Syndicate Bank - At Start of Wave 3 (Its Time to Get In)As per analysis, it seems that there will be a breakout to the wave 3 as previously the charts shown a higher low. If it breaks through the level of 74, then we might see a big rally moving up to the levels of 80-100.
It is a good time to get in with minimum risk.
Wave3
BTC / USD in Potential Wave [3] - Updated ChartA quick update to my wave count posted about two months ago. I modified the timeline of the labels - price targets remain the same. The sideways movement lasted longer than I had anticipated. Price stability in the low 400s area created a nice base for the recent rise in price.
Review the old post on cryptowaves.com for detailed commentary. Note that I changed the labels slightly in the updated chart I posted today because I had a mistake in the labeling of the wave degrees in the post from February.
cryptowaves.com
AUDCAD uptrend , wave 3its obvious what im looking for.
lets see will it break to upside and trigger buy stop or it will continiue correction
EWA. EURUSD - An Ending Diagonal (Wedge)And so, after a little break in falling down, in the middle of august '15, EURO continues his journey to the south. Perhaps, now there is forming an ending diagonal in the wave 5 (or c). Why do I think so? As we can see, there are a lot of correction waves (ABC), both up and down. Therefore, there are two possible scenarios:
The correction up will continue in the wave C, and the whole model will be a flat (marked with gray color). In this case, wave C can be an ending diagonal as well.
There will be formed an endind diagonal, and the current "ABC's" are its wave I and II. After it's finished, the currency will start a major correction, but it'll be not earlier than next year.
Why do I think it's the second scenario, even the ending diagonals are not so common? In the wave II, there were formed a beautiful triangle in its wave {B}. As we remember, accordind to the Elliot Wave rules, a triangle could be only a wave 4 or B. Obviously, it cannot be a wave 4, therefore it's a B-wave. The question is, it's a B-wave in the I-st wave of upside diagonal or it is in the II-nd wave of the downside diagonal?
My trading plan:
March has started with a little correction, and it's a good oportunity to sell. So, I open a short possition, even the correction can go further, with a stop-loss order at the local maximum - 1,137. Once the order is filled, it means I will trade the second scenario. I want to trade wave 3 only (because to trade wave 5 in an ending diagonal is too dangerous), so the target zone is, at least, 1,05, but probably it will be 1,04 or even more. So, the risk/reward ratio is acceptable.
Wave 3 of iii Potential - Jan 19 Low is criticalFor those intimate with Elliott Wave counting, check out this chart.
The EUR/USD and AUD/USD have been diverging in price over the past few days creating some large moves in the EUR/AUD cross pair. The Elliott Wave picture has a wave count that suggests a wave 3 of iii underway from the Jan 19 low. If this is the case, then prices are likely to aggressively climb higher.
A drop below the Jan 19 low does not negate the bullish counts, but does hamper how I have the .1 and .2 labeled.
The pair was highlighted in a published article 2 weeks ago - you can view it here for a refresher.
Best of luck and happy trading!
Price has not yet clearly broken out of correction...ABC wave pattern seems to be complete. But is the correction complete yet? Looking at last weeks price action we cannot discard a prolonged flat correction .
But I will still be looking for long opportunities, as I expect wave 3 to the upside.
AUDNZD: Good opportunity! Buy or Sell?I can figure out 2 cases of this pair:
1st case. The correction seems to end @ major trendline start from wave 1 (up trend) . I refer this case.
2nd case: The correction still in Zigzag and continue to break out bellow previous LL and travel to make a C leg.
In both cases, we have a narrow zone to buy and sell with good RR!
Thanks
EURUSD Channel Forming There is a pullback in a channel formation forming
The 4 Hour is hovering around the trend line, however the 60 minute is showing a lack of bullish power.
I will look for a trade entry breaking below the channel
Price reaching 1.11000 may see a push to the upside, with long orders triggered.
Watching to see.
Gold's Two Bullish Wave CountsGold has a couple of bullish interpretations listed below. Before I get into them, even though this piece is about 2 bullish interpretations, the market can prove both of them wrong so please don't expect this to be 100% correct...nobody has that magic wand in their hand.
The preferred count is the wave 3 higher written about 2 weeks ago is still alive, albeit barely. It suggests prices continue to follow through on a move higher that carries towards $1245. $1245 is where wave iii = 1.618 * wave i which is a common relationship.
The second interpretation is that we are working a larger zig zag higher. Zig zags carve as a 5-3-5 pattern. In this case, our '3' is shaping up like a triangle (note the alt labels). This suggests we fail below 1156 and retrace back towards 1110. Near 1110 is the buying opportunity under this interpretation for a target range near 1200-1225.
Bottom line, a failure in price early next week opens the door for a buying opportunity near 1110 (1090 stop) and target 1200-1225.
Happy Trading!
EURCHF (updated) Long with wave 5The same idea with previous forecast. I plotted the overlap zone which reject wave 4 of a possible impulse wave. So, I determine this is a corrective wave.
The next question is DOES the wave end or not. This corrective wave reach near to 61.8% fibo level and did not overlap the 1st wave, price also bounced up .
Trading strategy: I assume that price is developing the 1st wave of wave 5 (5-wave structure). So, just wait for wave 2 to buy wave 3.
The conditions to trade: Price will break the channel of wave 1 (the current wave) but not retract 100% of wave 1 (1.07151)
UPDATE #3: USDJPY: A WAVE 3? MAYBE NOW!. 180+ PIPS POSSIBLEAt the risk of sounding like the boy who cried "WOLF!" too many times, I have re-adjusted my current wave count and now it seems a "wave 3" has just started. It is the nature of the market that it is unpredictable and we can only take our best guess at what is actually happening. This is why counting waves is an art. Not a science. Wave counting is dependent upon the eye of the beholder. And must always be re-assessed over and over with every new significant price action. Otherwise, you risk missing out on great trade opportunities or worse yet...getting in on bad ones.
So what I'm doing here is alerting to the POSSIBILITY that a "wave 3" has started....just not the "BIG ONE" that I have been waiting for. This is a "small one" relatively speaking but with a chance to yield 180+ pips if taken now. The risk:reward is good as the S/L is pretty close. That would be the point to which my wave count would again be rendered incorrect.
Take my recommendation as you see fit. Again, it's just what I'm seeing and what I'm doing.
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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ANALYSIS: EURUSD: All Roads Lead To A Wave 3Did that headline get you excited? Who doesn't want to catch a wave 3, right? So my thorough analysis says a wave 3 is the next move. But when and where will it start? Or has it already started? Can you still catch it if it has? If so, where would it be best to catch it? All these questions will be answered....in due time! So let's get started with why I'm thinking wave 3.
I did post about his possibility last week (see Related Ideas: "EURUSD: Did Wave C Just Start? Bull Bat TP1+TP2 Hit (+222 pips)". But in doing my weekend re-analysis, I throw everything from last week away and start from scratch and see if I come to the same conclusions. Here's what I got.....
SUMMARY OF MAIN CHART ABOVE
The chart I posted above is the 4Hr TF chart. The chart is simple. Two patterns. One is a bullish Gartley and the other a bearish butterfly. Both end at/near the lower and upper trend lines respectively. By my wave count, it's possible that we are already in a wave 3 moving up towards filling the bearish butterfly at the top trend line. But it is also possible that the wave 2 has not yet finished and prices will move towards the lower trend line more and fill the bullish Gartley before starting on the wave 3 up after testing the lower trend line. Prices are at a decision point (as of the time of this posting) as to which way to go. It's simple. If it goes down and breaks the B point of the Gartley, then wave 2 is not finished and the Gartley will get filled. Prices then will start on wave 3. If prices either move down and DOES NOT break the B point of the Gartley and then start moving up again OR prices just move up from where it is now, then wave 3 has already started and now is a good time to look for opportunities on small retracements to get in on it. Why the B point is so important? Because if wave 3 has already started, then point B is the end of the wave 2. If prices go lower than that, then wave 2 is not done. OK, so how did I come to the conclusion that there is a wave 3 coming here and that prices are not just poised to shoot down in starting another impulse wave down?
OVERVIEW - MONTHLY CHART
There is A LOT going on here! Mostly self-explanatory but overall...BEARISH! So if I am overall bearish on this pair, why am I saying there is a wave 3 UP coming? Well, remember this is a MONTHLY chart and everything that is happening now is all within the context of the MONTHLY moves.
WEEKLY CHART - ZOOMING IN ON THE CURRENT PRICE ACTION
DAILY CHARTS - HERE'S WHERE IT GETS INTERESTING: 3 POSSIBLE SCENARIOS
So below are 3 charts on the DAILY TF that show 3 possible scenarios that I think have the most likelihood of happening. Of course I am not saying any of these WILL happen and that there are many other ways that this correction could still unfold and also that there is a possibility that the correction is over and prices are poised to move lower from here as well. But these are just MY thoughts are the most likely scenarios. Choose whichever you think. But in ALL 3 scenarios, the next move is UP in a wave 3. And that is why I am so confident that this is a very good opportunity to catch a wave 3 movement!
CONITNUED BELOW IN COMMENTS SECTION DUE TO POSTING LIMITS
Emini with new ABC setupThis is an alternative setup based on my prior trade idea.
This setup has now a confirmed ABC elliot wave pattern that normally gives potensial for high R trades. The tradesetup has a RR of 4,3 with entry at 2080 and stop at 2079 and target at 2088.
Target is now at a typical Wave 3 level that has the confluence with higher timeframe supply. I will consider trailing the the long at target it the momenentum is strong with an ATR stop.
Mattel Continuation of Bearish Move After Double Top Formation1) Significant Double Top formed between 46.00 - 48.00 levels
2) Price has retraced back to Neckline and begin second impulse wave.
3) Price has broken 64 Month Uptrend Line and may transition within a projected down channel
The near term projected path of least resistance, will be for price to continue downwards.
It is also likely that the price will trade within the boundaries of the dotted Downtrend Line.
Theoretical Price Targets:
a) 32.88 = 40 - 7.12 = 32.88 (Conservative)
b) 27.00 = 40 - (48-35) = 27.00 (Plausible)
c) 18.97 { Double Top Neckline - } = 40 - (13 x 1.618) = 18.97
{Aggressive projection, lesser probability of happening vs then a) and b)}
