In my last published chart some 2 months ago following the spike low around 151, I made provisional adjusted to the wave counts to reflect the price action still suggesting that the bearish cycle is still in action and has further to go. The reason for this was that bounce from 150 - 300 in not in clear 5 waves, rather it is in 3 swing zigzag. Hence, in making...
This is the mixed three. Unfinished structures /ED/ have a tendency to come into sideways trend. www.wavetrack.com www.amazon.com
After many months of fight, the markets are ready for a correction. 3-3-3-3-3 formation /Ending Diagonal / on the SPX is almost ready. Bearish Three Falling Peaks may end this structure on the current levels. Who will win this battle? One thing is clear - the market needs correction. www.elliottwave.com thepatternsite.com
After a massive decline from 90+ we now find us in the 4th or 5th wave consolidation I believe and so does the RBA that we have more downward movement yet to come Regardless we have a nice Rising wedge/ Ending Diag forming I see 2 entrys if we retouch the top of the trend I will short with a tight SL as it will tell me we will break the other way Or wait...
We have a big ABC countertrend move: A leg is a simple impulse B leg is a beautiful abc move C leg is an ending diagonal (Or Wolfe Wave if you prefer) For the Wolfe Wave setup the shorts could be taken now, but the problem is that the stop placement is gonna be too subjective. For the longer term ABC pattern trading I would have a more probable and...
In my last published chart of AUDUSD. I suggested that this pair was in progress for developing bearish contracting triangle referred to as 3-3-3-3-3. See the link below for details. However, that formation is now suspect as price has continued to grind higher. Whilst this does not change the overall expectation for this pairs to continue in bearish cycle, it...
EURGBP has been going through a long term correction(monthly chart). The correction seems to be bottoming out as the EURGBP has formed AB=CD pattern which has completed at around 61.8% FIb from its Top, We have bullish divergence on daily chart with RSI and MACD and there is an Ending Diagonal Pattern formed on Daily/4hr chart which has broken on upside now...
An Elliott Wave Ending Diagonal with the 5th wave coming in at 2138.04 2138.04 is the 1.618 extension of the subprime top and devils low. 2138 is also a confluence area where the 1.618 extension comes in from the major wave 3 swing high and major wave 4 low at 1821.61 Will it all end in an huge SHS? ...the form is a guess but we will at the beginning of a...
This is an update of a chart I made 10 days ago (check linked ideas). I've added some inner waves and some corrections. Yesterday's drop to $276 could have ended the (5) wave of C. You can zoom a bit to see the decomposition between (4) and potential (5). Long-term support, lowest-point after burst ($275), first level of fibonacci retracement are all pointing to...
USDJPY has potentially made an intermediate top and would start the correction from here. The ending diagonal forming and possibly made its last wave up. Going short now at 116.70 with Stop loss at: 117.50 and Target at: 112.70 which is 38.2% retracement of the last upmove. Good risk reward for the trade 1:5. Its just my analysis and trade idea's. Happy Trading!!