Gold - Expecting some more downside before a bounceGold has been moving sideways correcting the previous downtrend.
The X wave is still looking incomplete here , expecting one more leg down to around 1180 before a bounce up.
Elliottwavecorrection
BAUSCH Elliott Wave View: Pullbacks Should Remain Supported
Good afternoon Traders,
BHC short-term Elliott wave analysis suggests that the pullback to $20.28 low ended black wave ((2)) pullback.
Up from there, it is in a possible 5 waves Elliott Wave structure higher. The first leg higher in black wave ((i)) ended at 09/13 peak (24.13). The internal structure of that move unfolded as a 5 wave impulse.
It ended blue wave (i) at 09/11 peak (20.98), wave (ii) pullback at 09/11 low (20.67). Above from there, it ended the wave (iii) at 09/12 peak (24.12). Below from there it ended blue wave (iv) pullback at 09/12 low (23.22) and above from there it ended blue wave (v) of black wave ((i)) at 09/13 peak (24.12).
Below from there, it ended black wave ((ii)) pullback at 09/17 low (22.07). The internals of that pullback unfolded as an Elliott Wave double correction in blue wave (w)-(x)-(y). Up from there it ended black wave ((iii)) at 09/21 peak (25.26) and the pullback in black wave ((iv)) at 09/25 low (24.32) after reaching the 100-123.6% extension area from 09/21 peak. And any long trades from that area (blue box) should be risk free by now. As long as it does not break 09/21 peak (black wave (( iii )) ), a double correction lower in black wave ((iv)) can't be ruled out.
As long as the pivot at 20.09 stays intact we expect the stock to extend higher and we don’t like selling it because the right side is to the upside.
Netflix Elliott Wave View: Dips Expected To Remain SupportedGood Afternoon Traders,
NFLX short-term Elliott wave analysis suggests that the pullback to $335.67 low ended blue wave (2) pullback. The internals of that pullback unfolded as a Flat correction. Where red wave B bounce ended in 3 swings at $374.09 high.
Down from there, red wave C unfolded in 5 waves impulse structure. And the initial decline to $360.01 low ended black wave ((i)). Up from there, black wave ((ii)) ended at $364.50, black wave ((iii)) ended at 341.60. A bounce to $350.54 high ended black wave ((iv)). Then finally a move lower to $335.67 low ended black wave ((v)) and completed red wave C of (2).
Up from there, the stock is showing higher high sequence favoring more upside within blue wave (3). Where the initial rally to $374.09 high ended black wave ((i)). The internals of that rally higher unfolded as 5 waves structure with lesser degree cycles showing sub-division of 5 waves structure in its leg higher i.e blue wave (i), (iii) & (v).
Down from $374.09 high, the stock did a 3 wave pullback as zigzag correction & completed the black wave ((ii)) at $350 low. After reaching the blue box at $356.01-348.90 100%-161.8% Fibonacci extension area of blue wave (a)-(b).
Above from there, the stock has made a new high above $374.09 high suggesting that next leg higher can have started. Near-term, while dips remain above black wave ((ii)) low ($350) and more importantly above $335.67 low the stock is expected to resume the upside.
Alternatively, if it breaks below black wave ((ii)) low ($350) then it can be doing a Flat correction from $374.08 high still within black wave ((ii)) before resuming higher again provided the pivot at $335.67 low stays intact.
We don’t like selling it and prefer more upside against $335.67 low.
EURAUD Elliott Wave View: Trading At Equal Legs ExtremeHello Traders,
EURAUD short-term Elliott wave view suggests that the rally to 1.6353 high ended blue wave (1) higher. The internals of that degree unfolded as impulse structure with lesser degree cycles showing the sub-division of 5 waves structure. Below from 1.6353 high, the pair is doing an blue wave (2) pullback in 3, 7 or 11 swings before upside renew. We don’t like selling the pair as the right side tag favoring more upside.
Down from 1.6353, the pair is doing a 3 wave pullback with lesser degree cycles showing the sub-division of 5-3-5 structure thus favored it to be doing a zigzag correction. The initial decline to 1.6282 low ended black wave ((i)), black wave ((ii)) bounce ended at 1.6339. Black wave ((iii)) ended at 1.6152 & Black wave ((iv)) ended at 1.6192 high. Then finally a move lower to 1.6136 low ended black wave ((v)) & also the red wave A.
Up from there, the bounce to 1.6332 high ended red wave B bounce in lesser degree zigzag correction where black wave ((a)) ended at 1.6285. Black wave ((b)) ended at 1.6226 and Black wave ((c)) of B 1.6332 high.
Currently, it is trading at the equal legs extreme area (blue box) of red A-B and soon it should end blue wave (2) pullback. Afterwards, the pair is expected to find buyers looking for new highs or for 3 wave bounce at least. We dont like selling it and the right side is to the upside as long as pivot at 1.59692 stays intact.
BTCUSD Bull Run? Elliot Wave & Schiff Pitchfork 2014 & 2018Intro: Light at the end of the accumulation tunnel. Why a BULL Run is possible when comparing 2014 & 2018 Elliot Wave ABC Corrections and Schiff Pitchforks:
1) W correction is about a 70% price drop in both 2014 & 2018.
2) Both Y corrections extend to the 0.786 Fib Level.
3) A correction retraces to mean in the Pitchfork.
4) B correction extends to about the 1.5 Pitchfork line.
5) C correction retests the 0.5 Pitchfork line.
6) Current correction has touched the WARNING line (2.0 Pitchfork extension in a red dash line) and found support back in the 1.5 Pitchfork line.
Disclaimer: This is not advice but any trade entries at this point carry low risk and high reward if 2014 correction were to repeat itself.
Support: Comment & like if you agree or disagree. This is a learning community and feedback is always welcomed for my own learning curve.
Netflix Elliott Wave View: Further Upside Expected.Hello Traders,
NFLX short-term Elliott wave view suggests that the decline to $310.84 low ended red wave “IV” pullback. Up from there, red wave “V” can have started but a break above $423.21 6/21/2018 high remains to be seen for final confirmation. Above from $310.84 low, the rally higher $374.57 high ended blue wave (1). The internals of that rally unfolded in 5 waves structure.
Up from $310.84 low, the initial rally to $346.27 high red 1 in lesser degree 5 waves. The pullback to $337.65 low ended red wave 2. Then the rally higher towards $366.40 high ended red wave 3.
Down from there, the pullback to $359.69 low ended red wave 4. Finally, a rally higher to $374.57 high ended red wave 5 & also completed blue wave (1).
Below from there, it finished an Elliott wave Flat correction at 09/05 low (335.86) which also completed blue wave (2) pullback. Above from there it ideally should extend higher in blue wave (3). As long as the pivot at 310.84 stays intact it should extend higher. We don’t like selling it and prefer more upside against $310.84 low.
AUDUSD Elliott Wave View: Downside Pressure RemainsHello Traders,
AUDUSD ended the cycle from 08/21/18 peak (0.7383) at the low of 09/03/18 (0.7166) in black wave ((w)). The internals of that move unfolded as an Elliott Wave ZigZag structure, which it ended blue wave (a) at 08/23/18 low (0.7238), blue wave (b) pullback at 08/28/18 peak (0.7363). From there it ended blue wave (c) of black wave ((w)) at 09/03/18 low (0.71667). Up from there, it ended black wave ((x)) pullback at 09/06/18 peak (0.72106). The internals of the pullback unfolded as an Elliott Wave triangle structure.
As long as pullbacks stay below 0.72106 we expect AUDUSD to extend lower towards the equal legs extreme area of 0.6993-0.6942 from black wave ((w))-((x)) before a reaction higher can be seen. Due to the right side tag, the right side remains to the downside we don’t like buying it.
USD/CAD Elliot Wave Analysis Buy Set UP!Watch for the correction to end around the CTL, then look for the Buy set up to get Long!
BTCUSD: Elliot Wave 2014 vs 2018, The Case for the Bulls!!!Intro: By now you should be sick of the 2014 vs 2018 BTC comparisons BUT there are uncanny parallels between these two corrections regarding their ABC corrections and the Fibonacci Extensions. Here's what I'm seeing:
1) Three Lower Lows in 2014 and 2018 create our A correction (Zig-Zag Pattern).
2) The A correction DROPS about 70% in both 2014 and 2018.
3) Both C waves have a 0.786 Fibonacci extension.
4) A symmetrical triangle formation develops after the ABC correction to the downside.
5) An ABC correction forms to the upside.
6) The C Correction to the upside COULD reach the 1.618 in 2018 just like it did in 2014.
What Invalidates this analysis? A drop below the 2018 low ($5774.72 on Bitstamp).
Disclaimer: This is not advice. Entering a trade at this moment presents a massive reward and a low risk if the C wave extends to 1.618 Fib number and we hold the 2018 low. Even better, reaching the 1.618 fib extension means higher highs and a confirmation of a reversal.
Please comment and like: This is a learning community and your comments or questions make a difference.
BITSTAMP:BTCUSD
Take a look at my Gann Fan Analysis:
ETHEREUM CLASSIC - WILL IT FOLLOW BTC IF IT RISES? Hey Everyone,
The million dollar question right now is, will ETC and other ALTs follow BTC if it rises right now?
We are starting to slowly see slight differences in the patterns over the past few months with ALTs declining and BTC increasing with both dominance and price. So if all the money pours into BTC where does that leave the ALTs? Not in a good position in my opinion.
BUT in the past week we have seen 20 billion dollars flow into the market and BTC dominance remain steady and the popcorn symphony of the ALTCoins popping has made the market happy, it is a nice place to be when everything is green... it is like Spring in Melbourne when the frost subsides and the new buds begin to blossom...
So watch the patterns here, there is a few different possible pathways in the near and not too distant future.
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
EURJPY Elliott Wave View: Ended 5 Waves AdvanceHello Traders,
EURJPY short-term Elliott wave view suggests that the decline to 124.87 low ended blue wave (2) pullback of a leading diagonal structure from 5/29/2018 cycle. Above from there, the rally higher is taking place as Elliott wave zigzag structure within blue wave (3) of a diagonal. In a zigzag ABC structure, lesser degree cycles should show sub-division of 5-3-5 structure i.e Red wave A unfolds in 5 waves either impulse or a leading diagonal, red wave B unfolds in 3 swings corrective structure. Whereas red wave C unfolds in another 5 waves structure either impulse or Ending diagonal structure.
In EURJPY’s case, the rally higher from 124.87 low unfolded as 5 waves impulse structure in red wave A. Up from 124.87 the rally higher to 126.49 high ended black wave ((i)) in 5 waves structure. Down from there the pullback to 125.55 low ended black wave ((ii)) pullback. A rally higher from there to 130.275 high ended black wave ((iii)) with another lesser degree 5 waves structure. Below from there, a pullback to 129.55 low ended black wave ((iv)).
Finally, a rally to 130.86 high ended black wave ((v)) & also completed red wave A. Currently red wave B pullback remains in progress in the sequences of 3, 7 or 11 swings to correct the cycle from 124.87 low before the rally resumes, provided the pivot in our distribution system at 124.87 low stays intact. We don’t like selling it.
USD/JPY Elliot Wave Buy Set UpThe correction appear to be over. Look for buying opportunities targeting the 112.000 area.
USD/CHF Elliot Wave Buy Set Up Swing TradeWatch for the correction to come to an end on the smaller time frames. Look for an impulsive wave to the upside follwed by an correction to get long on the Buy Set up.
EUR/GBP Elliot Wave Analysis Sell Set Up!Look for a impulse wave to the downside to break out of the corrective channel then a small correction for a sell set up!
XLK Elliott Wave Analysis Suggesting More UpsideHello Traders,
In this Elliott Wave analysis, we will have a look at the Technology ETF.
The ETF ended the cycle from 06/28/18 low in red wave 1 at the peak of 07/25/18 (74.26). The internals of red wave 1 unfolded as a 5 wave Elliott Wave impulsive structure. Where black wave ((i)) ended at 06/29/18 peak (70.08), black wave ((ii)) pullback at 07/02/18 (68.73). Followed by an extended black wave ((iii)), where the internals also unfolded in a 5 waves structure. Black wave ((iii)) ended at 07/13/2018 peak (72.72) and black wave ((iv)) pullback at 07/16/2018 (71.68) followed by black wave ((v)) of red wave 1 which ended at 07/25/18 peak (74.24).
Below from that peak, the correction in red wave 2 ended at 07/30/18 low (70.30). The internals of red wave 2 unfolded as Elliott Wave Flat structure where it ended black wave ((a)) at 07/26/18 low (72.68), black wave ((b)) pullback at 07/26/18 peak (73.35) and black wave ((c)) of red wave 2 at 07/30/18 low (70.30). Up from there, it ended the cycle from 07/30/18 low at the peak of 08/09/18 (73.91) in black wave ((i)). Below from there, it is currently in the progress of correcting the cycle from 07/30/18 low in 3-7 or 11 swings before moving higher again.
Near-term focus will be on the 100%-123.60% equal legs extreme area of 72.45-72.15 from 08/09/18 peak where we expect a reaction higher for new highs or at least a 3 wave’s bounce. We don’t like selling it and prefer more upside as long as the pivot at 68.28 low in our distribution system stays intact.
EUR/AUD Elliot Wave Sell Set Up Corrective StructureLook for the corrective structure to end soon and price to break out impulsively to the downside targets
USD/JPY Elliot Wave Analysis Watch for price to breakout of the corrective channel for a buy set up to finish the Flat correction then the sell set up after the structure is complete
