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Expandingdiagonal

Bitcoin Analyze (Expanding Diagonal)!!!📣I don't know that did you read my previous post about Bitcoin analysis or not !? if YES, please read this post, if NO, first please read my post with the topic '' Bitcoin Analyze (Road Map)!!!🗺️''. In this post, According to my last post about Bitcoin, I tied to analyze Bitcoin in short term. Bitcoin Analyze ( BTCUSDT ) Timeframe 4 min⏰ Bitcoin is moving in Expanding Diagonal for more than 12 days, at the same time it is dancing in range channel. Bitcoin was able to complete its four microwaves on diagonal. I tried to show the end of microwave 5 for this movement on my chart. The end of microwave 5 can end at my TRZ (Time Reversal Zone). 🎯Target Zone for Microwave 5🎯 : 51300$-49820$ If Bitcoin can break the lower line of range channel, then we will be sure about this pattern works. As a result, in the first step, we can concentrate on the range channel in which direction it breaks. in addition, we can use the range channel as our trigger for opening Short position. ❗️Note❗️: if Bitcoin can break the upper line of Expanding digonal= Counting waves will change for the short term. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy , this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like' ✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
by pejman_zwin
8
$EURUSD - Completion of the correctionHi guys! 👋🏻 🔔 EUR/USD is traded inside a downtrend channel. The price action of June 25 has formed an expanding ending diagonal pattern, which is yet to complete its formation. 🔔 4H EUR/USD chart, whereas the RSI is near the oversold level, hence to balance the strength, EUR/USD might retest 1.17700 before it continues to proceed downwards to complete the correction. 🔔 Key support levels to watch herein are $1.16150, $1.15000 and an area between $1.14500 and $1.14200. It is important to note that MA100, MA200 and EMA50 are all above the priceline and act as a strong resistance, most importantly the EMA50 is right at $1.17700 which backs the strength of this resistance. 🔔 Last week, the EU and German economic data were mainly red colored as the actual data released was not the same or above the anticipated. This fact weakens the Euro before the US Dollar, as these data clearly state that the ECB economic projections are inaccurate. Last week’s EU and German PMI data were below the anticipated. 🔔 It is pretty much clear that the end of the correction is not yet confirmed and for the Euro to continue the uptrend the economic data from the EU has to follow the projections of the ECB and EUR/USD must close above the upper edge of the downtrend channel. Until then, EUR/USD is bearish. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Short
by azizelliott
$USDCAD - Different scenariosHi guys! 👋🏻 🔔 FOMC announcements are important today. The most important note expected from the FED Chairman would be announcement of the tapering asset purchases by the FED. The no-clue tapering asset purchases date might play a negative role to the US Dollar Index and since there will be a volatility, USD/CAD may jump to $1.2890 level and retrace to $1.2720 level pushed by the dynamic resistance of previous highs. 🔔 If the announcements are positive and the FOMC economic projection strengthens the confidence of investors in the US Dollar, then we might witness the USD/CAD’s continuation of an uptrend up to $1.29940 and $1.30900 levels, following an expanding diagonal pattern. 🔔 The second scenario looks least likely but indeed should be considered, this might take place if during the FOMC announcement rate hikes are adverted. In this case, in fear of rate hikes, the market might defect the US Dollar and USD/CAD might drop to $1.2580 and $1.2540 levels. 🔔 RSI and MACD indicators on a 4H USD/CAD signal the correction, namely a drop. RSI remains near overbought levels which show a decline when connecting the last three peaks. Key takeaways from the technical analysis are to watch the retest of the dynamic resistance of August 21, if USD/CAD closes above this level, the uptrend continuation will most likely take place with higher impulse. If there is a rejection, USD/CAD will correct to $1.2800 and $1.2720 below that. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
by azizelliott
1
XRP/USD looking incredibly bullish!XRP looks like it's tracing out a fairly rare nested expanding leading diagonal pattern. The first expanding leading diagonal can be seen in blue. The second expanding leading diagonal can be seen in yellow. This pattern may already be complete but could also see a little more movement to the upside -- to $1.50 or so. Next up would be a fairly sizable red wave 2 retrace to somewhere around the $0.50-$0.75 level. This retrace will set up a beautiful 1/2, 1/2 Elliot Wave pattern, meaning the next move will be a strong move to the upside in a very bullish red wave 3. XRP has been lagging behind in this current bull run and it looks as though it may be on the cusp of making up for lost time! **Not financial advice
BITSTAMP:XRPUSDLong
by eggsarepeas
2
XRP is right on track to make a new ATH this year!My last chart's thesis has not changed (). I called for XRP to reach ~$1.50 (when it was at $1) followed by a large retrace back down to the $0.75-$0.50 range which would set up a move toward (and beyond) the previous ATH. In this chart, I'm highlighting the only 3 times the daily RSI has closed below 30 since XRP bottomed in March 2020. The previous 2 occurrences have acted as springs to start an upward trend. I expect this 3rd occurrence to be no different and to act as a signal to let us know the $0.75-$0.50 retrace target has completed. **Not Financial Advice
BITSTAMP:XRPUSDLong
by eggsarepeas
4
EVGN: Leading Expanding Diagonal? Looks attractive to me!A buddy of mine mentioned this when we spoke about "high conviction trades" My HCT is 3D printing. This is his. I took a look and it appears we're setting up for what appears to be a potential 5th wave of a leading diagonal. This in theory if it proves to be right, should kick off the first motive cycle. Right now it looks like it can go either way. If price breaks out bullish thru the current structure I think we will be in for a treat. All in all, seems like a solid play. I'll be looking for buy setups from now till exhaustion is seen on the 5th wave of the cycle. What are your views on EVGN? Solid biotech pick, or a meme stonk? Thanks for looking, and I'm looking forward to others opinions! Trade safely!
NASDAQ:EVGNLong
by adambiers
2
Short term scenario for LTCUSDAn interesting pattern developing on LTCUSD. After a leading diagonal up, we reached the high on the left side of the chart. From that point, we went into a leading contracting diagonal down, followed by a zig-zag back up. The present pattern appears to be an expanding -leading- diagonal of the wave C of this downwards correction. The reason that I label this diagonal as ' leading', is because the first wave is an impulse wave, which is not the right wavecount for an ending diagonal. We should be heading down into the fifth wave of this diagonal now. As a first target, I'm aiming for the area of 38.6 and 38; as the fifth wave must be longer than the third wave, $38,6 is the minimum target, but I expect some heavy resistance at the end of the leading diagonal that kicked this correction off. From there, I expect a correction upwards to the end of wave 4 of the present expanding diagonal before we plunge further downwards into a third wave, et cetera. This is not trading advice. It's the analysis and meandering of somebody who has too much time on their hands.
KRAKEN:LTCUSDShort
by Pvgeldrop
1
NZDUSD DiagonalNZDUSD 4H chart looks like it is completing an Expanding diagonal. Here I'm expecting to see a completion of wave 5 (the last wave before downward movement) what I do not know, is where wave 5 would be exhausted. so I have 2 options on the chart. Option 1: wave 5 could be truncated forming a Thrust. Option 2: wave 5 could unfold up to its full length around price 0.61924. Both options are shown on the chart. Remember as Price Unfolds Market becomes clearer. I AM HAPPY TO CONTRIBUTE TO YOUR DECISION MAKING!
by Teokules
2
S&P500 Expanding Diagonal Mark Douglas on Chart Patterns: We can use all the various tools to analyze the market’s behavior and find the patterns that represent the best edges, and from an analytical perspective, these patterns can appear to be precisely the same in every respect, both mathematically and visually. But, if the consistency of the group of traders who are creating the pattern “now” is different by even one person from the group that created the pattern in the past, then the outcome of the current pattern has the potential to be different from the past pattern.It takes only one trader, somewhere in the world, with a different belief about the future to change the outcome of any particular market pattern and negate the edge that pattern represents. The most fundamental characteristic of the market’s behavior is that each “now moment” market situation, each “now moment” behavior pattern, and each “now moment” edge is always a unique occurrence with its own outcome, independent of all others. Uniqueness implies that anything can happen, either what we know (expect or anticipate), or what we don’t know (or can’t know, unless we had extraordinary perceptual abilities). A constant flow of both known and unknown variables creates a probabilistic environment where we don’t know for certain what will happen next. This last statement may seem quite logical. Why Most Demo Trades result is very much better than "real" money?!"...To be a Consistently Profitable Professional Trader you need to acquire a psychology skill called "Trading without Fear" a carefree state of mind in trading.. In The Zone/In the flow state of mind ..."Mark Douglas :Trading In The Zone : Professionals don't perceive anything about the market as painful; therefore, no threat exists for them. If there's no threat, there's nothing to defend against. As a result, there isn't any reason for their conscious or subconscious defense mechanism to kick in. That's why professionals can see and do things that mystify everyone else. They're in "THE FLOW", because they're perceiving an endless stream of opportunities, and when they're "NOT IN THE FLOW". the very best of the best can recognize that fact and the compensate by either "SCALING BACK" or "NOT TRADING AT ALL"...
SP:SPX
by SteveTan
1
Final push down in Oil is on the waySummer across the board, making all kinds of fake moves possible. Oil is not an exception, having hard times deciding what to do next. Time to focus on a big picture. It looks like on Tuesday, August 1st folks were reestablishing their short positions, which were closed at the end of the month, the day before. Hopefully it was a "technical" move and we will continue a bit higher to 200 Daily MA @ 51.5x December 2017 contract. Overall USOIL appears to be 2-3 days close to start off a final 5th ABC wave of the Expanding Diagonal (5)th of a major C from 2011. 51.2 - 51.5 comes out to be an area of strong confluence, where 200 DMA and trendline sit alongside some harmonics. In case the price will travel above 51.2 - 51.5, 52.6x will become another potential reversal zone. Where 0.618 retracement of wave 1 to 3, 0.786 retracement of wave 3 and end of wave B of 3 converge. Stops should be placed above this area, @ 52.6x. Still the set-up will be violated only above $55 handle. It is pretty common for wave 5 to be truncated following extended 3rd. So my primary target will be $38 per bbl December contract - January 2016 low. More clear targets would be set while the ABC pattern unfolds. p.s. CAD heavily overbought and diverging. Trade safe, control your risk.
NYMEX:CLZ2017Short
by wayusa