Is the market breaking out or still correcting? I can make a case for 5 waves up from March with a correction that potentially started in September. This could also be the start of wave #5 which puts price a good bit higher. I cannot determine that yet- price would need to drop hard very soon to convince me of a continued correction. There's just one red flag on...
Here is a link to Scott Carney's own web-page, supposedly something he has written himself:
I want to outline something interesting here. I quote from the article above:
'' It is important to note that there are others who have assigned different Fibonacci numbers to the framework of the Gartley...
BALAMINES completed 5 wave impulse move and now in 3 wave correction mode. it also formed double top at 900 level. however it has seen buying interest at 760-800 levels, closing below 760 on daily basis it will bring the stock to 650 levels.
Weak economic data and pressures on the oil market are taking a toll on the CAD as it continues to find it difficult to raise the bar. The sharp fall after reaching a peak of 0.70000 appears to hold ground.
Tendency: Uptrend ( Bullish )
Structure: Trendline | Supply & Demand| Reversal Pattern (Head and Shoulder)
Observation: i. Even...
With fresh stock splits, tightening election polls, eviction madness about to start, more schools open, the Fed, Congressional inaction, COVID positivity rates ready to climb, and maybe football, The first 2 weeks in September will bump lower.
I am not using those events to justify the analysis but the catalyst could be in there somewhere. I am using enhanced...
The stock market is on the verge of an epic collapse set to occur now. The greatest depression in global economies that any of us have or will see is here according to this accurate model. My 'crystal ball' is not based on the quarantined talking heads filling air time with circular-referenced positivity in an utterly negative market.
Some loyal readers are...
Hello traders and analysts,
Here is our take on the Elliot wave 5 wave, now a larger 3 wave correction needed to take place? .
We have completed the the downward impulse of the wave pattern 1-5, with all waves forming without breaking the structure.
we are now in the minor wave 2 structure. and next up is the 5 wave corrective structure and looking...
Good Day all, CURRENCYCOM:US100
Currently we have finally broken the middle Support trendline and we are so far just a few days from the market mover cycle finishing again as previously mentioned. We did reach our previous major swing very fast leading to consolidation for few days. I am currently seeing more short in the form of either straight down to bottom...
We are looking at Inverse purchases
QQQ long unit trust position is reaching $250 at a max, needing a strong correction. This double top scenario is looking plausible.
This is not a signal, price will change and according to the rules of your plan, trade when price aligns to your levels.
Swing low - lowest ever price, creating double bottom to...
The market is in uptrend reaching the price on the resistance at 39.38, following clearly the first five Elliot's waves.
We expect a short sideway completing 3 more correction waves.
Our first entry price (Short) could be when the market break the support at 35.00, taking a profit on the next support at about 31.00.
Our second entry price (Long) could be if the...
Hi there, here's another idea on Wereldhave.
In our previous post we saw that a correction wave was coming up and that it would hit the 20MA on the 1 hours time-frame. Well it did, now the next few hours might bring the chart up again. Considering other moving averages ar also still pointing upwards.
I'd suggest opening a small buy position now, and another one...
Eurnzd has created a wedge pattern. We can expect either a breakout or a reversal.
Breakout - The resistance has many touches and price action seems like it wanted to break off its resistance as it made higher lows
Reversal/Correction - Euro kiwi might not breakout this week but maybe later or sooner. Intraday, it made an impulse wave and we can...
AUDUSD has done the impulse wave and finished the 5th wave at around 0.6550. Made it a top and traded in the range for two weeks. And it now made a double top this last trading week which shows weakness of the trend. We can expect a correction until it reach the 618 fib retracement which is pretty significant level.
You can like and comment of my...