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Harmonicelliottwaves

eurusd short The following text contains the reasons for the falEurusd It is declining until it creates a positive divergence. Also, when wave b is shallow from 1, it is not possible for wave 2 to be shallow its Harmonic Eliot Waves So the reasons for the fall: 1- Creating bullish divergence in 4-hour timeframe. 2-Harmonic Eliot Waves says we need a deeper correction 3-Classically, the uptrend occurred with the weekly resistance and also the uptrend line was broken. Therefore, the most reliable support that can prevent the fall is the weekly support, in the range 1.18800-1.18500 4-The last candle of the day cast a long shadow on its high resistance , Which indicates a failed test to climb as well as a failure to start the ascent If you agree with me and it was useful to you, do not forget to like and support. Good luck
Short
by sabbaghzade69
1
OMGUSD Trade setupHello everyone, I know this is different from my usual style of trading, but I figured that since I am doing so well in the stock and currency markets, I would like to test my skills in the Crypto markets, A.K.A the wild west. Fun fact, crypto is what brought my into technical analysis, so it holds a special place in my heart, but it has been a year since I've touched it so forgive me if I'm a little out of sync with the market. Elliottwave analysis: I strongly believe that we are in the last wave of a 5 wave move to the downside. As you can see from my chart, we have made a very impulsive move to the downside, the wave three rebounding almost perfectly off of the 1.63. This perfect rebound is something to take note of for future charting. I am curious to see if crypto will bounce off of the technical resistances a lot more accurately than a stock. In addition to this, we are contained in a BEAUTIFUL channel. I am aiming for the 2.0 extension of the wave 1 which is conveniently the 0.5 extension of the waves 1-3-4. Moving average analysis: On the thirty minute, take notice of how the 4th wave seems to have bounced hard off of the 200ema. This leads me to believe that we are still not done our move to the downside, and it likely marks the end of the wave 4. In addition, take into account how on the 30 minute, the 55 ema is crossing over the 200 ema, which is a huge bearish sign. Macd analysis: The macd is really testing me for this trade. I can see that on the one hour, although it hasn't crossed their is some bullish divergence on the histogram, indicating a cross might be on its way. Although, I strongly trust my wave count for this coin, and that we will see a rebound off of the 14 moving average for the macd. RSI analysis: The RSI isn't telling me a bearish or a bullish story. Right now it is in bearish territory, but there is nothing that screams bearish. Judging by the 45 minute, I think that we will see the fifth wave down, but this will show us some bullish divergence, meaning that the rsi probably won't go below the previous low. If the divergence does appear as we hit the wave 5, I immediately recommend taking a position to the top side. All in all, the trade setup is as mentioned: Target: 3.6069 Stop loss: 3.81 R:R is 3.04!!!
BITFINEX:OMGUSDShort
by Mika_k
AUDCAD Trade setup short termHello everyone, I am going to keep this short and sweet because my last posts have kept getting banned. I apologize for my absence, but I am hopefully going to be posting more often now. Elliott wave analysis: It looks like we have just started our wave 5 of a greater decline, maybe some sort of wave C? I am not sure, I have not look at the larger structure too much. But for now, let's work with the trade opportunity available to us. The reason why I think that we have started the wave 5, is because we have just finished an a.b.c wave 4, that ends around the end of the wave b in the wave 3, which is a really strong support in harmonic elliott wave theory, that shows this is infact a wave 4. The target is the 2.618 of the wave 1 and the 0.618 of the wave 1-3-4, which is around the same place. Depending on your risk tolerance, the stop loss can be the prior swing high/ end of wave 4, or the most recent high. I am stopping at the most recent high, because I am not planning on risking too much on this trade. Moving average analysis: The 200 ema rejection on the 15 minute is giving me HUGE bearish vibes. Not only does it reinforce the fact that wave 4 has ended, it also tells us that there is a lot of bearish momentum still. In addition to this, on the one hour, we have seen that the 55ema has crossed over the 200ema which is an incredibly bearish sign. RSI analysis: On smaller timeframes such as the 15, 30 and 40 minute, we can see that we have rebounded off of a strong rsi support and are headed back downwards. I have drawn on the rsi, what I think the move will look like. I suspect that we will see a rebound from the oversold zone, that will indicate the end of the wave 5 with strong bullish divergence. On smaller timeframes such as the 2 hour and the one hour, we can see that we have seem lower highs and are trending back downwards again. Macd analysis: The macd worries me quite a bit. On the 1 hour, we can see that we have a cross on the negative side, which is not something we want to see when we are headed lower, but on a smaller time frame, for example the 30 minute, we can see that the Macd has rebounded off of the zero line and we see bearishly diverging rsi. This hints to me that we will be seeing lower price action and perhaps a cross on the macd of a higher timeframe. All in all, we are headed downwards. The target is the 2.414-2.618 area, and the stop loss is either the end of wave 4, or the previous high.
Short
by Mika_k
AUD/CHF quick trade opportunityHey everyone, just here for a quick trade opportunity on AUD/CHF. This is a really short and quick analysis, so act fast. Elliottwave analysis: It appears that we are stuck in some sort of triangle. we have just finished our wave C and are about to start the wave D to the upper boundary. For the target, I will be using the upper boundary line, and for the stop loss I will be using the lower boundary line. RSI analysis: The bullish divergence on the 1 hour RSI is telling me that we have most likely hit the bottom for the wave C and we are headed up to make the wave D. MACD analysis: The MACD analysis for the one hour is also telling me a similar story as the one hour RSI. we are seeing bullish divergence, and in addition to this, we have literally JUST seen a cross and are headed towards the positive side. Something interesting I have found, is that on the one hour macd, we have formed a triangle. I don't know the significance of this, besides the fact that if we break out of the upper boundaries, we are headed pretty far up. All in all, I would consider taking this trade. It presents a 4.4:1 risk to reward. The trade setup is as follows: Target 1: 0.6655 Stoploss: 0.64956 I might consider getting out once I have secured a 2% profit, but I will let you guys know. I am not a fan of holding positions for very long, but for now this is my trading plan.
Long
by Mika_k
1