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Ending Diagonal

XAUUSD - Ending Diagonal - End Of Correction?Here is a Elliot Wave Triple Three correctional combination which began since the last impulse move reached its peak (1689) in February. The Zigzag pattern you can see between wave X to Z is the final corrective pattern of the three combinations which implies that the correction is coming to an end. Further confluence is provided by the nature in which the final set of waves are forming. They are coming together in an Ending Diagonal. Ending Diagonals are commonly found at the end of a Wave C in a correctional sequence. I see this final wave coming to at least 1650 according to the general guidelines, and then a wick out anywhere down below between the 1650-1630 zone. From there we could see a new yearly high with an initial target of 1787. Further wave extensions are coming in at 1808, 1833 and 1846. This is a long term target (quarterly and biannual) which only serves to provide an indication of the current direction. Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for educational analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
FX:XAUUSDLong
by BeyondEdge
EUR/USD 1 hour chart ending diagonalHello Traders, it look like EUR/USD uptrend is coming an end, price has been rejected several times from march 20 high (Resistance level now) and it also looks like an ending diagonal pattern it's on the way which tipically are formed on wave 5 or waves C . RSI and Stochastic are showing divergence indicating a possible reversal. for this analysis to be valid we will be looking for a break out below ending diagonal pattern support line
Short
by AlexPalmaFXTrader
GBPUSD Elliott Wave | Short | Jeremy WagnerChart on the left suggests we are in wave iv of C (ending diagonal)...one more dip lower to retest today's low to finish off the bearish sequence then we may see a strong rally. The chart on the right is a more traditional impulse and is one wave slower...so two more dips lower to finish off C then a strong rally. Trend lines support a hold below the April 7 low. If you are learning Elliott Wave, I'd appreciate any questions you have so it makes sense for you. Cheers! Jeremy
Short
by JWagnerFXTrader
6
XLM WEEKLY - It made it!XLM took me by surprise this week with a surge to its ending diagonal trend line . Any further upside this week to the 0.764 will likely be a bull trap wick, looking for the final leg down to complete the ending diagonal and then trend reversal. XLM was one of the few major Cryptos to show Bullish divergence on the Weekly before this latest uptrend but is now showing hidden Bearish divergence. Analysis will be blown if we surge to new higher highs from here but 360 view shows global equities and crypto running out of steam in bull trap regions.
KRAKEN:XLMUSDShort
by BrazilNutz
GBPUSD Impulsive wave and correction in the 2h charthi all, We see a clear impulsive price action to the upside out of the EDT (see reference chart / big picture). However, the downward reaction is corrective. The depicted triangle is a good, first indication that we are in a correction. Now price might go a bit more up to wave b and then fall impulsively below wave a. I expect the price to stop at 38,2 % retracement (equals to wave 4 of previous Impulse). If this last wave c is impulsive then this might be a good opp to go long. However, bear in mind the price might retrace also lower. Merakshi
Long
by merakshi
After the coronavirus shock will the next leg come?After a 50% correction, after an A-B-C structure correction, after the breaking an Ending Diagonal I wait for a new low in S&P500. How far will it fall? Who knows? I expect a double bottom at least or more, but the minimum target of 2500 also would serve 3RR. In rising correction, I will search for a short position. Aim, Aim and FIRE! The S&P500 must not move above 2850 if this bearish reversal view is correct! but on the other hand, if the S&P500 would go above 2850 even I do not expect to see it above 2900!
FX:SPX500Short
by MoodandMarkets
2
Bearish ending diagonal confirmed, target 5800This downward move is enough to change my intraday and swing trading bias to short. Chart is same as previous with target around 5800 in the green buy zone box. I actually am long term bullish on this and ultimately looking to buy if it squeezes in that box. However that probably won't be for a few days if not a few weeks. The lower bollinger band will be both an exit area for shorts and entry area for long term buys. I am not opening an actual short trade here yet but will be scalping in that direction and probably not updating TV with every trade I do. This is just a note of my bias.
BITSTAMP:BTCUSDShort
by mljones
8
Case for bearish ending diagonalI have my doubts about the recent bullishness. It's hard to make the case that this is a perfectly flat top triangle which would be bullish. Overall the top of the triangle has been getting nudged upward as it fills in which means there isn't necessarily a huge chunk of buy stops waiting above it to explode upward when it breaks the top of the triangle. Instead the stops get cleared out gradually each time it makes a new high. However on the down side all the sell stops have been accumulating on the lower swings and this creates the bearish ending diagonal triangle shape. I will probably scalp long on the short term but am treating it only as a capitulation 5th wave. I think there's a pretty good chance that it will drop lower. Basically retesting the x point around 5800 would make the price action look healthier for a move upward. I actually have a small scalp long from a trade earlier today which I have mostly scaled out of and am letting the final portion run but I don't think this particular trade is the one that's going to the moon.
BITSTAMP:BTCUSD
by mljones