Elliottwavecorrection
Was this an ending diagonal in BTC?My gut told me that we wouldn't see a deep 5th wave, like most thought.
However, I never thought that it would be this shallow!
Have we witnessed an ending diagonal yesterday?
I just did a deep dive and this is the best I could come up with.
USDCAD Analysis and Wave elliotWave 4 has suffered in the form of a triangle and Wave 4 has completed the microwave. The trend continues in the 4-hour timeframe. The correction continues downwards. It is now in the range of Wave 5, and it started. The usdcad update is loading
BTCUSD - Outlook Mid Day Update 2021.06.06Guys, once again Bitcoin has given everybody the slip. The upwards momentum last evening at the open was not sustained and price proceeded to make a double flat pattern which I have labeled yet again (w)(x)(y). Current price action appears to be making another form of 3 wave pattern to the down side and possibly creating one of the two possible harmonic patterns on the 30 Minute Chart. Either a Bat Pattern ending at 35371.65 or continuing down to 34263.75 to make a Bullish Crab. This is letting us know that the much larger corrective structure is not yet finished.
Taking a Sideline Market Position right now may not be a bad idea.
Good luck and Safe Trading!
XRP impulse wave coming!!XRP is ready for a nice trendy wave, however if we do break to the downside lowest we could go is to the 78.60 fibs level. imo xrp is still cheap.
GO SHORTSell AUDUSD, in terms of patterns, we can see a Head and Shoulder pattern. Elliott wave shows us a movement of wave C is starting up. Do have a pipful week
GBPUSD 4H correctionWaiting for the break of the ending diagonal of wave C of wave B for a short trade entry. C wave target will be near the end of wave A as an application of a regular flat correction. have a good trade UwU.
EURUSD 4H Correctionwaiting of the break of B movement's trend line for a short trade entry. C wave target will be near the end of wave A as an application of a regular flat correction. have a good trade UwU.
XAUUSD ShortI'm sharing this Idea for going short on XAUUSD with you, Tell me your opinion about this trade in the comments section.
USDCAD LongWhat's your opinion about this trade? share your ideas in the comments and lets discuss them..
Bitcoin - RSI DIVERGENCEThere is an RSI divergence on DAILY chart since a moment. This gives a high chance that the bulls need a rest.
The 12345 wave formation also seems to be ended.
An ABC correction wave has started to form, we expecting wave C to fall lower than the A wave.
Trade safe.
IRIS finishing primary correction soon, turning back to impulse?Hi. In this 1D chart I've done a retracement of intermediate Elliott waves and charted the primary waves. I've concluded that a primary correction wave is about to finish.
Symbol NASDAQ:SCWX has a similar sector, product and an almost equal Enterprise Value.
It's current price is 13.22 $ or 110 SEK.
I value $IRIS at around the same price.
Thank you. Please if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods.
This does not constitute financial advice.
Any prices, even if explicitly stated, are presented with intent to discuss the symbol and potential interpretations.
Any trades shown or mentioned are examples and neither recommendations or mandates.
AfterPay - Price action needs to hold this level of support !!The APT price action is desperately looking for support and a pretty obvious elliott wave ABC correction is in play. Chart is suggesting APT needs to hold this level or we could see further falls down to the $70 level or even lower. Also H&S pattern is in play. Just an observation take with a grain of salt.
TESLA Intraday Price Prediction...)Hello!
Glad to present some detailed chart on TSLA.
Regards, Team Traders "PowerfulTraders"
Magic TA: The future is predicted magically!Earlier was the first to published an idea about BTC is not gonna break ATH 61800 at this point of time, instead will need a price correction before 72k! According to the observation of recent days, it is confirmed to be riding on the price correction wave. It would be a huge retracement according to the principle of elliott wave. However, after a while I've seen many analyser posted the similar chart.
My philosophy is always "sell when people buy, buy when the others sell".
Thanks to those who blindly buy (long) BTC at the peak of the hill, and so I'm getting extreme high funding fee from the trading platform on every 8 hours. ;) This may be the good timing for the newbie (especially those "smart traders" trying to "educate" me in a bad way) to understand, what's the real meaning "Do not chase ups and downs. Anyway, regardless long or short, debate / discussion with open-minded is always welcomed. Sincerely hope ALL OF US could make a fortune from crypto trading!
Again, this is not a financial advises. I'm not a professional analyser, and I've started the trading for 2 months ONLY. :) It's my hobby to analyse the pattern so it would help in my development of automated pattern trading software.
Gold - Elliot Wave corrective phase completed (ABC)lets keep our eyes on Gold and Silver next week as a nice reverse hammer candle also formed, which could be a clear signal of an elliot wave completion. will position into some stocks early next week.
Price correction: first target - 56200Earlier I've shared an Elliott wave analysis chart and mentioned we may on the point (B) position. meanwhile, I've revised the chart, and realised there are 2 possibilities.
Note: Please google on the complete elliott waves chart and compare to my draw.
1. Yesterday 2nd April 2021 highest point as a reference, we may on point (1) of the impulse wave.
2. Yesterday 2nd April 2021 highest point as a reference, we may on point (C) of the correction wave.
So, I've decided to draw another version. (above)
Sketch of 2nd April. (C) edition of correction wave.
Combining with others TA tools, to find out the highest point and next lower support line.
It's a cup and handle, with a highest point of 68517.
Meanwhile, applying ascending triangle to the chart,
we may see a lowest point of 55492, in the case of we get a breakout confirmation at 58930+
Last, be aware of the limitation of this ascending triangle.
The main problem with triangles, and chart patterns in general, is the potential for false breakouts. The price may move out of the pattern only to move back into it, or the price may even proceed to break out the other side. A pattern may need to be redrawn several times as the price edges past the trendlines but fails to generate any momentum in the breakout direction.
While ascending triangles provide a profit target, that target is just an estimate. The price may far exceed that target, or fail to reach it.
BTCUSDT going back to 43000 before new high?? ATH of BTC 61800 is not gonna break yet?
Yes, we're still in massive bullish price zone even retrace back to 43000! By applying elliott wave principle to the BTC market, we're currently on point B of the price correction zone.
Anyone may share your thought and tell me if i'm wrong? The chart drew according to the guideline of "Elliott wave principle key to market behavior"
BITCOIN BULLISH ELLIOT WAVE ANALYSIS || 73k !!In my view, it is time to new ATH. April seems to be a small altseason.
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