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Harmonicelliottwave

GBPUSD: Ending Diagonal Breakout Triggers Bearish correctionThe GBPUSD currency pair has initiated a downward corrective movement subsequent to breaking out from the ending diagonal pattern during the Asian session today. Currently, the pair is in the first wave (a) of the correction phase and is anticipated to conclude around the 1.24650 area. Following the completion of the wave (a), we expect a rally to form the wave (b) in the 1.25800 region (provided we have a zig-zag correction pattern), before an impulsive drop in the wave (c) to the 1.24000 region. My analysis suggests a slight upward rally in the pair towards the 1.25600 region before establishing a short position. Overall, my outlook predicts that GBPUSD will experience a decline towards the 1.24000 area in the forthcoming days, provided my analysis is correct.
Short
by Samuel124
Review of the Eurusd (signal and education)hi kids . This chart shows the entire descending path and the end of the fall Also, the analysis that has been done on the euro since the beginning of the fall is below the post. All predictions by the fundamental method. Classic and explore the waves In this chart you can see that the end of the growth of the euro was predicted at the peak In this chart, in the classic review, it was stated that if the canal floor is broken, at least to what point will the price fall continue? Classic reasons were also updated in this chart Finally, in this analysis, the reasons for the need for a complete function from the point of view of wave study were stated Good luck
Short
by sabbaghzade69
SPX ALL TIME HIGHSHey everyone, I'm back with another spy ta. If you got in my last one, I hope you are enjoying all of your profits, and if you didn't, don't worry about it, you can get in on this one;). The play is as follows. We have just finished the 4th wave of the greater movement. The reason why I don't think we are going any lower is because the wave two retraced very deep, meaning that if we follow the guideline of alternation, we can assume that the wave 4 will not retrace as deep. I think that we will see the wave 5 hitting atleast 3600, but I expect it to hit around 3654 to maybe even the 3700 range. I hope this trade brings you some inside into the market during these uncertain times, and we'll be in touch again soon.
TVC:SPXLong
by Mika_k
Teck long opportunityHello everyone, we are back with yet another technical analysis. I hope you guys have enjoyed the past week, whether it be trading crypto, stocks, or currencies. The technical analysis today will be centered around the idea of TECK hitting 17.09. Elliottwave analysis: My elliott wave analysis is kinda cluttered, some I'll try my best to break it down for you. The move to the 17.09 mark, I believe will be the wave 5, of the wave C, or the greater wave 3. The reason why I don't believe this will be the wave 5 of the greater trend, is because then we would have to assume that the wave C ended at the 15.70 range, which wouldn't make much sense since there are no fibonacci ratios there. Instead, I see this as the 3rd wave of the wave c, the retracement being the 4th wave of the wave C, and this next move up being the 5th wave of the wave C. Taking a projection from the start of the wave c, to the wave 3 top, to the wave 4 bottom, we can anticipate the wave 5 hitting the 0.8 fib range, which is around 17.50$. A break below the recent swing low is a bad sign and would mean I am wrong. On the 1 hour chart, we can see some bullishly diverging rsi and macd, meanig the we are probably going to being the 5th wave sometime soon. Keep in mind that this trade might take a couple of weeks to be completed, so position yourself accordingly. I wish you all the best this trading week, and have a great day.
NYSE:TECKLong
by Mika_k
Link USD trading idea and Getting out of trading slump tipspHello everyone. We are back with another cryptocurrency, technical analysis, this one featuring Link. If you can tell by my lack of blog posts, I haven't been in the "Zone" recently. I have been looking at charts, completely unsure of what is happening. There are so many possible wave counts that start flowing through my head, and I lose track of everything around me. Fun fact, this whole day, I have been crippled by my inability to figure out what is happening in the S&P500 and with bitcoin. After forcing myself away from the computer for a couple hours, and coming back later in the day, I realized that when I am confused, I just have to count the waves as precisely as I can. I got so used to clear and clean wave counts, that now, when things don't seem so clear, I am confused. I am confident now, that if I stick looking at the exact waves, I'll have a better time understanding why certain moves are happening. So this is hope for all of you out there. If you ever feel lost, just go back to the basics and the rules of what you know. Anyway, enough with the pep talk, let's get into the analysis. Elliottwave analysis: What are we seeing? On the 2 hour time frame, we are able to get a good bird's eye view of the past couple of days. We can see that we have completed an impulsive wave to the upside, and we are about to start the wave c down to the 0.5 area. I think that we have finished the wave B, because we have bounced off of the 0.618 retracement of the wave A, which is a good target for the end of the wave B, and we have also completed all three waves for wave B, with the A and C matching almost exactly 1:1. The reason I am targeting the 0.5 retracement of the larger wave, is because it is the wave 4 low and will provide a strong support for us. The stop loss I have set is the 11.4247 range. Other confounding factors include a very bullishly diverging macd.( we can see that the wave 3 and 5 have had much higher highs on the price action, and much lower highs on the RSI. In addition to this, the macd is looking QUITE bearish, showing us two lower peaks, and a histogram that is getting higher highs on the downside. All in all, I hope you can find some information and some profits from this trade. Until next time, happy trading, and enjoy the rest of your week.
BITFINEX:LINKUSDShort
by Mika_k
DOTUSD trading opportunityHey everyone, I hope this finds you well. Crypto has been going nuts lately, and it sucks that I haven't had much time to cover it. School is crazy right now and trying to manage school, work and trading is tricky. Anyway, let's get right into the t.a Elliottwave Analysis: Right now, it seems that we are building some sort of impulse wave upwards. We have seen everything but the 5th wave. The wave two was deep, and the wave 4 was very shallow, meaning the guideline of alternation has been followed properly. In addition to this, since the wave 4 was so shallow, we can assume that there is a lot of bullish momentum at the moment. The target for the 5th wave is the 4.6507 price. This is a huge fibonacci cluster, the 0.618 of the wave 5 of the impulse, and the 3.618 extension of the wave one. In addition to this, it is also the wave b of the larger impulsive wave's wave 3. Whether we are going much higher, I am not sure, but I think that for now, this is a good target. My goal with my technical analysis at the moment is to really look at the greater structure unfolding. Elliottwave is all about confirmation between signals and wave counts, so if I can find a count that matches with the greater trend, it will be even stronger. RSI analysis: on the 6 hour, we can see that the rsi is making a 5 wave move up. It is looking incredibly bullish and I think that this is a great sign for the longer term. Another important thing to notice is that in the longer term, there is bullishly diverging rsi. Longer term macd analysis: Something interesting to pay attention to, is the bullishly diverging macd. I think that we are going to be seeing something big. I really do. We have, on a large time frame, seen the bullish momentum building, and I believe we are going to go somewhere with it. All in all, I think there is a lot of potential with crypto right now, so buckle your seat belts and enjoy the ride guys. If you have any questions, let me know. Have a good night.
BITFINEX:DOTUSDLong
by Mika_k
Bitcoin idea/ trading opportunity (Important) HELLLO Everyone. I am writing to you today to let you know of a beautiful trade opportunity. It sucks that my link play didn't turn out to be right, but it makes sense since bitcoin wasn't acting right. I remember Jessie livermore once mentioned in "how to trade in stocks" that it is essential that things act right. I still don't know exactly what that means, but I am pretty sure that it has something to do with things making sense. Bitcoin wasn't making any highs, and had a longer term bearish outlook, meaning that link and omg aren't going to go up just yet, since both of these things are correlated to bitcoin. Elliottwave analysis: The elliottwave analysis for bitcoin, is as shown. First off, we have just finished a 5 wave move to the upside, that helped us to break out of the triangle. We fell down, only to be supported by the upper barrier of the triangle, but the bulls definetly didn't have enough steam to take us higher, and there was no way, that a move that took almost y moonths to be completed, will be over in less than a month. To me, it looks like we still have some ways to correct. Maybe we will see a bullish december like the good old days, but who knows. All I know is that october is spooky season, and it is especially spooky since we are going to be trading a correction for sometime in bitcoin, and corrections aren't fun. Anyway, coming down from our high on august 17th, we have completed 4 waves out of a greater 5 wave move. Why do I think this is an impulse down and not a combination? well, assuming my count is correct, we are targeting the 0.386 retracement, which is not deep enough to even entertain the idea that we are seeing some sort of complex correction. In addition to this, if you check the fibonacci extensions of the first wave, the wave 3 is hit almost exactly, and the wave 4 never goes into wave 2 territory which hints to me that this is an impulsive wave down, of a greater move. The target for the wave 5 is the 0.386 retracement of the greater wave, and the 2 extension of the wave 1. Another reason that supports the idea that we are in an impulsive move down, is that if we are, we are in alignment with the rules of alternation. We can see that the wave 2 is short and and deep, whereas this wave 4, although kind of deep, is still really long. I hypothesize that right now we are just ending the 4th wave of a greater triangle, meaning that a break of the 10850 wave E high, and I am out of the trade. Altogether this trade presents us with a 4.49 risk to reward which is reallllly nice. Anyway, I wish you all the best and I hope you have a great day. Enjoy the last couple trading days of the week and I'll see you soon.
BITFINEX:BTCUSDShort
by Mika_k
AUD HKD Trade opportunityHello everyone, we are back with another blog post, this one, being at a completely reasonable time for once. It is a beautiful Saturday and I look forward to charting quite a bit as a way to prepare for this coming week. I have a feeling that these next couple of weeks are going to be quite exciting, but only time will tell! Elliott wave analysis: It appears to me, that we have just finished a wave a, and wave B, and are looking to start the wave c of a move upwards. On the larger time frame, we have just retraced from a major peak and are probably looking to visit the 0.8 retracement of this drop. As a result, the target for wave c is the 2.0 extension of wave one, which is 5.71842, and the stop loss is right under the most recent low. Macd analysis: The macd isn't telling me too much right now, besides the fact that on the larger time frames, we have entered the positive zone. On the 3 hour we appear to be just hovering above the zero line, which means many things can occur. We can completely jump up, or we could cross back downwards. On the price action will confirm either of these ideas, but I do have a stronger sensation we are headed to the upside. RSI analysis: The RSI on the 3 hours is telling me that a breakout above the rsi resistance is possible. This is because we have bounced off of the resistance 3 times, but most recently we have bounced off of the RSI support. This tells me that the support is even stronger than all the bearish momentum that has built up from the resistance. In purple you can find what I expect to happen with the RSI. All in all I think that we are headed quite a ways up. The risk to reward for this trade is also quite beautiful. We have a 2.6, which means this is definitely a trade I will take. Anyway, enjoy the rest of your day and goodluck trading this week.
Long
by Mika_k