Veejahbee

Veejahbee

Hi Traders, 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...

Veejahbee

Hi traders! 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.

Veejahbee

HI traders, 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...

Veejahbee

Hi Traders, 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.

Veejahbee

Hi Traders, 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...

Veejahbee

Hi Traders, 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. What's your...

Veejahbee

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...

Veejahbee

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...

Veejahbee

Hi Traders, 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...

Veejahbee

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?

Veejahbee

Hi Traders, 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. So the...

Veejahbee

Hi Traders, 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...

Veejahbee

Hi Traders, 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...

Veejahbee

Hi Traders, 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...

Veejahbee

EURJPY has just completed an ending diagonal pattern in wave (v) of 3. The price has the potential to break out of the diagonal trend line and head lower in three waves to complete wave 4. The breach of the invalidation level will invalidate the ending diagonal idea. Goodluck!

Veejahbee

GBPJPY has just completed a five-wave impulse to the upside and according to EW principle, a three-wave correction follows every impulse sequence. If this count is correct, a decline to the previous fourth wave low is plausible in circled wave iv. Do you think bears will take over on GJ? Let me know in the comment. Thanks for reading!

Veejahbee

Hi Traders, AUDJPY just completed a 5-3 wave cycle and the price has the potential to head lower in five-wave to complete the sequence. Wave A is a leading diagonal followed by a double ZigZag corrective pattern in wave B. According to EW theory, the market resumes in the direction of the five-wave sequence once a correction is completed. Price also retests the...

Veejahbee

The decline from 1.2654 high is taking the shape of a five-wave impulse pattern. The price seems to be in wave iv of the sequence and the corrective wave iv unfolded as a triangle. According to Elliott Wave theory, a triangle usually precedes the last swing of a sequence. If this count is correct, the price should extend lower to complete wave v of the...