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Zigzagpattern

FTT looks clear for doubling in priceFTT has rallied then declined in a 5-3 Elliott wave pattern. In Elliott wave terms, when you have a five-wave advance followed by a three-wave decline, most times, it is followed by another five-wave advance. From June 2021 to the Sept 2021 high, prices rallied in a five-wave impulse pattern. Then from September 2021 to the December 2021 low, a three-wave corrective decline was displayed. There is market harmony within the decline as it reached the 78.6% retracement level on a non-log scale (shown above) and has reached the 61.8% retracement level on a log scale (not shown). Additionally, the three-wave setback was in equal wave fashion which is common in Elliott wave zigzag patterns. Bottom line, $FTT is ripe for a rally from current levels that carry up to $70 and possibly to a doubling of prices above $80. Though not expected, if prices move below the December 2021 low, then we'll need to reassess the Elliott wave pattern at play.
FTX:FTTUSDLong
by JWagnerFXTrader
1
TSLA - ABC CORRECTIVE WAVE$TSLA, From reaching the all time high of 1,243.07, Tesla creates and nearly completing a good one example of Elliott corrective wave or Zigzag. In Zigzag rules: Zigzag is subdivided into 3 waves which subdivided into 5-3-5 waves. Wave B never moves beyond the start of wave A, wave A and C is subdivided into an impulsive or diagonal, and wave B is subdivided into three waves, a triangle, or a combination. This correction wave could be close the gap and reach the 840 Level and can be considered a healthy pullback with declining of volume and forming a bullish chart pattern. This pull back has a potential to reverse the short term trend upside.
NASDAQ:TSLA
by Damako
Zig-Zagging?!Every correction since 2015 has zig-zagged. Going again? IDK, but eerily close to dates, peaked on 12, sold to 28 Oct 2020. This one is running a week behind, looks like we peaked 10/21; to confirm on Fri 10/22, ERs tanking FB, SNAP, INTC techs overnight; if double top is in, might expect weakness until ~5 Nov, if the zigzag pattern repeats. Bull trap?! Not saying that it will, just something to think real hard about before you go plunging long IMO... at insanely overbought RSI; GLTA! This is not only not advice, there is no position indicated and no strategy (not short, definitely not long!); just pure tutorial, enjoy! PS the overlay is Sep/Oct 2020, amazing how it fits, even the little retracements on 21-24 Sep and 11-13 Oct are precisely timed...!
TVC:SPX
by DaddySawbucks
7
QQQ: Triple Zig-Zag corrections on path to 405 ATH?!We had two zig-zags, in Sep/Oct and Mar/May. These lasting 2-3 months. Bull waves after lasting 3 months, gaining ~60+ pips. This rally is near exhaustion IMO. Expect correction on/about 7 September after Labor Day. 3 Sep likely a new ATH. Most ATHs DO OCCUR IN SEPTEMBER! That said, Ka-Powell speaks this week, Fed meets, Treasuries look like headed for inversion. Death cross in T-bills came over wires today. Entering some shorts, not whole hog yet. Bear put spreads and vertical call credit spreads. NB: Low price of 2nd zig-zag just touched prior ATH (March low tapped September high); if pattern recurs, projected low ~342 in September. Notice how thin the volume gets at these stratospheric prices! Not many buyers up here... but it creeps higher nonetheless! VERY RISKY ATM! Trade at ur own risk; maybe better to go fishing and hit the beach instead! Risk-free activities encouraged! GLTA!!
NASDAQ:QQQShort
by DaddySawbucks
2
How To Know When And Why Bitcoin Is Confirmed Bullish Or BearishBitcoin is at the crossroads as to whether it's bullish or bearish. In this short analysis we'll explain how and, more importantly WHEN, you we determine which of the two it is. By being able to identify the technical direction at the earliest safest point, we'll either be given the gracious opportunity of stepping away from the fast-approaching freight train, or - in the case of Bitcoin actually being back to bullish - we'll be able to hop onboard it before it catches on too much speed. As continually stated here on Trading View over the last few weeks Bitcoin is, until proven otherwise, in the midst of an ABC zigzag correction. The steep bullishness we're seeing at the moment is likely just a bull trap B-wave. And the very steepness of the last couple of weeks' price development tells that story on its own. A few weeks back we re-entered with the entirety of our Bitcoin position (or rather Marathon Digital Holdings for the leveraged effect) upon Bitcoin breaking above its half-year long diagonal RSI resistance. This had been rejected some 8-9 times depending on how you count. And as always within technical analysis, the more times a support or resistance is being tested, the more violent the eventual outbreak tends to be - at least from a statistical point of view - as legion of pent up pressure is released. And that's exactly what we've seen since in Bitcoin as it's gone up by 45% since its RSI breakout. So how then do we know whether this is a mere B-wave bull trap or whether it's in fact that bullish reversal towards new all-time high that everyone seems to be eagerly waiting for? Well, if this were to be the B-wave of that zigzag, we know that the B-wave on its own should consist of an ABC (see picture below). In an ABC zigzag correction the C-wave of the B-wave (the one we're in right now) is typically shorter than the A-wave of the B-wave. Yet, the C-wave can still reach equal length of the A-wave, albeit it's not as common. At the moment, Bitcoin is trading right at a technical confluence of resistance. So far the C-wave of that B-wave is shorter than that of the A-wave of the B-wave. If they were to be of equal length it'd bring Bitcoin to the 618 fib between $50 000-51 000 (the $13 000 length of the A-wave added onto the B-wave bottom of the B-wave). Now, as we've concluded we're in the prospect C-wave of the B-wave. We also know it's statistically unlikely for that to equal or exceed that of the A-wave. This is where the magic starts to happen. First of all, if this were to be the end of the zigzag B-wave it naturally follows that the next retracement below $50-51K should amount to the 1st wave of the 1st wave of the C-wave. Such retracement would have to at least reach the 382 of the C-wave of the B-wave in order to "count". If such retracement - which would be clearly visible on the daily chart - were to again be recovered price-wise, it would automatically disqualify the ABC of the B-wave as it would then have initiated a fifth wave. If, upon the next retracement that reaches at least the 382 fib, the price were to recover and take out the previous top we will KNOW that this is not the B-wave of that big zigzag, but rather a bullish 5-wave impulse - the first wave impulse out of a bigger 5-wave impulse - for a solid preparation towards new all-time highs. The same zigzag nullifying principle applies if the price were to continue past $51 000 as it'd be a statistical abnormality for a zigzag B-wave. This would rather tell us that we're in the 3rd wave of a 5-wave bullish impulse. And the additional reason for this is simple: the 3rd waves are usually the longest (and NEVER the shortest). All in all, if Bitcoin were to correct by at least the 382 at or below $50-51K this will constitute the high risk danger zone. This is where I will release the entirety of my Bitcoin-related positions (as in Marathon Digital Holdings). Upon reaching that 382, IF Bitcoin were to proceed by taking out the previous local top it would be a safe spot to go long as this would confirm the 3rd wave bullish count and automatically disqualify the entirety of the zigzag. If the price proceeds lower, chances are increasingly in favor of the zigzag being at work, preparing the price for much lower levels - technically in the late teens or early twenties. Equally so, if Bitcoin were to break above and close above $51 000 it would also conclude that the B-wave is invalid and that Bitcoin is trading in the 3rd wave within a 5-wave bullish impulse. In essence, the things to look out for are the $50-51K zone and whether Bitcoin can stay below or break above it AND how Bitcoin were to evolve if it were to retrace by at least the 382 fib (of the C-wave of the B-wave). If it were to continue higher than the local top, it will automatically disqualify the zigzag and confirm that Bitcoin is back to bullish. And if the price does not recover, expect significant drops in price.
BITFINEX:BTCUSD
by LongLifeTrading
4
💨𝙀𝙒 𝙋𝙖𝙩𝙩𝙚𝙧𝙣: 𝙎𝙞𝙣𝙜𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜🌊●●● 𝙎𝙞𝙣𝙜𝙡𝙚 𝙕𝙞𝙜𝙯𝙖𝙜 (SZ or ZZ) ❗❗ 𝙍𝙪𝙡𝙚𝙨 ● A zigzag always subdivides into three waves. ● Wave A always subdivides into an impulse or leading diagonal . ● Wave C always subdivides into an impulse or ending diagonal . ● Wave B always subdivides into a zigzag, flat , triangle or combination thereof . ● Wave B never moves beyond the start of wave A . ● Wave B always ends within the price territory of wave A . ● Wave C almost always ends beyond the end of wave A . (failure to comply with this requirement is called «truncation» * * Guideline, but should be followed as a rule ❗ 𝙂𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨 ● Wave C should not fail to reach the end of wave A by more than 10% of the length of wave A . ● In a zigzag, the length of wave C is usually equal to that of wave A , although it is not uncommonly 1.618 or .618 times the length of wave A (rarely 2.618 ) ● Wave B typically retraces 38 to 79 percent of wave A . ● If wave B is a contracting triangle, it will typically retrace 38 to 50 percent of wave A . ● If wave B is a running contracting triangle , it will typically retrace between 10 and 40 percent of wave A . ● If wave B is a zigzag, it will typically retrace 50 to 79 percent of wave A . ● In a zigzag, if wave A is a leading diagonal , then we would not expect to see an ending diagonal for wave C . ● A line connecting the ends of waves A and C is often parallel to a line connecting the end of wave B and the start of wave A . (Forecasting guideline: Wave C often ends upon reaching a line drawn from the end of wave A that is parallel to a line connecting the start of wave A and the end of wave B .) Elliott Wave Principal 2005 and Q&A EWI.
BITSTAMP:BTCUSDEducation
by TradeWaves-EWA
4
BTCUSDLast outlook we anticipated to have a normal Elliott Wave 5 to the downside. However price has continued to trade sideways in a Zig Zag Pattern. Price has not traded below the March 19, 2021 low which completed the Wave 3. The current analysis is that on June 22, 2021 price completed a final WXY Zig Zag at 29563.05 and exactly 6 months ago to the day when price traded upwards from the same support level on January 22, 2021. Our anticipation is for a continuation to the upside in an impulsive manner and will consider the Truncated Wave 5 confirmed once price trades to and stays above 42449.55. Current Bias is Long BTC and Bearish USD. Trade Well and Stay Safe !
CAPITALCOM:BTCUSDLong
by AsproTrader
Bitcoin relief rally before CAPITULATION to $20K!In February and March we talked regularly on the YT channel about how Bitcoin's primary and secular trend lines were far too steep to be sustainable. Well, that was quickly redeemed by a deep and long-lasting price- and time-based correction. The primary and secular trend lines now merge nicely on the weekly log chart (if drawn as internal trend lines rather than external). You can see those lines on the daily chart too. In March and April we talked about how Bitcoin would go down to $42 000-45 000 and how that would beautifully complete an ABC 4th-wave correction. This thesis, however, was nullified once the price broke below $42 000. And the reason for this is because the corrective A- and C-waves should technically be of equal or similar length, either in raw numbers or in percentages. Now it rather seems like we're in the midst of a much bigger ABC correction - a zig-zag (5-3-5) in which we have just completed the A-wave and initiated the B-wave. Based on the diagonal primary and secular trend lines - which would act as a magnetic force should this ABC-correction play out within the 4th wave - then we can reverse engineer the B-wave target. The A-wave caused a -55% drop in itself. That means the C-wave should be of similar magnitude. The $46 500 level perfectly aligns with that calculation, from which a -55% drop would land Bitcoin in the low 20 000s and right on the diagonal primary and secular support line. This area also perfectly coincides with the 0,5 fib and a diagonal resistance level. For as we know, fibonacci levels tend to be particularly reliable when it comes to Elliott Wave Theories. Last week I announced that Bitcoin was in for a bullish reversal amidst the $28,600 drop. Now those technicals are coming together in strength. We might be in for new all-time highs, but there's a greater chance Bitcoin will be rejected at this very technical $46 500 level. The only thing I want you to take with you from this piece of analysis is that that very price zone ($46 500) is a danger zone and it stretches all the way up to the mid $51 000s as Bitcoin could very well feint us all by reversing at the 618 fib but for a $24 000 capitulation C-wave bottom. Anyone who trades actively may want to get out of the way in this 12,50% danger zone. The risk to reward for staying/hodling in that range is absolutely horrible. Long Life Trading
BITSTAMP:BTCUSD
by LongLifeTrading
3
Don’t get over excited on ETH. Here is why Eth had a 5 sub-wave down correction which it can indicate a Zig-Zag correction at least. A Zig-Zag correction is a 5-3-5 wave count. Based on this theory, the wave B, should have 3 sub-waves up, as drawn on the chart. In case we see this pattern, we may expect at least to revisit the lows of 1500usd and even lower. But this is a short term (1-2 months) correction and part of a mega bullish wave 5 up. Nothing to worry about the future but it will be nerve breaking for many. Just turn off your social media accounts and come back in 2 months. Stay safe!
Short
by DEFI-trader
7
USDJPY ZigZag Long Trade Setup - Potential x3 RRHi Traders! It has been a while here. Check out my current trade setup on USDJPY. Price has completed a simple zigzag which might be part of the circled wave iv potential triangle pattern. Wave c equals a and it's also testing the lower boundary of the parallel channel. The breach of the upper green level will be our conservative entry. Market has presented an early entry from the lower green level. The price must stay above the red invalidation level for this setup to remain valid. What's your view on UJ? Let me know in the comment. Thanks, Veejahbee.
Long
by Veejahbee
1
Wave 2/Bearish Gartley/AB=CD Harmonic Pattern/TRZ !!!First, I have to say that we passed Running Flat correction , even we passed Main Wave 1 . Now, we are on Main Wave 2 ( Zig zag corrective & AB=CD Harmonic Pattern ), probably end of micro wave b of Main wave 2. I can see another Bearish Gartley on wave 2, and maybe this is end of micro wave b of Main wave 2 (You can open SHORT position if you see sign of revers on TRZ&PRZ). End of wave 2 can be around 56125$ until 51500$ , we need time to know that where is end of Main wave 2 ?!(You can open LONG position on end of Main wave 2 ) Please spend time for chart.( I spent lot :) ) Please follow your strategy , this is just my idea , and I will be glad to see your ideas on this post. Please do not forget 'like' button :), Thanks and Trade safe. Good luck.
COINBASE:BTCUSD
by pejman_zwin
how to apply fib channels and auto fib channels studyThe Fibonacci Channel is a technical analysis tool that is used to estimate support and resistance levels based on the Fibonacci numbers. It is a variation of the Fibonacci retracement tool, except with the channel the lines run diagonally rather than horizontally. The tool is used to aid in identifying where support and resistance may develop in the future. If the uptrend is expected to continue, the 100%, 161.8%, and other higher levels are potential price targets. The same concept applies to downtrends if a downtrend is expected to continue In an uptrend, the zero-line is like a normal trendline, helping to assess the overall trend direction. If the price falls below it, it may need to be adjusted based on more recent price action, or it could signal that the uptrend is over and that the price is breaking lower. Similarly in a downtrend, the zero-line also acts like a trendline. When the price is below it, it helps confirm the downtrend. If the price moves above it, the indicator may need to be redrawn or the price is moving higher out of its downtrend Difference Between Fibonacci Channels and Andrew's Pitchfork Both these indicators attempt to predict future support and resistance levels based on price levels from the past. Fibonacci channels attempt to do this with percentages of a selected price move. Those percentages are then projected out into the future. Andrew's Pitchfork is simpler in some ways as the angled lines are based on three price levels selected the trader and then extended out into the future. Step By Step Applying Fibonacci Channels Auto Fib Channels ʙʏ DGT ☼☾ LINK to Auto Fib Channels ʙʏ DGT ☼☾
Editors' picks
Education
by dgtrd
178
eurusd short The following text contains the reasons for the falEurusd It is declining until it creates a positive divergence. Also, when wave b is shallow from 1, it is not possible for wave 2 to be shallow its Harmonic Eliot Waves So the reasons for the fall: 1- Creating bullish divergence in 4-hour timeframe. 2-Harmonic Eliot Waves says we need a deeper correction 3-Classically, the uptrend occurred with the weekly resistance and also the uptrend line was broken. Therefore, the most reliable support that can prevent the fall is the weekly support, in the range 1.18800-1.18500 4-The last candle of the day cast a long shadow on its high resistance , Which indicates a failed test to climb as well as a failure to start the ascent If you agree with me and it was useful to you, do not forget to like and support. Good luck
Short
by sabbaghzade69
1
Crab pattern on 1 H. Bearish forming. GBP weaker bias (mid-term)Short trade on 1 hour timeframe. Crab pattern formed and forming a bearish momentum. Zig zag peak point is reached and forming another bearish line. RSI already in the downward momentum. Trade will be taken at the break of the orange horizontal line. Trade details: Entry: 1.38180 (The brake of the horizontal line) TP: 1.37420 SL: 1.39265 We currently still waiting for the TP. *If you like this trade, please like and share this trade so we could help others gain profit as well* Stay tuned for the update.
Short
by LittleBanii
2