Elliottwaveforecasts
XAUUSD, 1hr timeframe, Elliott wave 3rd wave analysisHello my friend,
i am going to share my view on XAUUSD again this time.
Previously i make a sell call on XAUUSD based on wave analysis of Elliott Wave. Price nearly hit my SL before reversing into TP 3 and i managed to banked nice profits from it.
We are curently on the 3rd wave of downward movement and price already passing through some strong support.
I am selling XAUUSD from 1975 as per this writing
Sell XAUUSD 1975
Stop loss 1990
Take profit 1953
RR ratio 1 : 1,6
Good Luck
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
EURAUD, 4-hour timeframe, C movement of ABC correctionBased on the 4hr timeframe we could see price already finished with B correction of ABC movement from elliott wave. After B is finished, C is expected to come in and it usally go to around 61.8 - 127.2 fibonacci retracemen of B.
I already have 1 buy position from 1.6190 and planning to add another buy position.
During friday price finally managed to closed above 1.6240-1.6270 resistance which is a good news for bulls.
This pair offers a good RR ratio currently as i believe AUD wil go down so EURAUD will shoot up.
Buy EURAUD 1.6260
Stop loss 1.6190
Take profit 1 @ 1.6420 (first resistance)
Take profit 2 @1.6550 (second resistance)
Take profit 3 @1.6680 (127.2 fibonacci retracement)
Good Luck
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
BITCOIN (BTCUSD) late 2017-like EXPLOSIVE BULL MARKET is CLOSE Bitcoin (BTCUSD) has been in a massive multi-year triangle consolidation pattern since last 2017.
Wave E of the triangle has completed a Leading Diagonal minor "a of E."
Next is a higher minor "b of E" to retest falling upper trendline of the multi-year triangle.
After we should get a violent minor wave "c of E" drop to between lower trendline and 61.8% Fibonacci retracement of wave D.
Till more price waves develop down it will be hard to predict its exact end right now but will be in the range of $4,500 and $6,500.
This area will be the accumulation zone for the new bull market.
I believe later this summer to October will be when the next explosive leg up begins to take us above $20,000 VERY quickly - similar to what happened in the fall to the end of the year 2017.
Patience is needed now for final wave E to complete with another drop in the coming minor wave "c of E."
Cheers!
Cyrus
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
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.