seems like a wxy correction.
We are at the end of correction in wave C of (X) before the strong upside reversal in wave (Y) of ((X)).
XMRBTC has been in a week long down trend as labeled on the chart as Wave Y. The two purple lines outline the downtrend channel. Notice how it reached the top of the downtrend line twice previously and was rejected. We are currently on a potential breakout hourly candle. For the first time, we have passed above the top trend line and with an hourly candle...
With my update yesterday, everything started well then things started to run out of steam. As I mentioned in my update yesterday, if we cannot reach at least 0.0220 by the time that the hourly RSI rolls over then we'd need to re-evaluate. We got close, reaching 0.0219 but then we ran out of steam and momentum rolled over. Hopefully everyone followed my advice...
USOIL Daily chart is at a critical point as it reaches the 61.8% Fib retracement of the correction so far. The important thing to note is if the WXY correction is complete and if bullish momentum dies at the trendline, we might get the Z wave. On the other hand if price breaks out of the corrective structure with conviction, then it will be a bullish impulse. Of...
It may not seem much. But here is the forecast till the end of 2017.
This is my preferred count for USDCAD - obviously expecting a Flat to complete the triple-three C wave. I say preferred because there is a possibility of an ending diagonal (replacing the overall WXYXZ structure) as the Y wave of Cycle degree. Learn more about Elliott waves
Our last post highlighted the idea that Wave (E) may not have been completed (see related link) and it appears that alternative has come to fruition. We were expecting a move down to the 61.8% fib ratio of Wave (C) but we have moved well past that. The next target would be $613.58 which we may have just hit (or almost hit) while I am typing this. This would...
although this is a trade within correction, but the risk to reward ratio is good enough for taking the risk.
complex correction is about to end. I think this anticipated down wave is going to complete a bigger flat correction as wave X of daily TF. If this triangle broke to the upside, then there is one more wave to upside and reverse to downside
Identical pattern of the WXY correction last week. Only smaller this time. Obviously the resulting impulse too will be shorter than the last weeks.
Elliott wave WXY Double three combination seems to be completed with a ZigZag and a running flat. So is the 3rd wave in progress? Read the Elliott wave principle for more information about the WXY double three correction. very likely so. But awaiting a corrective 2nd or 4th wave in a lwer degree is a good idea. The direction is clear in terms of Elliott wave...
USDCHF Elliott wave analysis on a weekly chart for longer term perspective.
Take a look at our GBPUSD wave analysis and forecast . This is of course a short term view of the GBPUSD. We were awaiting the completion of the 4th wave in a higher degree. Although our initial expectation of an ABC completion and the price target of 1.34000 levels has changed since todays break of the presumed B wave did not have enough stamina for a C wave...
Similar structure to AUDJPY. But this pair should have more momentum than AUDJPY. Another ABC down is a possibility. But with divergence there is a high probability that the correction is almost complete.
the whole (W) (X) (Y) combination correction looks like a double flat.
Anticipating one more wave to the downside. I was willing for a reversal to upside in my previous analysis, price made a trendy move to upside as expected but it's more looks like WXY correction rather than impulsive move, so it seems that still there is one more wave to downside to complete this complex corrective pattern (look at related idea link).