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Wxyxz

AUDNZD W X Y X Z Corrective pattern, Look for correction & sell Hi Guys, I had posted audnzd before but it broke out of structure and made impulse down, I looked again at structure and found it's all bigger B wave in form of wxyxz structure, so i'm not looking potential buy instead i'm looking for correction of this impulse and it will come so sell breakout of that correction to bottom. You can look for short term buy in form of correction structure but wait for impulse up and correction. So good luck i will post as i track this down.
Short
by Honey_Sharma_
Possible Elliot Triple Combo formation occurance on USD/DKKAs you can see in the 1 hr timeframe, you'll see a downward trend emerging in a WXYXZ pattern with the Z hopefully play part in the formation. Also drawn on the chart was a green support zone which indicates the market moving to the uptrend as the previous candles are touching this support line approximately 4-5 times. This gives me enough indication that the market will hit to the upward and rally on until it hits the Z formation of the pattern and begins to downtrend to continue on the pattern merged previously. SL and Take Profits are all listed.
Long
by chiefcapitalfx
Elliott Wave OutlookThere is a weekly corrective WXYXZ Pattern forming , and currently , the final wave Z is in progress . Wave Z internal structure is A,B,C : i.e. 5,3,5 The current bullish impulse wave moving in within the green up channel is wave A The breakdown of that green channel could be a sign for a down correction of wave B which can be any three corrective structure like ZigZag , Flat . The breakup of the resistance line of wave B could be a sign for the end of the down correction and a resume of the bullish impulsive wave C to complete Wave Z of the larger corrective pattern WXYXZ from which price may go strongly down
by MohamedMagdy
2
OIL WXY correction over or will it come down for the Z wave?USOIL Daily chart is at a critical point as it reaches the 61.8% Fib retracement of the correction so far. The important thing to note is if the WXY correction is complete and if bullish momentum dies at the trendline, we might get the Z wave. On the other hand if price breaks out of the corrective structure with conviction, then it will be a bullish impulse. Of course there will be plenty of opportunities and pullbacks to enter long. For now, I expect a swift reversal to complete the Z wave. Whichever way the market wants to move, let it confirm first. Trade with caution.
FX:USOILShort
by fxmillions
2
EURUSD Monthly. Falling Wedge. WXYXZ.It's unpopular count as many call for immediate short down towards sub-parity. The idea is simple - we got impulse up from 2000 low and now we are in a long term correction which shaped a very nice Falling Wedge pattern. None of the trend lines were broken so the model is valid. The wave C up should be impulsive with minimum possible target at 1.75 level where C=A. At the moment the structure of upmove is still corrective so it can be another wave X with possible target at 1.23-1.27 area which should be followed by another drop down in wave Z which should land in the area of often met 78.6% Fib retracement at 0.99 level or even below as wedge's support is at the 0.96 mark. Critics and comments are more than welcome!
by aibek
9
AUDUSD complex correction (triple combination)price acts as corrective structure and looks like a double combination or triple combination. still there is no trade setup, we have to wait to see a clear structure. There are 2 different labelings, blue one is WXY correction ending with an ending diagonal ( red numbers refer to blue scenario and ending diagonal) and green one is WXYXZ which is not finished yet; if the blue one is correct and wave Y is an ending diagonal, price have to move upside to the beginning of the ending diagonal at the same time of forming ending diagonal. Note the divergence
by ard3413