Thé "DOUBLE THREE " SPOTTED @DailyTF consist of A-B-C Zigzag (sharp) separated by A-B-C Zigzag (3 wave ABC) pattern X and A-B-C-D-E "Triangle (declining top, flat bottom)" Y.
Wave W; Impulsive Wave X; Zigzag Wave Y; Sideways movement ("Descending Triangle ") often set as the end of the multiple wave pattern.
The price from it TopView; currently USD/CAD is in a consolidation phase to continue with it trend and at the same point with the major consolidation phase, yet a minor degree correction wave is occurring as « Descending Triangle. While the major phase is a semi-falling flag, say a descending since the peak price are making series of higher lows but not in an...
Looking at the XAUUSD current price as an “ENDING DIAGONAL TRIANGLE” which at the move fourth wave “breakdown” indicating a further ‘fifth’ wave “overthrow” or rather a breakup.
Considering the key level, the answer is “Yes” considering how strong the bears could be the answer will probably be “No”. But it’s proven that price movement are quite sensitive to how best is best to form. Let’s see
A rising channel is a chart pattern that shows how strict the sell order, bears can be in the market and a mark of reversal, an act of weakness of the bulls. Expectations are spike in decline
You can line out a rising channel which is a concrete build to a fall if eventually effective.
Rising wedge or diagonal triangle is a bearish chart pattern that signals an increase to sell, decrement to buying; it consists of two converging trend line where the prices makes a series of higher high, higher lows. A rising wedge/ diagonal triangle can occur either in an uptrend or downtrend. In a downtrend it occurs as a ‘continuation pattern’ whereas in an...
A minor bearish flag in a major bull falling flag which will cause a spike after that. Do not be this deceive for this short while shorting.
Come to think of a minor bearish flag formation in a major falling bullish flag as well. Do not be deceive!
Truncation when described by Elliott used the term « failure « , truncation can be good indication of a trend reversal that is determining the end of a trend an Elliottian can describe this situation as a « TRUNCATED FIFTH WAVE » while a price action trader makes mention of it as « TRIPLE TOP ». Below are the common factors/ setup determining reversal • Rising...
Showing you my full charting, but see the last post description.
A single Zigzag is a correction pattern of a simple three-wave declining pattern in a BULL market. Occasionally Zigzag will occur twice, or at most three times in succession but as in this case it will tend to occur twice since the first zigzag ended at the 0.618 FIB. So particularly when the first ZIGZAG falls short of the normal target, the second zigzag forms...
HERE USING "TOPDOWN ANALYSIS" WORKS ALMOST PERFECT IN LIQUID, VOLATILE MARKET LIKE ETHUSD call it pattern analysis, wave (Elliott) pattern, technics, all fact was applied perhaps not too detailed tried making it very short. LIKE COMMENT FOLLOW FOR MORE
This what it looks like while interacting with minds drawn as chart, i enjoy analyzing and making meaning out every single pattern, I will be dropping the image as soon , like and comment. PS- this video is not to be taken as advice or motive on what to trade here in ETHUSD can be when you agree with analysis to what you know is setting high probable pattern/...
this displayed analysis is a tip to what wave analysis looks like in practical terms; a rising converging price line serves to what the next moves would look like.
currently the market is consolidating, forming as well the famous known Elliott sideways pattern PS this is analysis is not conformed to what and how you should trade USDCAD.
YOU can't imagine that 60% - 75% of the time in the market is a business of DISAGREEMENT between buyers and sellers provided ; the market is always needing a breakthrough either to a resistance or a support line. there are many wave pattern expo on how to catch pips whether during a consolidation or trending. HERE is clue a sideways pattern is one of the...