wsbza

wsbza Updated 

The previous post is getting too long, so I am starting a new post here. A solid close below 112.042 (the end of wave iv of (c)) would suggest wave (c) has completed. Alternatively, break above 113.176 would argue something else has been developing.

wsbza Updated 

simply a 5 waves up followed by 3 waves down, another lower degree sideways correction could signal a buy opportunity to catch the next impulsive rally

wsbza Updated 

Sell after corrective pull back, simply to catch wave 3 or c decline

wsbza Updated 

Since the short-term structure remains bearish, I am incline to wait for a selling opportunity to pop up

wsbza

If wave {v} took a formation of ending diagonal and has ended at $176.6, a large degree correction will be inevitable.

wsbza

Guppy EMA produced a bullish signal which could be an early indication of wave (3) rally is under way Note wave C of (2) stopped at $34.8 which is near the end of wave 4 of (1) & also close to 61.8% Fib level Alternatively, the existing A-B-C decline only represents sub wave A(or W) of the larger degree wave (2)

wsbza

It simply looks like a 3-waves correction (green a-b-c) after the initial impulsive rally (red wave 1 or a) . The short -term bullish target could be re-test the red wave a high at 0.73818, the stop could be 1 pip below the previous low at 0.72025. If we are lucky, this could be a wave 3 rally instead of c.

wsbza Updated 

we can draw a trend channel that almost perfectly connects the each end point of wave 1,2,3&4 I am still expecting another wave 5 rally to break the wave 3 high at 24187

wsbza

I came up with three counts all lead to bearish potential a red impulse followed by a triangle correction a red impulse followed by a blue combination (w)-(x)-(y) where wave (y) is a triangle a red impulse followed by an orange double zigzag (w)-(x)-(y) correction, where wave (x) is a triangle a solid close below red wave (d) low at 0.73482 would...

wsbza Updated 

Another wave Z rally or fall to a new low? A solid close below previous wave X low at 8.4238 would probably suggest more downside potential

wsbza Updated 

If a five wave impulse is done, we should expect 'at least' a three wave correction (at the same degree) to unfold. The beginning of wave (1) starts from March 2009 at $32.28 and if this year's top ($258.51 in January) is the end of wave (5), a multi year correction (or bear market for 3M) will be inevitable. Note: The length wave (5) equals approx. total...

wsbza Updated 

It seems that AUDCAD has formed a potential bullish structure: Wave (1) or (A) is a 5-waves impulse subsequent Wave (2) or (B) is a 3-waves corrective 'flat' and it has retraced approx. 61.8% of wave (1) or (A) that is also near the end of sub wave 4 of (1) or (A) If the above assumption is correct, a push above 0.97899 could be an early indication...

wsbza Updated 

if this count were correct, we could see another yellow wave {c} decline to complete wave 4 correction.

wsbza Updated 

The Elliott Wave W-X-Y structure indicates a bullish potential Guppy Multiple EMA also shows bullish signal Price has moved above the blue downward trendline and has been forming some sort of bullish flag shape since then

wsbza Updated 

If the above double zigzag WXY is the end of larger degree wave (2) or (B), a wave (3) or (C) rally should appear very soon. Note equality in length between wave X and Y recent low near 61.8% Fibonacci level break above 609.21 could signal further upside potential at least for the short-term

wsbza

looks like S&P500 has been forming a bullish flag after 3-months sideways correction (from end of Jan to beginning of May) A breakout move with increasing volume will stack the odds in bull's favor

wsbza Updated 

will this clear 5 waves decline define the larger degree trend in the near future? will it lead to a sharp zigzag correction that may retrace 50% or 62% of the entire fall?

wsbza

The rally from September 2017 low to January 2018 high is clearly impulsive, no much overlapping internally, making a very strong upward move within a relatively short period of time. What really catch my eye is the price movement after it peaked at 0.72 on 5 January this year. We can roughly count the decline in 3 waves. It retraced exactly 61.8% (a very common...