EURUSD sell setupI'm considering that to be an expanded flat and a flag for a sell setup to break the low.
5-wxy
CADCHF longI see more opportunity trading Cad over the Dollar right now. Cadchf should keep trending up consider the pattern. I don't see it making a larger flat structure here, just going up.
continue correction in wxy format, after local growthBitcoin still draws the correctional movement wxy, the essence of the model has not changed, only the appearance has changed. We thought that the price forms a triangle as a pattern of the continuation of the trend (downward), but did not take into account the factor that another half of the traders also thought about it. In general, they will be right if their short position is not liquidated after local growth. In my opinion, the price is now drawing a zigzag abc with a supposedly ending diagonal triangle in the wave c of x (all points are described on the chart). That is, in the near future we can still expect a local upward movement with the full removal of shorts of holders to the area of 6950 7060, from where the downward movement is likely to continue with targets at 6600 and below.
A change in the downtrend to the upward trend will most likely be considered an exit above 7060. So far, I do not see an exit above 7060 from these marks. There are no obvious impulse movements and tech
$BTC where is the pivot? WXY B within Z from $3,8xx low$BTC where is the pivot? WXY B within Z from $3,8xx low
Goodbye Mr Dollar, it was nice to know you, I bid you farewellIts the final count down on dxy before it all goes bust.
106/107 and it has no more energy. all the lines are on the chart. expected time period for crash , April 13th.
Good luck guys lets make a ton of money :D
always use money management and stop losses !
stay safe !
NICKEL - long-term upsideI assume the next three wave move up on weekly/ monthly frame.
This may be the trend for the next 5 years to test the high of the 2011.
1:1 WXY correction complete. Next wave 3 extension to 5k or 4k?1:1 WXY correction complete with a clear 5 wave count for wave Y and gradual declining volume as bitcoin rises.
4 hour bearish divergence now on the 4H OBV.
If this count plays out, we should be starting wave 3 of 5. If wave 3 is a 1.618 extension of wave 1, I'm expecting this wave to complete somewhere around 5150. A 2.618 extension will see an extension to the 4k region.
Good luck and happy trading!
W-X-Y Correction Predicts a BTC Bottom On June 29, 2020
Type Of Correction: The main difference between a regular A-B-C correction and a W-X-Y is the sub-wave count. While the A-B-C formation often has a 5-3-5 or 3-3-5 wave count, every wave in the W-X-Y correction consists of three sub-waves, amounting to a 3-3-3 correction. Since the W and Y waves often have the same length, this correction could end in June 29, 2020.
Possible Bottom : The decrease from the top of the W wave to the top of the X wave was 37.41%. It would make sense for the decrease from the bottom of the W wave to the bottom of the Y wave to be similar since the W and Y waves often have the same length, giving a low of $2200.
Future Movement: : It seems that the price is in the C sub-wave of the larger Y wave. This is expected to be an extended wave, similar to the C sub-wave of the W wave.
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USDJPY - please note the alternativeWave Y may be still in progress, with the wave b inside it taking the form of a running flat.
CadChf 7 swing to complete at 7000This is such a textbook 7 swing structure... So textbook. Trendfibs line up with pattern perfectly at 7000.
USDJPY 7 swingThere.... That is the way to properly label the 7 swing.... I would have liked to have seen my TDI spike on the wxyxz leg, so it is possible that pattern extends past trend line and becomes just WXY, either way drops. If DXY continues down, it's already on the way. I think it is.
USOIL is likely to set a bear trap today-tomorrowI love those wxy dirty tricks by USOIL. I expect this to happen during this week.
XAUUSD appears to be in abcde channel The channel is not perfect but hey this is gold. Gold is never perfect and always misleading. Counting waves and seeing wxy subdivisions helps to identify those upward corrections while everyone is short.
BTC Elliott Wave - ABC Correction in progressThis is my primary count - We had a leading diagonal A wave and are now in a complex WXY correction. The Y wave we are in currently looks to be forming a flat but could also turn into a triangle.
If we see support in the 7342 area, I will stay with this count and look for one more small move up to the top of the channel around 7670. I will short in that area to catch the Y wave move down.
If we DO NOT see support in the 7342 area, I will then look for support in the 7270 golden zone of this most recent move upward. That would be more indicative of a triangle formation.
Thanks for looking, and good luck in your trades!
if you can understand this then you are at Pro level GOLD movehey fans here is the next picture for the Gold .understand this
ORBEX: GOLD - Expecting a Complex Corrective Structure?
It looks like we have a triangle. Since they usually appear in wave B or 4, and it doesn't look like we are on a B wave, the corrective structure hints to a complex w,x,y minute wave.
The complex correction is part of minor wave 4, which has a termination level above 1600, where intermediate wave 3 is likely to complete.
After minor 3 top at 1557 markets corrected with a zig-zag pattern that has a 61.80% (b) wave and 100% (c) extension wave. With subminuette wave 4 nearly completed, subminuette wave 5 is likely to end near w minute low and form a flat pattern. Unless if minuette wave (a) extends below 1454 we could expect this pattern to form a different structure.
The completion of (a) should see prices moving higher for a (b) minuette and then slide lower. In case the decline to (a) stops at minute w low, (b)'s top would be the 1513. Anything above would invalidate the flat, but could indeed become an expanded flat (unlikely).
This opportunity would be invalidated above 1536. A break below 1480 would be an early sign of validation towards (a).
Stavros Tousios
Head of Investment Research
Orbex
Bitcoin - Wyckoff and Elliott description of current correctionI wanted to create a Wyckoff and Elliott wave based description of the current correction that has been lasting nearly 3 months now.
During the beginning of the correction we have seen a Three Falling Peaks pattern which created a strong supply line.
Three falling peaks acts as a reversal at the end of an uptrend.
The strong supply line created by the 3FP's has eventually pushed the price below the ice in phase D.
If bulls can not regain price above the ice then we might fall deeper into the river.
Currently Bitcoin has corrected down to the fourth wave of one lesser degree.
This could be creating a Spring opportunity as a potential end of a WXY.
It would seem the correction started with a Flat (3-3-5) leading into a "Any Three ABC" followed by what I assume is a Zig Zag pattern.
Many didnt believe the first ABC to be a flat because the B leg didnt retrace 90% of the A leg.
A break back above $9350 signals a good Long position
Falling below $7500 would give a good Short position.
Current sentiment is cautious.
Phase E should begin soon to reveal if the correction is over or if distribution continues.
SPX500 is like YO-YOI am getting both frustration and fun trying to read those difficult WXY corrections. Becoming an expert.
SPX500 swinging up and downLast week was interesting. This week is less promising as the picture across different markets is less clear. SPX500 has to finish upward move and reverse. On Friday it was stopped by 200MA on 1 and 4 hr chart. Strong resistance level is in sight though not yet reached.
The price could pierce through the resistance early this week and decline throughout the rest of the week.
I'll be posting live updates and report on my trading in Telegram channel - t.me If you up for some fun, feel free to subscribe.
EOS - Correction completed? Wave 3 There We Go!It looks like we've finished a corrective wave (WXY) wave 2. A double pivot bottom! Possible symmetry in progress. I will update as progress
