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21/10/07 - XAUUSD (Gold) Is In Flat Correction - By RT_Trading_Hello Trader, I'm happy to provide you with a new Idea based on XAUUSD (Gold) . Our last Analysis and forecasts had an accuracy of around 90% . We are very proud of our work so far. We also want to say thank you for the amazing feedback we got from your side. I can only repeat myself: Feel free to write us a personal message if you have any questions according to your trading and your possible trading improvements. We will help you where we can. That said, what is Gold doing next? By giving it a closer look on 15 minute timeframe, it looks like Gold has done building up its first impulsive wave that is made out of 1-5 wave in which wave 5 is an ending diagonal . After such a diagonal, a correction is the consequence. Since Gold is becoming very bullish we made a new high within this correction. This brings me to the conclusion that it can only be a flat pattern in which wave B exceeds the beginning point of wave a . Most traders would see this as a ''breakout'' and would start longing based on this PA. Nonetheless, we know how Banks play and we always are one step ahead. We engaged our Short entries at the top of wave B on the 124% Fibonacci Extension . Our RR will be amazing. Since a Flat can't exceed 124% we are allowed to easily get an invalidation area - this on the other hand allows us to play this short with a super tight stop - that means if we win our reward will be huge in comparison to our risk. If this Analysis fails (because you can never know if you are right or wrong), our loss will be minimized and we won't endanger our profits we made this week. That said, we wish ya'll the best of luck and a profitable day. This is no financial advise, RL from RT_Trading_
OANDA:XAUUSDShort
by RT_Trading_
10
21/10/05 - XAUUSD (Gold) Forming ABC Correction - By RT_TradingHi Trader, After our latest huge success I want to update the current XAUUSD Chart as I start to recognize a clear price action. The fact that Gold didn't make a new high trapped a lot of Elliot Wave traders since most were expecting another Leg up to complete the inner Cycle of Wave 5 which would then conclude to a bearish ABC correction of the overall cycle. What happened to Gold is a so called ''failed fifth'' where the fifth wave of a cycle cannot exceed above wave 3. This a uncommon price action and is a clear sign of weakness that shows us that bears are slowly getting into control. So what's next? Since I always look into inner counts of each wave I have found an invalidation point according the bullish scenario, where wave 5 would make a new high before it starts retracing. Therefore I assume that we move currently in Wave a. Wave a is a correctional wave that occurs after a completed Cycle of 5 waves and is also made out of 5 waves. In this case I expect that we are currently building up wave 4 which usually builds up the form of a triangle before wave 5 starts the next impulsive move - in this case downwards. We can expect that wave a lands between 38% - 50% of the major cycle. This is where I will place my buying orders to catch up the move of wave b, that should retrace at least 50% of the movement of wave a. Exactly here is the point, where I will close my orders to look for a good short swing and catch the whole move of wave c. That said: I wish ya'll the best and a profitable week. This is no financial advice, RL from RT_Trading_
OANDA:XAUUSDShort
by RT_Trading_
12
ETHUSD - Needs to find support on 3600Afternoon traders, The decline across the crypto market appears to be in 3 waves labelled ABC . The C wave correction is possibly complete as you can count a 5 wave decline. To confirm the bullish trend is back in action ETHUSD needs to find support on the B wave top at 3600. Markets are in a risk on mode as Evergrande made payment on their first debt obligations, the market is recovering some of the weeks previous losses on the more positive news. Market sentiment has been risk off due to Evergrande and contagion fears. Any more positive news could provide the fuel the market needs to set up the next 5 wave rally higher. Let us know your thoughts!
KRAKEN:ETHUSDLong
by Trading_Tony
XAUUSD - Ongoing CorrectionGold managed 1808 before breaking out of a reverse symmetrical triangle and dropping to the 1750 level of interest. Keeping an eye on the weekly close here as this could be the pivot for wave (ii). We could also potentially see price drop further between the 1738 - 1717 levels highlighted before moving back up to complete the wave (ii) of C. Wave (iii) which should eventually bring gold back below the 1680 level. More on that when we get there. Follow for further updates. Your 'likes' are much appreciated and your comments are most welcomed. Thank you for taking the time. Trade Safe! Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own research and analysis before making any investment decisions. Do not trade or speculate based on the information provided in this idea. Trust your own analysis. Beyond Edge
OANDA:XAUUSD
by BeyondEdge
5
Harmonics do work on BTCI tried the harmonic EW on makro BTC picture and found some pretty consistent patterns. For exaple: The third wave of last wave C in bull markets tend to be very over-extended and stall around the 4.618 extension level and 0.236 level on the fib channel (which I mainly use as parallel trendlines but it is interesting nonetheless). Both Bull and Bear markets develop in three waves. It takes about 650-800 days to complete the Bull market. The last wave C tends to extend to extreme levels (last two bull markets: 46.981 and 29.036). If those patterns are to hold true, this rally could take this asset up to $325 000 by early December. Notice, that the current correction is not finished yet...
BNC:BLXLong
by thomasula
9
Near Protocol Price Analysis: ABC Pattern Calls for a Temporary Near Protocol (NEAR) cryptocurrency was among the few digital currencies that sustained a big rally while the cryptocurrency market underwent a massive sell-off. In Elliott Wave analysis, the ABC pattern is a 3-wave pattern where wave A and wave C are equal in length. ABC Pattern From October’s 2020 low through March’s high, NEAR developed its first leg A. The price correction going from March’s high through July’s low represents the second leg B of the 3-wave pattern. Based on the Elliott Wave analysis, the continuation higher within wave C can end anywhere between 100% and 1.272 Fibonacci ratios, which is between $8.84 and $10.83. On the flip side, a lower correction will find the first level of support at $7.56, followed by the $4.11 level. RSI Momentum On the RSI oscillator, we have positive momentum readings above the mid-level 50. If we have a lower reaction and the RSI momentum readings remain above the 50 level, the bulls are expected to keep control. A daily close below the considerable psychological number of $10 can signal that a correction is underway, at least in the short term.
BINANCE:NEARUSD
by cryptohopper
0709 2308 ABC Strategy Recap( UC,UJ,GJ,USOIL,GOLD)Hello traders, For the last week recap, details like this: 1. USDCAD got hit TP1 2. USDJPY still trying to break through triangle for a new swing down 3. GJ hit TP1 and moving up to 2nd TP 4. USOIL is running an ugly ABC wave but daily chart is still strong bullish. Try to look for a entry to buy this week. 5. GOLD hit 1830 WITH IMPULSE LEG ON LAST FRIDAY. Details in the video. GOOD LUCK THIS WEEK! LESS IS MORE!
TVC:USOIL
by FUNTRADER-Vera
4
Adaniports - Elliott wave analysis - B of ABC correction Adaniport - It is in ABC correction and B wave looks like forming triangle and one more wave away to finish it before C wave starts moving down. Below 653, it will going to bearish and can go more downside up to 560 or lower. There is an alternate path of making B wave as abc and can go little higher up to 760 before it turn bearish for next leg as less probable count. Share your comments, if you agree or not or having alternate count. Thanks
NSE:ADANIPORTSShort
by rJ68263746
Market Structure Alignment EURUSD --- ABC Correction magnifiedMarket Structure Alignment EURUSD M = bg W = bg D = brg H4 = brg H1 = brg M15 = br M5 = br M1 = br CODES: b = Bullish bg = Bullish Range br = Bearish brg = Bearish Range Bimb = Buyers IMBalance Simb = Sellers IMBalance H = High HH = HigherHIGH HL = HigherLOW L = Lower LL = LowerLOW LH = LowerHIGH Black = Monthly Red = Weekly Green = Daily Yellow = H4 SkyBlue = H1 NavyBlue = M15 Pink = M5 Purple = M1 Orange = Alerts
by N934rex
1