Get started

Elliottwavecorrection

GBPJPY; POUND FACING MORE PRESSUREThe United Kingdom's employment data for the three months leading up to April revealed a higher Unemployment Rate of 3.8% than anticipated (3.6%). The results depressed the pound prior to Thursday's Bank of England (BoE) meeting. This follows the monthly GDP figure released on Monday, which revealed an unexpected drop in April and aroused concerns about the health of the British economy. The British pound was negatively affected by the possibility of a more dovish Bank of England and a Scottish referendum. In light of the most recent macroeconomic data from the United Kingdom, the Bank of England may adopt a more cautious approach to raising interest rates.
Short
by TradeyMarkets
Nifty following Elliott wave pattern#Nifty is folding exactly what we discussed in our previous analysis attached below. Our organisation Traders Mantra predicted that Nifty should breach the last low of 15671 on the daily timeframe. The idea behind the analysis was that the move to the upside from 15671 to 18114 Nifty was purely corrective. It was not an impulse. Now, what's ahead? The move from the top 18114 is folding into wxy as shown in the chart. The relation of w and y can be as follow If w = y, the Nifty will make its bottom near 14600 If w = y*0.786, the Nifty will make bottom near 15000 If w = y*0.618, the Nifty will make bottom near 15400 Also, the three of the prediction comes under the previous fourth of the last Impulse. The next target is a minimum of the all-time high of nifty and will be analysed as the price will make its chart.
NSE:NIFTYLong
by tradersmantra
How to trade the Elliott wave triangle correction?Triangles seem very easy to trade but act differently when it comes to trading. #Elliottwaves have a very important, genuine, consolidated and beautiful pattern that is #triangle correction. The structure of the triangle is 3,3,3,3,3. It means the triangle has 5 waves in it and each wave is sub-divided into 3 waves which we call (a,b,c,d,e). After 5 waves the triangle should have to burst out in the direction of the main trend. In a special case, when a limiting triangle occurs, it made 9 waves all of 3 sub-waves. i.e. 3,3,3,3,3,3,3,3,3. An Elliottician thinks that it is easy to judge when the triangle finishes its 5 waves and we can play a move along with the trend. But ain't that easy. Most of the time, two types of problems a trader faces while dealing with the triangle. A triangle in the Elliott wave which has 3 sub-waves in all 5 waves usually has a zigzag correction in it, but inside that Zigzag, wave B can be expanded flat. It always creates an illusion that the triangle is over whenever an expanded flat is formed, and an expanded flat is made in wave c of the triangle. A good trader is one who doesn't lose patience and sees the triangle bursting before its actual ending. With this false wave count, sometimes a trader's stop-loss doesn't get hit, but it takes too much time to actually complete the triangle. So, for an option buyer, this false illusion can be a death to the trade as all the premium will decay if he enters too early in the triangle. As shown in my attached previous analysis of #HDFC , there is no genuine way to know from where the actual triangle starts in the Elliott wave. When the correction starts, the first leg can be a wave A of Zigzag, and the triangle can occur in wave B of Zigzag. The other alternative is the whole move is the triangle which starts from wave A and will end at wave B Now, the first leg i.e. wave A of Zigzag is also a 3 wave move. So, it is difficult to make sure if the whole move is a triangle or if the triangle is in wave B of Zigzag. So, the best way to trade a triangle is to be patient first of all, and trade only when the price breaks out from wave D. It will save a lot of your time and money. The technical analysis is all about the Price and Time as well. Happy Trading!
HEducation
by tradersmantra
NZDJPY: Improved risk outlook puts bulls in chargeNZD has gained in recent months from the market's improved risk outlook on global vaccine confidence. The NZD's recovery is being aided by China's stronger-than-expected trade figures. According to recent figures, May's imports and exports were likely positive. A rise in commodity prices benefits the currencies of commodity-producing countries. According to Bloomberg, the Reserve Bank of New Zealand (RBNZ) stated on Thursday that it will progressively sell off the government bonds bought during its quantitative easing (QE) program over the next five years. When the (RBNZ) sells bonds, the money supply is reduced because cash is removed from the economy in return for bonds. In the long run, decreasing a country's money supply leads its currency to appreciate.
Long
by TradeyMarkets
1
How to trade Triangle in Elliott wave?#HDFC forms a triangle as there are 5 corrective waves in a triangle of the Elliott wave pattern. But playing a triangle is not as easy as it seems. A triangle can break at any side, i.e. 1. The full move can be a triangle 3,3,3,3,3 2. The full move is ABC in which B can be a triangle. How to trade this triangle? We can make a short position in HDFC from here. The stop loss will be 2286. If HDFC will cross 2286, this means the whole move is not a triangle correction but the B wave in the ABC zigzag is the triangle. Now, HDFC can go 2360 after that we can short again because this time the zigzag with the triangle in a B wave is going to retrace fully. The analysis I gave is based on the Elliott wave principle. This is the advantage of the Elliott wave that we can play counter move when there are only two possibilities left. The colour Orange Wave count and orange line is the first possibility and the Red line and count is the alternate possibility. Thanks Traders Mantra
HShort
by tradersmantra