Zigzagpattern
📉📈 ZigZag IndicatorZigZag's primary goal is to focus on significant swings and trends by removing insignificant and misleading price changes.
ZigZag connects the price's highest and lowest points using straight lines while ignoring minor swings.
ZigZag just aims to make sense of the market's previous movements; it makes no attempt to predict the price of an item.
It is only based on hindsight and is not predictive in any way. It is based on the past prices of securities and cannot forecast the next swing highs and swing lows.
🟢Advantages
It eliminates market noise and displays the most significant price fluctuations.
It operates in several timeframes.
When utilized in cooperation with other technical indicators, it gives positive results.
🔴Disadvantages
It will mark the latest high or low of the price with a time lag.
The last stretch of the indicator (the one that involves the current price) may be redrawn.
Not predictive in any way, has to be used in combination of other strategies to be effective.
👤 @AlgoBuddy
📅 Daily Ideas about market update, psychology & indicators
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USDCAD sell limit for mondayUSDCAD will go down tomoŕrow, because in 2 days daily candle no power to go high.
TP at support 22 nov, and SL at fibo 61%.
EURGBP short todayEURGBP short today, maybe continue until monday.
With support resistance and zigzag, EURGBP will bearish.
EURGBP H4 buy stopEURGBP H4 not yet shown zigzag 100.
I was trap buy stop at resistance yesterday.
TP and SL at the pic.
AUDJPY long H1After bullish at friday, monday is possible to bullish again.
i will buying at the morning or at europe session.
USDCHF short H1After bearest at friday, USDCHF is possible to fall again.
i will selling at the morning or at europe session.
EURUSD long H1After yesterday bullish, at monday is posibble to get running bull.
I will buying at the morning or at europe session.
AUDUSD long after friday bullishAUDUSD H1 not yet shown zigzag 100.
I will buy position tomorrow morning.
USDCAD short until next weekAfter H1 candle bear, i predict that USDCAD will go down to nearest Support.
If continue, will go down to 3200 area.
EURCAD Short Position, just for next dayEURCAD will go down after yesterday pulldown at middle BB H4.
EURGBP D1 shortZigzag at D1 not yet appear.
Price now Fibonacci D1 passed 61%.
So it is possible to continue the movement to the nearest support.
Sell limit at 8630.
NZDJPY Daily, will go upRisk reward ratio at picture is not good.
Yeah really not good.
But i think it's big opportunities to get reach the target, minimum TP1.
GBPAUD H4 long position, TP at near resistantThis is my first public idea.
I use Zigzag indicator with Bollinger Bands.
GBPAUD will up again, go to near resistant.
You can buy anytime when market opened.
But i prefer buy when europe or american session opened.
Chiliz Analysis for Mid-TermHi all.
lets take a look at CHZ altcoin.
according to its growing platform and awsome plans for FIFA World Cup 2020 Qatar.
lets analyze it with Elliot waves:
CHZ starts an impulsive wave from 18 june 2020 and after end its 1st and 3rd wave
its near the end of wave 4th and will start the last 5th wave in coming days.
like you can see in my chart we are completing the B wave of 4th wave and it seems to be
a Zigzag(5-3-5).
after that wave C starts and according to bearish condition of the market i think wave 4th end in
0.16 level , a strong support level near 200MA and 100% level of fibo projection of wave A.
after we reach this level i think wave 5th starts and the target is 0.2280 or more.
if you take a position or purchase CHZ at spot market please dont forget to set a stoploss
below the support level.
wait for the end of wave C and after that you can enter this amazing altcoin.
hope all of you have good trades and protect your capitals.
thanks for reading my idea.
share me your opinion in comments and make me happy.
Bitcoin Movement Prediction Based On Elliot WaveIn this scenario I think we are still on Wave IV of big Wave.
Chances of the pattern are:
- Flat
- ZigZag
- Expanded Flat
The invalidation of Flat & Zig Zag is at 18125
The invalidation of Expanded Flat is at 15575
If these 2 major invalidation line is broken then the scenario is invalid.
BTCI think btc may be finishing this 5 wave move as part of a zig zag which is correcting the larger wave 1.
IF wave 5 is still not over than it will most likely hit one of those points before coming back down to do the abc.
