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Triplezigzag

Two Bearish Scenarios This is supplementary to my previous idea. If you don't like Gann Square and Arcs, ignore them, or skip this article. But how about the case where this upside was merely a fake out of the pennant? In the previous idea, I introduced a bearish scenario with an Elliott-wise impulsive movement. Considering the arc S&R, or the overall diagonal movement, it could also develop in a triple zigzag way (WXYXZ). I didn't examine a diagonal triangle scenario because it doesn't well fit the art S & R, but it could also be possible. On the other side, wave E of the triangle wave can extend to mark a new high. A robust bullish movement from here may invalidate all my bearish scenarios. Still, theoretically, these scenarios aren't invalidated until the previous high (22850) is broken (though I would close my short position if it went far beyond 21200). Regarding the support, whether approx. 19750 and 19150 lines hold or not would be the judgment (19750 once having been attacked).
Short
by jackrabbitrage
What could invalidate Falling Wedge reversal setup This is an update on my previous ideas (see links below.) As I explained in the related article , this downtrend may be forming a Triple Zigzag, having 3 zigzag waves joined by two corrective waves, each comprising 3 minor-sub waves (3-3-3-3-3, denoted as W-X-Y-X-Z). So far, it seems nothing violates Elliott Wave Theory's definition of Triple Zigzag. Let's check the latter half of the Triple Zigzag wave, Y-X-Z. Wave X is itself often a complex correction, but we can see it has three component waves, a-b-c, broken down into a zigzag, a zigzag, and a diagonal triangle. Wave b was, as we remember, a reversal beginning from the recent, right-inclined Inverse Head and Shoulders. The rebound looked as if it were an impulse. If it were an impulse (with 5 wave components), it would invalidate the Triple Zigzag hypothesis. However, it included a sudden spike, and its accompanied correction. The correction, a long red candle, should count as the 4th wave if the whole rising wave is an impulse. But it appeared in a very short time, which seems to be extremely irregular. Rather, I suppose we should count this wave as a Double Zigzag comprising three waves, as in the image attached below. If this count validates, the weird pseudo-impulse counts as the second wave or wave b, in the third wave, "Z" of the Triple Zigzag (W-X-Y-X-Z). If so, we are in the FINAL swing of this downtrend, wave c of wave Z, which could be aiming for12500 or lower, according to my prediction. Bull's hope would be a reversal from here, with this plunge being a falling wedge breakout reversal setup, which competes with my theory/hypothesis above.
Short
by jackrabbitrage
13
TOPGLOV most likely last leg down to around 3.40.. 30/8/21Congratulation for those still holding TOPGLOV stock!!... TOPGLOV as 1 of the 30 "Blue Chips" stocks comprising KLCI index which has turned into Bullish Sentiment. What could be the next move of TOPGLOV , HARTA AND KOSSAN ?...All 3's which making the "major contribution" to KLCI index.. Checking from TOPGOV's intraday price structure.. TOPGLOV most likely on its final leg down to complete its triple zig zag ( WXYXZ) (red circled) AND Wedge pattern where Bullish sentiment will be "on" at around RM3.400 at 1) Major Weekly Demand Zone 2)Weekly 233 EMA lines..
MYX:TOPGLOV
by SteveTan
9
Mature rising correctionIn a long choppy correction has been underway from the coronavirus bottom. Look at how slowly, how weak the upside pressure. There is countless overlapping tops and bottoms. This is the way how looks a corrective rising. The fear of missing out heats the rise. The possibility of breaking upward from this rising channel is minimal in my opinion. So the English stock market is very near the resistance zone represented by the upper line of the channel and the .618 Fibonacci level. I am waiting for a bearish reversal movement than after falling out of the channel and it could go to a new low. We will see, but it seems everything will be decided around the channel lines.
FX:UK100Short
by MoodandMarkets
ORBEX: EURUSD and AUDUSD Reach Critical Intersection!The Coronavirus keeps spreading, weakening Aussie despite the upbeat jobs numbers as markets take a less risky approach to the heightening threat. Technicals indicate that Aussie and Euro move hand to hand, with the former falling following a ‘holding’ ECB! Now both are corrective and at a trendline low! Pound, on the other hand, does relatively well as rate cut expectations diminish! Will it continue long? Well, PMIs could tell... Trade safe Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex