Correctivestructure
Looking for a sell set up Price is really struggling to push higher and forming an ascending channel, with the corrective movement i really am expecting some downside momentum to kick in
EW Analysis: Silver Is Pointing Towards 2019 HighsHello traders!
Today we will talk about Silver and its price action from Elliott Wave perspective.
Metals are in an impulsive rally, especially Gold, but since March, Silver is doing much better if we take a look at the GOLD/SILVER ratio, which is now turning bearish and there's actually room for more weakness after recent corrective slow down. So, it means that Silver may continue to work better than Gold.
Silver is in the strong uptrend from the beginning of March and it's ideally unfolding a five-wave cycle back to the 2019 highs, so current slow down can be just a temporary correction in wave 4 before we may see another leg to the upside, probably final 5th wave that can send the price up to 19 area.
In the 4-hour chart we are currently tracking a bullish triangle within wave 4 that can be approaching the end soon, so a rise into a 5th wave can be around the corner.
Be humble and trade smart!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
long after break of descending channel Waiting for a break of the descending channel to the downside to look for potential longs to around 1.09
GBPUSD Sell forcast Looking for the Y leg correction down before a buy trade develops to complete wave 4
EW Analysis: BTC Is Losing Dominance, But Only TemporarilyHello traders and investors!
Today we will talk about Bitcoin Dominance and its wave structure from Elliott Wave perspective. We will also show you how it can be useful in analyzing XXX/BTC cross pairs with the help of EW.
If we take a look on BTC.D daily chart, we can see a sideways consolidation for almost a year which usually suggests a corrective movement, especially if we see a three-wave w-x-y drop in the first leg »a«. Well, we believe that BTC.D is unfolding a bigger bullish triangle pattern and current decline can be just as part of wave (c)/«c« that can find support very soon, ideally in the projected support zone around 64-63 area.
Be humble and trade smart!
If you like what we do, then please like and share!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
AUDCAD forecast with two possible scenarios for months to comeThis is my current view in weekly time frame. If you have a different view on this chart please let me know in the comment section. Please trade with care.
Long after corrective patternWaiting to see if some form of corrective pattern forms.. will then be looking for long opportunities
Possible long-term outcomeExpect to see the momentum to the upside slow forming some type of ascending channel
#AUDCHF Long after the break Currently looking at retails traders trying to push price lower and its just not working
Waiting for confirmation that the big boys are back in the market and ready to push it long again
Near the TOPAs you can see in the related ideas, I was expected the eurusd above 1.12. Now here it is.
There was a big swing during the coronavirus and now a three waves correction has been working. The price climbing higher in wave C which is getting matured. The upper line of the rising corrective channel should represent a resistance zone around 1.1250 - 1.13.
The rising trendline from wave (e) of ((b)) shows the wave C flow. If it will be broken down then the top wave C would have been found its place.
My long positions are partly closed and waiting for the rest closing(eliminated risk). I won't open further long and wait for the reversal signs for preparing to open short.
Corrective ascending channelThink this could be the last option for EU bears... the flag pattern didn't want to hold form.. so let's see what price action we get by the morning
#EURUSD - ShortLooking to open a short position if the bear flag pattern forms and becomes valid.
If not i will be looking for a deeper correction back up to the major resistance in the form of an ascending channel and then be looking for shorts.
#GBPCHF - Short after correction Waiting to see when this correction might finish for a big push down towards 1.12
