Elliott Waves

Elliott Wave theory is one of the most popular and effective approaches to systematic trading. TradingView may be the only place where you can use Elliot Waves indicator with real-time charts for free. We are proud to offer this great tool to our users, and we hope to see more trading ideas with Elliot Wave analysis published.

Elliott Wave Drawing Tools
Elliott Wave drawing tools are for creating wave counts. They are located on the top toolbar and include five types of tools for drawing different types of waves.
BTCUSD, D Long
5 1411
Bitcoin In Double Zigzag Correction (Bullish Bias) - exploring it's likely upside

Earlier this year I outlined 4 possible scenarios (see chart link below) of which the 1 & 2 were theoretically possible but did not really feel high high likelihood of developing. I then explained this in later February in live webinar. This leaves us with 3 & 4 which in general are similar except where the upside correction ends and if there was just a single zigzag at the time or as it now appear a double zigzag in prospect.

In subsequent published chart (see link below),I outline a possibility that as long as we held above the minor rising trendline and 380 it has a chance of moving up to 480 – 500 area.

So now that we held the 380 and minor up trendline referred to above breaking above 500 I think the price action is little more clearer which I present here as follows:

Technical Summary
1. Taking a look at the price chart with 3 day period, note the double zigzag decline from Nov 2013 to Jan 2015 low appears to have completed larger zigzag. From where we are progressing in possible double zigzag retracement move to the upside shown in up trend channel.
2. On Second chart also of 3 day period, we can see interesting price interacting with the Schiff Pitchfork lower parallel and 50% line of the median and lower parallel shown with wave count in which we are progressing in second minor zigzag of wave ((y)) which commenced from low of 16th January and in final swing wave “c”.
3. If the above is true then we could have full 5 wave move with the wave 1 close to completing in the area of 550 being approx 38.2% retracement of the entire decline from Nov 2013 to Jan 2015.
4. On this 3 day time frame chart we also note possible divergence could develop in the MACD and even RSI.
5. On the daily time frame chart above, you can see that we have minimum requirement in that wave c is close to completing minor 5 wave and could top out in the 550 zone noted above. However, provided we hold above $490 - $500 level, I think it is more likely, that we will get full larger 5 waves which could lead the price to peak around $670 and even spike into 700 -720 area.
6. This double zigzag completion would open the prospect of another large bearish reversal that could result in decline to 200 -220 area though more likley to go and retest the Jan 2015 low or make new lower low.

Other features and details are explained in:
Youtube video link - https://youtu.be/0V6-QYfus_I
Google+ Link -

Conclusion: Provided we hold above $490 - $500 zone on pull, look for larger 5 move up to nest Fib level (61.8% retracement) at around $670 with possibility that spike high could form into $700 - $720 area.

Therefore in the intermediate term a bullish bias appropriate.

Warning: This is my interpretation of price action using TA approach that I consider helps me the most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views. 

For those who appreciates my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others and follow me on my Youtube channel and Google+ . If you have an alternative idea then please be constructive and share for all to learn from. 

Thank you for taking the time to read my analysis. 

DanV 
danv-charting.com
BTCUSD, 30 Short
0 151
We can see a nicely formed 5 waves down, which are marked here as "a". Wave "b" is deep and gives a perfect Risk/Reward Ratio.
SL is 545 $. First goal is around 480 $
LTCUSD, W Long
0 104
If this is indeed the midst of a larger impulse...

We are within 3 of 3 to some degree where 2 had been a double combination correction.
This was mimicked nicely on lower TF's into current move. (See linked chart)
Target as pictured - could easily over extend.

*Note:
-12/26 EMA unable to penetrate downard.
XAUUSD, 120 Neutral
0 42
Gold continued to slide down, breaking the channel that holds the correction that started since February.
We believe that bears' movement is limited towards 1197-1190 before price rises once again.

Happy trading traders!
GBPUSD, 240 Short
0 41
What type of a correction is in progress? Too early to conclude. But there is high probability for an impulse wave down to reach the bottom of the corrective structure. Then I am rooting for the correction to continue further. If price reaches this bottom structure, we will know by then if price wants to break out to the down side or turn back up for an interesting long trade.
AUDUSD, M Long
0 105
I introduce you my analysis based on Elliott theory. Please comment, any response is welcomed.
EURUSD, D Long
0 50
It appears that with PA bouncing inside the channel we have a long position forming. This also corresponds with some Elliott Wave theory but im not going to get into that right now.

It is already in somewhat of an uptrend if youlook back a year or so, I always like to take positions with the trend.

Risk management is key, as always!!

XAGUSD, D Long
0 37
1) EW analysis shows that C= 1.618 * A = 15.75 = 0.5 Fib of whole move up. We are possibly in the last 5th wave down.
2) Trendline support at 15.50

These are potential areas of demand.
XAUUSD, 240 Neutral
0 49
Long term gold technical analysis .
the green horizontal line is a critical support . Breaking it down then retesting it would be a sign of a strong bearish move. .
However, The break up of the red triangle would be a sign for a bullish move to complete that corrective abcde structure in which you can go long after the break up of those correction patterns that maybe formed whatever they will be !!

if price break up the red triangle and couldn't far to point e and then went down and broke the line horizontal green support , that may indicate the beginning of a strong impulse wave 3 in the down direction in which the targets will be calculated with respect to the five waves formed in the red triangle which will be then all combined equals wave 1 of a bearish market Elliot wave !
NZDJPY, 60 Short
0 13
Talking Points:


NZDJPY Technical Strategy: Bearish
Elliottwave Count: Down Trend resumption for wave3


Pair is having all bearish view in last day of month. As we are only 1 day left in month end and monthly candle is still below the bullish trendline which suggest us a bearish view and keeping bearish bet on trade signal. Here are few charts which are very interesting.

Monthly View:
If below chart confirm month close below the trendline which confirm bearish dark cloud cover and look for more downside in coming days. Wave3 target for this pair is on 67 - 65 range.
HTTPS://WWW.TRADINGVIEW.COM/X/GTICCQ5N/

Daily View:
This chart is also interesting as we have evening star confirm evening star pattern, which is reversal pattern on daily chart indicating bearish view. Also same time, pair is able to close out of bullish corrective channel, This is boosting our bearish view.

HTTPS://WWW.TRADINGVIEW.COM/X/ASZPNMVD/

Hourly View:
This chart is on 1 hours period but having very interesting data to observe. Pair created bearish candle and waiting for break on bullish trendline. So in this case, we are expecting gap down below the bullish trendline and want to see below 73 levels on opening session.

HTTPS://WWW.TRADINGVIEW.COM/X/B4HRMMGF/
EURUSD, D Neutral
0 78
Becarefull about FED interest rate decision
USOIL, D Short
6 344
WTI completing its last wave soon. It looks very strongly like an elliot wave A-B-C pattern. Fib extension 1.618 fits also very well to the picture. Additionally, there are some strong supply zones coming ahead. Furthermore, Awesome Oscillator shows that WTI is indeed loosing its momentum and RSI signaling alarmingly.
USDCAD, 120 Short
1 50
usd cad make correction and with elliot wave we have 3 waves
the second down wave is started to 1.2741
sl: 1.3140
EURUSD, 240 Long
0 423
Buy ,when break 1.11600

tp1 1.12400
tp2 1.13100
tp3 1.14200


www.forexerer.com

https://twitter.com/Erer_Forex
BTCUSD, W Long
31 18888
Currently we have just finished a major market bull move (2-1200) and its subsequent bear move correction (1200-150). No new lows for 9 months. The bear market is over.

Now we are in a quiet, flat period of quiet. Quite similar to that of April 2012, not only in price action but more importantly in popular sentiment. Bubble fever is emotionally dead, people at Bitcoin meets and conferences no longer gush excitedly about financial success.

Fractal self-similarity shows that if this is indeed 2012 deja-vu, the future price path shall take us to $600 within 1 year (wave 1), $13000 within 2 years (wave 3) and possible wave 5 extensions after that.

Recall my previous Elliot Wave possibility of $120k.
SPX, D Neutral
1 312
Let's see if 2111.05 holds. Hopefully, it doesn't hold, enabling the market to go for a new all time high.