years to come so that is what I am aiming for. Happy Trading all and feel free to comment / ask questions. Cheers Don
Short
by donaldsaw
1