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DXY possible scenarioIt's been a long time.. I brought here some ideas for the dollar index for the upcoming weeks. As you know, the elections are around the corner and that should trgger some high volatility movements. On the screen, you can see a bearish movement over the last months, which shows the weakness of the USDOLLAR. On my opinion, that movment is a first bearish impulse of the index, which has eneded on the last fifth impulse. Is probably to see an "ABC" correction on the nexts weeks, testing the 38.6%-78.6% fibonacci retracement ( 93-96). Then, we could see a rejection of that levels and a next bearish impulse below the 90.00 level. I'll keep updating the analysis..
TVC:DXYShort
by Ometrading
BTC macro ABC correctionDetails: Considering big correction started in 2017 I used to have problem to connect candle tops/bottoms the way to build perfect ABCDE triangle which is what most of you do. I always thought there is something wrong with it and yesterday I found pretty similar fractal reviewing DXY chart. To me it looks like we may be during ABC correction which later may but does not have to turn into ABCDE triangle. The conclusion is simple, if this prediction is correct we are starting big dump. Long story short: We may be during ABC correction and now impulse wave C is being built which means we are starting another big dump. What is on charts: The upper chart shows macro view of BTC correction from 2017 till now. The bottom chart shows DXY correction in micro scale spotted yesterday which looks very similar to the BTC correction from above
BITSTAMP:BTCUSD
by GNGE
4
Gold - possible ABC correctionThe price of gold after a strong rally has been creating a potential corrective movement that could be labeled as ABC. The correction occurs after a significant price increase so there could be a stronger pullback (approximately 15%). Currently, after the potential wave A and wave B the wave C may appear. However, it could happen only after a trendline breakout. If the line is broken we may expect a decline to the 100% Fibo expansion or to the previous resistance at 1788 USD. It seems that only a move above the upper limit in a downward channel may be an indicator for the end of the correction. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
COMEX:GC1!
by Daniel_Kostecki
USD/JPY - potential ABC simple correctionLooking at the USD/JPY currency pair we may spot a potential simple correction labeled as ABC. The textbook target for wave C should be located at the upper limit in the upward channel. However, we could also spot a potential head and shoulders pattern. The first resistance may be set by the left shoulder at 106,47 where the price is currently. If the C wave is finished we could expect a breakout from the mentioned channel and a downward movement to 105,10 or even 104,18. Only a move above 107,05 may change the sentiment from bearish to bullish. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
by Daniel_Kostecki
XAUUSD, 1hr tf, upper zone rejection with bearish divergenceHello my friends, Previously XAUUSD closed with a solid big bearish candle on daily timeframe during Wednesday. After that, it consolidated inside marked zone for whole day at Thursday. It actually looked like an inside bar which is a continuation pattern to the downside for me. It also break below the ascending trendline so i think the short term trend is bearish for now. In my opinion this is the C wave of ABC correction from higher timeframe. Taking a deeper look into 1hr chart to time our entry, there is a bearish divergence exactly at the resistance so we could try capitalize this opportunity. Sell XAUUSD 1950 Stop loss 1958 Take profit at 1926 RR ratio 1:3 Use proper risk management Only risk 1-2% of your equity Good Luck
OANDA:XAUUSDShort
by HayatoDragonFX
Ultimate BTC EW SCAM analysisCheck the whole chart! The ponzi will rise, make it great again as Trump said. Not, im really serious about it. My last ideas were wrong but i think this is the good one. Strange times are happening, next month i will be unemployed and probably homeless haha so i cant fail, if that happens ill be back on my musician quest, living in an antispeculative squat with punks and crusties seeking the truth and philosophy of life, but hey, at least i will be happy unlike no fap incel bagholders, feeling homesick already. To be honest, i dont like crypto at all, its full of scammers, criminals and parasites, specially bagholders which are the worst of the worse walking scum on earth, also high manipulation, low liquidity, can name more but left an etc; cant deny good fundamentals tho plus the US collapse, still skeptical until price crushes 17k with high volume, on that scenario could mean people are really hedging with crypto, otherwhise i expect a last abc correction before mooning to ATH and beyond to complete wave 5 (maybe on 30k-50k range) and then the painful and slow death of btc, not bad at all. Could mean a real utility as an anarchist currency, the REAL satoshi's vision you know. Dont take too serious the Elliott notation, its all wrong. Im not an EW specialist, so any feedback will be gladly welcome :) at least i follow the key EW rules unlike the 99% of charts posted on TV if price goes beyond 15k, feel safe to buy and follow the moonboi euphoria, but if the abc correction happens you can even long at 7500-6000 range there is a very very strong support at fib 0.38-0.23 plus two key trendlines. BUT if price falls below 5000, be ready boy, because its going to be christmas for bears. The truth is: doesnt really matter if youre a bull or a bear, we are going to REKT. ALL OF US!!!
BITSTAMP:BTCUSDLong
by truenacuerdas92
WRXBTC Exactly Elliott & Gelen Nilli Theory ( Neowave ) Abtin00Hello guys I hope had great profit last month In here we an amazing chart at start of them We have an Elliott theory of abc and 12345 or we can say its going like Gelen nili theory A - B - C We think Wave 2 of correction is finish and we are starting new rally in WRX If its coming true we can get amazing profit from 300% to 1250% from this market we expect thats Wave 3 going in 5 micro wave but it can continue this ABC wave like Diameter Dont forget your own strategy and capital management and dont forget use SL Good Luck Abtin
WLong
by Abtin00
US Sugar futures ( SB1!) - stay short for bearish outlookUS Sugar futures ( SB1!) has completed ABC zigzag as the part of Y wave, as mentioned in previous updates. The total sequence is WXY as double zigzag, which is well known in Elliott wave theory and mostly seen in commodities and currencies. In last updates, we already posted the bull set up for buy a C wave, Now its over. stay short in B wave up at around 12.73-81 with stops above 12.97 for target range of 12.25 as support zone or lower too. make sure that B wave is not too sharp before entering the trade set up.
ICEUS:SB1!Short
by EWFcw