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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
AUDUSD is Approaching a Dangerous Area for the BearsHi Traders, The daily chart of AUDUSD allows us to put the decline from 2018 high at 0.81340 into an Elliott Wave perspective. As can be seen, the market is drawing a textbook five-wave impulse, labeled 1-2-3-4-5. Wave 1-4 is completed, and we are currently in wave 5. The sub-waves of wave 3 are clearly visible, as well. . In addition, the market took the guideline of alternation into account. Wave 2 is a simple a-b-c zigzag, while wave 4 is a triangle correction. If this count is correct, AUDUSD is now in the last phase – wave 5 – of this impulsive decline. . Once the wave Wave 5 is over, which will most likely be terminated within the gray area on the chart, a sharp bullish reversal can be expected. The anticipated recovery has the potential to lift AUDUSD price to the resistance area of wave 4 near 0.74006 if it's a corrective wave. In other words, a 100% rally seems to be around the corner if it's unfolded as an impulse wave. . Till then, we will be shorting AUDUSD in the shorter cycle. Thanks for reading! Veejahbee.
Short
by Veejahbee
2
USDCAD to Resume the Upside Move in Wave "iii"Hi Traders! The USDCAD H4 chart shows that the rally from 1.32499 to the top at 1.34501 is an impulse Elliot Wave structure. It has since made a deep corrective structure in wave "ii" which seems to have completed and unfolded as a zigzag pattern. Wave "ii" terminated at 78.6 Fib ratio of wave "i" and also last daily price action closed as bullish pin bar at support level signaling the completion of the correction. A buy order is ideal with a stop below the daily pin bar low but am going to be conservative on this setup and allow the price to break the Counter Trend Line for more confirmation. Thanks for reading! Veejahbee.
Long
by Veejahbee
AUDNZD SET TO RALLY 1600 PIPS IN THE NEXT FEW MONTHSHi Traders, The AUDNZD set to make a bullish impulsive move in wave (C) of a weekly zigzag pattern. . The weekly chart () of AUDNZD shows that the decline from March 2011 - April 2015 was a textbook five-wave impulse which supposed to followed by a three-wave correction according to Elliot Wave theory. . Since April 2015 low, prices had completed a five-wave impulse in (A), a double zigzag in wave (B) and prices are in wave (C) of the supposed three-wave corrective structure. . Not only that Elliot wave confirm the completion of wave (B), weekly price action also closed as a bullish engulfing bar from a key support level. . Working down to the H4 timeframe, we can also see that prices have broken out of a descending wedge and resistance level in wave (i). Once the wave (i) is completed, we will look for a three-wave correction in wave (ii) to position ourselves in the emerging bullish trend. . The overall target for this move is around 50.0% retracement of the decline which lined up with the level where wave (A) equals wave (B). . I wish you all a fantastic start to Q2. Veejahbee.
Long
by Veejahbee
Wave 5 ended at 0.28 XRP/USD, Time for an Upward ABC correction.I'm no expert in Elliott Wave theory but it just occurred to me that one of the main rules of Elliott Wave theory is that wave 3 cannot be the shortest of the three impulse waves. This means that wave 5 ended at 0.28 in February. If wave 5 is still in motion then that means wave 3 is the shortest wave, which would totally invalidate elliott wave theory. So based on Elliot wave theory I'm bullish on the basis of an upwards ABC correction from here. Also, think about the macro picture and how SBIVC, Temenos, R3 and many other institutions are all gearing up their engines for production in March.
BITFINEX:XRPUSDLong
by zmassey
2
Upward movement coming for Holo(HOT) Helloo! Holo (HOT) at the moment is in the last downward movement of the 4th wave, the wave we are actually in, so I've put my buy orders between the 61.8 and 66% retracement of the 3rd wave(0.00000023) .This level for me is key because here you have -Golden pocket retracement -Top of wave 1 -C wave of 4 we're in will be a 100% extension of A wave of 4 Knowing that as wave 3 is extended,wave 5 could be same lenght as wave 1, I'm gong to take 50% of profits at that level(0.00000040) and if we manage to go higher I'll have a look to the second target which is 161.8% of wave 1 (0.00000051), 'cause you don't want to take profit and lose a potential 3rd wave extension ( if we count this as a 1-2-i-ii instead of a 1-2-3-4). This is a quite risky trade 'cause you could miss the move if price doesn't retrace to the 23 level, because we pretend wave 4 to kiss wave 1, so I have a smaller buy order a 25. Stop loss could be at 19-20 because a wick is "allowed" into price 1 territory. Hope to read your comments and ask to your questions. 31tc01n rul35! cheers Pupulandia
HLong
by pupul4nd14