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Correctivewave

GBP/AUD Impulsve Wave, Correction Now then Another Impulse WaveGBP/AUD has a completed head and shoulders pattern, the first impulse after the head and shoulders is complete. After every impulse there is a correction wave, which is what we are currently in. After the break of the wave we should be looking to see another impulse wave to the downside. Only sell if the bearish flag breaks to the downside, if not. The structure has changed and the trade will be void. If there is a break to the downside, we are looking towards another obstacle, a key trendline. If the trendline does not hold and breaks to the downside, I will be looking to ad more sell trades. Trade safe traders.
Short
by pav4ito
BTC - Going Down?Bitcoin has been following an ascending channel since the beginning of 2017, and price action has been keen to respect the limits of this pattern every time it has reached the upper or the lower limit. Now that we reached the upper limit of the channel a couple days ago, which price heavily tested, a correction is likely to take place towards the supply demand zone below, which is congruent with the area near the lower limit of the channel. However, despite the fact that the 200B Market Cap psychological level was reached some days ago, it has started to decrease fluctuating from that point, meaning that a deeper correction is very likely. In a less possible scenario, Bitcoin might continue upward movement if Market Cap continues to expand, but considering the strong resistance that represents the channel's upper limit this would take a lot of volume and buying power. Let's see how it develops!
BITSTAMP:BTCUSDShort
by CoinMajesty
6
Monero: Clear Double Zig-Zag Corrrection Looks CompletedMonero declined from 155 to 62 and lost exactly 60%! This is interesting sign, but to be more confident, 62 is really nice psychological support because wave (I) resistance became wave (IV) support. There is one more and the most important sign! We see a clear double zig-zag correction, which means that correction could be completed and we could expect Monero back to bullish trend. Keep in mind that bulls will be confirmed, when we see a broken channel resistance line. ew-forecast.com <- Visit for more Cryptocurrencies FREE Analysis!!
BITFINEX:XMRUSDLong
by ew-forecast
11
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.
by AngryBoris
MCO in a corrective waveMCO has finished an EW cycle, and is is the process for an corrective wave (-23% at this publication time on Bittrex). MCO is going to publish its new app on August 31st, but rumours emerge as the 500 cards are sent without the Visa logo. I don't know if this ia verified or fake, but the market seems to "sell the rumor". The Mona.co website do not reflet Visa on its web site mona.co The BO reflects the B wave with a resistance at 40. Nevertheless an huge buy wall is present at 50, which coincides with the previously seen resistance. As of now, the dip can be tried, but it's wiser to have SL or entry orders prepared below/over the SR. This idea is based on my technical analysis, in case of a major news, it can be invalidated any way This is not a trading advice but my point of view
MShort
by Stevus_
3
BTCUSD - Elliott Wave Analysis - BTC Alt.CountsUgh, what a mess... While my preference is that BTC is still in macro-degree Wave IV following the 2980 high I label Wave III, I must at this point give serious consideration to an Alternate Count,(labeled here in Red ) that against reasonable Time Duration, and against the Alternation Guideline, that BTC completed Wave IV at the 1840 low. The move up to 2938 was a larger degree Wave 1, and is supported by smaller degree wave counts. Since the move up to 2938, BTC has been correcting that advance, and may have completed a near 50% retracement at the 2400 level. Since then, the move up has completed multiple sub-wave counts, down to minutia scales, terminating at a "iii" as I write this post. My current preferred count, is that BTC remains in Wave IV, a Flat pattern, which is in lesser degree wave 1 of 5 of C of IV. At a macro level, Flats occur and take a wave count 3-3-5. (3 waves to reach A, 3 waves to reach B, and 5 waves to terminate at C, all of which can be broken down and are composed of sub-waves in a fractal manner.) The Wave IV preference is guided by the Alternation Guideline and the Time Duration appropriate to this degree of correction represented by Wave IV. Under the theory of a continuing Wave IV, my current preferred count in in Blue . The emerging pattern for Wave 1 of 5 of C of IV, is an declining or falling, expanding triangle, with 4 of 5 legs completed. Alternate to this remains the impulse or motive push downward to retest the former lows at 1840.
BITSTAMP:BTCUSD
by RogueDave
Sugar (SB1) should be close to completing wave 3 I'm looking for wave 3 to complete at 12.67, where wave v of 3 will be 61.8% the length of wave i thru wave iii subtracted from the top of wave iv. It should just be a matter of time before wave 3 completes and a corrective rally in wave 4 takes over. As the correction in wave 2 corrected a large part of wave 1, we should expect wave 4 to only correct a minor part of wave 3. A 38.2% correction of wave 3 will see wave 4 moving up to 16.03 before turning lower again in wave 5 towards 9.98. Regarding the corrective pattern of wave 4 it should turn into either a flat or a triangle to alternate from wave 2.
SLong
by EWS
1
EUR impulse wave complete - USD corrective in play...Hi All, Great to finally see EUR make some moves over the past couple of weeks and great to see Macron win as the world doesn't need more 'Trump like' people in office - (Thats just my opinion) Anyways, the count I had in my previous post is on track but the 5th wave extended further than anticipated but that just means extra pips were made. Now the impulsive moves has finished, I am looking for a corrective structure to close the gap before EUR keeps surging to the upside. From the top: Wave A: I have seen a ZZ structure down which could be (a) of A or A of a bigger ABC (time will tell) Wave B: This will be the next move and will indicate which of the possible corrections will play out from what I mentioned above but I am forecasting a Flat based on rule of alternation. Forecast Wave C: The key thing to look out for is that C wave extension should close the gap which is a full retracement of the current impulse at 61.8% as labelled - once this happens, I am looking for a long position. Now it is a waiting game to find a short entry as there is about 250pips on offer. Let's see what this week brings. :) GL
Short
by donaldsaw
Corrective wave in play but EUR BULL's should return...Hi All, We've seen some nice moves from EUR over the last few days giving support that EUR BULL's are definitely in play. However, looking at the updated count, a retracement is due after an impulse which plays out nicely with a gap due to close. Updated count: Count update (Big Picture): Wave 1: From the bottom, a leading diagonal impulse. Wave 2: Running Flat Wave (1) of 3: Latest impulse with the round 1 results of the French election as marked in blue Wave (2) of (1) of wave 3: A corrective ABC is due after an impulse so expect USD buyers to be in play. Forecast wave: If the Macron results in the round 1 elections was anything to go by, I expect the results of the 7th May French Elections (should Macron win) play a massive part in pushing this pair right up Exciting times ahead... Happy Trading!
Short
by donaldsaw
3