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Elliottwaveprojection

CADJPY Triangle Gives Us Clear Entry for a BuyTriangles are always a treat to find on the charts. This is because the pattern provides an entry signal that is clear and easy to execute. In Elliott Wave Theory, a triangle pattern consists of 5 internal subwaves, ABCDE. When those subwaves are complete, a break of the triangle is expected in the direction of the trend that occurred prior to the triangle. In this case, we are expecting a thrust to the upside, now that wave (e) is potentially complete. Triangles always come before the final move in the larger term wave sequence. In CADJPY, this means we are expecting one more wave to the upside before price corrects to the downside. The triangle pattern gives us everything we need to catch that final bull move. Price must remain above the invalidation level of 103.34 for this interpretation to remain valid. At minimum, we expect a move to the previous highs. We are targeting the 108.00 handle as our initial profit target. There is a good reason for this too... comment below if you want to learn how Elliott Wave Theory can help you find high probability targets as well. 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
Long
by ImreSG
6
MATICMatic seems to be done with the W1. If the c wave bottom is in as my chart suggests then we are coming back into W2 now or after $1.17 tests. The W2 can finish around .55c-.62c to retest B wave of the 1 shown off the lows of the triangle. Either way this move looks exhausted. If the C wave is not finished and this move up was the 4th of the 5 down for the C wave Flat correction from the 2021 highs then to that point MATIC will likely test .23c and finally bottom. Only time can tell but I lean towards this chart projection.
M
by Big_Mike716
Bitcoin. Bearish Idea. I published bullish idea but also have bearish Idea that needs to be pointed out. There is a bearish order block near near 29-30k level that is confluent with .386 of the high of 1st macro pivot. Also, another target at golden pocket of local pivot with .386 of macro high. It would make more sense that a zigzag (5-3-5) "should" have equal size leg (1-1 extension). All options should be on the table and make sure all validation and invalidation points are marked and go from there.
BYBIT:BTCUSD.P
by sumingu79
WHA | Wave Projection | Inverted H&S Bull DivergencePrice action and chart pattern trading setup: > Wave projection possible intermediate 4-wave rebound with inverted head & shoulders reversal pattern and MACD bullish divergence > Entry @ Neckline pullback > Target @ H&S Target or 0.386 retracement of previous 3-wave +6% upside > Stop @ right shoulder - 3% downside > RRR: 2:1 The downtrend target C-wave or final 5-wave estimated at 0.786 of the last B-wave Always trade with affordable risk and respect your stop
SET:WHALong
by dukeposh
BTC new trend - Following on from my wyckoff accumulation ideaTo continue on from the wyckoff accumaltion posts I have shared, I now believe the "Phase E" of the wyckoff schematic is in full swing and the new trend has begun. As you can see on my chart there is a new upwards channel being formed consisting of higher highs and higher lows, so I think this is a sign that the trend has now changed and I have marked up my elliot wave forecasts using a fibonacci extension. As you can see we are in to the 3rd subwave which will consist of 5 waves up, so we will soon have a correction down to give opportunity to buy. Any questions, feel free to ask in the comments below. Full view of chart in comments too. Happy trading and be sure to manage your risks. GDuB
BITSTAMP:BTCUSDLong
by GDuBFX
2