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Elliotwavescount

🌊 Elliot Wave Cheatsheet📍 What Is Elliott Wave Theory? In technical analysis, the Elliott Wave theory is the analysis of long-term trends in price patterns and how they correspond with investor psychology. These price patterns, referred to as ‘waves’, are built on specific rules that were developed by Ralph Nelson Elliott in the 1930s. Specifically, they were designed to identify and predict wave patterns within stock markets. Importantly these patterns are not intended to be certain, but instead provide probable outcomes for future price movements. 📍 How Do Elliott Waves Work? Within Elliott Wave theory, there are different forms of waves, or price formations, from which investors can glean insight. Impulse waves, for example, include both an upward or downward trend that carries five sub-waves that may last hours or even decades. They possess three rules: the second wave cannot retrace more than 100% of the first wave; the third wave cannot be shorter than wave one, three, and five; wave four cannot surpass the third wave ever. Along with impulse waves, there are corrective waves, which fall in patterns of three. 📍 Impulse Wave The impulse wave in Elliott Wave Theory is the wave that pushes the prices in the same direction as the trend at one larger degree. It’s the action wave. While the corrective wave is the reaction to the first wave. Therefore, the corrective wave moves in the opposite direction of the main trend. The impulse wave is composed of 5 waves according to certain conditions & rules. Impulse waves are always composed of five waves, labeled 1,2,3,4,5. Waves 1,3 & 5 are in the direction of the main trend. Whereas, waves 2 & 4 are in the opposite direction 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
Bitcoin about to start its next bullish impulseGood Sunday everyone, Bitcoin is currently sitting on my zone of interest. As you can see price managed to hit the extension target of 1.618 for wave C. This is the deepest possible target a wave C can extend. If we extend further of break the previous low, this count is invalidated. However, I think that we are in a bullish wave 3 extension, which explains why the inner wave 2 has retraced that deep. I'm buying. This is no financial advice, for further information please see below. RT
COINBASE:BTCUSDLong
by RT_Trading_
21/10/07 - XAUUSD (Gold) Is In Flat Correction - By RT_Trading_Hello Trader, I'm happy to provide you with a new Idea based on XAUUSD (Gold) . Our last Analysis and forecasts had an accuracy of around 90% . We are very proud of our work so far. We also want to say thank you for the amazing feedback we got from your side. I can only repeat myself: Feel free to write us a personal message if you have any questions according to your trading and your possible trading improvements. We will help you where we can. That said, what is Gold doing next? By giving it a closer look on 15 minute timeframe, it looks like Gold has done building up its first impulsive wave that is made out of 1-5 wave in which wave 5 is an ending diagonal . After such a diagonal, a correction is the consequence. Since Gold is becoming very bullish we made a new high within this correction. This brings me to the conclusion that it can only be a flat pattern in which wave B exceeds the beginning point of wave a . Most traders would see this as a ''breakout'' and would start longing based on this PA. Nonetheless, we know how Banks play and we always are one step ahead. We engaged our Short entries at the top of wave B on the 124% Fibonacci Extension . Our RR will be amazing. Since a Flat can't exceed 124% we are allowed to easily get an invalidation area - this on the other hand allows us to play this short with a super tight stop - that means if we win our reward will be huge in comparison to our risk. If this Analysis fails (because you can never know if you are right or wrong), our loss will be minimized and we won't endanger our profits we made this week. That said, we wish ya'll the best of luck and a profitable day. This is no financial advise, RL from RT_Trading_
OANDA:XAUUSDShort
by RT_Trading_
10
GOLD (XAUUSD) 17/06/2021 Still Looking To The UpsideHere is my continuation analysis of Gold (XAUUSD). Same as GBPUSD, Gold (XAUUSD) also got a massive setback moving approximately 600 pips yesterday. In my opinion Gold (XAUUSD) still aiming for the upside. Yesterday's drop for me still only for a retracement before going higher. As I can see Gold (XAUUSD) retesting the daily downtrend channel. And in my waves counts, Gold (XAUUSD) is ready to make the journey to the upside for completing the waves. My closest target is the 1860-1865 area. Disclaimer: This is my personal trading setup !! Please use this only for comparison with your own analysis. Share your thoughts or ideas in the comment section below and give support by giving like thumbs and sharing with your friends. Cheers.
TVC:GOLDLong
by ArceeBlade
GOLD (XAUUSD) 14/06/2021 Beginning To RiseHere is my continuation analysis of GOLD (XAUUSD). On my last analysis of GOLD (XAUUSD), I was expecting that GOLD (XAUUSD) will do retracement until at least 1861-168 area. Unfortunately GOLD (XAUUSD) reached only until 1869 area and after that rising again to the upside. Last Friday, GOLD (XAUUSD) drop again until the 1875 area. But this time I believe it was just retracement for going higher. Next week, I believe GOLD (XAUUSD) will continue to the upside again with the closest target 1900-1910 area, but my target is GOLD (XAUUSD) completing subwaves 5 and reaches the 1952-1962 area. Disclaimer: This is my personal trading setup !! Please use this only for comparison with your own analysis. Share your thoughts or ideas in the comment section below and give support by giving like thumbs and sharing with your friends. Cheers.
TVC:GOLDLong
by ArceeBlade
GOLD (XAUUSD) 07/06/2021 Moving In Retracement PhaseHere is my continuation analysis of GOLD (XAUUSD). Last week we saw Gold raised from our buy area to 1916 and then falling hard breaking below 1880 and reached the 1855 area which indicates that GOLD (XAUUSD) right now in the retracement phase from subwaves 3 to subwaves 4. For next week, I still considering GOLD (XAUUSD) move in retracement channel before going to the upside again. I am projecting that this retracement phase will end when GOLD (XAUUSD) reaches 1834 - 1845 areas. This analysis will be invalid once GOLD (XAUUSD) breaks below the 1820 area. Disclaimer: This is my personal trading setup !! Please use this only for comparison with your own analysis. Share your thoughts or ideas in the comment section below and give support by giving like thumbs and sharing with your friends. Cheers.
TVC:GOLDShort
by ArceeBlade
GBPUSD 07/06/2021 GBPUSD Fall For RetracementHere is my continuation analysis of GBPUSD. Last week GBPUSD was unable to maintain moving inside the 4H channel uptrend. After breaking below that uptrend channel I recalculated again the waves count. I found that GBPUSD last week completed the ending diagonal channel. With that said, I believe GBPUSD still has pressure to go to the downside for doing some retracement before going to the upside again. Last Friday as we can see, GBPUSD retested that ending diagonal and then formed a shooting star candle, which indicates that GBPUSD will continue to the downside before going to the upside again. My projection area for potential reversal area around 1.4010-30 area and also 1.3970-1.3980. Disclaimer: This is my personal trading setup !! Please use this only for comparison with your own analysis. Share your thoughts or ideas in the comment section below and give support by giving like thumbs and sharing with your friends. Cheers.
Short
by ArceeBlade
9
GOLD (XAUUSD) 31/05/2021 Correction for Go HigherHere is my continuation analysis of GOLD (XAUUSD). Last week, GOLD reached 1912 Gold going down to 1882, and then closed above 1900 last Friday. This indicates to me that GOLD still has the power to continue the movement to the upside. For today, I expect that GOLD will do retracement first before continuing to the upside. For now, I believe GOLD will aiming the 1935-1938 area. I will also give my daily timeframe Elliot waves count below. Disclaimer: This is my personal trading setup !! Please use this only for comparison with your own analysis. Share your thoughts or ideas in the comment section below and give support by giving like thumbs and sharing with your friends. Cheers.
TVC:GOLD
by ArceeBlade
2
NASDAQ to outperform the SPX to the downside in the coming crashThese charts show the 3 months and the hourly charts of the RATIO of NDX (NASDAQ100 CASH) to the SPX (S&P500 CASH). It is no surprise the ratio has been rising since the dot-com crash lows and now have reached valuation levels of NASDAQ compared to S&P not seen in March 2000. The chart on the left and the pink dotted horizontal line shows a comparison of this ratio in the highs just prior to the Dot.com crash that started in March 2000 to what is happening now. The ratio slightly exceeded the dot.com crash highs but since has violently been rejected and forming a monthly, 3 monthly candle shooting Shooting Star pattern which is not yet technically valid as the candle has yet to close but looking like it will hold based on the leading diagonal 5-wave drop (hourly chart on the right) which indicates a trend reversal down at least for the short to medium term. There is certainly a rotation happening out of tech now. How long this holds remains to be seen but these charts show that this could be just the beginning - especially if compared to the dot-com highs and what happened in the 2-years after the dot-com highs. Cheers! Cyrus
TVC:NDQShort
by cyrusgr8
3
GSX - Impulse Almost CompleteGSX has had a run that has seemingly defied logic to some bearish investors, but the overall move it made after clearing the previous ATH was relatively healthy. Despite a massive bear campaign a few months back the stock has churned to massive new highs. However, all good (or bad if you're a bear) things come to an end. It is now due for a correction, and will likely find a topping point around the 71.21 level. This leaves the ideal opportunity for shorting. Impulse price point (top): $70-$71.21 Overall corrective target: $49.14
GShort
by ericisom887
5
BNB can reach $100 in this summer. Mid-term prediction.BINANCE:BNBUSDT BNB is a strong coin, supported by world's biggest exchange - Binance. BNB entered a massively gaining on 1st quarter of the year 2019 due to lots of good news related to Binance exchange, such as IEO releasing, a lauching of new binance chain and a new dex (decentralized exchange). The rise of BNB recalls me the BTC bull run in last December 2017, that made BTC's price reached it top high near $20000. BNB has more room to go hard this year, we can say 2019 is the year of BNB, and will see it break all last records. From my EW (Elliott Waves) count, BNB entered first leading diagonal impulse wave between the last month of 2018 and 2 first months of 2019. The 2nd wave lasting only 1 week in the end of this Feb.. Till now BNBUSDT is running to the end of third wave, it broke last top high (at $25 - $27) and may have a leg up to $42. Due to quick 2nd wave correction, the 4th wave will form a zig zag pattern, this wave is highly likely ended at 61.8% correction of 3rd wave ($18.8), estimation time for this correction is 1 month. Last impulse wave of BNB bull run in this year will start at the earlier of this summer, with final target for BNB is at $105 (related to Fib. extension 4.236 level). We can go long at this price to $42 then short followed the correction, and open another long at around $20 to catch the fifth wave.
Long
by Batrachotoxin
2