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Impulsewave

RMR: Elliott impulse wave finishing, correction wave incoming?Hi. I've plotted a resistance zone that's been prevalent since the start of the year. I've also plotted some Elliot waves: some past, some current and some incoming. The recent Three Drives pattern is over and unfortunately I didn't recognize it in time. But a good question then is what's next? Well there is a clear impulse wave occurring at the moment. The high price difference between the MA 56 and close price strongly indicates that the impulse wave will continue to finish wave 3 and 4. The exact time when this will happen is uncertain, the price on point 5 is just an example. But this means a correction wave is incoming when the impulse finishes. There are two decent position to make if you believe the impending waves are probable: When the current impulse wave has finished there is a good timing for a short position to profit off of the correction wave. When that correction wave is complete there will most likely be an impulse wave. A long position when this is apparent or a long position on the B point of that wave could both be decent. Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you. This does not constitute financial advice. Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
NASDAQ:RMRLong
by Kabeldon
BITCOIN to 90k by June? 🚀After a corrective wave bitcoin's space shuttle should be refueled for take-off. It appears the corrective wave has already started and will not be too drastic making it a period to Hodl or just buy more. I copied the first impulse wave's pattern and imposed it at the end of the potential corrective wave which takes us to $90,000 by the end of June this year. Prediction: BTCUSD hits $90,000 halfway through 2021, holds that level, and finishes the year at about $120,000 with major support at $100,000.
BITSTAMP:BTCUSDLong
by EBITDAtiger
10
BTC correction before bullish continuation?DISCLAIMER: Im not an Elliot Waves guru but only use the waves as a reference of a trend. BTC seems to have finished a three waves correction after which is seems to have started a new trend. What we know about trends is that it moves in waves as well, impulse correction, impulse correction, impulse correction... On a lower timeframe we can see a perfect pullback to the Fib 0.618 level. After which it surpassed the previous top creating a higher low followed by a higher high. Up next? Higher Low (if it is a valid trend). Taking the Fib from the low to the high of the latest impulse we get to the 50K area. This corrective leg down should consist of three sub waves, which would look something like this: As said if the trend is valid, the price should never go below the previous low so that is where you should place the stop for this idea. The final impulsive wave of this set might not go directly to 74K but that would be my ultimate upper target. ————— Do Your Own Research (of course) Trade at own risk (of course) Only trade what you can afford to lose (of course)
by MattieDsCryptoLounge
GOLD to the Moon 🚀🚀🚀Good Day Traders !!! We just rejected for the third time this strong level of support around 1855-1853. We expect gold to start his impulse to the upside since we can clearly see that on the Daily we clearly tested almost all the level of the fib retracement during the correction and we expect to see a continuation to the upside. Also from an institutional perspective I can see on the last report from the non commercial institutions a massive number of long position added as well as a big amount of short positions being closed which can mean a strong gold during this week. Now if you enjoyed this analysis smash that like button and share !! If you have a different opinion I would love to hear about it in the comment area. Trade safe !!
OANDA:XAUUSDLong
by TheDayzen
2
GBP/CAD UPDATE. Are we ready for the next launch ? Good Day Traders !! On this pair we have a very strong impulse to the upside made during the past week as we expected, now the market started a nice correction to the 0.382 Fib level. for such a strong impulse we expect the market to retrace at least to the 0.5 Fib level which aligns perfectly with a strong support area and demand. We will be monitoring price action on the 4H timeframe when the market reaches this area in order to place a nice long setup with a 1/5 RR so we can ride the continuation of the impulse to the upside. Now if you enjoyed this analysis make sure to like and share. I will be linking the previous analysis of this pair in the comment area below. If you have a different opinion make sure to leave a comment in the area below for further insights about this pair. Trade safe !!!
Long
by TheDayzen
7