As visible in the chart, we have a well-established bullish trend and market structure in the daily timeframe chart of ETH. Following the formation of a top on March 12th, 2024, the price initiated a corrective bearish move, corresponding to an ABC zigzag correction and retracing approximately 61.8% from the previous bullish move. Furthermore, the price has...
A B-wave is possibly morphing into an expanding triangle to be then followed by an upward correction meaning the start of the C-wave which would potentially conclude the corrective phase of the previous downtrend started around mid-july 2020.
Price action has been channeling in a zigzag pattern. Micro bearish impulse downward leg in development. Just pointing out levels to watch.
Price action and chart pattern trading: > The weekly price currently trading below EMA200 W with a possible 4-wave correction rising wedge pattern, approaching target EMA200D > Entry @ rising wedge breakdown > Target @ 0.618 extension rising wedge target +20%+ > Stop @ EMA200D -10% downside > Risk reward ratio 2:1 Always trade with affordable risk and respect...
The Great Fleecing of novices and fools continues. First, a massive year-long rally was permitted to run its course all through 2021, price climbed inexorably higher and higher to astronomic regions. Euphoria was universal. Stonks only go up! No time for Puts! gOgOgO!! Bulls made money. Second, came the Wyckoff distribution we have seen all year long in 2022,...
Our Pattern Piper found a downward zig zag (USD/JPY) to closely resemble Coinbase's downward zig zag. What do you think?
I warned about a very strong bull trap in NVDA on 28th July and now the stock has a fresh low. ! As discussed in previous idea , inverted flats in bear market are among the most difficult patterns to recognize. Lets review published idea first : Now, What is next? As shown on the chart , a zigzag correction is most likely forming in NVDA and the stock is...
I think btc may be finishing this 5 wave move as part of a zig zag which is correcting the larger wave 1. IF wave 5 is still not over than it will most likely hit one of those points before coming back down to do the abc.
USDCAD has been trading in a corrective phase for a while. From a technical analysis view, we are bullish but we just had a short-term pullback. Overall we are in a series of 1-2's in a bullish trend. The ending diagonal contracting pattern might be able to hold and causes a bullish spike aggressive entries can be tricky/ risky the conservative entry can be a great option.
Just a thought... so very beary, so many putholders, looks like the bottom about to fall out... just before a massive face-ripper?! Maybe not a great idea to buy anything, just sayin' shorting it here could be a bad disappointment too!?! Trade with care!
We are still in wave 4 of this bull cycle. We may potentially have a zig zag complex correction that started back in May and may last until Q1-Q2 next year. Follow for more updates
I think a potential sell-off on USDCAD has more probabilities. I expect an A-B-C down to complete the wave (Y) on a Double correction to complete the wave 2 sequence then see an upside wave occur.
$TSLA, From reaching the all time high of 1,243.07, Tesla creates and nearly completing a good one example of Elliott corrective wave or Zigzag. In Zigzag rules: Zigzag is subdivided into 3 waves which subdivided into 5-3-5 waves. Wave B never moves beyond the start of wave A, wave A and C is subdivided into an impulsive or diagonal, and wave B is subdivided...
This technical is my oppinion according to Elliott Wave. After 1st wave finish, it goes to Zigzag Correction before continue to 3rd wave. At the 2nd wave wait for buy signal maybe RSI Overbought, or Bullish Divergence, or Candle Stick Rejection
Just an idea. Every correction has been a zig-zag since 2015. Last year the zag came in late October. Cycle this year seems to lag a week behind. Time bars suggest this rally maybe near end move. Not saying that gap at 360 will fill, just that it might fill, it's a price magnet TBS. Price could consolidate and pivot again anywhere between. Some kind of pullback...
As BTC's 3rd wave ended this month @67000, Now its time for correction for its 4th wave this may be sharp and swift (alternative to 2nd wave FLAT correction). The minimum time for this will be one year from now . set up your trade accordingly. when trend is bearish, Never attempt to buy for pull backs trades. Use Elliot wave analysis, Find wave ''C'' and Go...
Every correction since 2015 has zig-zagged. Going again? IDK, but eerily close to dates, peaked on 12, sold to 28 Oct 2020. This one is running a week behind, looks like we peaked 10/21; to confirm on Fri 10/22, ERs tanking FB, SNAP, INTC techs overnight; if double top is in, might expect weakness until ~5 Nov, if the zigzag pattern repeats. Bull trap?! Not...
TRADE TYPE: Simple trade using the concept of parabolic corrections and zigzags. TIMELINE: 1-10 days. Look for double bottom at the end of zigzag to confirm end of correction and reversal to the long side.