Flat correction / running or expanded /for wave iv /yellow /
Using Elliott Wave Theory as our guide, the recent weakness in GBPUSD is pushing it below the (ii)-(iv) support trend line. This is a bearish symptom that suggests a near term top has carved. Additionally, a wedge of this nature appears to be an ending diagonal. Ending diagonal's tend to fully retrace which means this market is ripe for a correction back to...
Just a quick video pre-market to show the massive gap up on our MRNA stocks swingtrading opportunity. The mantra to go away with today is "You Gotta Be In It To Win It" With a simple and repeatable stocks swing trading strategy, when all your requirements are met, you need to keep adding the trades as you will get these types of moves. Not everytime but "You...
My EWC suggests EU is taking a break to then resume lower and continue the correction.
Extension Pattern : By definition an extension occurs in an impulsive wave, where waves 1, 3 or 5 can be extended, being much longer than the other waves. It is quite common that one of these waves will extend, which is normally the third wave. The two other waves then tend to equal each other. In our pattern definitions we call it an Extension1 if the first...
In the DXY, it currently looks like we are in the last legs of the downward movement. Here, an implied EDT could be developing as a white v of the red (c). Thus, a downward wave would still be missing. The ideal target, the 1.00 extension, of the pink Y would be fairly close to the trendline drawn below. However, for me, a close below the last low would be enough...
MY EWC suggests further upside in BTC. Be careful, it won't last much longer!
Just as in the Dax, another high could be in store for the Dow. However, I think this scenario is more likely in the Dow. In this case, the Dow would also have only one more x built-in on Friday. I have rebuilt my count a little compared to the last post, by placing the red x of the orange (z) now on the low at 29430. In the now running yellow circled z we would...
In the Nasdaq, too, a further high currently seems more likely than the direct way down. But also here I would like to emphasize again that this is not a necessary and the last posted count until the break of the high is still valid. In the yellow y, we have already left the 1.00 extension behind us. However, I have noticed that unlike in many other markets, the...
All notes are written on the chart. Price targets and some proportions on chart may not exactly be accurate. I'm rather new to Elliot Wave, but I think I have a lot of it down and have used it to predict a lot of trades with significant success. Yesterday on Friday January 15th I was able to predict that we'd finish exactly at 25.50 as of 10am and we did, so I...
Due to the fall of the May contract into negative territory, oil can hardly be counted superordinate, as this is not provided in the EWT. Therefore, I have here only the last movement counters. Here it is not yet quite clear whether the final yellow (z) only the red w (here Alt. w) was completed or whether it was already completed. The 0.618 minimum target was...