Scenario: C point jump @ Gold SpotThis is an ABC correction and C point jump @ Gold Spot. Target price is 1818 USD.
Elliottwavecorrection
SPX500USD (SPX Futures) made top of Bear Market Rally TodayThe slight new high in the TVC:SPX and OANDA:SPX500USD necessitates a slight recounting of the Elliot waves to account for the clear 5 wave drop from June 8th high to June 15th low while also accounting for the slight new high today.
Bottom line no matter how you slice and dice it the crash from Feb highs to March lows was a clearly impulsive 5 wave drop and no matter how you try to twist your eyes and slice and dice it the rally from the March lows can in no way be counted as impulsive nor force a 5-wave count into it.
Take away all counts and labels and indicators and look from a distance at the pure price bars since the March lows and it clearly has a corrective look to it especially as compared to what happened from the Feb highs to the March lows.
The B wave of this March lows has formed a "running flat" with the June 8th to the June 15th 5 wave drop having been the 5-wave c of this running flat B.
Since June 15th we have been in the final ending diagonal wave C of this B wave Bear Market Rally and with the slight overshoot today and rapid rejection in a convincing impulsive drop late today - meaning the Bear Market Rally - per this count - is over.
Wave C to March lows thus began today not on June 8th.
June 8th was indeed the end of the Bear Market rally in the Dow and the Russel 2000 and those indices have a slightly different wave count with wave 2 of C to March lows having ended today.
The few big cap tech names in the S&P have been distorting the S&P.
CBOE "Total Put-to-Call Ratio" made a lower low on June 8th as compared to the Feb highs which meant bullishness was even more extreme even though June 8th was a lower high than Feb.
And now with the slightly higher high today, the CBOE "Total Put-to-Call Ratio" didn't make it to a new lower low today even with the higher high which makes the rally today highly suspect and likely a top.
Take a look at the VIX today as S&P was making higher highs...the VIX kept rising which was a red flag that a violent reversal was coming as the rally since Friday has not been confirmed by the options market.
The VXN made a far more dramatic bearish divergence with the NASDAQ100 as the latter was making higher highs today the VXN blasted higher aggressively.
Even though the drop has been delayed in coming it seems to finally be at hand.
The bottom line: trend over next few weeks and maybe months will be to the downside.
To be bullish now and to position yourself bullishly by "buying dips" is playing with fire.
Proceed with caution.
Tomorrow earnings season begins in earnest.
Let's see if the VIX and VXN saw this coming and led their respective indices (S&P and Nasdaq).
Cheers !
Cyrus
Looking for a sell set up Price is really struggling to push higher and forming an ascending channel, with the corrective movement i really am expecting some downside momentum to kick in
EURGBP SHORT Trade Analysis by Wave FX AcademyHi Traders, here is my analysis for this pair, Comment your thoughts or like if you agree. All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add pair to your watchlist and see if the rules of your strategy provides an entry.
EURNZD SHORT Analysis by Wave FX AcademyHi Traders, here is my analysis for this pair, Comment your thoughts or like if you agree. All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add pair to your watchlist and see if the rules of your strategy provides an entry.
USDCAD BULLISH RALLYThe USDCAD chart below is analyzed using both elliott wave and Demand and supply zone(the two most powerful technical analysis tools).The wave 2 of wave 3 extension is a potential zigzag in formation which on completion will end in the Demand zone(potential zone where buyers will come into the market massively) hence, a bullish rally is expected to end at the 1.618(no extension) or 2.618 (extension) fibonacci level as those are levels where wave 3 tends to end.The risk to reward ratio is compelling.......more pips guys....Kingofthemarket says hi
Zilliqa breaks up, may continue rallyZil/usd broken the flat corrective channel. I expect another bull continuation. The correction phase also landed beautifully on .618 fibonacci retracement level with W-X-Y structure.
EURJPY is creating the last impulse 🦐EURJPY is creating the last impulse According to Plancton strategy, we can set a nice order
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Follow the Shrimp 🦐
BTCUSD- D-Wave Fall Below 8900 in X-Wave Triangle Can TroubleDisclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Proposed X-Wave Triangle. Fall Below 8900 - Can Trouble The Bitcoin. Can we get the desired fall to 5000 odd levels below "8900" strictly - Let us wait & watch as time unfolds.
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Thanks for reading the idea
Titán Elliot Views on USDMXN Posible Corto en corrección correción.
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Short term for AUD/USDReversal time of C for A (ABC). As my idea, you can take tp at yellow line. Thanks for your interest.
Possible Elliot correction WXY WaveHello world,
theory:
bearish "Y" - move.
We have:
- bullish long term trend and current correction
- possible 3-3-3 zig zag pattern
Happy for any feedback.
All the best,
c4ss10p314
EURJPY is creating the second leg 🦐EURJPY is creating the second leg of Elliott waves.
According to Plancton strategy, we can set a nice order
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Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
EURCHF Starts third wave 🦐EURCHF Starts third wave, we are waiting for the Plancton's signals to set a nice long.
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Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
SSIA idx stock :Example of Complex Correction Wave Here is the example of complex wave calculation based on elliott wave principle.
Overall complex correction wave consists of 5 combined wave (w)-(x)-(y)-(x)-(z).
These complex correction played out for very long period time thus can be very confusing. (w) wave is a zigzag of a-b-c, followed by triangle a-b-c-d-e (x), another zigzag a-b-c (y), followed by flat a-b-c (x) and last, completed with zigzag a-b-c (z).
This educational analysis provided also with example entry strategy, my entry strategy placed on top of last wave 4, why? Well, it gives slight confirmation that the (z) wave of zigzag is completed. The stop loss placed on the very bottom of (z), which means the invalidation zone. Apparently, this strategy only compatible for a long term investing.
This educational analysis is not a financial advice, you should do your own research and always make sure to criticize before consummation.
And last, because the asset is stock, always compare with the fundamental condition of the company.
Thank you, share and like if you found it helpful!
BTCUSD Short - Multiple pattern and candlestick analysisPatterns
1. Harmonic Pattern shows a Bearish Crab (Bear)
2. Leaving the ascending channel at the bottom (Bear)
3. Forming a symmetrical triangle pointing upwards slightly (Bear)
4. Elliot (correction) wave ABCDE is at play which could become double or triple top or a head an shoulders (Bear)
5. Declining volume shows there's no big price changes coming (So for now remains bearish)
Candlesticks
1M: Evening Doji Star (Bear)
1W: Bearish Harami (Bear)
1D: Bearish Engulfing (Bear)
4H: Bearish Engulfing as well (Bear)
1H: 3 Bearish Soldiers (Bear)
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Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!
EURGBP Long Oportunity on 4H TimeFrameBased on Elliott Wave model, I expect the price to move upward.
Price have done correcting with wave ii zig-zag correction of A-B-C, wave iii now in play, expect price to break the top of wave i.
Since it broke the top of previous wave 4, the setup is complete, long position can be opened with stop loss at bottom of wave ii.
I personally prefer to wait until stochastic bounce up or in oversold position probably in next 1-2 days.
Hope this analysis helps. If you find it useful, please leave a like and share this analysis.
Gold is going down to...Actually we start completing Wave 4. With reaching the 100er extension at 1766$ from (c) of b we completing the overshooting Wave B of 4. Now Gold is starting Wave C of 4 with a minimum Target of 1611$. After completing Wave 4 Gold will go to a new high for this year. The maximum Target is exactly the high in 2011 but it should not go one Pip higher.
GBPUSD POTENTIAL BUY SETUPPrice has been trending down and has reached a key support level on the daily.
If price respects this level, I will wait for an inner trendline break to open a long entry.
Overall, if this has happened, price is pulling back for a retracement to eventually continue down.
The Take Profit 3 area is 61.8% of the entire move down and is a key level.
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If price does not respect this level, I would wait for it to break through, retest and enter for the sell.
If we are signaled for a sell, I expect price to travel to the long term support zone ~1.14XXX
GBPAUD BUY SETUPI'm looking at this pair for a potential buy.
Price is currently at the 61.8 fib level on the daily.
If it respects this level and I see a trend line break, I will be looking for buys on the correction.
