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Corrective

My view after two years (Sharp correction pattern)Hi there, I wanted to share my thoughts on Sharp's corrective pattern with you. I have been studying this pattern for about two years now and it follows three basic rules. The pattern consists of five waves that are similar to the impulse pattern. Based on my personal experience, this pattern can also be labeled as a triple zigzag (W-X-Y-X-Z). While analyzing different markets, I found a similar number of this pattern and often labeled it as an impulse pattern by following the rules. As per the wave principle, after the completion of five waves, we look for three corrective waves which may also become more complicated. However, we then look for five more waves to complete a good zigzag pattern. But the market often surprises an analyst at this point. I hope my explanation helps you understand Sharp's corrective pattern a little better. Good luck!
FOREXCOM:XAUUSDEducation
by mehdi47abbasi79
DXY D1 - Corrective Signal DXY D1 XAUUSD experienced a substantial surge, mirroring the impressive ascent of US30, US100, and other ***USD-based instruments. This surge was prompted by a notable sell-off in the dollar, aligning with CPI figures that fell below expectations. The market displayed a strong, one-directional momentum, creating a powerful and widespread impact across various financial markets. Notably, the forex market witnessed this noteworthy movement, adding a refreshing dynamic to the usual fluctuations. Possible corrections expected today, we also have UK CPI inflation figures to look out for, which will have and impact on the likes on GBP*** pairs.
TVC:DXYLong
by Trade_Simple_FX
ELLIOTT WAVE STRUCTURE BASICShere is some basic principles to discern between Corrective and Impulse. For corrective waves, it helps contextually to have a wave prior to measure the timing and retracement to. A simple way to tell the two apart is their retracements either do or do not intersect each other. A trending impulse wave will never have wave 4 enter wave 1's territory, and never surpasses 2. Otherwise the wave count is incorrect. The left-most corrective waves (ABC) are generally classed as 2nd wave structures, and the corrective waves on the right (ABCDE) are generally wave 4s. important to actually do the homework and chart the waves, and the waves within the waves. With many revisions, will notice that waves in whole are congruent within the structures within, and so forth. aka fractals.
BITSTAMP:BTCUSDEducation
by jjbuttersnaps
EUR/USD - Bearish ↓Eur/Usd Expecting more downside on EU. Weekly Time frame - Structure is bearish making LL & LH Rejected the descending trend line & 61.8% Fibonacci Looks like the end of wave 4 Daily time frame - Price action is in a correction after an impulse to the downside ABC correction of wave 4 Price did break out of the descending trend line temporarily but closed back inside creating the rejection on the weekly. Keeping in mind that we do have the 78.6% Fibonacci above current price which aligns with previous structure. I will be monitoring price action and looking for sell entries on the H4 & H1 to complete wave 5 of this impulsive wave. Targeting the -27% Fibonacci. This correlates with the DXY chart i posted last week expecting USD strength
by UnknownUnicorn26193975
3
Gold Rush Soon?Gold has been making noticeable corrective & impulsive moves between 1785-1797 . It resisted at 1797 as predicted, and also is what caused the corrective move back down to 1782 . Strong impulsive move was also noticed after 1782 was tested; could expect a bull run (impulsive) towards 1792-1810 . If Gold cannot break 1795 , and closes under that price, we could expect another corrective move down back to 1785-1780 , within 2 hours or so. NOTE: Please do not take this as confirmation as buy/sell signal. This is my general idea and opinion on Gold's momentum.
G
by UnknownUnicorn18841315
📚 Understanding Price Action - Impulsive & Corrective Moves 📚For every currency pair, all the price action can be broken down into 2 different waves. Impulse waves and corrective waves. Both of these waves have the same patterns within them such as flags, ascending/descending corrections, channels etc. The tip to finding out what phase we're in is to zoom out to a bigger timeframe and look at price action as a whole and ask yourself "is this impulsive or is this corrective". Once you understand that, you can more often than not understand where price will be going next. For CADJPY, we are in a flat ABC triangle and we are approaching the upper limits of the triangle. We also are in an ABC correction. On the smaller timeframe, if things line up, we can get in at the very top of the impulse and ride this back down! Try spotting corrections and impulses and watch how your chart game levels up!
Education
by WicktatorFX
11