Elliottwaveideas
BTC getting ready for a 15% drop next week?BTC is currently forming a Rising Wedge pattern with proper Elliott Wave Counts. We can expect Wave 5 to reach around $25250, from where it may start dropping and breaks below the Rising Wedge Pattern.
1 Day 100 MA is also around @25200 currently. So a rejection can lead to this drop.
We can expect a 15% drop into $21500 levels next week.
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USDCAD Long: Excellent Buying Opportunity To Take Now!USDCAD is giving us an awesome entry to go long. The trigger for this trade is an ending diagonal pattern (the wedge shape between the dotted lines).
Why do we like this setup do much? A diagonal pattern is a sign of exhaustion. The choppy, shallow-sloped, overlapping price action is an excellent sign that price is weakening, and is due for a change in trend. Clear momentum divergences on the MACD and RSI support this idea as well.
On top of this, the pattern comes at the very end of another pattern we love to see: an expanded flat (as outlined by the (A)(B)(C) labels). This gives even more confluence to our idea, as a flat pattern is one of the core corrective patterns we trade here at Parallax.
Exactly how you enter is up to you. You can enter now, or wait for the highs around 1.2950 to be breached first. Regardless, the invalidation level for this trade is 1.2766; price must not move past that level for this wave count to remain valid.
This trade setup was created using the rules and guidelines of the Elliott Wave principle. We love the Wave Principle: it's our #1 choice when it comes to forecasting and technical analysis. We strongly believe that no other trading system gives you the same level of confidence when trading. The wave principle provides a rules-based approach for trade entry and exit, as well as active position management.
At Parallax, we focus on wave analysis and 1-on-1 education to build a foundation of skills that give our clients the edge.
We trade Crypto, Forex (FX), and equities. We keep our analysis simple, clear, and easy to execute. Comment below if you would like to see more trade ideas, Elliott wave analysis, and market updates.
AUDUSD is bullish in long term.As you can see, I think this symbol is in correction to correct the latest super cycle impulse.
So we have A and I think B will complete soon at 0.68578.
I except that hunt price in this price and follow it until 0.70700 for my first target.
If everything OK at this resistance to continue bullish view, I trace it until 0.72500 as second target.
Good luck.
Futures Crude Palm Oil to Drop at the price area of RM3000Hello guys, this is what i found for the continuation counting from my previous post.
A running triangle appeared in wave 4 of wave C.
We were expecting the price to go beyond wave 5 in the area of RM3069 (to complete wave C)
Well, i could be wrong but luckily my expectation of alternate wave in wave 4 did happened.
This is just for knowledge & educational purposes. Please trade at your own risk.
SPX Elliott WaveNice bounce will be watching how it develops. The initial move up looks corrective to me, but in any case, a Zigzag and double Zigzags have similar most likely targets, so I will be looking in the same area regardless. Some nice confluence in that area. If helpful, please like and follow! Cheers.
United States Steel Corporation - LongThe daily chart of X (United States Steel Corporation) shows a clear five-wave decline coming to an end. While we might see a small decline still, we recommend going long here as this will be followed by a three-wave correction that could take prices back towards 25/28$.
Now bitcoin is in corrective movements.Now bitcoin is in corrective movements. According to Elliott, it is in the dominant zigzag pattern. Any growth in this pattern is an exit opportunity and somehow a rest for further decline.
After completing 5 waves of wave C
There are two predictable scenarios
First, the continuation of the correction. In this case, this coin will grow during three main waves, and after that, it will fall sharply during 5 waves.
The second scenario is the end of the correction after the completion of wave 3, and after that this coin can climb up to the level of $80,000 based on the Fibonacci target
. BINANCE:BTCUSDT
NZDCHF: Price has started unfolding final wave (Y)Key levels: 0.6520
Price is forming a corrective descending channel for 13 months.
Currently, the price is facing resistance at the upper band of the parallel channel.
As per Elliott wave projection, NZDCHF is forming corrective structures (W), (X) & (Y) . Price has completed the intermediate wave (x) and started falling for the final wave (Y).
Traders can short for the following targets: 0.6362 - 0.6274 - 0.6124- 0.6052.
Invalidation: Breakout of wave (X)
luncLunc Technical analysis basically on elliott waves Principles and Price action Patterns
Lunc can be go Down to make a Double bottom
Wait and watch.
BTC going zig zag in an ascending channel ATM.Await confirmationOn the 2h timeframe BTC seems to be stuck in an ascending triangle on 2H TimeFrame
If this is confirmed then we can as well embrace for a breakout after 22.4k. This will open up a small spring for BTC
MACD indicates the ending of a selloff
Bollinger Bands median is low within the Bollinger Bands range
RSI trend reversal with room for growth
Resistance is small in terms of orders placed
Accumulation ongoing
USE STOP LOSS if you enter now, no firmation yet. We got 3 white soldiers but we still need the support at 20k
$SBOW ~ Correction in progress...As shown, majority of energy stocks are starting to correct. Looking into the future, we believe these companies will provide amazing opportunities. We expect barrels of oil to reach $300-400 a barrel by the end of the decade. Recommend tracking this sector very closely for amazing opportunities.
EGLD/USDT Elliott Wave CountEGLD Elliott Wave trade idea
I think we have an expending leading diagonal for wave A or 1 , an ongoing WXY complex correction for wave B or 2 that I think will bounce into the blue box.
Let's see how the market develop from here. I will update count later.
I am long for short term also I will take this trade for at least a C wave with entry form the blue box.
If you like my analysis please give it a like and don't forget to subscribe for my future counts. Thanks!
LUNCBUSDWave 3 takes time to evolve & it’s never the shortest wave
Post crash of LUNA (now classic) and Pre LUNA-genesis correction of LUNABUSD (now LUNCBUSD) has been “complex”
Channel line draw here is based on the fact that labelled wave 2 is “already in place”
Ideal entry would be price above wave B with stops below wave c
Trend confirmation for wave 3 would be price moving pass high of wave 1 and a break above the declining channel line about 0.00008.
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