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XAUUSD - Elliott Wave ForecastHello all, A quick update, the smaller degree wave (v) could be in play. Price has bounced of a possible wave (iv) count around 1831-1832 (38.2%). If the wave (v) is in progress then I expect the price to drop back out of the marked sell zone. Please refer to my previous ideas which are linked below. Follow for further updates. Trade safe, Beyond Edge Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
OANDA:XAUUSDShort
by BeyondEdge
GOLD Draw A Pattern That Could Send The Price Above ATHThe daily chart above shows that Gold has been in a corrective phase (bearish cycle) since August 2020. This correction started after a strong rally that sends the precious metal to an all-time high. The bullish chart pattern makes Elliot Wave sense and suggests that XAUUSD could be poised for a move higher over the final weeks of 2020. The pattern on the chart is called a double zigzag, labeled (w)-(x)-(y). This corrective structure is also enclosed within a parallel channel, and the price is currently retesting the lower boundary of the channel and important moving average. According to the Elliot Wave principle, once a correction is completed the price resumes in the direction of the prevailing trend which is bullish in Gold's case. The thing about correction is that they're usually fully retraced , so targets above August high is plausible in the weeks ahead. What's your view on GOLD? Let me know in the comment. Thanks, Veejahbee.
OANDA:XAUUSDLong
by Veejahbee
GBPUSD🅶🅷🅾🆂🆃 _ 🆃🆁🅰🅳🅴🆁 _ 🆂🅰 Cable seems to be giving us a ( w-x-y ) pattern for this final leg of wave (B) of (A-B-C) correction of Wave (A).. But it seems like we might have completed a (1-2-3-4-5) pattern in a 4hrs chart, if it prove valid then bears are now preparing to get on boards for wave c. If cable continue to break and trade above 1.33217 level, then this will prove bulls still in control of wave c or wave y of c of (a-b-c) of (b) but if price trade below (1.31948 / 1.31034 ) or below 1.29737 then we might consider having completed wave b then bears on boards for wave c The structure may change at anytime, make sure you validate it and apply your risk management before placing any trades... This whole correction could be a Running Or Expanding Flat if Cable continue pushing higher💵💵💵😊💵💵💵 All the best 💵💵💵😊💵💵💵
by Ghost_Trader_SA
BULLISH ON CRUDE OIL.Been holding this chart since 9th July. Bullish till $44/$45 and then we may see the continuation of the Elliot wave pattern (ABC) Why $44? Because that’s where the 50MA hangs on the weekly chart. Or we could just continue to go up, whatever the case I will follow what the chart is telling me. Only looking for buying opportunities in this market since we are still clearly in a uptrend. I wouldn’t get bearish until we close below $41 on the daily chart. CrudeSignals.
TVC:USOILLong
by UnknownUnicorn10751353
S&P 500: Potential Nine Percent Decline SetupS&P 500 decline in a five-wave contracting pattern knows as leading diagonal from its all-time high. It's labelled i-ii-iii-iv-v in wave (a). According to Elliot Wave theory, a three-wave correction follows every impulse move, that's the subsequent a-b-c zigzag move in SPX. The correction retraced more than 80% of the impulse, retested the upper boundary of the channel + daily demand zone. Price is expected to resumed in the direction of the major impulse after a correction. The decline in wave (c) has the potential to take wave (a) low and beyond. I will look for the break out of the parallel channel and green line for a conservative short entry while the red line is my short-term invalidation zone. What's your view on S&P 500? Let me know in the comment. Thanks, Veejahbee.
OANDA:SPX500USDShort
by Veejahbee
7
Where will Gold Be Consider VERY Bullish?Gold breakout of the descending trendline + resistance after completing an a-b-c triangle in wave 4. I will be watching the price for a potential retest of the broken level and continuation higher. While the price is still trading below the blue line, then it's a tug of war between the bulls and bears. The break of wave b high, the blue line, will give confidence to the BULLS! Are you buying Gold or Selling? Let me know in the comment! Thanks, Veejahbee.
OANDA:XAUUSDLong
by Veejahbee
AUDNZD Inverted Head & Shoulder Pattern Favor BullsThe AUDNZD 4hr chart above shows a classic inverted H&S pattern. Price also broke out of the long-term parallel channel and support & resistance level. Price has the potential to retest the broken neckline as support and resumes a strong impulse move in wave (3) of iii. Entry Criteria: Buy from or below the current market price and put stop loss at the red level. Wait for the breakout of the green line for conservative entry! Regards, Veejahbee.
Long
by Veejahbee
2
Elliot Wave: AUDCAD Heading Higher In Wave iii of 5.AUDCAD reversed from the demand zone and completed a 5-3 wave cycle. According to Elliot Wave theory, once a 5-3 wave cycle is completed, the market will resume in the direction of the trend! The corrective wave unfolded has a w-x-y double zigzag in wave ii and already fulfilled the minimum requirements. Price has the potential to move higher in wave iii of 5. Entry Ideas! The green lines are the confirmation level for the bulls. The red line is the invalidation zone. What's your view on AUDCAD? Let me know in the comment.
Long
by Veejahbee