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As far as I see we are in the middle of a smaller b wave within an abc pattern forming a bigger b wave ending around 96,01 (61,8% of the bigger a wave).
From there it might be a good idea to short again to at least 93,74 (27,2% ext. of the bigger a wave) or even down to 92,85 (61,8% ext. of the bigger a wave)
completing the abc correction pattern and kick of the ...
Currently moving down Wave 5 of C Wave
Im a stickler for big titles..lol this is my approach to looking at the potential reversal zone or completion zone for BTC.
the fib Extension of the previous C wave of the 1st Corrective Structure is what I am using. I believe that if we are indeed in a C Wave of a correction,,, then it should retrace to at least the 127. Extension of the previous C leg. As we ...
-BULLISH TRENDLINE BREAK
-ENTRY AT THE BREAK OF THE MOST RECENT SUPPORT WITH STOP AT THE NEW LOWER HIGH
- POSSIBLE C WAVE CORRECTION
ETHUSD Update: Corrective wave in play with one more leg to complete which can lead to a retest of the low 300's. A break above 334 will signal the next leg up is in progress.
In terms of wave count, we are in the C wave of subwave 2. C waves are usually impulse patterns and often make people uncomfortable. We have nothing to worry about because upon completion ...
The FX:EURUSD is beginning to form a head and shoulder pattern. I will stay alert.
Overall I think that FX:EURUSD is going up but a small correction will occur before. It is also a clear C wave if you are wave trading.
we'll see how it goes
USD Index look like it is ready to fall based on the fib and the wave pattern. The only question i'd like to know is 'is it ready?'
1. From the top, there is a clear and clean 5 wave impulse down.
2. From the bottom, I have marked out a fairly clear corrective Flat (5-3-5) wave structure.
3. Of the corrective ZZ, A vs C ratio has ...
As forecasted, I was expecting a final USD fight back for the next few weeks and it has definitely started turning with a sharp fall which I have labelled as wave C. Below is a quick update of my count and summary of what I am expecting this pair to do over the coming weeks.
Starting from the low at 1.03411
Wave 1: Leading Diagonal impulse ...
See some more downside ''Possible C-wave'' completion
Potential move up near-term..
Watch for possible ''ending diagonal''
on lower time frame for market reversal
If the pair closes above the pennant formation, will be a good buy opportunity. This pair is currently in the process of forming a c-wave that could extend up to 500 pips. Good luck out there.
USDCAD is looking to approach another sell area in its daily corrective move we have all been following so intently. There have been many setups on offer during this period and this short setup is by no means any different. Nevertheless I will touch on why, further down in this piece, this correction may be coming to an end!
If price doesn't move into no mans ...
Gold is in the C wave of an ABC correction. Obviously long term view is for the upside, but not before it reaches the lows - at least 1300.00
Learn basics of Elliott wave principle
A long term cycle ended. Its correction is in progress. Developing a double combo. First a flat ABC followed by a fast bullish X wave to connect both corrections. All this actually doesn't really matter.
What it does matter, is the second combo. It is a zigzag where we can see a 5 waves bear cycle that should be the A wave. We can expect a B wave with 3 wave that ...
go long for wave C
In correction wave becasue RR if you short but EUR have oppotunity for long again because most people want to short EU also EU can't to following downtrend for now
EURCAD has made a down move and was correcting for while which now has completed..It would go down around 1.5000 levels again to make C Wave move to complete the ABC correction. One can go short on the pair now with stoploss just above the high that was made..
In these time of uncertainty, it is very difficult to take a position on the equity markets.
I still think there is no reason to have a bigger correction than the one we have known in August, but I believe the market has to retest the lows before rallying again.
I think several scenarios/events could hit the market before the end of October. (2 possible FOMC ...