About meHey guys! I'm a professional Elliot Wave and Technical Analyst with more than four years of experience.
My goal is to help aspiring traders with their trading and help them shorten their learning curve.
Bitcoin has been a pretty dead market for investors in the past few months. However, the current market structure looks interesting as BTCUSD is building momentum for a big move.
The chart above shows that Bitcoin's recent decline unfolded as a triple zigzag pattern. Wave z retested the wedge support line + strong demand zone.
We might see huge...
GBPUSD 4 hourly chart price action is printing one-two, one-two pattern which usually occurs at the beginning of a new trend.
Price is expected to continue higher in a third of a third wave in the days ahead.
Any further decline must stay above the 1.37425 invalidation level for this count to remain valid.
What's your view on GBPUSD? Let me know in...
GBPCHF has been trading in a tight range but its price action makes Elliott Wave sense.
After a strong impulse decline in wave A, a three-wave correction is expected before the bearish continuation.
This correction seems to be taking the shape of the Elliott Wave 3-3-5 expanded flat correction pattern. Price made a three-wave rally in the circled...
I have been bullish in my last few Bitcoin Elliott Wave analysis I published here. However, I'm having an alternative bearish view due to the recent price action.
The rally from $28798 low seems to be unfolding as a double zigzag correction. The first zigzag is completed and the second is in the making with its circled wave b unfolding as a triangle....
The bitcoin rally from $28798 low has been unfolding as a series of one-two sequences, which is usually the start of a bullish Elliott Wave impulse pattern.
Price is expected to continue higher in the third of a third wave, any further decline must stay above the $32671 invalidation level for this count to remain valid.
What's your view on BTC? Let...
EURUSD decline from the major high on the chart is taking the shape of a five-wave impulse sequence.
The sequence is not completed yet, and I'm a failed rally in wave iv to around 38.2 Fib before the resumption of wave black wave v.
What's your view on EURUSD? Let me know in the comment.
USDJPY has been making series of overlapping three-wave pattern. This pattern can be easily labeled in Elliott Wave as an ending diagonal.
Ending diagonal usually forms at the end of a trend and leads to an explosive reversal. If this count is correct, we should expect more weakness in USDJPY in the weeks ahead.
Target below the origin of the...
Gold has been trading sideways after a strong decline last week. This sideways price action fits for Elliott Wave triangle pattern which usually forms in the fourth wave.
If this count is correct, the price should break out of the pattern and head lower.
What's your view on Gold? Let me know in the comment.
Bitcoin decline from $64854 high unfolded as a classic Elliott Wave impulse pattern, labeled (i)-(ii)-(iii)-(iv)-(v).
Wave (iii) is the longest of the three impulse waves, wave (ii) is a sharp zigzag correction, and wave (iv) is a sideways double-three correction.
According to Elliott Wave theory, a three-wave correction in the opposite direction...
Bitcoin is heading lower to complete a five-wave sequence. The price seems to be in wave (iv) which is currently unfolding as a triangle pattern.
According to Elliott Wave theory, a triangle usually precedes the last move of a sequence. If this count is correct, we should see another leg lower in wave (v) before any major bullish reversal.
EURNZD has been in a corrective since February and seems to be topping out now.
The correction unfolded as a double zigzag pattern and the third zigzag is visible on this H4 chart above.
Wave c of (z) of 4 also unfolded as an ending diagonal which is a reversal pattern.
If this count is correct, any further rally must stay below the invalidation level on the...
Hi traders! Hope y'all having a great weekend.
Let's quickly take a look at the USDJPY 2 hourly chart. The decline from wave (y) high is very sharp and impulsive and breaks the previous bullish structure.
According to Elliott Wave theory, a three-wave correction follows every impulse before the market resume in the direction of the impulse.
The rally from...
Bitcoin rally from ~$31000 low unfolded as a five-wave impulse pattern. According to EW theory, a three-wave correction follows every impulse before the market resumes in the direction of the impulse.
If this count is correct, the Bitcoin price should resume higher once the correction is completed.
Any further decline must stay above the invalidation...
Gold rose higher sharply during the last NFP and the advance can be seen as an impulse in wave i of (v).
Price has been correcting the advance and the correction has retraced about 61.8% and is taking the shape of the zigzag pattern in wave ii.
I'm looking for the breakout of the corrective channel to position in a buy trade in Gold.
What's your view on Gold?
The last time I wrote about EURJPY, it was about to break out of the ending diagonal pattern.
A few days later, the price has broken the pattern and trade lower sharply in what can be seen as the first wave of the impulse.
According to EW theory, an impulse is followed by a correction before the price resumes in the direction of the impulse.
Last week, we take a look at the Bitcoin triangle pattern. The price has been making a series of (i)-(ii), i-ii sequences within the triangle converging trendline.
If the price manages the breached the green level on the chart, it will indicate a trend change. Price would have broken out of the triangle and should move swiftly to the downside in wave...
USDJPY decline from wave 5 high looks impulsive as there is no overlapping swing sequence.
According to Elliott Wave theory, a three-wave correction in the opposite direction follow every impulse move before the price resume in the direction of the impulse.
This correction seems to unfold as a double zigzag pattern, labeled (w)-(x)-(y). This...
The structure of Bitcoin's decline from the ~$64950 high has been taking the shape of the classic Elliott Wave five-wave impulse pattern.
Wave (iii) is very extended and its five sub-waves are really visible. The corrections are also following the guideline of alternation, wave (ii) is a sharp zigzag correction, and wave (iv) unfolded as a sideways...