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Correctivestructure

EW Analysis: Ripple Doesn’t Show Any Bullish Signs, Yet!Hello everybody! Today we will talk about Ripple (XRPUSD)! As many cryptocurrencies, even Ripple made a strong five-wave rally in 2017, but in EW theory, after every five waves, a three-wave pullback follows! Well, seems like Ripple is trading now in that big and deep (A)-(B)-(C) correction for 2018 and probably even for 2019, ideally back to around previous wave (4), which is the most common support for a correction of a higher degree! And as you can see, there's still room for more weakness towards 0.20 - 0.13 support area, so current price action and long+sideways wave structure should be as part of a corrective wave (B), which we see it as a bearish triangle pattern! What we want to say is that despite bullish turn on many major cryptocurrencies, we still think that the bottom is not in place yet, especially because of that Ripple logarithmic scale chart, which has the same wave structure as it had Bitcoin in November last year! However, we believe that when Bitcoin turns down into a bigger correction, this is when Ripple may drop into a new 2-year low! That being said, we are currently observing a big bearish triangle in wave (B) that can take some time, ideally till the end of the 2019. And, once it fully completes, this is when it may send the price towards 0.20 – 0.13 support area for a wave (C) to complete that big three-wave corrective decline from all-time highs. Later then we can expect a strong bounce a bullish reversal! Be humble and trade smart! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BITSTAMP:XRPUSD
by ew-forecast
3
NIFTY50 WAVE ANALYSIS 10 JUN 19Hello Traders, Over all around world Equity markets are Gained some percentage in 2019, Nifty also gained nearly 15% from low of this year. But we looking in the medium term pattern Nifty in ABC corrective pattern. This ABC corrective pattern reaches its saturation point as per my point of view. I am looking for 12230 to 12250 level act as strong resistance and this to again 10000 level on second half of this year. My Entery Point On Coming Months: SIDE : SHORT Sell @ 12230 -- SL @ 13000 -- TP1 @ 10800 -- TP 2 @ 10000
NSE:NIFTYShort
by tidaltrader
EW Analysis: EURAUD In The Expanded Flat CorrectionHello traders! We want to share with you a pretty clear bearish pattern on EURAUD. Looking at the daily chart, we have seen a huge spike up to 1.6550 level at the beginning of 2019, which we think was the top of wave 5/C, especially due to the decline that followed later and which can be already as part of a bearish reversal! Looking at the 4-hour chart, after that big fall from highs, EURAUD was more or less sideways which more and more looks like a correction within downtrend. That said, we believe that EURAUD can be trading in a big expanded flat correction since we have seen a three-wave rally into a wave A) and then a complex corrective decline into a new low for wave B). So, current recovery must be as part of wave C), which should be made by five waves that can be either an impulse or maybe even slow overlapped wave structure within an ending diagonal (wedge pattern). However, we think that EURAUD is turning back above previous wave A swing high towards ideal 50%-61,8% Fibonacci retracement and 1.6150-1.6250 resistance area and this is where we expect bears to show up again! In case if goes higher or more complex, we remain bearish as long as it's trading beneath 1.6550 invalidation level! Trade well! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
DECISION TIME FOR BTC? IS THIS WAVE CORRECTIVE OR IMPULSIVE?It all comes down to this correction here. How deep we go will be able to tell us if we will find new lows once more. If we Correct no lower than a 0.382 of "3rd" wave, and particularly hang around the 0.236 before moving higher, then IMO this is without a doubt an impulse and we have likely seen the bottom. IF we break lower and find our continuation of trend lower, at a 0.382 or 0.5 retrace of this entire trend, this will confirm this pattern as entirely corrective. The grey area in in between these two 0.382 retraces as they are entirely similar, so how will we be able to tell that its corrective and not an impulsive 4th wave? The rule of alternation. If we have a zigzag correction here before heading up to our next upper targets, this will also be a confirmation of a corrective wave structure. And soon enough, we will find ourselves with new lows.
COINBASE:BTCUSD
by River-crypto
2
EW Analysis: BTCUSD Remains Bullish - Intraday UpdateHello traders! Let's talk about Bitcoin. Everyone is already turning bearish, but no one noticed a potential running triangle pattern. Well, Bitcoin is trading sideways for the last couple of days, which more and more looks like a correction in wave (iv) that can be either a running triangle pattern or maybe even a deeper three-wave setback down to 4650 support area in case if we see another decline. Currently, we can see a nice recovery away from that lower red line, so there's a good chance for a bullish continuation back to highs for wave (v) towards 5500 - 5700 or maybe even higher into 6000 area, especially if we consider strong supports across the Crypto market. Technically speaking, if BTC breaks back above 5200 region, then it may start accelerating even higher towards projected targets, but if we see another drop, then keep an eye on next 4650 support area. Invalidation level is still far away at 4000 level! However, both counts are bullish, so sooner or later we should see higher prices. Trade well! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BITSTAMP:BTCUSD
by ew-forecast
4