AUD/USD (Descending Triangle)Descending Triangle Formation in OANDA:AUDUSD
Go short after the triangle breakout to the downside!
DXY seems to be strengthened against AXY!
Best of Luck!
Your feedback would be appreciated!
Descending Triangle
CHZ Descending Wedge formed!🚀🚀The chart has formed a descending wedge, and following a breakout. You can take a trade like my position targets✌️
Bitcoin Dominance BTC.D - Downtrend continues! | Elliott Wave
Bitcoin is still a very weak asset, compared to altcoins or the stock market index.
As per my technical analysis, bitcoin's dominance should go down to the previous swing low established in 2018. You can bet there will be a bounce, but the question is, how big is the bounce going to be?
As you can see on the chart, the ABCDE pattern has been completed, which usually indicates a final upcoming wave. It's something like triangles in fourth waves.
It's hard to do an Elliott Wave count here, because this is not a standard chart. This chart can oscillate only between 100% and 0%. We don't know if the first drop from 100% to 35.41% is an A wave of the correction or a 1. wave of the impulse, because there is no major trend. It's an oscillator.
There is a very high probability of going down to the previous swing low because charts like BNBBTC, LTCBTC, XMRBTC, TRXBTC and others look bullish.
It's probably a good idea to switch to Bitcoin when the price reaches my target.
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GBPUSD: Still bearish, possible SHORT OANDA:GBPUSD
GBPUSD is still within descending channel and broke last Friday a descending triangle...Will take short positions on lower time frame.
Share your opinion in the comments and support the idea with like.
BTC 15 min time frame looks good for short BTC 15 min time frame looks good for short as the trend is bearish so looks so good and also look for reversal if it breaks for upside might give up move also but however the overall all markets are down so impact will on BTC also so look this watch this in 5 min time frame for target and stop ;loss
Ripple XRP - Market overview + Elliott Wave analysis
XRP is a very weak coin this year, and this trend will probably continue for another year. I'll tell you why.
During the bull market in 2020–2021, XRP failed to print an impulsive wave and also failed to make a new all-time high. Instead of an impulsive structure, we have an ABC correction.
This tells us that the bulls are not strong enough yet to push the price higher and that the bears remain in full control.
I think XRP will experience a massive uptrend on the weekly chart, but we still need to be patient and wait for the opportunity that should come later in 2023–2024.
As per my Elliott Wave analysis, this bearish structure is absolutely incomplete, and that's why I expect another down-trend.
The chart printed a symmetrical triangle on the weekly chart that broke down. Symmetrical triangles on weekly timeframes are especially powerful, and it usually requires more time for the bulls to regain strength again.
I expect tremendous gains for selected altcoins. You can find them in the related section down below.
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Trade Technical- A classic triangle break, investor prayers to be answered for a reversal. A good buy.
V IS ABOUT TO TEST 190 AGAINTicker Symbol: $V
️Timeframe: DAY
️BREAK OF RISING WEDGE AND INSIDE DESCENDING CHANNEL
️Investment Strategy: SHORT
TECHNICAL ANALYSIS:
MONEY MOVEMENT SHIFTING DOWN AND RED DOT: BEARISH
RISING WEDGE BROKEN, MIGHT SEE 190 AGAIN. (BEARISH)
DESCENDING TRIANGLE CHANNEL: BEARISH
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Bitcoin - Last valid bullish EW count was invalidated, what now?
I studied this market structure for several hours, and my conclusion is that there is no valid Elliott Wave bullish count. Simply, a valid Elliott Wave count does not exist. Is this a problem?
From the Elliott Wave perspective, there are 2 possible options:
1) If we want to stay bullish, we have to accept the fact that a third impulsive wave can sometimes be a diagonal, not only an impulse. which I think could be true.
2) This was a huge WXYXZ corrective structure and we must go below 17622 USDT to confirm this count, make a new low, kindly by a wick, and then we can start a brand new uptrend or continue lower to 13-15k.
Which one of these options do you see? Let me know in the comment section what you think about it!
This technical analysis shows an impulsive wave with a non-standard diagonal third wave.
We still have a total of 9 waves, which indicates a bullish movement as per the simple rule that 5, 9, 13, 17,... waves are generally impulsive structures.
Market structures are not perfect. Sometimes you can see a weird triangle or a weird wedge, as well as a weird impulsive wave.
I don't trade Bitcoin, because my strategy and system is a strict pattern that occurs only sometimes in the market. That's why I watch 1000+ altcoins and pick only the most promising ones as per my strategy. But I do have Bitcoin for the longterm hodl.
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Descending Triangleso we wait patiently the market just break the descending triangle and is currently retesting so what we should watch for is.........
1) the market might come to grab liquidity at the bottom of the triangle :so if that happens we can then enter
2) if we notice an instant reversal from the retest then we would wait for the recent high to get broken
so only after this two conditions are met then we can go for a buy. till then we just seat and watch price do its thing
Bears will rise upOn the daily you can see we are in a descending triangle and as you can see we have levels down at the 20K level we still need to go back to if we close the daily in 45mins with a red candle I'm taking a sell
Alibaba Breakout upsideAlibaba is in a descending triangle pattern. We expect that after the breakout the price will increase.
Entry level, Stop loss and Target price in the chart.
Bear Market - EvidenceThis descending triangle in the most "bullish" of sectors - energy - seems to prove that we are in a bear market. The descending triangle seems to trade with a bearish elliot wave pattern for descending triangles as evidenced here:
thepatternsite.com
Share your thoughts in the comments below.
JasmyCoin: Descending Triangle But The Price Action Is BullishJasmy has bottomed 3 times within this inheritly Bearish Pattern while Bullishly Diverging each time with the 3rd bottom putting in a slghtly higher low and it is now broken above the supply line here and may look to Square-Up to the upside so long as it holds above the nearby Moving Averages on the Daily.
BTC.D - The Alt Season just started! + Elliott Wave
The 14-month consolidation period has ended; it was truly an endless period of price action, but nothing lasts forever!
ABCDE rectangle/triangle has been successfully finished and now we can finally continue in the direction of the main trend.
According to my Elliott Wave analysis, we are now in the 3rd wave and this could be huge!
Bitcoin Lightning network is still not supported by major exchanges because it is not in their business plan, and this is definitely a positive sign for altcoins.
What to do during the alt season? It's good to pick promising altcoins, which is not an easy task, but even very bad coins can easily pump.
Look at my ideas about interesting altcoins in the related section down below.
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OG Fan Token! 2020 trendline is breaking out! Head and Shoulders
OG looks very promising on the daily/weekly chart!
As you can see, the main trendline (falling wedge) has been destroyed by the bulls, and currently the price is forming an inverse head and shoulders pattern.
We can also spot a descending triangle from 2020–2022. The price went below the triangle, but immediately pumped back up, which is a pretty solid sign of strength.
The ABC correction has been completed and I think we can retest the previous all-time high or at least a previous swing high.
If we take a look at the volume indicator, we can see a massive bullish spike, which is another great sign of strength.
Look at my ideas about interesting altcoins in the related section down below.
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godrejcpGodrejcp on verge of breaking out of descending triangle pattern with good volumes.
Could be bought with mentioned stoploss & targets.
Looking for higher highs?, $GDYN has themGrid Dynamics accelerate digital transformation of Fortune-1000 US enterprises. They specialize in customer experience, data analytics, and cloud. They compite with the likes of NYSE:EPAM , NASDAQ:CYBR and NSE:INFY .
The price made its lowest low in mid March and since then has made a good bull run. Now $GDYN is making a good looking descending triangle, the only bad things is that it price is below the 50-day.
Still, as we are currently in a bear market, this is the kind of charts that I'm looking for. RELATIVE STRENGTH is the name of the game now. Combine this with the good fundamentals it has and it should be a next leader.
I'll wait and see.
copper short or longcopper is forming a descending triangle and ready for break out.
waiting for break out either down or up.
Truks are looking good, $ULHWhat a good looking chart!
After a massive bull run, the price has formed a descending triangle. Normally, if an upward breakout does occur, another good bull run should follow. I'll be waiting for it to buy.
This one really looks like a true leader to me. Impressive relative strength, that is best indicator in a bear market.
Request REQ - Massive wedge is breaking out! + New bull market
We have a huge falling wedge on the daily chart, and the price is currently breaking out!
As per my Elliott Wave analysis, an ABC correction (ZiagZag 5-3-5) has been completed on the macro scale.
We had a massive uptrend in 2020–2021 and also made a double top (2018, 2021), so this coin is definitely stronger than others.
The first profit target is at a strong resistance (Wave B) + 0.618 FIB, but I think we can reach a new all-time high, maybe next year.
As you can see on the chart, the main trendline has been destroyed by the bulls and the price is printing an inverse head and shoulders pattern!
I expect tremendous pumps for selected altcoins. You can find them in the related section down below.
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EURUSD - The downtrend is over! New bull market + Elliott Wave
EURUSD successfully maintained the 1.0 USD level.This is a significant psychological level!
As per my Elliott Wave analysis, this huge downtrend should be over, and now I expect a corrective move to the upside.
An impulse Elliott Wave has been successfully completed. Let's see how big this correction is going to be.
On the daily chart, we can spot a beautiful descending parallel channel, and I think the bulls can step in to destroy this pattern!
As you can see on the chart, we had 2 fakeouts during this downtrend and this indicated a corrective move. Usually, the third breakout is real!
The profit target is at 0.618 FIB + the start of wave 4.
Look at my ideas about Gold, Bitcoin and Ethereum in the related section down below.
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Is $WTI having trouble keeping up? Recession fears are hitting oil prices pretty hard. This is how far I think it may go.
Currently $WTI is making a descending triangle. This pattern is generally bearish because bulls have to hold a level of support while struggling to make higher highs. It's also currently struggling to hold above its 200 day line.
If $WTI breaks lower, below $92.91, it will also effect the Energy sector. Keep an eye on this and the levels I have drawn out.
Of course, it won't go to the measured objective over night as there are levels of support along the way that it'll have to break through.
For now, I'm neutral as this pattern has until mid August to play out to the up side or to the down side.
DYDD
