Veejahbee

Veejahbee

Hi Traders! The chart above shows that the advance in Spotify from its September 2020 low has been taking the shape of the Elliot Wave five-wave impulse sequence, labeled (i)-(ii)-(iii)-(iv)-(v). The sub-waves of wave (iii) is also visible. The price action follows the guideline of alternation quite well, wave (ii) is a sharp and deep correction and wave (iv)...

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Hi Traders! BTCUSD made a sharp decline in wave "a" from its $42000 high, and since then the price has been trading in a sideways which now make Elliot Wave sense. The sideways move is known as the Triangle pattern and it usually contracting with series of 5 three-wave sequences, labeled as (A)-(B)-(C)-(D)-(E) on the chart. According to the theory, once a...

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Hi Traders, The chart above reveals the entire price action of EU from its March 2020 low. The advance is taking the shape of a textbook Elliot Wave five-wave impulse pattern . Wave (ii) unfolded as a zigzag, wave (iii) is the longest wave, and wave (iv) unfolded as a double zigzag. The price action seems to be in wave v, which will end the five-wave structure...

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The Bitcoin sharp decline from ~$42000 high is impulsive in nature. Impulse move indicates the direction of a larger trend and according to Elliot Wave theory, at least a three-wave move in the opposite direction follows every impulse. That's what has been unfolding as a simple zigzag pattern from wave "a" low. Once the three-wave correction is completed...

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ETHUSD decline from $1348.24 unfolded as a five-wave impulse. The sub-wave of wave (3) is also visible. According to the Elliot Wave principle, at least a three-wave move in the opposite direction follows every impulse. The correction seems to be unfolding as a simple zigzag, which is now in wave (c). Once the three-wave move is completed, the price should...

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Bitcoin rally from 28115 low is taking the shape of Elliot Wave five-wave impulse sequence. It's labeled (1)-(2)-(3)-(4)-(5). The sequence follows the alternation guideline quite well, wave (2) unfolded as an expanded flat , and wave (4) took the shape of a simple zigzag. According to EW theory, once a five-wave pattern is completed, at least a three-wave...

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Compliments of the season traders! <3 Here is a long-term GBPAUD chart to start the new trading year. GBPAUD started a corrective phase after a five-wave massive decline. In this analysis, I focus on the corrective pattern that's unfolding from September low. Price seems to be making a possible 3-3-5 flat corrective pattern on the daily chart. If this count...

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The U.S. Dollar has lost almost 13% of its value since it topped out at 102.99 in March , it has tumbled as the federal government carried out multiple fiscal rescue programs to buffer the economic damage from the coronavirus lockdown in the first half of the year. The chart above allows us to put U.S. Dollar's entire decline since March 2020 high in the Elliott...

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The chart above allows us to put EURUSD's entire progress since March 2020 low in Elliott Wave context. The impressive uptrend which took the currency price from below 1.06 to over 1.21 in nine months looks like a textbook impulse pattern. Its five waves are labeled (i)-(ii)-(iii)-(iv)-(v). Turbulent Months Ahead for EURUSD What should worry the bulls is that...

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USDTRY made a sharp five-wave impulse decline from 8.58 high. According to Elliot Wave theory, a three-wave correction follows every impulse pattern. In USDTRY's case, the correction seems to be unfolding as a simple zigzag. We have the wave "a" and wave "b" seem to have completed as a simple zigzag. If this count is correct, the price should resume higher in...

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Ripple enjoyed a strong advance from early November and topped out on 20th November. Such rally is categorized as a third wave impulse in Elliot Wave and 4th wave correction is expected before the rally resumed in 5th wave to complete the impulse sequence. The correction which took the shape of a double-three pattern and lasted for almost 30 days seems to have...

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NZDUSD has completed a five-wave impulse move on the higher degree and a three-wave correction is expected to follow an impulse move according to the EW principle. The reversal is already in place as the price is making i-ii, (1)-(2) wave sequence. This kind of structure usually leads to a strong impulse decline in wave (3) of iii. Trade Plan: 1. Wait for the...

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AUDNZD made a bullish reversal after the completion of an ending diagonal pattern. The impulsive rally has made a two swing high, the i-ii, (1)-(2) wave structure. The completion of wave (2) correction which unfolded as a double zigzag, terminated at 61.8 Fib, and enclosed within a parallel channel indicated that the price action might have found a bottom in the...

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Price seems to be making a complex double zigzag correction in GBPAUD. The price completed the first zigzag in wave (w) around Nov 9. Almost a month later, the price has been trading sideways within a contracting trendline. This contracting structure took the shape of an Elliot Wave triangle and looks completed. If this count is correct, the price is expected to...

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The daily chart above shows that Gold has been in a corrective phase (bearish cycle) since August 2020. This correction started after a strong rally that sends the precious metal to an all-time high. The bullish chart pattern makes Elliot Wave sense and suggests that XAUUSD could be poised for a move higher over the final weeks of 2020. The pattern on the...

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Price is trading within a corrective channel after an impulse move. Price has the potential to retest the channel bottom and resume the advance.

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In the EURCAD chart above, the price made a five-wave impulse rally, in wave "i". According to the Elliot Wave principle, a three-wave correction in the opposite direction follows every impulse move. In EURCAD's case, the corrective move has been taking the shape of a double-three pattern which seems to be completed or still has the potential to make another...

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In the GBPJPY 4 hourly chart above, the price decline in five waves, it's positively correlated with GU at the moment. A five-wave move is regarded as an impulse pattern, which indicates the direction of the primary trend. According to Elliot Wave Principle, a three-wave correction in the opposite direction follows every impulse move. In GBPJPY's case, the...