Abcpattern
AUDUSD ABC Correction ComingAUDUSD has bounced from a yearly low and is starting to show signs of a reversal pattern. Waves 1,3,5 are impulse waves which you can see broken down in the 5 wave (light blue). Waves 2 & 4 are corrective ABC waves (pink). The purple shows the completion of the first 5 waves which represents wave 1 (white) of a larger Elliot wave cycle. Wave 2 (white) would be the ABC correction of the larger wave 1 (white). Following the fifth wave (purple) is usually a larger ABC correction (pink) of the entire first wave (white). This upcoming ABC correction would represent wave 2 (white) of a larger Elliot wave cycle. Potential targets for shorts would be 0.67900 & 0.67500. If price consolidates around the 0.67500 and begins making a impulsive movement up we will look for a long opportunity. This long would potentially be wave 3 (white) of the larger Elliot wave cycle. Will update after the completion of the ABC correction. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.
btcusdthis is the last wave!
this wave must be an abc pattern with 3 sub-waves, and then the downtrend begins...
TLT, how do we predict time?A question traders ask themselves a lot, especially options traders is WHEN exactly price will hit certain targets. By using a Fibonacci timing tool that uses a high as point 1, a second later high as point 2, and the low in between them as point 3, we can project Fibonacci extensions that indicate potential trend reversals, or in this case aggressive extensions of the existing trend to the upside in TLT. One can see from the arrows in this 2 day candlestick chart how accurately the tool has worked is the past but where are we now? I think we may have topped short term and are currently in the B leg of an ABC correction (this is invalidated by TLT making new highs). We may top in the B wave next week (10/11) and if the B-C leg of the correction is equal in duration to the A leg then 10/29 may mark the bottom in the 130s, that is another timing tool one can use for ABC corrective moves. Please ask any questions.
ABC almost done?Matic seems to move in these corrective patterns. could see as low as 0.00700. but if btc stops around 7.4k. matic should be safe above 0.00900 with a new high after
BTC coming hours for last leg downwe should see one last wave down making 5 waves, it wont look as clean as my waves but somewhere we should make out 5 of them. in a bigger time frame this would be completing a full ABC correction. i will link my chart i made back in july and have been updated with this correction. once this plays out. in a few weeks ill be updating as the bull market moves on
CADJPY 4H - SIMPLE ABC STRUCTURE (Can you see it?) CADJPY
Setup:
Double Bottom
Confluence:
ABC
BRN
CRS
Entry:
Buy @ 80.95
SL @ 80.65
TP @ 82.00
TAYOR
Let me know what you think :)
Platinum ABC BreakoutIf price breaks above B wave then enter trade long up to resistance.
Price is in an ABC pullback as can be seen, we want confirmation that price will continue up, this confirmation is the break of B wave, however needs to watch price as we can see if struggling on the weekly 200ema.
Be patient and wait for the break
US 30 in ABC Correction? Road to ATH; in Handle of CupVolume lessens on rising prices, increases on downdrafts. RSI divergent. Small caps have reached .50 Fibo retrace off September's lower high.
SP500 and Dow have a gap to fill down to the 0.50 Fibo.
Three-day rally feels like a B wave, chaotic and widely fluctuant. If so, expect C wave down to the gapfill at the breakout point from Cup near 26300/SandP 2942.
A hedged short here is probably a fair R/R as EOM 'window-dressing' is likely to finish what seems to be a modest correction. The ABC is consistent with Intermediate Wave 2 of a Primary wave 3; markets should enter third-in-third wave on completion of the modest correction. A severe tankoff would invalidate this hypothesis!
IMO another major October downdraft is unlikely as these rarely happen two years in a row; but anything is possible in this mad market.
Taking a small short position on indexes with the gap up in AM on 9/27; this gap will very likely fill in day; first week of October is likely to be choppy.
Completing a corrective wave might coincide with positive trade news in Mid-October; if the outcome is disappointing expect a deeper selloff.
Still very chancy. Indicators to watch: RUT strong support at 1500 (IWM 150, now trading near 153); small caps have been a leading signal canary.
I'd close shorts with IWM at 150; DIA at 264; SPY at 294, if and when they get to these prices. An ABC complete wave could well provide launch point for next bullrun.
Longer-term still Bullish going into New Year, I'm not convinced this appearance of H&S in the monthly chart is really going to rollover. We shall see!
This isn't investment advice; just an idea, trade at your own risk; GLTA!
A Fly - B Retrace - C Fly for AU? AUDUSD
If price follow this ABC pattern, and if B leg already ended, then price going to fly. Conservative target: Retest of A.
Invalid if the structure broke lower.
Entry:
Buy limit @ the right shoulder @ 0.6780
SL @ 0.6750
TP @ 0.6900
TAYOR
5-3 Elliott Wave cycleFurthermore, he found out that this 5-3 Elliott Wave cycle can be found on all degrees of trend. It stays the same, regardless of whether we are looking at a yearly or a five-minute chart.
www.profitf.com
www.profitf.com
BTC Crypto Market Cap Dominance - Decline in sightBTC dominance appears to be within a Bearish Pennant...
This is my current count here...
Also within a Rising Wedge...
5Day Bearish Divergence with Declining Volume at the top of the trend line...
I expect BTC to decline in dominance within the Crypto Market cap within weeks if not days.
Macro Elliott Wave? ABC Zig-Zag or Flat Formation?(Using the BraveNewCoin Liquid Index for Bitcoin (BLX) on a Monthly time frame - log scale)
Are we in a Massive Macro Elliott Wave that started back during our first bull market in 2010?
If so are we seeing an ABC formation and will it be a Flat ABC formation that takes us back down to the bottom of our bear market of 2018?
Or
A Zig-Zag ABC formation that will take us down even lower than our December low of 3.1k, possibly as low as 2k or even mid to low 1k region?
Interested in hearing your thoughts below.
AUD/NZD Continued ShortLooking for a continued short in the AUD/NZD, Daily is continuing down within its channel.
4h is performing an ABC pullback in a triangle formation, a break of this will show a continuation to the downside.
Will be entering the trade on the break of B wave, short trade down to the support level where i am expecting a bounce
Bitcoin - ABC Correction - The market, it's math!BTC is reaching a key point of support and Fibonacci level. A significant bounce would be expected at the end of Wave C and Wave 5 anywhere between $9 - $9.1K (1.272%) After that counter-rally it will be time to re-evaluate to see if the major correction is over, or if this is just a breather before further down side. ($7K-8K range) A 40% total correction is down around the 1.618 Fib on this chart for a percentage reference. Also for a point of reference, those two blue boxes are exactly the same height showing the symmetry of this latest move (AB=CD - ascending broadening wedge). The highlighted channel I put on the chart looks very much LARGE bull flag does in not? (something to keep in mind) Long term I am still extremely bullish , short term we still have to feed the bears a little poisoned meat to occupy them so we can circle around the path and continue up this mountain. A 4 Hour view of the same chart. The current price action looks like it wants to head to the lower Fibonacci line
The market is sovereign
The market is antagonistic
The market is not find
The market will devour you
The market will teach you
The market will hit you.
The market does not forgive the novices
The market will lead to your soul
STUDY! This is MATHEMATICS!
US 30 in ABC secondary correction; long-term outlook: BearishHere we go again! Expect bearish next week, brief relief rally after FOMC, possible retest ATH; then the real drawdown.
Just another crackpot idea; trade at your own risk! GLTA!!
EOS Elliott Wave Theory (Revision)Looking back at my previous assumptions in regards to this Elliott Wave pattern and in combination with the Ichimoku indicator, I initially underestimated the depth of the correction and thought that we may have more support in the form of a Kijun bounce before making a move into the cloud and a potential edge to edge move once within the cloud.
While still learning many aspects of Elliott wave theory, I believe that the ABC corrective move could now be complete. In an ABC pattern, Wave C can typically be 123% – 161% of wave AB which looks to fit into the current fibonacci measurements well.
This week's candle is forming a bullish hammer reversal pattern. In the medium term, I think a move into the cloud and a subsequent edge to edge move within the cloud is still possible with a price target around $12.23. This price target is represented by the long, flat top of the kumo cloud which acts like a magnet. The longer the flatness of the Kumo, the more powerful it is as a support or resistance level and the more powerful this Kumo magnet becomes.
BITCOIN - CORRECTION COMPLETE!?AN EQUAL MEASURED MOVE IN BITCOIN WITH A PERFECT ABC CORRECTION.
WE ARE AWAITING MORE DATA BEFORE ENTERING ANY TRADES. WE ARE, HOWEVER, LOOKING FOR A BULLISH CONTINUATION.
Bitcoin - ABC follwed by ABC ??? If so, better prices ahead.If this is another valid ABC correction that just finished instead of Wave 1,2, and the start of Wave 3 then we should see better prices going forward IMO. Still long my core position but took my trading profits around the top of what may be the completion of Wave C. Of course this is just one person's opinion. Many are still calling for $14K or higher right now. I don't know. This is what I see. The price could still reach out to the 1.272 and this pattern is still valid. All it means is that I jumped ship a little earlier than necessary. I do that sometimes. :0) I would also add that if prices breach well into the top of Wave A then this would be an additional confirmation that lower prices are to follow. We've come close, but not yet...
Good luck!
Bitcoin ongoing correctionAs the global parabolic trend has not yet been broken, we might complete the ABC correction wave and then continue the growth. The growth will be invalidated if the price breaks and holds below 10200. Then I'd expect a longer fall.
I would not enter a short right now as the global trend is still positive.
IT'S AS EASY AS..._____________________________________¶¶___________
________________________________¶1¶1111111¶_______
________¶¶111¶_______________¶¶¶¶111111111¶¶¶1____
_____¶1¶¶¶¶¶111111¶_________¶¶¶1¶¶¶11111111¶1¶¶___
___¶¶¶1¶1111111111¶¶1______¶¶1¶¶¶1111111111111¶¶¶_
__¶¶1¶¶1111111111111¶¶_____¶¶¶1¶¶¶¶1111111111111¶_
__¶¶_¶1111111111111111¶¶___¶¶¶¶¶¶11¶111111111111¶_
_11_¶11111111111111111¶¶_____¶¶¶¶__¶111111111111¶¶
¶¶¶¶1111111111111111¶¶¶¶_____1¶¶__11111111111111¶¶
¶¶¶¶11111111111¶¶¶¶¶¶¶______1¶1¶¶11111111111111¶1_
¶¶1¶1111111111111¶¶¶¶¶¶_____¶¶¶¶¶¶1111111111111¶¶_
¶¶11111111111111111111111¶¶___¶¶¶¶¶¶1111111111¶¶¶_
_1¶111111111111111111¶¶¶¶¶¶____¶¶¶¶11111111111¶1__
__¶¶11111111111111111¶¶¶_____¶¶¶1111111111111¶1___
___¶¶¶111111111111¶1¶¶¶____1¶¶111¶1111111¶11¶1____
____1¶¶¶11111111111¶¶¶¶111¶¶¶¶111111111¶11¶¶¶_____
______¶¶¶¶1111111111111¶¶¶¶1¶¶¶¶¶¶¶¶11¶11¶¶_______
_______¶¶¶¶¶11111111111¶111¶___¶¶¶111¶1¶¶¶________
_________¶¶¶¶¶¶111111111111¶__¶¶¶111¶¶¶1__________
____________1¶¶¶¶¶11111111¶¶_¶¶¶¶111¶¶____________
______________¶¶¶¶¶¶¶1111111_¶¶¶11¶¶1_____________
_________________1¶¶¶¶¶¶1111¶¶¶1¶¶¶¶______________
____________________¶¶¶¶¶¶1¶¶¶¶¶1¶________________
_______________________¶1¶¶¶1¶¶¶__________________
___________________________11¶____________________
