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Elliottwavecorrection

EURNZD Trade Idea - Elliott WaveLet’s discuss the price chart of the EURNZD currency pair based on the 120 minute timeframe. From the Elliott Wave perspective, the price action is moving in a corrective channel within Wave (iv). It is approaching a critical Fibonacci retracement level of .618 which should act as resistance. From the Hurst Cycles perspective, the composite model line which measures the combined cyclical pressure, topped on April 1st (red vertical line), and is projected to form a bottom on April 25th. Based on this, we can expect prices to break below the corrective channel and head lower from there. Beyond that the low of Wave (iii) will act as an important support level, however, this leg down which would be wave (v) should ultimately break below this level. If you find this analysis useful, make sure to press the “Like” button and comment.
Short
by ForexTrainingGroup
FB: Buy zone is 205-210FB just completed a 5-wave move off the low. This is a good sign that the stock has indeed bottomed. What comes next is the W-2 pullback. The standard fibonacci retracement targets for a pullback are .5 and .618, which translates to a buy zone of 205-210. There are also bearish divergences in MACD and RSI, indicating that the uptrend is exhausted. I do not own shares of FB, but if I did, I would be selling covered calls against my shares to protect my downside over the next week or so. FB should reach about the $300-$350 region this year.
FShort
by TomDaSpankEngine
ALLY Wave 4 Completed?Hello everyone, I wanted to share with you all what I'm seeing with ally. I believe Ally has completed a flat wave 4 correction. I have outlined 2 pink lines, one will invalidate the flat correction thesis and the other will validated. In other words if Ally breaks and closes below $44 the pattern will be invalidated and a larger correction will probably be in play ; on the other hand if ally breaks and closes above $49 the pattern will be valid and longs should be considered. I hope this helps some of you. I'm not a financial advisor, I'm only sharing what I'm doing. Good luck everyone!
NYSE:ALLY
by FreedomBuilder
XAUUSD Elliott Wave Forecast - Wave C UpdateAs previously mentioned, price should now be in Wave iii of C (please refer to linked idea below). Following the lower degree wave 1 of iii, the lower degree wave 2 of iii is currently being printed. This is commonly a Zigzag resembling a 5-3-5 wave structure. We saw the initial 5 waves form during the earlier part of this week. The 3 waves of the 5-3-5 now also appear complete with wave (C) reaching the 123.6% of wave A. The final 5 waves of the 5-3-5 should now follow, either in an impulse or diagonal. The near term price objectives for these final 5 waves are 1816 and 1825. A further extension towards 1836 is possible and also a level where price should see stronger resistance if reached. Please do leave your thoughts in a comment below. As always, your support with a 'like' or 'follow' is much appreciated. Thank you for taking the time. BeyondEdge Your Edge Is Your Perception. Go Beyond.
OANDA:XAUUSDLong
by BeyondEdge
5
BTCUSD Elliott Wave Forecast - Wave 4 Correction (alternate)The chart depicts my alternate count for the current Wave 4 correction. I believe we are in the final impulse sub wave C which is close to completion. For those of you who are unfamiliar with this; a flat correction, be it Regular, Expanded or Running all consist of a 3-3-5 wave structure (ABC). As BTC had printed a more complex correction for Wave 2, alternation guidelines concerning Waves 2 and 4 would allude to a simple correction for this ongoing Wave 4. The simple correction here is in the form of a Running Flat. Please see linked idea below for the Expanded Flat scenario. I am currently leaning towards this alternate count. The Expanded Flat scenario will only take precedence should price drop below 28.6k. If this level is breached, we can expect further depreciation towards the 24k-25k level. I hope you found this useful, do leave your thoughts in a comment below. As always, a 'like' and 'follow' is much appreciated and provides encouragement to share further ideas. Thank you for taking the time. BeyondEdge Your Edge Is Your Perception. Go Beyond.
BITSTAMP:BTCUSD
by BeyondEdge
1