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Elliottwavecorrection

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.
Short
by spencerlim88
7
SPX Elliott wave count daily. 101 probable count1/ This new idea is based on the previous idea below, rsi possible extended 1st wave like our spx. Nothing guaranteed here just an amazing similarities (chart # 1). 2/ The previous idea is coming handy for "Gaps behavior " and how they usually appear in waves 3 & C. Well it kind of supporting this idea of an extended 1st wave. Here it is below (chart # 2). 3/ Combining these together kind of make the argument for and extended 1st wave is more probable, or not. 4/ So what's next, well Elliott Fibonacci Retracement and Extension Guidelines for an extended wave 1 as follow: If wave 1 is extended, then the size of wave 3 through to the end of wave 5 is often 61.8% – 78.6% relative to the size of wave 1 If wave 1 is extended, then wave 2 and 4 are very likely to be shallow (i.e. 23.6% – 38.2%) If wave 1 is extended, then wave 2 will often end at the level of sub-wave 4 of 1 (i.e. the internal wave 4 of wave 1) 4/ That's would put the probable target for this bull's move since March's low between .61-79 fibs with minimum requirement @ 4122:
SP:SPX
by samitrading
ZIGZAG CORRECTION IN GOLDAs recently GOLD (XAUUSD) was rising, we have recognized the completion of the five waves up followed by lower degree five waves down. REMEBER: Five wave move against the major trend indicates the beginning of correction, specifically ZIGZAG CORRECTION. Therefore, we expect ABC zigzag correction that later will be followed by continuation of the trend to the upside. The same movement is expected to take place in SILVER (XAGUSD), therefore you can capitalize your self through this positive correlation. WHAT ARE YOUR OBSERVATIONS ON THIS, PUT THEM IN COMMNET SECTION.
OANDA:XAUUSDShort
by ASAMForex
5
SPX's 70s ABCDE & 20s ABCDE waves, a " Game of comparison" .This Game is adjusted to 1/4 of Cycle time. Meaning that 20s ABCDE waves took 1/4 of the time of the 70s ABCDE waves. This "Game of comparison" could be irrelevant to SPX, like nothing at all to compare, but it's what it is therefore do not take it seriously just something to watch every once a and while. The real question will our "BIG MAMA" allow this to happen, of course "No" Mama will not accept that. "UNLESS" we get a big catalyst of some sort ;-) that big Mama can not handle for few weeks ;-) . Here is an idea how big is Mama right now !!! with out the stimulus , imagine how big will it be starting this weekend when the money inflow start with checks coming this weekend or sooner .
SP:SPX
by samitrading
BTCUSD 15 m / short term /Very hard correction. wave abc / blue / is zig zag wave c / blue - diagonal wave abc blue - create wave (a) /yellow/ wave abc white is zig zag and create wave (w) white. wave (x) is connector wave 12345 white is expanded diagonal for create wave (1) green wave (1) - (5) green is leading diagonal for create wave a orange Wave b orange is zig zag wave 2 white is zig zag wave 4 triangle or flat ( in this time ) One more Up for finish all waves ... wave 5 white, for finish wave c orange, for finish wave (y) white and finish wave (b) yellow. This is the full EW count
BITSTAMP:BTCUSDShort
by okiots
3
PLTR: Ending diagonal?Don't follow this one much, but I've heard some good things about the company. I'll have to look into them more. The chart looks good. We have a pretty ugly ending diag. If examined closely it fits the internal wave structure of the aforementioned pattern. We also have some pretty good looking divergence on the 1hr. Some good looking humps ;) What do you all think of PLTR? I've been trying to keep these updated as much as I can while balancing family and work. I hope we all come out on top next week. I've been bleeding out long enough :) lol Linked another potential diag in EVGN. This one is a larger degree and it's a motive diag, not a corrective one. Thanks for checking it out!
NYSE:PLTRLong
by adambiers
2