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)
Elliotwavecount
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
GBP/NZDGN rejected pitchfork as it broke 1.236 extension of a potential WXY pattern for a "B" wave. It either did a contracted flat for more upside or it is still in corrective structure. By looking at the divergence and 2 shark fins on the weekly, I feel like we can get some downside. The move it has been making up is a corrective move (all waves overlapping, following a long move down). There is some very large downside coming on this pair, but it can push up further in structure if it wanted to. I would prefer to wee it make a wick out of fork and 1.236 extension considering this last wave, but I will begin looking for sell setups on it, as GN is in the position in the wave count that a "C" wave can come from. A "C" wave can either finish out a correction for a continued trend or is a reversal wave. GN can keep chopping up, can even shoot up, but that won't change the fact that a drop is coming at some point, potentially to break the low even, creating a large weekly corrective structure. But like NU, I would like to see a smaller correction to confirm it is ready.
XAU Macro Elliott Wave analysis. Is the correction finally over?FX_IDC:XAUUSD
OANDA:XAUUSD
FOREXCOM:XAUUSD
IMHO there is a very distinct possibility that XAUUSD has completed a full triple combo corrective sequence: Triangle + Zig Zag + flat.
The upwards move the last couple days has a distinctly impulsive feel to it, with the bulls very much in control. I am very much looking forward to discovering whether this is the start of a bullish impulse or more corrective wave nonsense.
In other news, I'm seeing quite a few toppy patterns in multiple stock indices - both US and international. The NASDAQ in particular looks quite disgusting on the daily - 3 giant bear spikes sticking up out of a rounded top. To me, it seems only natural that the start of a bullish impulse in gold might coincide with a corrective reversal in the stock markets.
Thoughts?
ETH - watch this breakout for a long to 270$ETH is doing more complex corrrective pattern.
Its consolidating right now after making impulsive move up so would be expecting another leg to retest the previous highs atleast.
SPX 500 - Running flat or Expanding Flat in the making SPX 500 is currently correcting, since we broke the top there can only be 2 possibilities for this correction - either a running flat or expanding flat depending on whether C wave breaks the A wave low or not.
Short the breakout for nice short setup SPX. Expect this move to be swift very similar to one we got towards the beginning of the yr.
AMD - Correcting before next impulse up. AMD is currently in correction. Watch out for some kind of flat type correction here seems most probable from the looks of right now before it breaks up to make the next impulsive leg.
BTC - short setup BTC broke down and formed a 3 wave corrective structure.
Good short setup for a test of 6000 ranges.
ETH - short setupETH has been making consolidation / flag for another short setup.
Short the breakout of this corrective.
It can break down from here or make another impulse then breakdown.
TLRY - Don't short now. Long the breakout for a bounce!TLRY saw a massive dump after completion of wave 3.
TLRY is completing A leg of the ABC correction. Watch for a breakout for long opportunity on the bounce.
ETH - short the breakoutETH is also forming corrective 3 wave structure.
Its basically moving sideways we made just slight higher high but overall picture is still the same.
CGC - Short for the big incoming correction.CGC has completed 5 waves up on the weekly chart. Get ready for a big long ABC correction down to around $22-$25.
APPL - short the breakdown to 214-216$Watch and wait for breakout for short opportunity to around 214-216$ to complete the corrective structure.
ETH - Major Dump before the big PumpETH very similar to BTC has completed a corrective pattern - expanded flat.
It broke the low and the broke the high of wave A making this an expanded flat.
Since it formed a corrective pattern instead of making a new impulse, should expect another wave down before any kind of reversal in Ethereum and rest of the crypto market altcoins.
ETC - Short the breakdown to $8ETC formed a running flat and broke down presenting with a short opportunity down to $8.
BTC and ETH looking weak atm too. Very likely to see new lows on ETC as well.
TWTR - Long the breakout for bounce!TWTR completed the A wave of ABC correction for wave 4.
Long the break out to target around 0.5 fib level.
ICX - Good buy between $0.2- 0.3$ ICX has been in a pretty strong downtrend. It made a corrective 3 wave down up instead of 5 wave impulse up that would suggest that it has another leg down before short term trend reversal.
ETH is also weak and will make another leg down. ( very good indicator of health of alt markets )
Planning to buy between 0.2-0.3$ for best to risk to reward setup on ICX.
EOS - complete cycle count EOS has completed a 5 wave impulsive cycle and we are big weekly corrective trend from the genesis since it got added on Bitfinex.
EOS is about to complete the first leg in its corrective cycle to make the W leg of the WXY double zig zag at around $3.
Following which it will bounce up to make the X wave before making the final Y wave down which will take us to bottom.
BTCUSD Bull Run? Elliot Wave & Schiff Pitchfork 2014 & 2018Intro: Light at the end of the accumulation tunnel. Why a BULL Run is possible when comparing 2014 & 2018 Elliot Wave ABC Corrections and Schiff Pitchforks:
1) W correction is about a 70% price drop in both 2014 & 2018.
2) Both Y corrections extend to the 0.786 Fib Level.
3) A correction retraces to mean in the Pitchfork.
4) B correction extends to about the 1.5 Pitchfork line.
5) C correction retests the 0.5 Pitchfork line.
6) Current correction has touched the WARNING line (2.0 Pitchfork extension in a red dash line) and found support back in the 1.5 Pitchfork line.
Disclaimer: This is not advice but any trade entries at this point carry low risk and high reward if 2014 correction were to repeat itself.
Support: Comment & like if you agree or disagree. This is a learning community and feedback is always welcomed for my own learning curve.
BTCUSD: Elliot Wave 2014 vs 2018, The Case for the Bulls!!!Intro: By now you should be sick of the 2014 vs 2018 BTC comparisons BUT there are uncanny parallels between these two corrections regarding their ABC corrections and the Fibonacci Extensions. Here's what I'm seeing:
1) Three Lower Lows in 2014 and 2018 create our A correction (Zig-Zag Pattern).
2) The A correction DROPS about 70% in both 2014 and 2018.
3) Both C waves have a 0.786 Fibonacci extension.
4) A symmetrical triangle formation develops after the ABC correction to the downside.
5) An ABC correction forms to the upside.
6) The C Correction to the upside COULD reach the 1.618 in 2018 just like it did in 2014.
What Invalidates this analysis? A drop below the 2018 low ($5774.72 on Bitstamp).
Disclaimer: This is not advice. Entering a trade at this moment presents a massive reward and a low risk if the C wave extends to 1.618 Fib number and we hold the 2018 low. Even better, reaching the 1.618 fib extension means higher highs and a confirmation of a reversal.
Please comment and like: This is a learning community and your comments or questions make a difference.
BITSTAMP:BTCUSD
Take a look at my Gann Fan Analysis:
