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The decline from the Feb.’18 high of 1.2555 is identified as a counter-trend pattern (a)-(b)-(c) that ended primary wave 1(circle) from the early Jan.’17 rally. Since then, prices dropped rapidly to the late Aug.’18 low of 1.1301 whilst unfolding into a five-wave expanding-impulse pattern (a). Evidence of a five-wave impulse is usually enough to confirm ...
The pink count suggests wave c has completed a zigzag correction, sub wave b of the zigzag is a running flat.
Another solid push above wave b high could lead to a potential buy opportunity.
The March ’08 advance is labeled as a corrective upswing, a Zig-Zag pattern. Using Fib-price ratio model for this pattern combined with internal price measurements, we have three fib-price ratios converging, heightening the probability that the five-wave sequence (i)-(v) has ended within the last C-wave (circle) of the corrective Zig-Zag pattern indicating the ...
The previous post is getting too long, so I am starting a new post here.
A solid close below 112.042 (the end of wave iv of (c)) would suggest wave (c) has completed.
Alternatively, break above 113.176 would argue something else has been developing.
This is the next near harmonic as market keeps it's accumulation.
I bet my money on further price declines as I believe we are seeing a zigzag correction unfold. I project its wave B to reach a maximum of 50% of wave A because the latter was rather steep and, as Alexander Elder has wisely put it, "a man who's fallen from the second floor will not walk again for a while." That being said, I'm also conservative as to how far wave ...
Price has already broken the (B)-(D) trend line, I think the blue primary wave 5 is likely under way
simply a 5 waves up followed by 3 waves down, another lower degree sideways correction could signal a buy opportunity to catch the next impulsive rally
The moves look pretty messy but i believe eurusd will fall for another leg down to finish the current sequence
Divergence is present on lower timeframes and the wave count suggests another leg down before a bullish breakout
The bearish leg can be bigger but im setting usual targets for a normal C wave.
Since the short-term structure remains bearish, I am incline to wait for a selling opportunity to pop up
Guppy EMA produced a bullish signal which could be an early indication of wave (3) rally is under way
Note wave C of (2) stopped at $34.8 which is near the end of wave 4 of (1) & also close to 61.8% Fib level
Alternatively, the existing A-B-C decline only represents sub wave A(or W) of the larger degree wave (2)
It simply looks like a 3-waves correction (green a-b-c) after the initial impulsive rally (red wave 1 or a) .
The short -term bullish target could be re-test the red wave a high at 0.73818, the stop could be 1 pip below the previous low at 0.72025.
If we are lucky, this could be a wave 3 rally instead of c.
We got blindsided by a surprise bull run Friday 8/24 which seemed so unlikely I was horrified and amazed all at once.
In retrospect, some sort of rally was to be expected off the Thursday low prices, and I hedged my bets in case, but this was quite bullish indeed.
In spite of making a new high closing price on Sand P, US 30 did not confirm the high ...
Perfect zigzag, wait for confirmations to buy
I came up with three counts all lead to bearish potential
a red impulse followed by a triangle correction
a red impulse followed by a blue combination (w)-(x)-(y) where wave (y) is a triangle
a red impulse followed by an orange double zigzag (w)-(x)-(y) correction, where wave (x) is a triangle
a solid close below red wave (d) low at 0.73482 would favor the ...
I previously called a technical breakdown in INTC following the competition of the ascending triangle. INTC subsequently fell, but has not yet hit its full down-side price target and has rallied a bit. This is a textbook Elliot Wave zigzag correction pattern and for fundamental reasons I see the final leg of the correction about to breakout, once again to the ...
The daily chart shows a zigzag (VVVV) pattern.
N° 1st leg starting date Downtrend length 2nd leg starting date Uptrend length Old High New High %
1 22-03-18 5 sessions 28-03-18 15 sessions 55.25 56.28 +1.8%
2 18-04-18 9 sessions 30-04-18 ...
Analysis for swing traders
Without reversal pattern on top WTI long is not dead nor reversed. It chose to continue to zigzag the big rising channel. Steep rally no. Gentle rally yes. Take retracement as discount for long. This is now the game for investors and medium term traders. Speculators hoping for 0-100mph in 4 secs will be sorely tested.
There may be a ...