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Elliottwavecorrection

Spotify Stock to Lose Half of its 2020 UptrendIs this a good time to join Spotify bulls? Let’s see how the situation looks like from an Elliott Wave perspective. The daily chart above puts Spotify advance from its December 2018 low in Elliott Wave context. The chart reveals that the uptrend from the 2018 low at $103.66 is shaped as a complete five-wave impulse.  The pattern is labeled 1-2-3-4-5, where the five sub-waves of wave 5 are also visible. There is also a good alternation between the correction, wave 2 is a time-consuming flat pattern that completed during the coronavirus panic of 2020, and wave 4 is a sharp zigzag move.  According to the theory, a three-wave correction follows every impulse. The corrective phase of the Elliott Wave cycle typically erases the entire progress achieved by the fifth wave. Applying this to SPOT stock makes us expect a decline back to the support of wave 4 near $220 a share . If this count is correct, a ~43% drop from the top at $387 seems to have just begun. The double bearish RSI divergence between waves 3 and 5 also indicates the bulls are running out of steam What's your view on Spotify Stock? Let me know in the comment section. Thanks for reading! Veejahbee.
NYSE:SPOTShort
by Veejahbee
3
Price targets for Wave up from 11k.NOT a professional, just a person who loves TA and is very very good at pattern recognition. Do your own due diligence and make your own decisions. This post is only for speculative/educational purposes. Consult a professional if needed. Good luck trading! If this post saved or made you money, please consider tipping and/or commenting as I lost a decent amount trying to trade this before I realized what was happening. I have another published idea which further explains things. -Wave is doing a large correction (prediction made 12am Feb 21) to 39500 - Wave 5 of higher Wave 3 is ending Diagonal, causing deep correction to 39600 (top of wave 1, it will finish below that if entire large wave is leading wave) - Predicting entire leg up from 11k is a leading diagonal. - Complete wave prediction: 77240 (could be less entire large wave IS a leading wave, as wave 4 will finish inside wave 2 area. Add 19700 to end of wave 4 to find wave 5. -Wave 5 will extend past wave 3 guaranteed. -Wave 3 was 68% of wave 1, applied same % to wave 3 to predict wave 5 (don't know if there are known numbers for this.
Short
by Stockguy0415
8
Deep ABC Downtrend forming! 1st Comment has link to chartLeading Diagonal (Elliot Wave) is forming on 1 hour time frame which will lead to a large downtrend, trade appropriately! I'm not a professional, just someone very good at seeing patterns and correlating data. Please use due diligence and do your own research/confirmations on this data. This information is for speculative/educational purposes. If this saved or made you some money, please consider tipping as I lost a decent chunk of money trading this unfortunately until I realized what was forming! Comment if this data was helpful. Good luck trading!
Short
by Stockguy0415
1
Bitcoin - I'd say.... Sell the news! The Tesla acquirement of Bitcoin was in january... why be bullish when it's not the rumor? Sell the news!! #BTC #Bitcoin I see a wave 5-3-3 with a 1.5 bill Tesla buy rumor hanging in the air. But the rumor is NEWS The acquirement was in January, so sell the news I'd say. Weekly 21 ma lacking behind at around 26.000$ I see a correction around the corner. The rest is on the chart.... ask if any questions! Possible wave 4 into wave 1... the whole nine yards. My sentiment: Neutral to bearish.... building a short position Happy trading!!!
COINBASE:BTCUSD
by CoinedByCrypto
5
DXY vs EUR/USD : Expressed by Elltiott Wave Structure 💡It is known that the Dollar and the Euro are inversely correlated, but What we found here is the Elliott Wave Structure that is respected by both currencies but in inverse way. If We look on the graphs we can see that the Euro is moving downward, however the DXY is rallying to smash previous highs. According to Elliott Wave Theory, Both currencies are in Wave C, which is the last wave in the cycle. Let's see in the next few days if the EUR/USD will reach the 1.1924 level and the DXY test the 92.13 mark. ------------------------------------------------------------------------------------- Please press “Like” if you appreciate the trading idea 👍 “Follow” for more trading ideas in the future 👀 “Comment” below to share your thoughts with us and other traders 👥 ------------------------------------------------------------------------------------- Risk Disclaimer: All trading ideas published by “collegeofpips” are for educational purposes only. These posts can help you to enhance your trading skills, but please do your own research before opening any trading position. ⚠️
by CollegeofPips
8