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Elliottwavecorrection

Elliott Wave Theory & BTC Decline/Bottom...??Haven't published in a while, and hardley ever use Elliott Wave as a trading hedge, but after some research , AND I SHOULD HAVE FINISHED THIS LAST NIGHT BEFORE TODAY'S DROP! I have found several ways to measure the BTC Bottom. 80%-85% drawdown from ATH on every bear market = $13175 Re-test last Bull Run highest Monthly close = $14000 Then there is the Elliott Wave Theory... 5 waves, with 3 larger down and 2 up like in the chart. Text Book Wave Theory states 1 and 5 are same percentage drawdown. This chart is -50%.... and 2 and 4 should be same percent bounce up. We have that confirmed at +43% & +45% Wave 3 down should be the biggest percent down...confirmed at -60% Zoom out to the 2Wk or the Monthly chart and you can easily see the wave counts and the similarities in the waves. Also play with the Chart Above to read stats Another way to estimate Elliot wave #5 down is to use a Fib Retracement from the previous low of #3 to the High of #4 extensions should be downward. The traditional wave #5 falls to the range between the 1.272 and the 1.414 ...Highlighted in the chart Now combine all the stats abd the 5 Day BBWP turning up and Stochastic turning down ...BTC should go lower Wave #5 should also have 3 inner waves, down first...Today's draw, possibly a bit more, then a bonce up and then further down to the area... where ALL HIGHLIGHTS CROSS ON CHART between $14600 & $15600 also be prepared for the 1.618 to be a wick at the 85% in the 13K bracket where the monthly closing high of the 2018 bull run hit Look at world markets and the DIXY too and OIL costs, the FED all that BullShit...they want all markets lower and more people unemployed and spending less money(ramble) We'll see how this pans out and revisit in a few weeks
BITSTAMP:BTCUSDShort
by Chefrusty
XRP Ripple Gearing Up For A CorrectionHey Everyone, Schyler here with NewWave Traders. In this chart I'm projecting XRP to experience a correction mid term with continued upside. This dip will be for buying in my opinion. Bearish divergence between the 3rd and 5th wave as well as wave structure supports this bias and some TDI signals on top of that. Let me know your thoughts in the comments below. Are you invested in XRP? Do you just trade it? Would you buy this dip I'm projecting? Look forward to your answers below.
Short
by NewWave_Traders
4
WTIOil in a bit of trouble here, likely entering a 6-10 month bear market correction. Downside target can hit the 618% of the entire 5 moves off the 2020 lows when WTI went negative. Currently a lower time frame A wave has bounced off the 618% fib retracement level of the 5th wave. But we must correct that entire 5 up not just the 5th wave. We should bounce into a B wave soon on the daily before making the larger C wave down close to $80. After that The HTF weekly A wave is complete and bounce again into HTF weekly B wave before finally nuking to $50 wave C to complete the entire move. You better BTFD IMHO guys because after this is done oil prices likely to run back turbo over $130.
FX:USOIL
by Big_Mike716
1
12 Year old Trades Elliot WavesAmazon ($AMZN) has gone through hard times as this 2022 crash has given a volatility issue in many stocks, especially tech. Trillions of dollars have been wiped out, but there was a sort of pattern between these stocks like ($AMZN). I discovered these patterns months ago, but I have decided to teach my knowledge. This has long-term issues since it's in the Day chart, fortunately, it's going into an uptrend since it has touched the Support level, and from now the stock will go up. The Elliot Wave was discovered by Ralph Elliot in his book the Dow Theory in 1938. The problem is that there is a trend in were the Market Psychology thinks that it will go up, and when there is a small crash there is a correction of the price, and it crashes until it's undervalued and people accumulate the stock.
NASDAQ:AMZNLong
by duckenterprises
1
XAUUSD H4 Intraday Long TradeTrade Plan Instrument: XAUUSD TImeframe: H4 Description, Price has been developing 5-wave cycles on Daily (see embedder analysis). Currently price is developing Wave 5 of internal 5th Wave visible on H4 (Dark blue). Apparently price is sitting at Monthly Support (price 1705.25) with Wave 3 of 5. Price is likely to visit 1746.73 -1753 area for Wave 4 of 5 before resuming bearish correction for completion of Wave 5 of 5. Plan 1: Intraday Buy back to Wave 4 (low Probability Trade) Plan 2: Wait for Price to complete Wave 4 before entering a Bearish swing to 1700 -1680 area. Disclaimer: Charts are EDUCATIONAL, not INVESTMENT recommendation.
OANDA:XAUUSDLong
by edgeAZFX