Gravity33

Gravity33

LTCUSD can be unfolding a complex corrective pattern, down from December of 2017 high. A double zig-zag pattern can be unraveling, where price is now unfolding sub-wave (c) of y, and which can reach possible support and a reversal zone around the 22.46/5.0 levels. In case wave y unfolds as an Elliott wave ending diagonal, then we should be aware of a contracting...

Gravity33

Hi Elliotticians, RUBEUR can be unfolding a complex pattern on the weekly time frame, known as a double zig-zag down from 2008. There is a completed a-b-c move in w, followed by a completed elliott wave triangle in x, and now a possible three-wave move down for a wave y. Possible support and a rebound can be near the middle parallel channel line and at the Fib....

Gravity33

Hi ellioticians, todays technical analysis regard the EURUSD and its weekly time frame. We see a five-wave completed move on the weekly chart from the 2000's lows and a high at the 1.60 lvl.., which was then followed by a choppy price action between years 2008 and 2022. I labeled a possible triangle correction in the making with leg (c) now unfolding. Ideally the...

Gravity33

Cardano can be in a possible bigger, five-wave drop to the downside from the 1.263 lvl.. We labelled higher degree waves i and ii as completed, so latest price activity can be a red wave iii from the 1.225 lvl., which means a five-wave sub-structure must unfold within it: blacks sub-waves (i), (ii), (iii), (iv), (v). At the moment even a lesser degree blue...

Gravity33

ETHUSD is unfolding a bigger five-wave move down from 4870 lvl.. At current time, price can be unraveling black wave 3, specifically ending its sub-wave (4) at the Fib. ratio of 0.50, which means sub-wave (5) of 3 can show up in the near term. That said, a sharp, impulsive drop below the lower corrective channel line, and below the 2575 lvl. would confirm sub-wave...

Gravity33

EURUSD is in a five-wave intra-day rally on the 15min chart. This impulsive move up suggests a minimum three-wave recovery, with red wave a leading the way. At the moment price can be unfolding sub-wave (v) of a, which can look for resistance at the 1.128/1.13 region, and then turn into a bigger red wave b correction. Both alternate counts suggest a flat to be...

Gravity33

WHEAT made a sharp and impulsive drop from the mentioned resistance levels, at Fib. ratio of 0.382/0.50 and at the level of a former wave iv (795/800 area). We labelled a possibly completed five-wave structure in C at 757 lvl., which means a minimum three-wave rally can now be in the cards, and is already underway. If only a three-wave rally shows up, and then...

Gravity33

We are tracking a big impulse to the downside, from the 4.58 lvl. on COPPER. Red waves 1 and 2 are completed, so current price action from 26th of January can be a big wave 3 in the making, with its five-wave substructure, and can target the Fib. ratio of 1.618, where support can be seen. Intra-day price activity suggests a minor correction in action (iv), which...

Gravity33

WHEAT (MAR 2022) made a textbook example of an impulsive (five legged) wave, down from 831 high, and found a potential low for a higher degree wave A or 1 at the 774 lvl.. Price can now be in a temporary, corrective retracement labelled as an a-b-c flat of a higher degree wave B or 2. Possible resistance is at fib. ratio of 0.382/0.50. In case if price starts...

Gravity33

WHEAT is trading in a five-wave decline for a higher degree wave 1 or A from 831 high. We also see that price broke below the lower corrective parallel channel line, which is a confirmation that a temporary high is in place, and a change in trend underway. At the moment we are tracking a sub-wave v of 1/A, down from 795 lvl., where a corrective sub-wave iv had...

Gravity33

WHEAT (Mar 2022) is trading as expected, turning in impulsive fashion down from 831 high of a former higher degree wave C. We labelled a five-wave move in progress for a higher degree wave 1 or A; sub-wave iv correction can now be underway, with possible resistance at the Fib. ratio of 0.382 or 0.50. Also the upper side of the lower parallel corrective channel...

Gravity33

S&P500 has turned down yesterday from 4453 lvl., near the area of Fib. ratio of 0.382 and 0.50. Also the lower parallel channel line reacted as resistance (orange). Further bearish, impulsive move below the former swing low at 4287 would indicate a completed wave (4), and wave (5) to be underway, targeting 4211/4160 area in a five-wave sub-structure.

Gravity33

GOLD turned sharply to the downside yesterday in impulsive fashion, which is expected whenever a rising wedge or ending diagonal is being observed. We see a sharp break below the lower ending diagonal line, and impulsive price action which is an inidcation that bears are in control on the 4h chart. Ideally gold is now making a new five-wave move for a higher...

Gravity33

NASDAQ can be unfolding a five-wave drop, down from 16612 lvl., where we identified end of a bigger corrective wave (2). At the moment price is sharply turning to the downside from the 14647 lvl., and breaking below the lower corrective channel line which is an indication that sub-wave 4 of (3) is completed, and sub-wave 5 underway. Price will ideally trade in...

Gravity33

GBPJPY is making an impulse to the downside; we see a new five-wave structure underway within a big wave (3), where price is ending a correction in red sub-wave 4. Ideally sub-wave (4) will end and price will impulsively turn down from the Fib. ratio of 0.50 and at the level of a former lesser degree wave iv (both react as resistance zones). An impulsive drop...

Gravity33

S&P500 may have found a temporary low at the 4223 lvl., as price made a sharp reversal afterwards, which we think is a corrective wave (4) in progress. Possible resistance for wave (4) is at the Fib. ratio of 38.2 and 50.0 and at the lower parallel channel line (4425/4486 area). A new sharp, impulsive decline from the mentioned resistance area, would suggest a...

Gravity33

WHEAT (Mar 2022) found a low for a corrective wave B at the 776 level, near the Fib. ratios of 0.382 and 0.5, which can also react as support, and bounced sharply higher. A sharp rally above the upper parallel channel line, and above the former high at 803 lvl. is an indication that bulls are in control, and that correction is completed. We are now tracking a...

Gravity33

A five-wave rally on wheat (March 2022) from 737 lvl. on the intra-day chart makes a bullish sign, and suggests more upside, once current a-b-c correction fully unfolds. Correction can be a complex one, and can look for support at the 770/761 region, where wave iv and Fib. ratio of 0.618 sit.