Elliotwavecount
AMZN Paths to 4K. The Three What IfsAMZN has been stuck in this choppy price action for quite sometime now, and I know we are all looking forward to that pop to $4000. Let me guide your eyes as I show you my perspective in three different scenarios which are color-coded in green, white, and red. Anything is possible with the market, so keep an open mind. This is just for education purpose only. You are responsible for whatever action you take based on this.
Crude Making Double Correction ?After completing wave ((3)) currently making into Wave ((4)) in my view its making Double correction which may take down to @ 4850 - 5000 Level. After which can resume its uptrend for Completing Wave ((5)).
Its currently on a verge of breaking trend line which is honored since may20. However it should bounce once to make 3 wave Up for making ((x)) before turning down and completing ((y)) and ((4))
NZD/CHF long positionThe RBNZ on their last meeting started the tapering program so that a bullish move for the NZD hence after tapering its rates hike. on the bigger structure the market is completing a WXY patterns that's in the same direction as the fundamental outlook. Note any correction will offer short term buys and any positive developments in the economic data should fuel the support for the NZD and put pressure on CHF
MATIC/USDT (4H) - Midterm LongHi Traders,
Chart shows it all. In my oppinion very good RRR setup, but consider your trading strategy and implement it. Also please share your EW Count or trading idea about MATIC ;)
PS: Matic could be also very good coin for long term hodl but we will see. ;)
21/10/11 - GBPUSD is in a Flat ABC Correction - By RT_Trading_Good morning everyone,
Today we are looking at are Forex chart as I think this could be an amazing swing opportunity for us. Sadly I didn't had the time to post this analysis when GBP hit our 124% entry which would be for you guys obviously the best entry too.
I suggest to entry sells, when GBP is done retracing the previous sell-off movement that saw on 124% extension. Maybe there will be the possibility of another entry that is as good as ours.
As you can see flat ABC's are very common in the market and they are a classical ''Bull Trap'' which occurs after a sell-off on a ''breakout''. Most traders would see this as a bullish breakout, but we are one step ahead and choose to sell at this point.
We are pretty confident with this trade since the first cycle contains exactly 5 waves which are required for the first correction of this impulse. Since GBP is very bullish a flat is nothing to be amazed of, since Flats mostly occur when the market is very bullish.
As always: You can read all information you need for your trade out of the chart.
We are looking forward to your feedback!
Have a good start into the week.
This is no financial advice.
RL from RT_Trading_
21/09/27 - Gold (XAUUSD) Near Ultimate Bottom - by RT_Trading_Hi Trader,
I’m glad to provide you with my new idea about Gold (XAUUSD). The last Idea hit successfully both of our take profits – it even went further.
Nonetheless, price action changes day by day, so does my analysis. Gold closed at a price around 1750.46 on Friday’s US session. What I noticed is that we are currently forming a triangle in which the inner structure seems to be forming inner 5-3-5-3-5 waves. This sort of price action occurs the most in the 4th wave of an Elliot Wave cycle.
So, what’s next?
I expect for this week, starting Monday with a lot of volatility. That is why I think it is possible to easily play both directions until we see the last sell-off on Gold towards 1725 . Why do I think we may see 1725? This number is of major importance because it is exactly the 161.8% extension of prior Wave A, which is the also the maximum possible extension for wave C. Currently, we are moving at around 120% extension area. Since we didn’t really see a big bull reaction here, I do assume that we may test this area with a very high chance.
This is where I will gladly buy myself in and hold my positions until Gold reaches my target of around 2050 . I’m very confident that we are ahead of a major bull cycle also if Gold gave the sensation of struggling a lot lately.
What do you guys think?
This is no financial advice.
Raffa from RT_Trading_
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