Get started

Elliotwavecount

EURAUD - A TUG OF WAR BETWEEN BULLS & BEARS CONTINUEThe EURAUD weekly chart above reveals that the rally from February 2017 low to as high as 1.61957 in March 2018 took the shape of a textbook Elliot Wave leading diagonal structure. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v); wave (iv) overlap wave (i) high which make the whole advance an Elliot wave motive diagonal rather than an impulse. The Big Picture Still Remains in Favour of the Bulls According to the theory, the motive waves “leading diagonal in this case” point in the direction of the larger sequence, and a three-wave retracement in the opposite direction follows every motive pattern. Here, EURAUD correction seems to be unfolding as a "top flat ascending triangle" pattern labeled (a)-(b)-(c)-(d)-(e). Price has drawn wave (a)-(d) of the triangle and remain wave (e). So, in the short term, the price has the potential to move lower to complete the wave (e) of B. However, once the corrective phase of the cycle is over, the larger trend resumes in the direction of the motive wave. This means that once the corresponding triangle correction in wave B is over, another rally in wave C can be expected. The resistance area around 61.8% Fibonacci level of the monthly impulse structure “Not show on the chart” is plausible for the bulls. Bottom Line If this count is correct, traders should expect a short term decline and long term advance in EURAUD as planned on the chart. Did you like this analysis? Let me know your thoughts in the comment.
by Veejahbee
6
Bitcoin Wave Analysis Bullish Wave To Create Higher HighsBitcoin formed a big corrective structure all of 2018 and I believe it have ended. Price have began to rise quite impulsively from the $3,270 low of December 2018. Price is approaching a strong resistance/supply area around the $10,000 level wgere I believe we will encounter some weakness which will give people a chance to buy the pullback. In conclusion I do believe Bitcoin will keep gaining strength throughout the year eventually creating new highs.
BITFINEX:BTCUSDLong
by JjohnsonBeGreat
LTCUSD EW Count with Pitchfork & Orderblocks LTC has been leading the market with small and shallow retracements since Jan 2019. What is that screaming? A wave 3 push. Forecast: Short Term: waiting for a retracement and complex wave 4 correction before pushing higher. Long Term, the completion of wave 5 which should take us to the 0.5 fib level (around 160) of the Y move before starting the Z of a WXYXZ (confirmation after breaking Dec 2018 lows) or push higher to break ATH. Trade Status: Neutral until support by the weekly order block is held and high is broken along with Pitchfork warning line.
COINBASE:LTCUSD
by tvlester
EURAUD - POTENTIAL 1000 PIPS BULLISH TRADE SETUP Hi Traders, The EURAUD daily chart shows that the sharp bullish run from 1.53505 low in December 2018 can be seen as a five-wave impulse in wave (A), labeled 1-2-3-4-5. . The Elliot wave theory states that a three-wave correction in the opposite direction follows every impulse. In EURAUD's case, wave (B) looks like a W-X-Y double zigzag/double three retracement. . The correction in wave (B) retraced 61.8 - 78.6% of the impulsive move in wave (A). If this count is correct, a 5-3 wave cycle is completed, and the trend can be expected to resume in the direction of the impulsive sequence. . Target above 1.65547 "wave (A) high" make sense in the mid-term, unless the price drops to a new low below 1.56911 "current wave (B) low." . Did you like this Elliot Wave Analysis? Kindly let me know in the comment. . Thanks for reading! Veejahbee.
Long
by Veejahbee
2