Hello my dear friends,
Bitcoin now have a very good setup with bearish momentum withdrawing and in front of resistance.
Wait prices to close above the resistance and we would target higher levels.
Of course if we went into our alternative scenario, only then I'll update this idea.
Good luck and to be updated..
We have already said a lot during yesterday's session (see chart below), the uptrend may need some consolidation or it could be a real reversal as it happened in the past. With this in mind, we show our idea about impulsive waves, and from a technical point of view we do not exclude a return around wave (IV).
Yesterday we published our bearish setup on the daily...
The price movement for the EUR/CAD has been constrained by several channels and overlapping price action over the past few years. The above chart visualizes the WEEKLY price action of EURCAD from August 2012 low. As visible, its structure can be best labeled as a "W-X-Y" double three/combination Elliot Wave pattern.
The advance from August 2012 and March 2014...
Good morning Traders!
The trend remains bullish on weekly chart, but from our point of view, we expect an important pullback, with a potential return to 0.8810 area to test the trendline. At the moment the pair is working a wave 5.
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In the chart above, we could see the price breakout of a w-x-y-x-z corrective structure trendline and made an impulsive move to the downside.
According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulsive move after which price resumes in the direction of the impulsive.
In USDCAD's case, it seems to unfold as a w-x-y...
In today's #marketinsights video recording I analyse #fxmajors #audusd, #gbpusd and #eurusd.
They are all under pressure for different reasons:
- ECB's Lane dovish on ECB's inflation target
- Italian CPI weakening
- BoJo goes to Brussels empty-handed
- Brussels not sure if extension will help
- RBA reveals plans to cut more if necessary
After some deliberation and careful consideration, I believe MATIC/USDT has begun corrective wave formation (and why wouldn't it? It loves following big brother BTC).
I have marked out the impulse Elliott waves it has completed and I foresee it needing to get to an oversold status (stoch RSI decline) before starting the next wave.
Hello, I would like you guys just see how clean this 61.8 hit from the all-time high of nearly 20000. The golden ratio is just golden.
Now I say this strong move was just the first wave of the next big wave coming. Bitcoin is currently on correction and I purpose much bigger correction. Fundamentally, no big news is coming later. As this triangle break out to the...
Short term Elliott Wave view suggests the rally in S&P 500 SPX from August 6, 2019 low is unfolding as an impulse Elliott Wave structure. In the chart below, we can see wave (1) ended at 2943.31 and wave (2) pullback ended at 2834.97. Internal subdivision of wave (2) unfolded as a running Flat. Wave A ended at 2825.51, wave B ended at 2939.08 and wave C of (2)...
This overall needs more downside to me, but for now I like this look of this harmonic. Let it correct and around London session I will look to do something. Entered the other day and I will hold it, I am looking for another position. Current position should yield 320 pips.
Several possibilities of trades in each direction, also I talking about very important rules of the Elliot Wave Theory:
Impulse wave definition
corrective wave definition
leading diagonal definition
alternation rule by Elliot Theory
Please make your self comfortable and enjoy, if you have any questions or enlightenment, please comment and...
The bears have been in control of EURUSD during most of 2018 and still maintaining the authority in 2019, as well. The EURUSD declined from its February 2018 high of 1.25534 to as low as 1.10310 in July 2019. The bears can be proud of the total gain of over 1500 pips they managed to achieve. Unfortunately, “no trend lasts forever.” After such an intense sell-off...
BTCUSD is trading at an area that could offer significant support. Breaking decisively out of wave (b)'s corrective price channel give us reason to favor more bullish scenarios, and it should stage a wave (c) advance. Wave (c) should travel at least the same distance as wave (a) and more likely 1.236x that distance - around $11500 area.
In the bigger picture, Bitcoin has been in sideways consolidation since topping out at $13880 on June 26. It did a 3 waves pullback to $9049.54 on July 17 and since then has been sideways. Further correction in larger degree can’t be ruled out as a double zigzag structure from June 26 high, but the crypto-currency needs to break below $9049.54 to validate this...