Possible corrective structure on CADJPYI think that we're going to finish the C line and then upside. Lets see!
Correctivestructure
Bulls Waking Up SoonLTCUSDT has seen a very healthy correction thus far (along with all other top crypto). Lets see if this is the bottom or not. I've since changed my position from a 5-3-5 zig zag correction to a 3-3-5 regular flat. A few weeks ago I missed the top estimate, but nailed the severity of the correction (I think). This seems to confirm to me that LTCUSDT and LTCUSD has seen a complete overall cycle wave 1. This correction end point will mark the end of wave 2.
First indication: The current price is jostling directly on the overall cycle .5 re-trace. Very popular reversal for wave 2.
Second indication: It is riding its lifetime uptrend. While I expect a breach of this uptrend before beginning wave 3 to create a new uptrend, I still think this is a very good indication for at least an end to correction wave A as it presents a psychological border.
Third indication: 1HR RSI shows large bullish divergence while 4HR RSI shows oversold breach.
Fourth indication: Take a look at the -/+ volume in this triangle forming as compared to the last week. Traders are getting restless.
I see three possibilities from this point:
1) Optimistic in Green - Begin overall cycle impulse wave 3 to 120s.
2) Realistic in blue - Begin correction wave B of overall cycle wave 2 to 70-85 region before beginning wave C down. I see this as the most likely due to the short time this correction has been running if it is truly a correction to overall cycle impulse wave 1.
3) Pessimistic in red - Charlie Lee is the devil and wants to watch the world burn with extensions of current down.
Stop set to 40.5 in the event of scenario 3.
Keep an eye on BTC as it's the one that seems to drive the crypto world.
Let me know if you agree or not. I welcome your constructive criticism.
Possible daily structure on AUDUSD Daily structural view, maybe we will get something like this. I also know where I went wrong on the previous post. I will post that in the updates.
Bullish corrective structure on EURCHFWhen the price break the low, the direction of the price might change and then we're going to have one more impulsive up move.
EUR/CAD Broke Key Support!EUR/CAD is currently just under the the key support line. It has been in a downtrend for some time now. Currently it looks like it is in a small corrective structure and we are now retesting the key support level. If it retests and bounces down we are looking to sell, however if it breaks through the support and goes up, we would be looking to buy. Trade safe traders.
Dash In An Ideal Triangle CorrectionDash trapped in wave 4 triangle like BitCoin and LiteCoin. We assume that Cryptocurrencies are in positive correlation, so we have to track this triangles. Triangles are typical for wave 4, so we are expecting new highs in next days/weeks and @500 psychological level can be seen.
ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
GBP/AUD Looking to sell in the near futureGBP/AUD is nearing the top trendline of the bearish flag it is currently in. This if the key level at 1.63898 is respected I will be looking to enter a sell trade all the way to the bottom trendline and if it breaks out even lower. If the key level is respected the gain we are looking at till the bottom trendline is roughly 190pips. However, if the key level is not respected the idea will be voided and I will avoid the trade. Trade safe traders.
AUDUSD corrective structure! Expecting a move lower shorter term, with a possibility of longer term downside!
Correction Over or More Drop?This morning BTCUSDT entered my projected buy zone. If I counted right, BTCUSDT just completed an Elliott ABC 5-3-5 Zig-Zag style correction. I feel like It's pretty close to being done as it appears to have finished directly on the overall uptrend line. This point also terminates wave ((C)) directly in the middle of FIB 0.618 and 1.0 of wave ((A)) which are two common and reliable distances for projecting zig-zag corrections.
However, In light of China's ICOs trials: immediate customer payback has been ordered and ICOs have been outlawed. The way I see it, this could either cause more drop in the crypto market overall as money is syphoned out to cover paybacks or the money has already been syphoned out in preparation for paybacks meaning room to grow as customers re-invest into existing crypto. I have since changed my position from long to neutral and set buy/sell stops.
BTC still seems to dictate the market for the majority of alt-coins. This correction ending or extending should spark similar reaction in most crypto. I'm keeping an eye on BTC to decide what to do with my alts.
Please let me know if you see anything different or know something I did not account for.
Stop buy will be set to 4600 with a stop loss set to 4100. Hopefully this covers either scenario.
AMD correctuve structure! Update from idea way back where I thought we'd make a top (higher degree correction) getting a little better at reading into the structure! Thanks for looking!
Consumer Portfolio Services corrective structure!#CPSS has been in a corrective downtrend for a while. Will this just be an ABC flat for more down or will this be another big up before the subprime loans crash??
Elliott Wave & Harmonic OutlookI think we have a corrective bullish ABC structure being forming in progress , in which wave A is a Leading Diagonal , and the current wave forming is B which is WXY corrective pattern and can ends down to the pink 1.618 fibo level , but I think we have a good possibility for that corrective wave to end at the pink 1.0 fibo level as near that level an Anti Nen Star Harmonic Pattern will be formed . That green zone is a strong PRZ to the up side to form the final bullish wave C
as long as price holds below the dashed red horizontal line , short position can be placed to 1.0 pink fibo level , then look for any signal to go long as long as price holds above the pink 1.618 fibo level
A thread about STRUCTURE!This entire thread will be for STRUCTURE!
In the "idea updates" column I will be posting all types of
corrective and impulsive structures!
When it comes to trading the waves, the 12345ABC we all
love to draw when we first learned about the theory will be
useless (most of the time)
What we should focus on is if we're in correction, and if so
how the heck can we trade the next impulse!
Every instrument I look at i will post here.
As long as there is structure it will be fine to be posted here!
CAD/JPY Corrective Structure OverCAD/JPY has a very similar setup to AUD/JPY, (check my previous idea). Wait for a small flag before entering a sell trade. Although downside is almost certain. Trade safe traders.
Potential corrective structure forming on AUDUSDIs AUDUSD forming a three wave corrective structure ? Let's see...
GU looking closer to the internal structure! Update for the daily chart I posted. Maybe we will get the sell setup next week! Hmmm? Bias is short but staying out until I get my signal!
EURGBP ending diagonal?Hey traders! The daily structures showing one more down is a strong possibility. Is this an ending diagonal pattern on the 1hr and will it help us get a good entry for the daily structures down move? We will see!
UJ complex correction Let's see maybe making big FLAT or WXYZ what ever you want the important part is trading the right side!
GBPJPY Flat or Triangle or neither? Let's see if we get some bullish momentum near the lows. Will post chart updates on this one
AUD/JPY Corrective Structure OverAUD/JPY has just broken out of the corrective strucutre it was in. This further confirms the expected downside movement. Trade safe traders.
