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Elliotwavecount

EURNZD BULLISH TRADE IDEA FORECASTHi Traders, The EURNZD seems to have completed a minor ABC zigzag correction within a major ABC zigzag pattern. . The price is currently reversing from a key support level and has the potential to move up towards the ascending channel resistance. . We will wait for the price to trade above the blue Counter Trend Line with a five-wave impulse, and then we will look for a three-wave corrective pattern to confirm the bullish move. . Will post an update soon if price completed the two phases. . Stay tuned. . Any opinions on EURNZD?
Long
by Veejahbee
BTC/USD 15min/4H charts (12/26/2018)Good morning, traders. I hope you are enjoying the holidays and had a great time with friends and family yesterday. I am still battling these cedar allergies, so we will see how long I can keep the live stream going this morning. The last analysis I wrote had us working on wave 4 as a running flat as well as a re-accumulation without a Spring. Since that time, price dropped below A which could make it an expanded flat, and re-accumulation could still be the plan that's playing out with this drop below A being a Spring. Wave C will generally retrace about 1.62% of Wave A. That means we could see price ultimately heading toward $3520 before making a higher high. We also know that an expanded flat usually targets the 50% retracement of the previous move which is where we hit exactly with the lowest part of this move down. The blue TR denotes the large accumulation zone and the purple TR denotes the smaller distribution or re-accumulation zone. There is also the possibility that we could've completed 5 waves up with this current move down being wave 2. In that case, a move toward $3500/$3600 would be the 61.8% retracement of wave 1, which is what we generally look for as a sign of another strong impulse wave readying itself. That level is also the next area of support. However, we have just seen price print a descending wedge which often, but not always, marks a reversal. This current level of support also means that price is hovering around the 4H pivot while printing a small accumulation or redistribution pattern. The thing that bothers me the most at this time is that the 4H RSI did not return to oversold yet, which leads me to believe that if price continues up from here, it is most likely completing wave 5. The corrective larger wave 2 should then take RSI back down to oversold. Most noticeable is that the volume on this drop back down has been much smaller than the volume on the push up. Remember, expanding volume with wider-spread candles is a sign that volume and price action are in agreement which means it is a trend. In this case, that is what we saw with the move up from the price lows, so demand is in control at this time. In either case, we should at least have one more leg up toward the low-to-mid $5000s. Whether that is a wave 3 (if we've had 5 waves up for the first larger wave) or a Wave C is yet to be seen. Zooming in to the 15 minute chart, we can see the recent descending wedge as well as what appears to possibly be a descending broadening wedge. The two lows which I have marked with the blue arcs could potentially be a double bottom. This, as always, won't be confirmed until price closes above the highest point between them which is $3863.34. If it does, then the target based on that pattern would be around $4050. This puts it close to what would be the completion of wave 3, which makes sense. The key levels I am watching are the swing low at $3674.73 and that $3863.34 swing high. A close below the former or above the latter indicates the direction traders should be looking for price to continue taking. A closer look at this TF also shows a small blue TR. This appears to be accumulation on this small TF as we can see demand building and supply shrinking as denoted by the volume and price action. We can also see that the proposed wave movement lines up well with the volume nodes and the TRs, with this 5th wave up on the smaller TF coming to a halt right at the top of the purple re-accumulation? TR/large blue accumulation TR. Taking a step back to look at the 1D, we can clearly see accumulation printing out. If we get a bounce anywhere from here to around $3500, then we should likely see accumulation playing out with a Spring. Instead, the low where we bounce would be the LPS. As I have mentioned numerous times before, a Spring is never required though it happens more times than not. This may also print the lowest point of the right shoulder of an IHS, as we have discussed many times before, which would give us that low-to-mid $5000s target. If that is a wave 3, then we can expect wave 5 to ultimately notch a top around $6000. If it is a wave C, then we can expect price to head back toward the 2018 lows. If price, in the near-term, continues lower than the $3500 general area, I would be looking for a break below the 2018 price low, creating a Spring, and then the bounce back up and out of the large blue TR. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
AMD 40% SHORT (You don't want to miss out on this)Hey everyone, after a thorough analysis of AMD, I have concluded that a 40% motive wave is on its way, sending the price from 18.73 all the way down to at least 11.21 but don't be surprised if it hits 8.00! I would strongly suggest laddering out of the position to maximize your profit since an exact target has not been determined. I am so certain of this move because we have just broken out of what appears to be a fourth wave triangle and failed to rise above the resistance the next day. From this, it is safe to assume that the next wave will be a fifth wave impulse into the wave four territory of the larger trend. For the stop loss, I would recommend setting it at 20.75 because any price higher than this will make the current wave count invalid. Feel free to message me any questions, comments or concerns regarding my ideas. Happy trading!
NASDAQ:AMDShort
by Mika_k
10
$BCC $BCH forming a PERFECT double and triple zigzag..Seems to be forming Elliott's original labelling of double and triple zigzags and double and triple threes. Labeling the successive actionary components of double and triple corrections as waves W, Y, and Z, so that the entire pattern is counted "W-X-Y (-X-Z)." The letter "W" now denotes the first corrective pattern in a double or triple correction, Y the second, and Z the third of a triple. Each subwave thereof (A, B or C, as well as D or E of a triangle) is now properly seen as two degrees smaller than the entire correction. Each wave X is a reactionary wave and thus always a corrective wave, typically another zigzag . Let's see if it continues to play out as I suspect it will.
B
by UnknownUnicorn1572975
NZD/USD wave count and fib updateConsidering the wave measurements of "1" and "3", I will expect a 5th wave (wave 3 extended past 1.618 wave 1). I underlined the potential level. If we were to get a 5th wave, then we would most likely get a correction here (triangle or shallow flat). Otherwise, wave "3" could be a "W" as a 1-2-3 can be an ABC, and we would get a larger correction downward, but considering several factors, I will anticipate a wave 4 type correction and a wave 5 as I described.
by thillygoosth
My Price Prediction for ETHEREUM keep in mind, I'm still a bit newer to Elliot waves so its a bit hard for me to draw them "in the dark", so to speak, but I think by tomorrow we will see ETH hit the resistance around 192 and you should probably take a long there for the next uptrend to begin. take this with a grain of salt but tomorrow if you see it happen then you know :D if you want to short soon wait for the B to complete somewhere above the resistance line at 198, possibly around 200 and short there to C
BITMEX:ETHUSD.PLong
by mon3y