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Elliottwaveretracement

IRIS finishing primary correction soon, turning back to impulse?Hi. In this 1D chart I've done a retracement of intermediate Elliott waves and charted the primary waves. I've concluded that a primary correction wave is about to finish. Symbol NASDAQ:SCWX has a similar sector, product and an almost equal Enterprise Value. It's current price is 13.22 $ or 110 SEK. I value $IRIS at around the same price. Thank you. Please if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods. This does not constitute financial advice. Any prices, even if explicitly stated, are presented with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
OMXSTO:IRISLong
by Kabeldon
XAUUSD Longterm Short IdeaOANDA:XAUUSD Gold peaked at 2077 in August 2020, which was the start of the reversal from that all-time high. Price dropped 15.01% over a period of four months to a low of 1765 in November, lets call that wave 1. Price from December 1st to January 5th price retraced to 1960 which was a 61.8% retracement on the Fib, let's call this wave 2. Between January 6 and March 8 price continued to fall by 14.42% to 1677, let's call this wave 3. Price formed a double-bottom at the 1677 level and is in a corrective wave which I expect to end at the 61.8% retracement level which is on the 1850 level, let's call this wave 4. What we can call wave 5 would be price heading down from 1850 to 1567 (a 15.2% drop in the price). This idea is not a recommendation of a trade, merely sharing for brainstorming purposes and also because I enjoy analyzing markets. :) Let me know what you think about Gold and where it could head.
FX_IDC:XAUUSDShort
by harveytiven
Has the EURUSD Already Peaked?The EURUSD may have already reached a peak, despite persisting dollar weakness. The pair has been establishing a descending channel ever since it reached a swing peak at 1.23500, which presupposes continued price depreciation. And even though the price managed to break out above its upper boundary yesterday, there is still a chance for a sharp dropdown. This would be the case if yesterday's breakout is proven to be a false one. The price is currently testing the 100-day MA (in blue), which is powerful enough to prompt such a retracement. But even more importantly, the EURUSD appears to be developing a major 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Once the current retracement leg (3-4) is completed, the pair would be ready to start developing the final impulse (4-5). Hence, the longer-term sentiment remains bearish. Overall, if the EURUSD manages to bounce back from the 1.20700 resistance decidedly, this would open up the possibility for a subsequent dropdown towards the last swing low (point 3). Conversely, a decisive breakout above 1.20700 could allow the pair to probe breaking even higher towards the next major resistance at 1.21700.
Short
by Trendsharks
Magic TA: The future is predicted magically!Earlier was the first to published an idea about BTC is not gonna break ATH 61800 at this point of time, instead will need a price correction before 72k! According to the observation of recent days, it is confirmed to be riding on the price correction wave. It would be a huge retracement according to the principle of elliott wave. However, after a while I've seen many analyser posted the similar chart. My philosophy is always "sell when people buy, buy when the others sell". Thanks to those who blindly buy (long) BTC at the peak of the hill, and so I'm getting extreme high funding fee from the trading platform on every 8 hours. ;) This may be the good timing for the newbie (especially those "smart traders" trying to "educate" me in a bad way) to understand, what's the real meaning "Do not chase ups and downs. Anyway, regardless long or short, debate / discussion with open-minded is always welcomed. Sincerely hope ALL OF US could make a fortune from crypto trading! Again, this is not a financial advises. I'm not a professional analyser, and I've started the trading for 2 months ONLY. :) It's my hobby to analyse the pattern so it would help in my development of automated pattern trading software.
Short
by spencerlim88
18
Price correction: first target - 56200Earlier I've shared an Elliott wave analysis chart and mentioned we may on the point (B) position. meanwhile, I've revised the chart, and realised there are 2 possibilities. Note: Please google on the complete elliott waves chart and compare to my draw. 1. Yesterday 2nd April 2021 highest point as a reference, we may on point (1) of the impulse wave. 2. Yesterday 2nd April 2021 highest point as a reference, we may on point (C) of the correction wave. So, I've decided to draw another version. (above) Sketch of 2nd April. (C) edition of correction wave. Combining with others TA tools, to find out the highest point and next lower support line. It's a cup and handle, with a highest point of 68517. Meanwhile, applying ascending triangle to the chart, we may see a lowest point of 55492, in the case of we get a breakout confirmation at 58930+ Last, be aware of the limitation of this ascending triangle. The main problem with triangles, and chart patterns in general, is the potential for false breakouts. The price may move out of the pattern only to move back into it, or the price may even proceed to break out the other side. A pattern may need to be redrawn several times as the price edges past the trendlines but fails to generate any momentum in the breakout direction. While ascending triangles provide a profit target, that target is just an estimate. The price may far exceed that target, or fail to reach it.
Short
by spencerlim88
7
Interesting fact: 5 waves formedFun facts: 5 waves is formed on BTCEUR pair but not on BTCUSD on this BTCEUR chart, major point (1) and point (4) is not intersect, which is a valid elliott waves. However, the case is different on BTCUSDT pair. The point (4) is dipping below point (1) and so it is invalid. Anyway, BTC seems exhausted at the moment, it failed to break ATH 61800 whereas others cryptocurrency broke its records. Congratulation for ETH hodlers, the value of ETH will not be limited to 2100USD ONLY. UPDATE We're now testing the EMA Ribbon lines again. Let's be patient and wait for the next few block of candlesticks for a buy/sell confirmation.
by spencerlim88
2
ZIGZAG CORRECTION IN GOLDAs recently GOLD (XAUUSD) was rising, we have recognized the completion of the five waves up followed by lower degree five waves down. REMEBER: Five wave move against the major trend indicates the beginning of correction, specifically ZIGZAG CORRECTION. Therefore, we expect ABC zigzag correction that later will be followed by continuation of the trend to the upside. The same movement is expected to take place in SILVER (XAGUSD), therefore you can capitalize your self through this positive correlation. WHAT ARE YOUR OBSERVATIONS ON THIS, PUT THEM IN COMMNET SECTION.
OANDA:XAUUSDShort
by ASAMForex
5
Bearish short-term scenario doing great so far!This correction wave has worked out perfectly so far. Fibonacci levels are on point and all sub-waves are found on the chart. As long as Bitcoin does not break above 51,700, this scenario could lead us to the EMA 21 on the weekly chart; this is something Bitcoin has previously done, so I believe there's actually a high chance for that to happen. Then I must say: if this keeps going well, grab your popcorn and get ready for the show, because a MASSIVE breakout is likely after that!
COINBASE:BTCUSDShort
by B4Baggio
1
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
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