SPX New target revealedAlways had this other box down the road.... but didn't think it would happen this fast. A rebound is bound to happen any day now. Getting real oversold now.
Elliotwavecount
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!
AUDUSD ready to go upAUDUSD is in a uptrend channel. And accordingly with my waves count is ready to go up for long term.
EURUSD ABC correction is over bull run coming to finish 5th waveAs my previous analysis, we successfully entered 3rd wave. Now the correction of third wave, which was ABC correction, finished. It is usually not recommended to enter at fifth wave.
TO ENTER THIS TRADE
SL —> 1.13
TP1 —> 1.14208
TP2 —> 1.14560
Always be careful with your lot.
BTC - Relief rally back to 7k I've been bearish for past couple months now since the yearly low has been taken out, my bias has shifted back to being bullish for sometime.
BTC seems to be making a large flat structure either an expanding or running flat since it broke the low of A wave.
Looking for longs from here back to 7k region for a relief bounce to finish off the C leg in the big flat structure.
USDCAD wait to go longUSDCAD maybe finished the 3th wave. If this counting is correct we need to wait a correction (4th wave).
Or, maybe the 3th wave is not finished yet. In this case this correction will not happen.
EURCAD ready to fallEURCAD finished the flat correction pattern and is ready to fall on the impulsive waves.
$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.
EURJPY forming wave 3 for bearishEURJPY finished the first correction wave (wave 2) and start the second impulsive wave (wave 3) that is the biggest of all waves.
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.
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
GBPAUD - Sell the topGBPAUD is in a big monthly corrective structure as WXYXZ triple wave combo prior to which there was an impulsive leg down.
There is divergence present the between Y and Z wave indicating the corrective structure is coming to an end.
This a good short trade to take, if the trendline below breaks its can be a big move down to test the lows.
Watch for break and correction below the trendline for confirmation of the big move.
CGC - setting up for downside CGC broke down and now consolidating for further downside move.
A good short setup on the 1hr chart .
ONT/ BTC - buy setupONT broke out, seeing some consolidation now. Good buy setup for C leg of larger degree ABC correction.
short now and sell at golden ratio 618 extension
short now. were getting ready to go test that "golden ratio" 618 extension any minute(ethereum)
Siacoin / BTC - Buy the retest of the lows SC is making large flat structure. Buy the retest of the lows or new lows for a trade to test the the high of a.
USD/CAD has a Elliot wave on 4h hour chart, Here is the Proof!!!Hello ladies and gentlemen, i hope you all having a nice weekend.
Today we have a post with educational idea of elliot waves. Let's observe together, i hope you will like it.
Rules of Elliot waves:
1- Second wave's low is higher than first wave's low.
2- If second wave makes a sharp correction, 4th wave will make a flat correction or vice a versa.
3-If 3rd wave is the longest wave, the time length of the first wave must be equal to the time length of the fourth.
4-After the 5th wave, A-B-C correction comes and this correction will take us to C level which is very close to low of 4th wave.
We are in A-B-C correction now but main problem is i couldn't define B point perfectly because market is closed right now and not sure if we were passed B point or not thats why i need to see more reaction of usd/cad to define perfect B point.
Okay what will be our setup for this trade?
-For a safe trade, you can wait till price breaks inclined support. Then aim 1.29610 as a target.
-For a more risky trade, you can jump in from these price levels and aim for 1.29310 as a target which is very close to low of 4th wave.
If you are going to decide on second trade setup, i recommend you to use less leverage for a calm trading journey.
(For example 25 or 10 times of leverage)
Stop loss for both trade setups: 1.30900
I hope you enjoyed with my analysis, i wanted to show elliot waves' rules in action.
Please support my account by sharing and liking for more educational ideas.
Thanks and have a nice weekend.
Berk.
GBPUSD short term top in sight?: GU resistance zones on 1h chartJust a quick plot to watch the three zones of interest for possible short entries.
The three zones are in my opinion resistance.
The zone marked with end of Wave (C) is most likely I think.
Barring great news regarding Brexit, I think the bounce is almost done.
Looks like an ABC correction to a down move.
Background:
This is an update to my last short term Idea looking for the dip and bounce
My GU adventure started with a search for top of uptrend around Sept 20th
Then came the big drop, which I caught most of. Then I started looking for bounces to short
After catching a few scalps and a couple big rides down, I was then waiting for a pull back again
During the pullback, I managed to get in a few short scalps but with tight stops
Then, just before NFP, the Pound started getting some good news and showing signs of bullishness so I threw some longs down
Which brings me to the current plan, looking for an ABC correction to end soon
