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Fourthwave

EURUSD: Temporary Pause Before Headed Higher Again EURUSD has been in a nice and strong recovery from 0.9730 from where we can count five waves up, up into wave 3 from where we have seen a nice reversal south as expected. We see this as a contrat-ternd reaction on the 4h chart. It's wave 4 that is now already in a subwave c so there can be some support coming in, in the next few sessions. The first one is at 1.0440, while the deeper supports are at 1.0293. We will expect a bounce up into fifth wave this month. GH
by ew-forecast
Santa Does Not Come to Bear MarketsA fierce face-ripping rally characteristic of bear markets caught shorts out on Winter Solstice, but should not be mistaken for anything than another bear rally. We have had a number of these all year long. This is no different. The .382 fibo aligns with 50 MA at the higher structure neckline, an ominous triple coincidence. IMO this move is consistent with an Elliot Fourth Wave, with a Fifth Wave final plunge yet to follow. Highlighted RSI graph, notice the Twin Peak Things in prior cascade. We are lining up with Thing Two. After the Things visit there will be quite a mess to clean up imo. IMO it is very unlikely that a real rally begins here, although Santa could bring a few days of holiday cheer, Mr Grinch will be just around the corner to spoil the holiday party. Historically a Santa rally does not visit bear markets. Signpost marker on Weds 28 Dec is purely notional based on overlay. In fact, another decline could begin at any time. Lot of resistance present at highs near 3890 on 12/21. Futures at time of this writing suggest a notch higher still. Projections are notional based on repeating pattern from Aug-October decline. So far has followed along pretty closely. IF the pattern repeats, we could be looking at 3640 on the Left Inverted Shoulder low by Monday 9 Jan 2023. This projection suggests a Right Inverted Shoulder may form; in fact an even lower low could emerge in January! Either way, an even weaker rally might ensue thereafter in the weeks leading up to FOMC on 1 Feb, likely to be another trigger event. IF the pattern mimics 2009, a waterfall cascade in Feb/Mar 2023 will see capitulation and real panic to conclude the Great Bear of 2022.
TVC:SPXShort
by DaddySawbucks
5
Cable's Elliott Wave Looks BullishThis dip in GBPUSD brought the fx pair down to the top of a 14-year broken resistance trendline in an anticipated wave ((iv)). Based on this move alone, it would be extremely bullish pointing to significantly higher pricing. It is possible the fourth wave is over and GBPUSD will accelerate higher in a 5th wave. 1.44 are minimum and immediate targets with much higher levels underway. The larger 25-year pattern suggests levels up to 2.00. A derivation of the wave count above is that wave ((iv)) will be a triangle pattern. This suggests prices slop around sideways for a few more weeks. Under both scenarios, GBPUSD is bullish will holding above 1.3483. Considering the size of the 25-year pattern at play, this is a good one to follow. Good luck!
Long
by JWagnerFXTrader
XAUUSD Elliott Wave Forecast - Fourth Wave Still in ProgressHello all, Price achieved 1800 today and had an initial bounce of the horizontal support. It's possible that it can drop into the 1750 - 1760 zone. The corrective structure is still in formation. As mentioned in my previous idea, expecting to see a lower degree correctional structure forming over the next month to get a better idea of where the best possible entry will likely occur. Price action will likely be choppy. Follow me for more updates on this one. Trade safe, Beyond Edge 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 analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
OANDA:XAUUSD
by BeyondEdge
XRPUSD - Triangle as fourth waveHello everyone, Feel free to comment and subscribe if you like. Do keep in mind that this is not trading advice, and that you should always make up your own mind. That being said, XRPUSD appears to be forming a triangle as a fourth wave. We have several strong levels of support around $0,2056 and $0,20, and I would expect that last wave of this triangle to stop somewhere in there. A true stop would be at $0,1977 or lower, which is the top of the first wave. The support zone is $0,2056-$0,20 also coincides with a trendline that is still respected so far. Personally, I will be placing a scaled buy order in this zone. Projecting the end of the fifth is tricky so far. For starters, I will be using the height of the triangle from around the present level of $0,215 as a cautious start, which would give a target around $0,245; a very nice risk-to-reward for such a trade. This area also coincides with the fourth degree of the last impulse wave on a larger degree. The DMI isn't showing divergence yet, but I expect it will do so when it reaches the support zone on the last wave down on this triangle, which would be confirmation for a long position. Let's see how things work out!
BITFINEX:XRPUSDLong
by Pvgeldrop
2
Sand Path to Ultimate ATH 4K: Road Map for 2020 and BeyondPure WAG and sheer speculation. Absolutely NOT investing advice! This post is strictly for your amusement only; intended purely to entertain, so enjoy! NB: Near-term some sort of correction is due, index trading >2SD above 50DMA, RSI overbought near 80; absent a Fed Hike on 28/29 Jan, expect a modest pullback. The monster break of Feb 2018 is unlikely to repeat now without adverse Fed rate action, but ofc anything is possible in this nutty market- not for faint of heart! In 2019 every correction started on the day of the Fed meetings, in May, July and September... IMO history likes to repeat, seems like a good bet. Could start now, from Friday's close at 3330! The down move could be a 6-10% correction, deeper is doubtful, but possible; it's a 4th wave and these tend to be tricky trading. Expect wild choppy swings like we saw in August- whipsawing, don't get your hands cut off! Save ur cash for Wave 5, it will be a terrific long play! After this move completes, what comes after is anybody's guess, but this market has shown a proclivity for double tops, IMO is likely to do so again; pre-election jitters likely may start a deeper correction in Sep/Oct. We had a Bullish October in 2019; a Bearish one in 2020 is a likely consequence IMO. Beyond the election: entirely depends on the Donald pulling off re-election; as an incumbent with enormous cash to burn, his chances are better than 50-50 IMO; I expect him to win it, when he does, markets will rocket to the Moon- the 2.618 Fibo extension is certainly within grasp up around 4128! Again, this post is pure Wild-Assed-Guessing, the tail WAGs the dog, GLTA! Be careful, be cautious, be prudent at this juncture! -DS
TVC:SPXLong
by DaddySawbucks
52
US 30 preparing for parabolic?In Mid-Nov there is a critical inflection point at 27300 at support from consolidation zone and rising TL in this bullish impulse. At this writing, DJIA index rests just at or above long TL reaching back to Jan 2018 top. Equities have advanced for >5 weeks. A small, brief pullback seems likely. If it gives a price relaxation back to the breakout zone at 273, that could be a long entry opportunity for a parabolic mad dash akin to the Jan 2018 explosion. We've had several uncertainty Dojis, a shooting star and a hanging man. Modest bearish price action is likely to be brief; if you're short, take what the market gives. This isn't investing advice, just an observation with inference. ANYthing can happen now; GLTA!
DJ:DJILong
by DaddySawbucks
QQQ Breakout Fifth Wave Expected SoonAfter a couple of modest down days we see that intraday QQQ did close the gap from 9/5/19 and bounced to fill today's gap down as well. Index is primed and loaded for final push to double top and possible new ATH. I bought Sep 190 calls and sold the Friday 13 192's to hedge. Looks like end of a Fourth Minor Wave, IMO; The EW is now evident and P/C ratio is up again, VIX was up today, bearish sentiment means time to bullup again. Intraday at 2:15pm we see an A-B-C correction following a 5-wave minute EW bullish impulse from noon. Expect EOD short covering rally and higher by EOW. Short again when sentiment reaches bullish high. GANN: Most new ATH occur in September! A real possibility. Would not short this Cup & Handle formation! Terrific bullishness in RUT leads the pack, other indexes should follow suit. DJT is also bullish, which is a leading indicator. As usual, just an idea, not advice; trade at ur own risk, GLTA!
NASDAQ:QQQLong
by DaddySawbucks
11
ADA Elliott Wave analysisADA has currently completed 5 subwaves of the third wave. The RSI is displaying bearish divergence, where the price goes higher, but the RSI does not. This could indicate that ADA is losing strength even though the price is increasing. This is further supported by the declining volume and rising wedge pattern, which show that the amount of buyers are decreasing. Possible shorts could target the 0.382 fib regions. A drop in price in wave 4 can also provide an opportunity to load up on longs for the fifth wave. The 0.682 to 0.5 fib region is strong support as it is just above the previous high. Elliott Wave rules dictate that wave 4 cannot retrace past wave 1, except by a wick in leveraged markets. On the bigger picture ADA is almost complete a larger scale fifth wave. Besides a fifth wave extension, which could very well happen if Bitcoin surges, ADA will soon make a larger correction after a short term rally, possibly dropping 20% from its local high.
BINANCE:ADAUSDShort
by aoeuaoeu
LTCUSD - 30m - Zig-zag correction to $80The chart should speak for itself. We previously had a complex correction, so should be getting a zig-zag correction now. The A-wave appears to have finished, after which we'll head for the area of $76. Wave C should be reaching $80; this corresponds to a correction of nearly 78,6% retracement of the previous wave, over 100% extension of wave A, be near the terminus of the previous fourth wave of a lesser degree and match the parallel channel in this impulse wave. I suggest a stop-loss just underneath the terminus of the previous wave at $75, giving this trade an R:R of 2.8. Happy trading! Disclaimer: I am not responsible for your trading actions. Any action you wish to take based on this prediction is solely your responsibility. :-) PS: Though the volume after the previous fourth wave of the lesser degree is higher than in the wave before that, I believe that is because this is an extended fifth wave.
BITFINEX:LTCUSDLong
by Pvgeldrop
1