BTC got rejected at 4H Ichimoku cloud, and the bearish dragon pattern is still valid. With its cleanest theoretical target being a .786 retracement of XC, the prescribed bearish movement is likely if the price fails to mark a new high. Considering parallel channels serving as S & R for months, a WXY formation (double zigzag) would be a candidate movement....
This is supplementary to my previous idea. If you don't like Gann Square and Arcs, ignore them, or skip this article. But how about the case where this upside was merely a fake out of the pennant? In the previous idea, I introduced a bearish scenario with an Elliott-wise impulsive movement. Considering the arc S&R, or the overall diagonal movement, it could also...
Just an idea. Nothing major has changed from my previous ideas (a slight correction was made on the wave count). If this scenario plays out, we could short at around 20800 (-21200). Note: In this hypothesis, we are in the first corrective wave 2 (ABC) of a final, impulsive wave C (12345) of a zigzag (ABC) being the last componenet zigzag Z (ABC) of the whole...
This is an update on my previous ideas (see links below.) As I explained in the related article , this downtrend may be forming a Triple Zigzag, having 3 zigzag waves joined by two corrective waves, each comprising 3 minor-sub waves (3-3-3-3-3, denoted as W-X-Y-X-Z). So far, it seems nothing violates Elliott Wave Theory's definition of Triple Zigzag. Let's...
Malaysia Health Index which comprise most of gloves stocks have very high positive correlation with Glove's stock price. The Index chart seem like completing its wedge /triple zig-zag pattern soon.
SUPERMAX may complete trip zig-zag (w)(x)(y)(x)(z) soon as price at :- 1) Lower Trend Line Support of Parallel Line (Red) 2)Price At Major Demand Zone ( Cyan Rectangle Box) ...
TENAGA stock price possible forming a trip zigzag wave pattern (W)(X)(Y)(X)(Z) ( Cyan/ Light Blue).
Congratulation for those still holding TOPGLOV stock!!... TOPGLOV as 1 of the 30 "Blue Chips" stocks comprising KLCI index which has turned into Bullish Sentiment. What could be the next move of TOPGLOV , HARTA AND KOSSAN ?...All 3's which making the "major contribution" to KLCI index.. Checking from TOPGOV's intraday price structure.. TOPGLOV most likely on its...
KOSSAN possible forming a trip zig zag wave pattern as TOPGLOV chart. Where price currently both rebouncing for wave B (Cyan/Light Blue) of the wave Z (Red Circled) which is the last leg of of the triple zig zag (RED Circled wxyxz) pattern. The Next resistance for KOSSAN could be around RM3.80 which are 1) The down trend line of wedge pattern 2) Previous...
INARI stock price seem consolidating above RM2.800 in wave iv ( Green Circled) as a triple zig zag wave pattern. where price finally could reach at around RM2.800 1) The Next Major Demand Zone 2) Lower Trend Line Support of triple zig zag channel .. As previous closed price was RM3.330 there would be about 15.92% drop toward RM2.800
GOLD possible now in wave 2 (yellow) which is forming a triple zig-zag ( wxyxz) (green circled) AND wedge pattern. Price could reach at around 1785 before resuming its up trend
Trading is an "on going" "Journey" of "Rediscovery" NOT a "Destination" of "Reinvention".. AirAsia possible forming a triple zigzag in wave 4 (yellow) where price could reach at around 1.400 1)weekly 200 EMA 2)Upper Parallel Channel Line of Triple ZigZag 3)Supply Zone before resuming its down trend..
GOLD probably is forming a triple zig-zag pattern in wave (B)( Cyan /light blue). Price could reach at around 1735 before reversal..
Historically NIFTY showed possitive clossing for many years, what about this june? Is it different? YES.... Read my simple EW chart with NW timing. It is obvious from the chart , when to take long or short ,with targets. (The power of EW forecasting) Happy Trading!!
If RM 4.45 support broken. The Next Major Support/ demand Zone could be around RM3.50 which is also the weekly 200EMA line..
Triple Zig-Zags are rare, and they can be easily identified with the helo of trend lines and fib levels.
In a long choppy correction has been underway from the coronavirus bottom. Look at how slowly, how weak the upside pressure. There is countless overlapping tops and bottoms. This is the way how looks a corrective rising. The fear of missing out heats the rise. The possibility of breaking upward from this rising channel is minimal in my opinion. So the English...