USOIL - Elliott wave – update - waiting minuette wave (iv)
USOIL - Elliott wave – update - waiting minuette wave (iv)
invalidation over 82.85 - next minuette (iii) at 81.83
Motivewave
$SNAP Elliott Wave analysisHere I teach how to identify corrective structure, how to count motive waves, and how to get upper price targets as well as retrace levels for counter trend movements
Hope this can help someone :) -BensStocks
EURUSD - Elliott wave – update count wave – wave (iii) up
corrective ((a))((b))((c)) is ended - motive wave up should follow in minuette degree
minuette (iii) unfolding extended
ALT: motive wave down is still running in wave iv
1.1962 critical price area FIB 0.3862
critical price area
previous daily close 1.1925
PP 1.1915 UP
BTCUSD - Elliott wave – wave 5 in progress
wave 4 over - motive wave should follow to wave 5
motive wave ((1)) ended at 28800 area
corrective wave ((2)) unfolding to 38400 area
ALT: 5 is over - motive wave should follow
lets monitoring price evolution
critical price area
previus daily close 33032
PP 34829 DW
USOIL - Elliott wave – update count – wave 5 unfolding
minor wave 5 unfolding -motive ending diagonal triangle - 5 waves zigzag
zigzag minute ((i)) ended
zigzag minute ((ii)) unfolding
ALT: minor wave 5 unfolding - motive impulsive - minute ((iii)) still running to/through 76.99
critical price area
previus daily close 73.24
PP 73.60 DW
EURUSD - Elliott wave – micro wave ((2)) - monitoringmicro wave ((2)) is over – wave (1) of ((3)) of iii is running.
(1) must move motive – test price area 1,2195 – pivotpoint - FIB: 1.2199
ALT: wave ((2)) still running in a complex corrective mode
critical price area
previus daily close 1.2180
PP 1.2195
FIB: 1.2199
static S/R 1.2161 - 1.2239
volatility D 1.2142 - 1.2230
EURUSD - Elliott wave – monitoring micro wave ((3)) of submin v
prevailing scenario
wave (ii) maybe over in abc subminuette correction
monitor prices evolution in a motive mode
wave ((3)) of v unfolding - first target 1,2189 fib 1.618 wave ((1)) ext
ALT: continuation of wave (ii)
possible expandig flat in 3 waves
critical price area
previus daily close 1.2148
PP 1.2145
FIB 1,2189 fib 1.618 wave ((1)) ext – 1.2233 fib proj wave v (double extention 3/5)
static S/R 1.2182 critical R
volatility D 1.2130-1.2223
URUSD - after ((X)) or 1 - wave v going to start?
wave iv ended in ((a))((b))((c)) flat - balanced in time and size
wave v unfolding
violation of 1,2125/30 area and/or time delays in developing
would invalidate the idea
ALT: reconsider the abc hypothesis
URUSD - after ((X)) or 1 - motive wave i-v hipotesis prevails
momentum for now shows no signs of a change in the trend
abc hipotesis loses strengh
motive wave i-v hipotesis prevails - test at 1.2131 (fibpoint 0.382) - wave iv
let see
XAUUSD wave (C) ended - motive wave down unfoldingwave (C) ended -
wave (i) ledaing triangle
wave (ii) flat - target area 1783/1789
EURUSD: Bulls are back ? On EURUSD, price failed to break the supply zone that we have around 1.19 and is going back up. Thus, we are only looking now for buy setups, and if the price reaches our previous support, which is now a non-horizontal resistance (green), we will look into lower timeframes for sell setups.
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MacroForex
EURUSD: Last Bullish Wave of the 5th WaveJust like the dollar, EURUSD is in the midst of completing its 5th motive wave of a 9-month Elliott wave.
The euro weakened a little and consolidated just before the ECB announced increased bond purchases.
Upon the announcement, EURUSD gained on selling expectation and buying the fact.
It managed to stay afloat just before the week ended, thus we can assume that EURUSD hasn't finished its bullish momentum.
Simply long EURUSD as it pulls back to the lower band, or within the price range of 1.21 - 1.2050.
P.S. On a side note, we do not presume that EURUSD will definitely climb in the coming 2 weeks. Do decide on where to cut your losses should things go south and be flexible enough to change your trading plan.
MULTI-TIMEFRAME ANALYSIS - GBPJPY1W Analysis
As expected the pair headed to re-test the 1W resistance along with its resistance zone but failed to break either of them. If the pair were to follow suit from our previous analysis we could see the pair break both resistance zone and resistance of the 1W descending triangle then head towards the next resistance zone.
1D Analysis
The pair closed as a bullish spinning top after being rejected by the 1W resistance zone but above the 1D resistance turned support zone. A successful bounce off the 1D support zone could case the pair head towards the 1W resistance zone once more and potentially break it. However if the pair fails to gain enough momentum we could see the pair fall towards the support of the 1D ascending channel.
8H Analysis
The pair recently closed within a 8H ascending channel after being rejected by the 1W resistance zone but seems to have bounced off a 8H support zone. The rejection from the 1W resistance zone could be the 4th cycle of the Elliott Motive Wave and the bounce off the 8H support zone could be the start of the 5th cycle. A break below the 8H support could indicate that the 4th cycle of the Elliott motive wave is not yet over and is extended into a corrective wave. However if the pair gains enough momentum we could see the pair break the resistance of the channel and in turn possibly break the 1W resistance zone.
4H Analysis
The pair closed its last candle as a bullish spinning top and the candle prior as a hammer after bouncing off the 8H support zone, this could be an indication of a potential buy. If the pair closes above the last LH structure of the pair we could see a further buy. However a close below the 8H support zone could see a further decline on the pair towards the trend line resistance turned support.
2H Analysis
The pair closed above the 8H support zone and can be seen getting rejected by it after closing its last low higher than the previous which closed within the 8H support zone. This could be an indication of a structural change from LL/LH to HH/HL. A close above the last high could indicate a but heading towards the 1W resistance, whereas a close below the last low could be an indication that the pair could be heading to re-test the resistance turned support of the pennant in recently broke out of.
Conclusion
Monitor the pair on the 2H and 4H timeframe to see exactly what the pair does and how it coincides with the 8H, 1D and 1W in order to make an accurate trading decision.
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GBPJPY SHORT 1HR TIME FRAMEUsing the Elliot wave strategy, top down analysis, market structure, support and resistance and a few indicators, I can see that market is heading in a downward position for the coming week. Now we do not know what will happen over the weekend that could effect the markets direction. but for a framework and idea, we should look for a short in this time Frame.
Last Stretch for GoldBy now, it is clear that the gold is climbing its 5th wave which is the final wave for the entire motive wave.
The price was ranging previously which turned out to be an ABCDE triangle and thus we are certain that wave 4 has ended.
This week, we will focus on buying the gold simply by waiting for a pullback from the current high.
The price is expected to end its 5th wave as it approaches a critical supply zone 1790 - 1802 in the weekly timeframe.
this is how wave 3 looks likein my opinion we have completed WXY correction that i was talking about for some time. this is wave 3 and my target for end of it is at least 18K. i'll show you why
NZDJPY 5th Elliot WaveBought NJ since the beginning of the 2nd wave which was a very successful long trade shooting from a major support. The ABCD retracement indicates us there is a 5th wave coming after the breakout of the bullish flag.
In theory, the wave should reach the 1.272 Fib extension, 73.60, but I'm keeping my first target at the same level as the last high, 72.95.
Elliot Wave Interpretation of Bearish DollarEven using the Elliot Wave Theory, it looks like the motive wave is in due to begin. The correction A will occur downwards to price point 96.94, which also has confluence with my 61.8 fib level.
Like the critical hold at ~ $3600: bull motive wave to upside!Just toying with some wave counts and patterns.
Break it apart and let me know what you think? If you have wave patterns please share!
EOS ($EOS): Looks pretty bullish!All informations are mentioned in TA!
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Thank you!
CADJPY Wave Forecast- Could se Zig-Zag pattern form or a Straight move to test previous top, but any how, I leave you with a picture of how to look at The Wave principle.
Plan your trade, trade your plan and trade Safe...
