The bears look to resume their push downwards it seems. Fresh new lows coming up in 2019 for eur/usd.
I do not like to talk in absolutes in technical analysis, I prefer to just ride the waves. With that said, the final move to the upside before the flat correction was impulsive. But the waves 4 and 1 intersect, it can not be a ending diagonal because that moves in zig zag fashion. So that leaves me with the leading diagonal, which appears in waves 1 and A. So that...
Coming off of the JPY flash crash we have a clear impulse, followed by more progression to the upside. My primary count is a flat and this current bull run being primary C of the flat. I believe this weeks moves to be a series of 1,2 1,2 moves that will take us into a explosive next week.
Very complex Elliot Wave count due to the choppy nature of price. If we break above my critical level plotted i can see this count making sense. If not it will be big bearish moves down.
From an Elliot Wave perspective I can say that the impulse downwards is complete and now we are in its correction. From the large corrective move we have had it looks to be a Flat correction, and we are in primary C now. So buying the dips is $$$.
From an Elliot Wave perspective we previously had an impulse downwards and now we are in a possible wave 2 correction. We had a very bullish move where it would have been expected if a flat correction were to form. Now it looks like we will either have a Running or Expanded Flat with a big move up on the CAD (cpi) news tomorrow. I expect the Asian markets to...
The entire EUR bull run last year may have been just a wave C in a flat correction in one higher degree. Since then we have had a text book impulse downwards and now we possibly could be in sub wave 2 of primary wave 3. We will find out shortly if we will be bull or bear for the long term.
From an Elliot Wave perspective using a logarithmic scale it is clear that btc is forming a zigzag correction. I believe we could drop to 1900usd/btc before a bull market appears.
From an Elliot Wave perspective on the Primary scale represented in yellow you may notice we are in a possible (Flat correction) Wave X. Or we could already be in wave Z which is the terminal wave for a triple combination. I plotted the Harmonics Bat with Wave B Expanded Flat ratios from Elliot Wave to show a zone of termination from two trading styles.
From an Elliot Wave perspective this is a very corrective move down, not the impulse I was looking for which indicates for me that there is a lot more upside in this correction before we have a big move down. If the drops down into the 0.786%-0.90% retrace-ment and has a bullish reaction its highly likely we have a big move up.
From an Elliot Wave perspective I see a good buying opportunity after the (RED) 4 plays out if everything goes according to plan. On a primary scale I believe this might just be wave A as you can observe on my left hand chart. Great intra-day moves to catch on this one.
High probability trade setup for this coming week. Clean impulse extended to the 1.618% and we are seeing a bull flag. I will buy the breakout. Good luck!
I believe us to be in a double correction here. Wave W was a Zigzag, and now Y is forming a 3,3,5 pattern. Textbook Elliot wave, alternation between corrective structures. 90% to 1.236% is the fib zone where this pair will go bullish. The next zone indicates our target. Goodluck!
I published this pair 2 weeks ago before the drop, now were near another entry zone. I believe we are seeing a Flat correction for wave 2. I will bet on a 5 wave impulse to the blue box and then a drop. Goodluck!
Current move up looks to be a diagonal, and the alternate of a diagonal is a wxyxz (triple combo). Diagonals retrace 0.786% so we can just see how it reacts to that level.
From an Elliot Wave perspective the move down is nearly mature. With a confirmed wave 3, I am estimating wave 5 ends within my blue box and we see a swift correction of this move down.
We have seen a terminal move (a ending diagonal) and an impulse followed. We are now at a juncture, with a possible wave 3 for a bull. Or a Leading Diagonal for the bearish perspective.
Very corrective move down, which gives confidence we will see around bull push.