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Impulse

Ethereum Is In A Correction Within UptrendEthereum is making sharp recovery since the beginning of the year, which we see it forming a five-wave bullish impulse. The main reason for a five-wave rally is impresive recovery through the channel falling trendline, and also a push out of a base channel connected from the lows. Normally when an upper line of a bullish channel is broken, then we know that the move is accelerating and normally this occurs in wave three. Wave three is typically the strongest when compared to waves 1 and 5, so we can expect more gains untill all five waves are in place. Notice that recently, the price slowed down at 1675 horizontal resistance, so we think that was wave 3 high. Therefore, after the current wave 4 corrective slow down we will expect more upside; it can be straight up form here or possibly after a bullish triangle or maybe even flat correction. In both cases we think that 1675 can be broken, and that support is at 1500 - 1450 area. The invalidation is at 1352; as long that holds, ETH can go higher. Happy trading! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BITSTAMP:ETHUSDLong
by ew-forecast
1
BTC - Fishing Time? 🌊Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on Daily: right chart BTC is currently sitting in the middle of nowhere! between our 21,000 support and 25,000 resistance. Sometimes, no action at all, is also an action. 🧘‍♂️ No Trade, Is Also A Trade! Especially that the weekend is approaching, is it fishing time? on H4: left chart BTC is stuck inside a range again. 🏹 For the bulls to take over, for one more impulse till the 25k resistance zone, we need a break above the red high. ⚔️ For the bears to take over, for a correction till the 21k support zone, we need a break below the orange low. Which scenario do you think is more likely to happen? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
18
EURSGD - W patternHello traders! We can spot a similar formation on EURSGD as on EURJPY, about which I discussed in my previous post, and which has already reached the take profit. EURSGD also seems to create a strong impulse downwards, completing to the neckline the W that was formed on the daily timeframe . We can see that the MACD is below 0 and EMAs are crossed, showing us a bearish environment. From here, there is a high probability of reaching the neckline of the daily W, going to at least at 1.425 OANDA:EURSGD FOREXCOM:EURSGD
Short
by m_maia14
1
EURUSD Moving Into A Fifth Wave Ahead of PowellMarkets are not moving much. They slowed down after some dollar weakness over the last two trading days. We see US stocks coming down from resistance ahead of Powell today, so it appears that investors are waiting on more details before they may position themselves for a breakout. Will Powell be hawkish or more neutral with comments is the question. I think he may not give us any real bias yet, ahead of US CPI data this Thursday. From an Elliott wave perspective, we see EURUSD coming higher after a nice pullback to 1.05 in the last few weeks, as we in past updates. A sharp and strong recovery l suggests that correction is finished and fifth wave in play. The ideal upward projection for a fifth wave is at 1.0850 so upside can be limited this month. Be aware of a correction.
by ew-forecast