Veejahbee

Veejahbee

Bitcoin rally that started on Dec 18th, 2019 low to as high as $10505 seems to be unfolded as a leading diagonal structure. The advance broke a key corrective channel and some weekly resistance levels. The current plunge from Feb 13 high which is currently visible as zigzag is too shallow to correct the entire rally, hence a deeper correction is plausible. I'm...

Veejahbee

I pointed out a key reversal zone in the USDCHF's analysis I published on Feb 17. Price reached the area and find sellers. With the completion of the correction, a 5-3 wave cycle is considered completed. The trend is expected to resume in the direction of the impulse pattern which is bearish in the USDCHF's case. The target below 16th January low is plausible...

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NZDUSD'S 4-hourly chart reveals the entire price structure from the Jan 2020 top. As you can see, it is a textbook five-wave impulse, labeled (i)-(ii)-(iii)-(iv)-(v). It unfolded within the parallel lines of a trend channel and the sub-waves of wave (iii) are also visible. The market apparently took the guideline of alternation into account, too. Wave (ii) was a...

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EURGBP decline from August 2019 high can be seen as a classic Elliot Wave five-wave impulse pattern, labeled 1-2-3-4-5. Every impulse is followed by a three-wave correction. That is what seems to be in progress in EURGBP's case. The rally from wave 5 low unfolded in three-wave, followed by another three-wave decline which must have been wave "A" and "B" of a...

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Silver breakout rally from wave ii low has been in a five-wave pattern. According to Elliot Wave theory, a three-wave pullback follows every impulse and that's what I'm expecting from XAGUSD right now. The completion of the correction should set a stage for a significant rally in wave (iii). See related ideas for long term Silver Elliot Wave setups I published...

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After the decline in wave ((a)) in red, the price has been unfolding in a corrective manner which is yet to be completed from Elliot Wave's perspective. Wave (a) in blue is sharp, while wave (b) unfolded as a double zigzag and formed a double bottom pattern. This scenario is best fit in for expanded flat 3-3-5 pattern, which according to the EW guideline, a sharp...

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The rally from wave c of Y low on 16th Jan 2020 has been unfolding as a double zigzag corrective wave. Corrective structure moves in the opposite direction of the major trend, that's once the wave y of X is completed, the bearish trend should resume. I'm anticipating the correction to complete at the daily resistance zone that lined up with the moving average. ...

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AUDUSD is approaching the completion of a five-wave pattern after breaking out of a major corrective structure. Once a five-wave pattern is completed, a three-wave in opposite direction should follow according to Elliot Wave theory. That's AUDUSD should find a bottom soon and at least we should see a three-wave move higher in the weeks ahead.

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The decline from 99.66 unfolded as a leading diagonal structure, labeled i-ii-iii-iv-v. According to Elliot Wave theory, leading diagonal always point toward the direction of the major trend. Also, once a five-wave impulse is completed a three-wave retracement follows. In the Dollar Index case, the corrective pattern seems to be unfolded as a w-x-y double zigzag...

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EURJPY has been trading in a corrective structure since Feb 2018. The corrective structure which is unfolding as a triple zigzag is about to complete the last leg lower. As you can see on the chart, the decline from wave X high at 127.501 unfolded in a five-wave pattern in wave (a). It then followed by a three-wave bearish corrective structure in wave (b)....

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Well, it seems like EURSUD has found support and completed a 5-3 wave cycle with a leading diagonal in wave 1 and triple three corrective pattern in wave 2. The corrective structure fits perfectly in a bearish channel and testing a previous bottom which is also a weekly support zone. The Price has the potential to move higher from or near the current level and...

Veejahbee

Price has just completed a 5-3 wave cycle. I'm expecting a continuation to the upside.

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Alibaba Group, $BABA, is a Chinese multinational company specializing in e-commerce, retail, Internet, and technology. Here is what to focus on as we're expecting the earning release on 13th February 2020. However, Alibaba stock is climbing to a new all-time high from a breakout that makes the bulls very excited about the future. But are they right to feel...

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The weekly chart above shows GBPNZD's entire decline from Aug 2015 high. The sell-off is a textbook Elliot Wave impulse pattern, labeled 1-2-3-4-5. According to the theory, a three-wave retracement follows every impulse. Here, that three-wave rally has been unfolded as a W-X-Y-X-Z triple zigzag pattern. Wave (c) of Z is about to complete. I anticipate GBPNZD to...

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Price is making a five-wave Elliot Wave impulsive structure. I'm looking to long wave "v" once wave "iv" is completed around the Fibonacci level. Kindly like and follow if you like this analysis. Thanks.

Veejahbee

In this analysis, I'm taking a look at Bitcoin from another Elliot Wave perspective. As an Elliot Wave trader, having an alternative view is really important in order to be actively ready for any scenario in the market. In the chart above, the recent rally can be labeled as a (w)-(x)-(y), which is a corrective pattern against the decline in wave "a" in red. This...

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The corrective pattern on BTCUSD seems to be completed as a double three (w)-(x)-(y)-(x)-(z) pattern after which it follows by a rally that broke out of the corrective structure channel. The structure of the rally looks like a five-wave impulse, it's labeled it (i)-(5). The impulse wave set the direction of the trend. According to Elliot Wave theory, a...

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Ripple "XRPUSD" has gained almost 49% gain from its December 2019 low. However, the structure of the advance is more corrective than impulsive. The current pattern on the chart is called a double zigzag according to the Elliot Wave principle. Wave (y) of the zigzag also equals 1.236 of wave (a) at a critical weekly resistance level that lined up with 200 Daily...