Abcpattern
sell S&P 500 after it broken the up trend linesell S&P 500 after it broken the up trend line
SP500
TYPE : SELL
TF : H3
ENTRY PRICE : 4420
STOP LOSS : 4485 (65 PIPS)
TAKE PROFIT : TP1: 4400 TP2: 4360 TP3: 4320 TP4: 4280 TP5: 4215
XLM forming ABC correction, setting up for big rise?ABC correction forming
Fibs are lining up nicely
Ichimoku Conversion line down crossed Base line, calling for a correction
Expecting local Fib correction to around $0.26 - $0.28
After it could make a move up to a 0.702 retracement from the ATH in May. Retest of local ATH at $0.42 possible, could also shoot straight through to set new ATH.
New ATH would be $1.01 to $1.16 according to a hyper-extended Fib from the entire market.
Personally I will open trade after the daily closes inside Ichimoku cloud after the buy zone. I do not currently hold this coin.
If u knew about Neo you know what is going on but if you dont?!Neo try crosses up its dynamic resistance trend line and keep pushin, if we wanna setup eliot waves probably we are in 3th wave ABC correction, and the target may will be the fibo 0.618 retarcement. Also we are right on support zone at 4h time which is already confirmed at this level.
Trade Safe ,Stay focus !!!
Bitcoin's Path Ahead!As discussed on multiple occasions here on TradingView, Bitcoin is likely in an ABC correction. We called the bottom at ~$30 000, yet with the possibility of a final mini dump towards the $27 500 area. Regardless of what, Bitcoin has now initiated its B-wave. This B-wave serves one purpose and one purpose only: to trick the bulls that everything is fine from now on. One technical area of high interest is the diagonal resistance that coincides with the 0,5 fib. This is an area that I will pay extra attention to.
With that said, whenever any underlying is trading within either a range, formation or consolidation, they tend to ignore regular indicator supports and resistances. Depending on how Bitcoin were to proceed from here we will assess the ~$46,500 resistance differently.
As recently discusses Bitcoin is most likely developing a zig-zag ABC correction as the A-wave consisted of 5 sub-waves. This naturally concludes that the B-wave should consist of 3 sub-waves in turn. By this token, if Bitcoin were to get its B-wave of the B-wave correction at for example $42 000 then chances are dramatically increased that the $46 500 area will be the final level prior to initiating a steep C-wave to kill off any final bullish enthusiasm.
If, on the other hand, Bitcoin were to go relatively straight towards this area and then get rejected, chances are that it will continue further up until it's done with the B-wave. Such case would pave the way for a flat, in which the aforementioned bottom at ~$27 500 would be the likely and absolute bottom in case of an expanded flat. Otherwise, a bottom between $30k-35k is more likely in case of a regular or running flat.
Time will tell. For now it all comes down to HOW Bitcoin will move up towards the mid to late 40 000 range.
USDJPY - Daily C wave (short) is upun us!Hello dear traders.
For upcoming week, i believe that we are gonna see some shorts on USDJPY According to ElliotWave theory.
If you look at the Daily chart, you will understand that we are in at the end of the B of an ABC correction. Potentially we are at the start of a short move, C wave, which gonna last for 1 or 2 weeks. with no more talking I am gonna explain a trade setup that enable us to go short with minimum capital exposure.
1- Pattern:
1.1: Daily pattern (you can check my previous analysis on USDJPY in the idea section of my profile)
ABCDE correction that started since 21 April and lasted until 17 jun, has been ended and confirmed with a powerful bearish candle in Daily timeframe chart.
1.2: 30 min pattern
we can see in 30 Minute Time Frame, that downward waves are shaping according to motive waves structures. This can be a great reversal sign for us to jump on a short trade that may last for 1 or 2 weeks.
After 12345 (motive) we should face a correction phase that not gonna last for too long. A and B of this correction has been shaped already, so all we have to do is that to wait until the C is over.
Note: the correction may be a zigzag, since B of the 30 min TF has only retraced for 0.618 of the A wave.
2- Price:
I have set a price PRZ for 30 min TF, that includes:
downward motive wave Ret: 0.786
Projection of A on point B: 1.00
B extension: 1.414
I have highlighted the area with a red rectangle on the chart.
3- Time analysis:
In Daily time frame, we are at a powerful time PRZ that includes:
Time Retracement: last weekly movtive wave : 2.00
time retracement: 0-a of abcde (B of ABC): 7.00
time retracement: a-b of abcde (B of ABC): 2.00
time retracement: b-c of abcde (B of ABC): 2.618
we are right in the zone right now, so this is a huge point for our POTENTIAL reversal to happen!
4- Invalidation:
If the price goes beyond 110.824, the setup on 30 min time frame will be invalidated and we should not open any short trades afterward based on this analysis.
5- Confirmation:
We must see reversal signs (candle stick patterns, etc.) on our reversal zone for C, and then price must goes lower than B of ABC, then we can confirm our setup and open our short trades.
6- Stop loss: will be 5-10 pips above start of the 1-2-3-4-5 motive (110.824).
7- Take profits:
Will be updated if our setup begins. but profit will be good since we may go short for 7 to 14 days.
I will answer your question my dears, if have any please go on and ask in comment section.
Also thanks for the time you have put to read my setup.
best of luck,
NIFTY CLIMAX RALLY TO 16000With all odds absorbed NIFTY will make its landmark figure 16000 on 10/06/21
It is a simple ABC correction with C=1.62*A
nifty will hold this level for day long so ,the TRADE PLAN is
take LONG today (09/06/21)for profiting long calls.
take SHORT tomorrow after 3.15 pm(10/06/21)and keep it for 3 days for 15450 levels
EURUSD - Elliott wave – monitoring wave (ii) evolution prevailing scenario
wave (ii) maybe over in abc subminuette correction
monitor prices evolution in an impulsive mode
ALT: continuation of wave (ii) either in a simple or complex correction
critical price area
previus daily close 1.2077
PP/FIB 1.2080 PP / 1.2131-1.2153 (fib 0.618 – 0,786)
static S/R 1.2106 key – 1.2153 critical
volatility D 1.2058-1.2156
BItcoinand know the correction wave is completely clear.
the price is near to one of wave four cluster.
according to my last bitcoin analysis i am waiting for bitcoin in a price cluster 44000-41000$ or if the correction become deeper I'm waiting for 35000$ or over 31000$.
you can see my ex analysis about bitcoin and bitcoin price targets in my profile.
ARKK ShortARKK Short
ABC Pattern
SMA50 as resistance
OBV<OBV34
W%R Above 50 -- not good in this trade
Entry 123.7
Stop 133
Target 80
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
HLX LongWeekly chart
Bottom ABC pattern
SMA20/40 as support
Double bottom + revisit neckline
The estimated Waves are price only, not accurate time.
Entry 5
Stop 3
Target 12
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
XSPA LongBottom ABC Pattern
In Wedge Pattern
Max Volume Profile at 2.00
Entry 1.7
Stop 1.00
Target 7
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
Theta hit and cleared $12.00. What is next?Well yes. I bought more a little under 12$.
Price action shows developing support after the recent surge.
Wave C is still a possibility for the pattern to complete.
With a symmetrical triangle forming, an ABC correction wave is not necessary.
Limit orders are set from 12$ to 10$.
Let's stack them.