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Correctivestructure

WTI Oil, H4 - possible wave CThe recent sharp upward movement on the oil market caused by Donald Trump’s tweets looks like a possible wave C in a larger corrective movement. Previously the price of crude oil has reached the new low and has created a potential wave B which consists of three waves down. Before wave B we may spot a nice sharp rally which could be labeled as wave A. Currently the wave C may have been created. The potential resistance may be located at the wave A top near 28,20 USD. ________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
TVC:USOIL
by Daniel_Kostecki
1
W-X-Y Correction Predicts a BTC Bottom On June 29, 2020 Type Of Correction: The main difference between a regular A-B-C correction and a W-X-Y is the sub-wave count. While the A-B-C formation often has a 5-3-5 or 3-3-5 wave count, every wave in the W-X-Y correction consists of three sub-waves, amounting to a 3-3-3 correction. Since the W and Y waves often have the same length, this correction could end in June 29, 2020. Possible Bottom : The decrease from the top of the W wave to the top of the X wave was 37.41%. It would make sense for the decrease from the bottom of the W wave to the bottom of the Y wave to be similar since the W and Y waves often have the same length, giving a low of $2200. Future Movement: : It seems that the price is in the C sub-wave of the larger Y wave. This is expected to be an extended wave, similar to the C sub-wave of the W wave. Please leave a LIKE & COMMENT to support my future analyses.
BNC:BLXShort
by BitcoinMaximus1
USDCHF Can Be Finishing A Big Bullish TriangleHello traders! Today we will talk about USDCHF in which we see an interesting wave structure. USDCHF is trading in a big sideways range since 2015 and more and more looks like a big bullish triangle formation in wave (B) that can be approaching the end soon, ideally this year in 2020. We see it actually in the final stages of subwave E of (B), which is clearly falling in a corrective structure with three waves a-b-c, so if that's the case, then downside should be limited. Well, if USDCHF finds the support and bounces in an impulsive manner here around the corrective channel support line and lower red triangle line, then we can start considering bullish scenarios, but keep in mind that only an impulsive rally back to 1.00 – 1.02 levels and decisive break above the triangle line can be a confirmation for a completed bullish triangle that can send the price even much much higher towards 1.10 – 1.15 area. Be humble and trade smart. If you like what we do, then please support us with a like. 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.
Education
by ew-forecast
10
AUD/USD short !!!!Hi Traders lastly we have AUD/USD. On this pair you can see we are currently in a downtrend ,predicting this market will keep going down ,the Aussie economy heavily rely on China and with this virus going around I don’t see any reversals yet. So any pullback in this pair ,preferably come back to retest broken support in this case(0.67420) we’ll be looking for bearish patterns and formations. And if we get the right bearish setups in this market we’ll be looking at shorting this pair to the downside target (0.6604) Give as a like and follow for more Good luck traders!!!!
Short
by FX-SPOT
2
EW Analysis: Bitcoin Can Be Bullish Confirmed NowHello traders. Today we will talk about Bitcoin from the Elliott Wave perspective. After that strong and impulsive rise in the first half of 2019, BTCUSD has slowed down in the second part of 2019, but clearly with slow and complex W-X-Y corrective structure that can be also finished with an ending diagonal (wedge pattern) in wave Y, which is actually a powerful pattern and it usually indicates sharp and impulsive reversal. Not only this, we actually got a five-wave bullish reversal, which in EW theory signalizes a potential bottom at 6400 level, at least a temporary one. But, after every five waves, a three-wave a-b-c pullback follows, ideally into a higher degree wave B/2. So, before a continuation higher within wave C/3, we should be aware of a slow down into a correction, where ideal support would be between 8200 - 7700 levels. All that being said, we believe that Crypto market is turning bullish, mostly because of strong and impulsive five-wave rally from the previous lows. Even some ALTcoins made nice and clear five-wave rise, so those Cryptos can easily see more upside, just be aware of a deeper three-wave a-b-c corrective decline soon before the uptrend resumes. Be humble and trade smart! If you like what we do, then please like and share our ideas. 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.
BITSTAMP:BTCUSDEducation
by ew-forecast
9
4H NZDUSD Elliott Wave CountLet's count waves. Do you see the same potential upside for this pair? I am a beginner in Elliott Wave Analysis and this is my sentiment. The minor impulsive wave in RED has been completed and corrected via an ABC structure with 5-3-5 sub-waves. The parallel lines connecting the end of wave B and the end of wave A usually forecast the end of wave C as shown. Price is currently at a key level marked in the red rectangle which has shown to be resistance and in the past was support level. Finally, the RSI indicator is currently at 31.20 as I type this and signifies that the price is oversold. Comments, critiques, and anything else is accepted.
Long
by mrdiin
2