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Short FTSE100 - Clean ABCSee above the buy limit order I have set up for the FTSE From the Macro analysis I published in my last idea, I am expecting some downside for the FTSE over the next couple of months. Now to find a good entry! As stated previously, I can see a test of the lower bound of the ending diagonal. EWT suggest we has just completed Wave C-1, currently in wave C-2 - a pullback to the 50% fib here is standard - h4 50/100/200 ma's have clustered just above the 618 fib. I have front run my order slightly due the the most recent strong bearish move to the downside. Lets see can I get filled. Good R:R for this trade. Once, my order is filled I will move my stop up to just above the local high to reduce my risk on the trade and increase the R:R. Best of luck! For more in-depth Analysis join me at - t.me or follow me on twitter @ColGal92
TVC:UKXShort
by ColinGallaghere5
1
Elliot Wave Theory: Degrees, Basic structure and Fractals (pt.1)I am going to start posting a visual guide to Elliot Wave since a lot of people ask me about where they can learn Elliot Wave theory, and many complain about how long it usually takes. So with this I hope I can simplify the theory for you. This theory works very well in financial markets as well as cryptocurrency markets (not /BTC but /USD) Introduction : Elliot Wave theory was developed by R.N. Elliot and popularized by Richard Pretcher. This theory claims that crowd behaviour moves in clear trends. Elliot identified a certain structure to price movements in financial markets. I will be explaining this theory and most structures in a somewhat simplified version in the upcoming ideas, so this is pt.1, in these parts we will cover: Basic structures, Degree of waves, Fractal nature of markets, Wave personality, Impulse/Motive waves, Corrective waves, Fibonacci projections and retracements, cycle of markets in relation to Elliot Wave Theory, The right look, Percentages, and Fibonacci relationships, Rules, Guidelines and more. I am making this series to help those unfamiliar with Elliot Wave theory, for those who might be struggling in it to get a visual understanding, and for those who might be too impatient to read through the entire book. Many are quick to brush off Elliot Wave theory as hocus pocus because they do not take the time to remember the patterns, rules, and other things then try to apply them to real-time charts without the needed knowledge, however I guarantee you if you take the time to memorize these patterns and apply them to the charts in front of you while using proper rules, etc. you will be able to predict most price moves in real-time. Basic structure : The basic structure I have shown is based off of a "normal" 8 wave structure which has an extended wave 3, and as we know markets can behave irrationally and not follow the norm, sometimes there are complex corrections and non-typical extensions, but we will cover that in further posts. Leave a like if you wish to follow this series, every update will be posted below.
BITFINEX:BTCUSDEducation
by Godly
26
Strengthen Wave V, and Diffusion triangle is forming, Short UJReasons: A. FX:USDJPY The wave V of diffusion triangle is working, and short-term bearish trend still intact. B. The fall rhythm is great, showing the Fibo retracement 61.8% level is currently not enough to stop the downward trend. Morever, a downward gap occurred on Monday which predict trend contiune to fall. C. The weekly chart shows the candlestick bearish combination form, and what’s important, the profit/loss ratio exceeding 1.5.
Short
by Ben037
Contraction triangle completed,continue downward trend. Short UJReason: A. FOREXCOM:USDJPY The contraction triangle adjustment wave is basically completed, contiuing the downward trend since the peak of November 5, 2017; B. Wave e alwasys below the trend of rising trend line, showing that the momentum of the rally has been declining, and the short potential energy has gradually increased; C. Reasonable profit and loss ratio — with a defensive position above the downtrend line.
Short
by Ben037
SPX - clarity emergesSPX rallied strongly in what looked like a giant short squeeze and broke the green line (see previous idea). Also spiked above the melt-up channel. So that only leaves 1 bear option and one bull. After the spike above the melt-up channel, it reversed strongly and now broke below it. Which is a bearish reversal, in my view. Lows at red "or 3/C" should be taken out before market makes another high above blue "2/B". My preferred count is in blue - a complex flat for a 2/B wave, with 3/C down to follow. In red the alt count is shown. What is interesting is that the cycles over at mcm point to an important moment reached in the o/n. The currently painted high at 75 ES and ~83 SPX will be hard to be overtaken. mcm-ct.com
FX:SPX500Short
by alx13
SPX - decision point approachingThe picture is still bearish following the Brexit crash, but lots of options on the table as of now. We have 3 waves into the lows, so the bullish option is that a simple a-b-c correction finished at the lows and now we should go up (I see this as the underdog as of now). 2 bearish options open now: - most bearish is a bear nest - a series of 1-2 waves which 3 of 3 coming once the current wave up is finishing - other option is for a complex flat wave for the 2nd wave... the red count shown. At the moment, I view one of the bear options as favourite. If the current wave finishes below the green horizontal line, it will be tough to say which one it was, but it wouldn't really matter near term since the lows should fall in both cases. The melt-up channel is interesting to watch for test of the up&lower TL in the mean time. Good luck to your trades!
FX:SPX500
by alx13
INDIGO ShortThis is my first post in tradingview. I am new to trading of any kind.I have been trying to find my way using EWT. I think the stock is in ABC (Corrective) mode at present. I am unable to figure out if its still in A or it has entered B. I can see divergence in MACD (a. top of wave 3 and wave 5 b. top of wave 5 and current stock position) I solicit a few things from this awesome forum: 1. Is my wave count (1-5) correct? 2. If yes, Should one enter into a position to ride wave C? 3. If yes, what would be the strategy for that? 4. Also, I see the stock travelling within a band as shown. Does it have any significance? Thanks
BSE:INDIGOShort
by Withoutshoes339