Hi. In this 1D chart I've done my first attempt at plotting an Elliott impulse wave and its corresponding correction wave.
If the right shoulder makes itself clear and the correction does proceed roughly as shown it would be a pretty clear sign of a new impulse wave starting.
Any points after (5) are speculation and should be treated as unsure and unfounded...
Chart says all. I do not pretend to know WTH is gonna happen tomorrow, can't even see 20 seconds into the future fgs.
IF this plays like I think it might, gonna get Beary Ugly PDQ. See divergent indicators; the major indexes also diverge, DJI at new ATH while this struggles back to the breakout point. Gonna reject under the TL IMO.
I'd short this in QQQ March...
Ok, there are two things I see here:
1) a rising channel, which is a bearish pattern whose target is indicated by the rectangle;
2) an impulsive EW formation which is over and an ABC correction in the process which should stop close to the target
so if 1+1 = 2 it should be it. Moreover indicators say this is a retracement. Let's wait and see.
Chart says most all. Expect lower low around 17K in late May or early June.
In 2008 and again in the two zig-zags of 2018, we saw the Elliott complex wave WXYXZ recur.
W is pretty clearly carved out, lol. X1 is nearly completed, or at completion. Short entry for Y.
Y has been a higher low, followed by a lower high at X2, giving the 'hunchbacked M' pattern which...
Intro: By now you should be sick of the 2014 vs 2018 BTC comparisons BUT there are uncanny parallels between these two corrections regarding their ABC corrections and the Fibonacci Extensions. Here's what I'm seeing:
1) Three Lower Lows in 2014 and 2018 create our A correction (Zig-Zag Pattern).
2) The A correction DROPS about 70% in both 2014 and 2018.
The daily chart of GBP/JPY indicates that the pair is in strong downtrend as it is consistently making lower lows.
The pair is in the process of forming a full Elliot wave.
As per our analysis, we expect the pair to form a ABC corrective pattern and so it is expected to be bearish until it reach 141.845 ,which is also the 1.272 fibonacci extension of the...
As you can see in the 1 hr timeframe, you'll see a downward trend emerging in a WXYXZ pattern with the Z hopefully play part in the formation.
Also drawn on the chart was a green support zone which indicates the market moving to the uptrend as the previous candles are touching this support line approximately 4-5 times.
This gives me enough indication that the...
Another elliot wave pattern. This one's almost textbook.
NTES completed an elliot wave pattern approximately two days ago, and should now enter its elliot corection wave phase.
Looking at its Fib retracement we see that the .786 lines up pretty closely with the end of the main impulse AND the gap up from two weeks ago, which makes a good price target for the...
Hello Guys, Catch this one, I'm expecting an upside breakout, it will be a good one. This is part of bigger correction on higher time frame i will post that one.cause it had broken out of consolidation: now its ready to shoot higher.
Looks line an expanded flat correction completed or nearing completion here. This could be monster move down with great R/R. I've closed 100 pips on Friday close and I'm only looking for short set ups on this pair! Give me a thumbs up if you like the idea and leave me some comments on what you are thinking! :D
*if you're new trader do not trade my set ups or...