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CORRELATION - PATTERN TRADE SETUP- ELLIOT WAVE (60m)Morning! Looking at the correlations in excel for today, EUR/USD + GBP/USD have a very positive correlation (93.9) for the hourly This means USD is countered, i.e it becomes EUR/GBP > also waiting on retracement from the FIB EXT level of 127.20%, this will complete D, and will be a good time to sell if the price reverses from that area. Elliot Wave - I have included a correction, (0ABC) Be conservative on your trading, and look for entry points around the white line (0,72887) via a retracement of 127.20%! All the best in your trading! CharlieFX
Short
by proptrading
USDCAD: LONG & SHORT SETUPSHi Traders, There are two trade setups I have identified on this pair, one long and one short. The bullish 2618 setup is as follows: Entry - 1.33430 Stop - 1.32950 Target 1 - 1.33930 Target 2 - 1.34180 The bearish Gartley setup is as follows: Entry - 1.34010 Stop - 1.34450 Target 1 - 1.33670 (at the 38.2% retracement of the CD leg) Target 2 - 1.33440 (at the 61.8% retracement of the CD leg) I haven't left the CD fib retracement on the chart as there would be too many lines, we need to see what we are doing! These two setups are not mutually exclusive however we must hit the 2618 long before moving higher into the Gartley entry. If we close above 1.33950 without a chance to enter the 2618 I will no longer be looking for that trade. Good trading, Luke
by Beebags
Copper yet has not bounce but still can do it.This is a follow up of the last elliott wave analysis published 8 months ago www.tradingview.com The basic change is in the extended 5th. The diagonal as we expected did not work due keep the original wave count as originally stated is impossible due now will see the 3rd wave as the shortest. This can't be even in diagonals. So the best way to update it is by extending the 3rd wave as a double zigzag and then count the following up sided zigzag as a wave 4. This give us space for the fifth wave that is getting near to the 1 to 1 proyection for the 5) vs the traveled from the start of 1) to the end of 3) measured from the end of 4).
COMEX:HG1!
by 7pasos
1
Bat Pattern, Eur/Aud, 1 hrHere we have a completed Gartley pattern in the positive deviation area of the last 100 and 200 moves. According to my strategy , this market is likely to reverse down into the negative regression. As of right now, the market is retesting the high at point D and we should see a trade completion in the next couple of hours. Anyone that has been following my trades knows that last week I had a very bad week and I am making a minor change to my strategy for the week , until we recover from our losses, i was previously trading all harmonics to the 1.618 extension of the BC leg, but as of this week , i will only be trading harmonics to the .618 extension , just for a guaranteed close for profit. I have placed my trade actions as follows: Limit: point X Entry: point D Limit: the .618 extension of the BC leg Please like and comment if you agree or disagree respectively. And always follow me for more updates on market analysis and harmonic patterns , and recently a lot of wave theory's. And as always Good Trading Everyone!
Short
by Kylan_Laymance
Mirroring, Harmonics & ExpansionsI expect a mirroring of the price action from the left side of the B point. Thus the CD leg should have the same (negative) slope as the XA leg. Then I noticed that it would form a harmonic pattern and I checked out the harmonic ratios. Turnes out that all are fib ratios. The OTE sweet spot is actually a fib ratio, too, but not many know it. Out of interest I applied a fib expansion on the last beakout leg (broke out of inverse H&S) and the typical target 0.764 - 1 falls right into my previously established target area. To sum up, there is great confluence of resistance around 275 where I will be looking to sell. Rightnow at 245 it's still a clear BUY up to 270 minimum ! Also check out the MAGNUS® Cycles on Bitstamp daily. It just plotted a rare buy signal aswell ! You can find it by typing "magnus" in the search box within the indicator menu. Good Luck with your trading and take care :) If you have any question feel free to PM me or leave a comment bellow.
BITFINEX:BTCUSDLong
by MagnusTradingGroup
4
Gartley Pattern, Gbp/Jpy, 15minherre we see a fairly solid gartley pattern on the gbp jpy charts. like all gartley patterns , I expect the market to complete the patteren , and then continure to rally to the 1.618 extension of th BC leg. I have support form the linear regression channel, which suggests that the market is low, and should rally back up into the positive deviation. I have places my entry at point B , my stop at point X and my limit at the 1.618 extension of the BC leg. Thanks for checking this out, dont forget to like comment and follow for more Forex updates. As always Good trading !
Long
by Kylan_Laymance
EURGBP / 4HR / DOUBLE TOP 15MIN + SHORTHello traders, I'm looking at the EUR/GBP chart on the 4 hour time frame, but on the 15 minute, we've had a nice simple double top / 2618 setup. At the same time we have a trend continuation move and a 618% retracement from our swing high to swing low right where the double top has formed. We have taken the opportunity to short the market with stops and targets in place and you'll notice I've added an orange box, where our extended targets will be. Good luck trading today, may the pips be with you. Star Prosper Philip Stewart
Short
by UnknownUnicorn168204
Butterfly Pattern, NZD/USD, 1hrHere we see a butterfly pattern on the New Zealand , United States charts. I have given the market some space to complete the end of the butterfly pattern before continuing in a bearish trend, because the closer to perfect the pattern is , the more secure of a pattern it will be. I have placed all of my order actions in the usual places, with one exception. because the pattern has not completed, I have placed my stop at the previous structure above point X. I believe that the market will possibly rally to that structure and reverse from there. Following the reversal, I will trail my stop down to point X and hold there for retracement. Please comment any idea , opinions , suggestions, changes, it helps me become a better trader. also like and follow me if you think i am on the right track. As always thanks for checking me out, and Good Trading!
Short
by Kylan_Laymance
Price Action (Elliot Wave Maybe?) GBP/JPY, 30minHere I see a price action trade along the linear regression line with standard deviation set at 2 and -2. I also believe this may be an Elliot wave cycle. If i remember correctly, the third wave, should be about the same length as the first wave, so i have placed my limit at the 1.618 extension of the second wave, just to be safe (remember, still learning price action). I have placed my stop at previous structure and my entry is at current price, with any luck, we should see some profit here in a few hours. Thanks for checking us out, any pointers would be greatly appreciated, just leave them in the comments. Don't forget to like if you agree with the trade, and follow if you want to see some more trading As always, Good trading! I
Long
by Kylan_Laymance
Bat Pattern, AUD/JPY, 30 I see a Bat pattern in the AUD/JPY 30 min chart, around the 96.810 area. The market here seems to be in an uptrend, so it isn't bad to assume that the market could break out of consolidation and continue trend. But I believe since the market will be testing highs for the year, the market will complete the pattern and reverse down into the 1.618 extension of the BC leg, where i have placed my limit. My stop is placed at the top of the pattern and my entry is placed right around point B, just to be safe and keep a risk reward of 2:1 or better. Thanks for visiting, don't forget to like if you agree, or comment is you dont, i would love the feed back, i believe that trading view is here so we can use each other to learn from. And always follow, the reputation would be great for growing in the trading community. Thank you and Good Trading
Short
by Kylan_Laymance
NZDUSD: Measuring the Pullback for a Structure based ShortWe placed NZDUSD on our radar during yesterday's Live Room session and have been tracking it ever since. I apologize in advance, but the analysis that I did on this pair is somewhat advanced so I'm not going to attempt to duplicate what I shared with you in last night's Syndicate video. Honestly speaking it's a lot clearer on the 13 period range bar charts (as you can see in the link attached at the bottom). Following the I.P.D.E. process that I shared with you guys on Monday, I've come to the conclusion that until shown otherwise, i want to get short Kiwi. The difficult part was determining where. Initially I had 3 killzones (with in the larger potential reversal zone) that sparked my interest but as this pair ebbs and flows, i'm starting to get a clearer idea of which zone is the one I want to keep my eye on and execute the trade if given the opportunity. To determine my killzones I've used a combination of Fibonacci retracements, extensions, inversions and harmonic moves. I say given the opportunity because, having price action enter the zone or level isn't enough. I still need to find a reason for entry and I won't know if or when that will happen until we get there. For now all I can do is wait, watch and be ready to pull the trigger if it does. Good luck in the markets today traders! tradeempowered.com
Short
by Akil_Stokes
28
UPDATE: Bitcoin Bears Flexin' Their True Strength (Elliott Wave)For ease of viewing I am going to include the other possible valid count below. However, currently I am favoring the above count. The reasons why will be listed below. Note that both of these counts are overwhelmingly bearish on a higher timeframe. Any bullishness is going to be quickly and violently stomped out. Being long at this point is very risky, and being long below the red dotted line is financial suicide. Now for the important question: Why do I think this is the most valid count? Wave (1) is likely a leading diagonal Wave iv fits into the proper time targets (unlike previous counts) Wave A is a three Wave B isn't clearly a five or a three, however, it is most likely a three. Wave C is a three, I had originally expected it to be much larger and form a harmonic at 231/240, however this is unlikely due to the subdivisions of Wave C and the structure of Wave D Wave D appears to be a three, and also stopped at this trend-line very nicely. Note that a break under the red dotted line is a strong sell signal and a break above the green dotted line is a short-term buy signal. Since the upcoming wave is Wave E the best strategy here is to be getting short the closer we move towards the top trendline, or alternatively, immediately after the trend begins turning to the downside and/or we breakout out of the bottom of the triangle. So long as we don't break above Wave C being short here is a great position. If we do break Wave C fall back to my Long chart (targets 231/240) which will form a very nice bearish harmonic pattern before we finally take the plunge to new lows. "The Master's power is like this. He lets all things come and go effortlessly, without desire. He never expects results; thus he is never disappointed. He is never disappointed; thus his spirit never grows old." -Lao Tzu Good Luck Traders! :)
B
by Intuit
4
UPDATE: Bitcoin, Build em' up and Break em' down (Elliott Wave)EDIT 2: This chart was the obvious winner... Wave 2 are rarely triangles. This is the alternate count that I am currently favoring over the last chart I published (). Looking at the 3H and above there is a pretty big bullish divergence all the way up to the 12H. My original thinking, that I published in my other chart, was that since wave v (on the current chart) has so much momentum compared to wave iii, that wave v was actually the first wave of an extension. At this time it appears that it is actually a leading diagonal like the current chart shows, and that this is in-fact an extension, however, we have not completed wave 2 of the extension. What I had labeled as wave 2 on my original chart is most likely wave a of 2. I was simply eager for this big down swing that is on the horizon. Good news is that we can increase our positions by longing and then re-shorting the top :) The targets here set up some very nice harmonic patterns. The low target is 231 and the high target is 240. The low target 231 will create a very nice Gartley Harmonic, and the high target 240 will create a very nice Crab Harmonic. Depending on what the lower timeframes dictate, either one of these prices will be an extremely good short with a very tight stop-loss and very low r/r. As was said in the first chart I ever posted "Want what the market wants" do not want what you want! Let the new information organize itself rather than trying to massage it into old categories. One of the most harmful things you can do in trading is anchor on to an ungrounded belief. Nobody trades the market, we all trade our individual belief systems. When someone says that "you can't do this" or "the market will do this" they are really talking about their beliefs. If you learn to trade your individual beliefs about the market you will find that you end up seeing a lot more possibilities in all markets, and you end up profiting with much more ease. There are basically two kinds of beliefs: limiting beliefs and liberating (chaotic) beliefs. Many traders are stuck in a limiting belief system because they refuse to admit that they are wrong, or simply because they cannot see any other way. Once you learn to trade your limiting beliefs for liberating beliefs trading becomes much more like a leisurely stroll through the park, rather than an arena where you are fighting other traders to the death. Good Luck and Happy Trading! :)
BLong
by Intuit
6