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5-wxy

USD/CADI am in this sell from where it broke the high. I did not have time to post. The idea here is to break the low to that .618 with the potential of it going down much further longer term. It doesn't have to go to that underlined 1.618 or break the low, but pattern wise seems like it should continue down I would think to at least equal length to 1.236 extension. I marked the .786 level above (see small yellow arrow) as a possible place to get exact entry on it breaking the high of this consolidation, but it just shot down. I would look for sells or at least watch that level I mentioned should it push up again to break the consolidation high.
Short
by thillygoosth
4
NZD/JPYI have been talking about an NJ buy for a while considering this price action channel/ diagonal. Simply looking for a 1-2-3 to take place either direction it is going. It wicked out of bottom of channel off .786 fib. Looking for a corrective flag here or a breakout of channel and correction for confirmation. We had a 1 hour correction, but it can expand or even extend down to break the last low it just made considering the supply zones below it but it did make enough touches in this channel with a wick out of the bottom and does have enough overlap. But it is a yen pair so be aware.
Long
by thillygoosth
NZD/USDNU did a wxy off the .618 fib like EU. I am in from very botoom and will let run. NU's larger wave structure looks like it needs to do one more up to break the high. The 1.618 fib extension also lined up with the 78% fib level, major high to low. So, if it was going to go up in that 3 wave pattern I am looking for, it would make sense to do so from here. It is a trend line breakout and I feel we can expect at least a pullback to test trend line area (see orange fib levels for targets). This is more long term analysis, so nothing says we can't get some more correction back down to break the low, but I will hold my buy and continue to look for buy setups in upcoming future. Refer to my Eur/Usd markup also. Both pairs created ending diagonals before the turn, but NU's would be stunted. Which means it is incomplete or it will go up harder. I tend to think it is ready to go up. To go for the longer term trade will not be easy if you don't have a good understanding of patterns and wave theory.
Long
by thillygoosth
Eur/UsdEU came off the 1.618 fib extension of its wxy pattern and I am in the buy from the tip. With this pattern as a correction, that is far as it should go. Considering it extended this far it can be in a downtrend, but I am expecting it to correct up from here. See orange fib levels for targets. It is possible that we just get a wave 4 retrace 23-38%, but it could go up much, much higher. So I will hold my buy stop in profit and see what it does. Similar pattern somewhat mirroring the dollar index. So I consider it to be in a buy and will continue to do so until something changes. It is possible that EU even extends up to break the high, but we will just have to continue trading the setups. Don't just buy it, you need corrections because it can always come back down to break the low, but if it did, I would most likely just buy it again depending on when and how. We should at least get more retrace than this. If I get a corrective flag on daily, I will sell, but until then I will keep looking to buy. NU also hit the 1.618 lined up with the 786 fib level from major high to low. In that as well. I apologize for not posting much lately been busy. I posted some stuff, but when I look none of my really good trades got posted so I feel bad. I will try to post more this week, but expect it to be more midweek.
Long
by thillygoosth
DXYDollar consolidating at trend line looking basically like EU upside down. It doesn't have to just reverse and break the low, although possible, but the pattern it is in should at least be due to pull back down to that zone to create more of a combo pattern moving up. Regardless, it looks like it is making a flag at trend line which we would expect. It can break out and go on a tear up anything is possible, but considering all the pairs swing patterns, such as AU, NU, and EU, along with the index I expect them to trap buys and come down. I would think it would shoot out trend line and wick down, but doesn't have to. I can't guarantee anything. Just saying the dollar pairs are over extended and seem to measure and count out to be in very identifiable combo patterns. But you could always just wait till next week and see if it is doing what I am saying and look for setups then.
TVC:DXY
by thillygoosth
Eur/UsdEU has made a basic W-X-Y structure that measures out fib wise all the way through. This pattern can extend down to the 1.618 extension, but I don't think it will. When I adjust my pitchfork fib lines to best fit support and resistance price is holding. I could see a wick down to that support level at the 1.382 if there is a news spike, but it looks like on the 1hr that it produced a small ending diagonal (expanding triangle) and the 4 hr looks like it made a small flag. But we all know looks can be deceiving right now with the lack of people willing to risk their money in a crazy market. I posted AU, and NU, my long term analysis. It has not changed. If you look at those posts you see the confluence between the dollar pairs. They are way over extended, but it is more about the patterns they are in. I'm looking for EU to work up to that yellow trend line possibly creating a larger combo pattern or flat. But take a look at the chart, this is the daily, and see what price does when it reverses for a large move... Usually takes days to weeks. But the 1-1.236 extension is what you would expect with this pattern.
Long
by thillygoosth
5 STEPS TO CHANNEL THE TARGET WAVE 5 USING ELLIOTT WAVESSTEP 1 - Once the 1 wave is completed use Fib Retracement to find out the possible wave 2 level. Usually wave 2 is 0.5 - 0.8 of wave 1. In a uptrend Fib level is close to 0.8 but its the opposite on downtrend STEP 2- Once the wave 2 is completed use Fib Extension to find out the possible wave 3 level. Usually wave 3 is 1.618 of wave 1 or 2.618 of wave 2. STEP 3 - Once the wave 3 is completed then you can draw a line to join 1 and 3 and then draw a parallel line on wave 2 to project the wave 4. Usually wave 4 is 0.5 - 0.618 of wave 3 STEP 4 - Once wave 4 is completed then you can draw a line to join wave 2 and 4 and then remove the previously drawn line joining wave 1 and 3 STEP 5 - Then draw a parallel lines from wave 1 and 3 and the 50% trend line of the above parallel lines to project wave 5. Usually wave 5 is 1 or 0.618 of wave 1
BITSTAMP:BTCUSDEducation
by surangadesilva
8
GBP/CHF- Fun with charts....Ok...... So I spent some more time to go over gchf since it has extended. I would like to point out that it did a W-X-Y double combo pattern in the form of 7 swings. For this pattern you would expect equal length to 1.236 extension. Hit 1.236 today, along with the .764, which would also be conducive with a continuing pattern which would need to come down to most likely that .618(longer .618 line) Keep in mind GU hit the high also. It also lines up (roughly) with about equal time span of each pattern within the combo. These pitchforks are not necessarily drawn how anyone else would draw them, but take a minute to really look at the medians (red lines) and how price follows them...... Anyways strong level. I've looked sells lower down looking for a different pattern, or at least a sharp 3 wave this move, but all it did is keep extending, right to the fib extension. The issue is as of right now we have no reversal pattern or ending diagonal, plus Gchf could go into a large sideways consolidation (which would still probably produce a nice sell). We might even get a zone bounce (see horizontal green lines). The daily TDI WAY over extended. So is the weekly. Just please keep in mind this is not a 5 min chart... That is the daily..... We have nothing but a 4hr pin bar right now. There are different ways to go about attempting this trade and not put yourself at too much risk. If you want to learn about price action along with this stuff then subscribe and watch my you tube channel. I did a live trading session earlier, I go over a lot of charts... (it's free guys)...
Short
by thillygoosth
Ripple - XRP Daily Detailed Analysis - WXY ? | 16 April 2018Here's a detailed analysis of XRP on the hourly chart. We clearly had five waves up ( 5 minor waves = 1 major wave up), then we saw an ABC type of correction (major wave 2 = correction). Next seemed like we are about to begin the start of the major wave 3, however, that's failed. In order to attempt to form a major wave, we have to see another ABC correction. The whole structure would make a WXY pattern. In regards to landing prices; First Scenario: Is that we fall to 0.382 Fibonacci level which actually is a strong support. (As it's the beginning of wave 4 from the major wave1, and also it's the ending of wave W) Target1 = 0.612 - 0.622 $ Second Scenario: It is possible that we retrace to the popular 0.618 Fibonacci level and the Golden zone. Target2 = 0.55 - 0.58 $
BITFINEX:XRPUSDShort
by thats_me
Elliott Wave + Harmonic Patterns OutlookWe have 4 emerging bearish harmonic patterns which are ; 1-Gartley 2- Anti Alt. Shark 3-Anti Shark 4-Anti Cypher Supply and Demand zones are shown by the green and red rectangles Elliott Wave scenarios are indicated in the chart P.S. DON'T ENTER ANY TRADE BEFORE PRICE ACTION CONFIRMS IT AND UNLESS YOU DID SETUP A SUITABLE STOP-LOSS YOU CAN AFFORD !! Like and Follow to get the updates !! Thanks and wish you all good luck dear traders :)
TVC:DXY
by MohamedMagdy
NEBLBTC - 2H - On the very precipice of an galactic explosion!Neblio, NEBLBTC is converging into a formation with trend lines start in January . That's nearly a month and a half of price consolidation, meaning that a breakout will be explosive . We can take a look at the indicators and know that it's an automatic buy. RSI is upticked and nowhere near overbought levels The MACD is just about to cross over, and the angling of the signal line and MACD line shows it has strong momentum. OBV is positive: this means there are more of it being bought than sold, which means there's a strong demand for it! It also appears to have formed a double three, which is related to the Elliot Wave Theory. Two different waves are connected by WXY and the price action is usually a bit sideways; it ends with a bullish kickoff. >Month long converging into a double three with indicators looking good. Hard recommend Stop loss: because we are at the precipice of a breakout, it can breakout downward. Risk it for the biscuit. Set a tight stop loss but don't forget the risk to reward is tiny here.
NLong
by NeoButane
4
LinkETH: Triangle... or Complex Corrective Structure EWThe "e" is usually a smaller correction than 50% (based on the "c-d" swing). The next impulse (after "e"), it's usually part of a ABCD pattern (AB in place on the "c-d" swing, where, AB = CD and CD = 127.4%-132.8% or 161.8% of AB). But the right level will come from adding a Fibonacci Retracement, on the "d-e" (counter trend fib) in order to find the Fibonacci Confluence Area (with the ABCD measurements and fibs). That fib cluster will be our next correction, above the upper band (in case you miss you Buy at the next Resistance BO). In case the "e" would be lower than that (i.e. a healthy retracement of 50%, ideal 61.8%) and if it will break the lower band of the Triangle, let's say, we should see in place a Complex Corrective Structure EW scenario (bigger WXY counting). I'd like to have the option to upload in this post the chart with this opposite setup, as well - feedback for the TradingView team. I'll keep a close look at this crypto and I'll be ready to design a new chart (WXY), if the actual setup will be invalidated (Triangle Pattern). Hope this helps, Jo. Ice.
Long
by UnknownUnicorn2251497