Elliottwaveprojection
Next Top Is...Minor wave 1 may have finished today, slight chance of it finishing if a new low occurs shortly after the open tomorrow. For now, Minor wave 1 was 3 days. Wave 2 will likely be similar in length. Historical relationships point to a possible top around 4000.
There is not much news until the Fed so we could meander upward for a few days while we wait. I do expect Minor wave 3 to be a very sharp drop in the order of 300+ points over 3-6 days which would be fueled by a larger than expected Fed hike and/or hawkish comments afterward.
Minor wave 1 has been eventful so far, we shall see what happens next.
XAUUSD GOLD Elliott Wave AnlysisThe Gold Commodity has been moving in the Impulse pattern in the weekly timeframe.Now he gold is in the Wave 4 Double three pattern W-X-Y which will complete around 1670 and 1575 usd levels.After the end of his wave 4 correction the gold will move into a big wave 5 impulse target above 2200 usd as shown in the chart levels.
WTI CRUDE OIL ELLIOTT WAVE ANALYSISThe crude oil commodity has been trading in big A-B-C Flat correction for last couple of months which is going to complete very soon.Around the level of 80 usd the oil will start big Impulsive Rally.Previously oil has completed the big impulse as shown in the chart .
USDJPY approaching BIG 148 Intervenion level. Wil BOJ act?The bulls are getting nervous on USDJPY as BoJ once again repeats potential intervention on the FX markets because of weak JPY which is not good for imports. Technically, we see pair trapped in a wave four consolidation which can be a flat or a triangle as first leg A and then B unfolded in three legs. As such, we still think that the current price move in 141-145 range is a correction that belongs to an ongoing uptrend. We see a nice important level around 148, especially if we consider levels back in 1998. That said, we believe that USDJPY is in some very late stages of a recent recovery, but short-term structure not showing a top yet!
XAUUSD: Elliot waves Price Action 4hrHello friends. According to the structure of the wave and the formation of the corrective wave ABC, and now the first wave of the rising wave c has finished and we are moving towards the formation of the third and fifth waves, and it is expected that the specified range will rise.
USDNOK Can Fall Hard If Neckline Is BrokenUSD came down last week as sentiment changed when ECB raised rates by 75bp, so it appears that the USD will now give some moves back as other CB trying to follow the FED. We have also seen some rally on crud, as demand can increase as we approach the winter. Higher crude oil will have a positive impact on some commodity currencies, like NOK, CAD and even MXN, especially during the USD weakness. As such, we have decided to look at the USDNOK today as this one can have the most downside potential.
On a daily chart we can see that price came nicely higher last year, but recovery from 2021 low is overlapping which normally means it's a corrective price action. We see this as a higher degree pause in wave B that can be coming to an end after recent turn down from Fibo. cluster resistance area. The divergence line on the RSI also suggests that bulls can be done, especially if we consider the Head & Shoulders top formation. However, a trendline near 9.6 must be broken to confirm lower prices into the third wave of a decline.
ADSK Elliot Wave 5 in progress Auto Desk (ADSK) wave 5 in progress and trying to reach the target price of $238 - $240. This is on a daily chart. Wave 3 showed some extension so wave 5 might not complete its full course. Another confluence is that RSI Crossed 50. Also, the MACD Line crossed the signal line.
DELTA | Wave Analysis | Target Projection - Take Profit ZonePrice action and chart pattern trading setup - take profit position
> A descending triangle major wave 2 - ABCDE pattern with 3-3-3-3-3 complex structure
> Target: a possible scenario of making D-wave with an upcoming ending diagonal at the upper resistance of the triangle 0.786-1.0 retracement +15-20% upside
> Stoploss: at the previous high position a-wave - 8% downside
> Risk reward ratio: 2:1 approx.
> After completing the D-wave could possibly retrace downward trend 0.382 - 0.786 for the final E-wave which is the most difficult wave to predict.
Always trade with affordable risk and respect your stoploss
Good luck
BTC 4H Wyckoff Accumulation updateGood morning Traders,
Following my previous analysis, I have updated my chart to show my thoughts on what's happening.
Following the "sign of strength (SOS)" stage, we have seen a re-test of the "last position of support (LPS) stage and have now seen the typical continuation pattern / shape you would expect following the "SOS", where the price is converging before breaking out.
I believe the "Phase E" of the wyckoff was delayed by the re-test of the "LPS", but we are now starting to break out of the top of the range and I would expect volumes to increase and price to increase, probably tomorrow when the market re-opens to the large institutional traders.
We have also seen some of the minor downward trendlines break out upwards.
Full view of chart in comments.
All I keep seeing on other posts is that this is a "BEAR FLAG" or "RISING WEDGE" and price is going to fall to 10-13k, but to draw the flag / wedge trendlines, the line cuts through the price action / candlesticks. In my opinion if you have to do this to "make it fit", this is not a correct trendline and people pass it off with "false breakout" all the time, but a trend / pattern is not a trend / pattern if it is consistently having false break outs!
As always this is not trade advice and is just my own view, so trade at your own risk.
Like, comment and share!
Have a great week and good trading!
GDuB
USDJPY LONG - Long - termThe USD/JPY is currently at levels last seen in 1988, the second correction in the upcoming bull run is complete, and more dollar strength may be ahead. Although this is a strong resistance level, I think price may break through to levels around 157.78 as a first target. This would represent an equivalent length of the first impulsive wave that started in January 2012 and ended in May 2015.
There is also a very good chance that the current wave could last twice as long as one, or at least 1.618 times as long.
Disclaimer: The information provided here is only for educational purposes and should NOT be taken as investment advice.
BTC Prediction, Bearish!?!if it is in a zig zag correction then it will do something like this. Most likely however, wave 3 will be longer etc and the first 5 wave move is just an estimate of the usual fib points each wave reaches. The whole zigzag will probs reach 0.5 of larger wave 1, which we will then see btc impulse down quite hard i presume if this is all true.
what are your thoughts?
Ethereum- Wait on Bounce From The Support First, Then BuyHey all,
Cryptocurrencies are trading lower, as USD gets strong across the board and stocks turn down. There is room for more weakness in the near term, but the Ethereum can still be interesting for a bounce if the 68.1% and 78.6% Fib will hold.
For more details, check the video.
Elliott Wave Theory & BTC Decline/Bottom...??Haven't published in a while, and hardley ever use Elliott Wave as a trading hedge, but after some research , AND I SHOULD HAVE FINISHED THIS LAST NIGHT BEFORE TODAY'S DROP! I have found several ways to measure the BTC Bottom.
80%-85% drawdown from ATH on every bear market = $13175
Re-test last Bull Run highest Monthly close = $14000
Then there is the Elliott Wave Theory... 5 waves, with 3 larger down and 2 up like in the chart.
Text Book Wave Theory states 1 and 5 are same percentage drawdown. This chart is -50%....
and 2 and 4 should be same percent bounce up.
We have that confirmed at +43% & +45%
Wave 3 down should be the biggest percent down...confirmed at -60%
Zoom out to the 2Wk or the Monthly chart and you can easily see the wave counts and the similarities in the waves.
Also play with the Chart Above to read stats
Another way to estimate Elliot wave #5 down is to use a Fib Retracement from the previous low of #3 to the High of #4 extensions should be downward.
The traditional wave #5 falls to the range between the 1.272 and the 1.414 ...Highlighted in the chart
Now combine all the stats abd the 5 Day BBWP turning up and Stochastic turning down ...BTC should go lower
Wave #5 should also have 3 inner waves, down first...Today's draw, possibly a bit more, then a bonce up and then further down to the area...
where ALL HIGHLIGHTS CROSS ON CHART
between $14600 & $15600
also be prepared for the 1.618 to be a wick at the 85% in the 13K bracket where the monthly closing high of the 2018 bull run hit
Look at world markets and the DIXY too and OIL costs, the FED all that BullShit...they want all markets lower and more people unemployed and spending less money(ramble)
We'll see how this pans out and revisit in a few weeks
S&P500 : Elliot waves 15 min
In the S&P 500 index, we see the fall of wave C in the form of five waves, and it is expected that this trend will move in this way according to the chart to form wave 1 of C, and then the second wave will move to the specified range, and then a sharp fall for the third wave. will continue