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AUDUSD is Approaching a Dangerous Area for the BearsHi Traders, The daily chart of AUDUSD allows us to put the decline from 2018 high at 0.81340 into an Elliott Wave perspective. As can be seen, the market is drawing a textbook five-wave impulse, labeled 1-2-3-4-5. Wave 1-4 is completed, and we are currently in wave 5. The sub-waves of wave 3 are clearly visible, as well. . In addition, the market took the guideline of alternation into account. Wave 2 is a simple a-b-c zigzag, while wave 4 is a triangle correction. If this count is correct, AUDUSD is now in the last phase – wave 5 – of this impulsive decline. . Once the wave Wave 5 is over, which will most likely be terminated within the gray area on the chart, a sharp bullish reversal can be expected. The anticipated recovery has the potential to lift AUDUSD price to the resistance area of wave 4 near 0.74006 if it's a corrective wave. In other words, a 100% rally seems to be around the corner if it's unfolded as an impulse wave. . Till then, we will be shorting AUDUSD in the shorter cycle. Thanks for reading! Veejahbee.
Short
by Veejahbee
2
USDCAD to Resume the Upside Move in Wave "iii"Hi Traders! The USDCAD H4 chart shows that the rally from 1.32499 to the top at 1.34501 is an impulse Elliot Wave structure. It has since made a deep corrective structure in wave "ii" which seems to have completed and unfolded as a zigzag pattern. Wave "ii" terminated at 78.6 Fib ratio of wave "i" and also last daily price action closed as bullish pin bar at support level signaling the completion of the correction. A buy order is ideal with a stop below the daily pin bar low but am going to be conservative on this setup and allow the price to break the Counter Trend Line for more confirmation. Thanks for reading! Veejahbee.
Long
by Veejahbee
AUDNZD SET TO RALLY 1600 PIPS IN THE NEXT FEW MONTHSHi Traders, The AUDNZD set to make a bullish impulsive move in wave (C) of a weekly zigzag pattern. . The weekly chart () of AUDNZD shows that the decline from March 2011 - April 2015 was a textbook five-wave impulse which supposed to followed by a three-wave correction according to Elliot Wave theory. . Since April 2015 low, prices had completed a five-wave impulse in (A), a double zigzag in wave (B) and prices are in wave (C) of the supposed three-wave corrective structure. . Not only that Elliot wave confirm the completion of wave (B), weekly price action also closed as a bullish engulfing bar from a key support level. . Working down to the H4 timeframe, we can also see that prices have broken out of a descending wedge and resistance level in wave (i). Once the wave (i) is completed, we will look for a three-wave correction in wave (ii) to position ourselves in the emerging bullish trend. . The overall target for this move is around 50.0% retracement of the decline which lined up with the level where wave (A) equals wave (B). . I wish you all a fantastic start to Q2. Veejahbee.
Long
by Veejahbee
Wave 5 ended at 0.28 XRP/USD, Time for an Upward ABC correction.I'm no expert in Elliott Wave theory but it just occurred to me that one of the main rules of Elliott Wave theory is that wave 3 cannot be the shortest of the three impulse waves. This means that wave 5 ended at 0.28 in February. If wave 5 is still in motion then that means wave 3 is the shortest wave, which would totally invalidate elliott wave theory. So based on Elliot wave theory I'm bullish on the basis of an upwards ABC correction from here. Also, think about the macro picture and how SBIVC, Temenos, R3 and many other institutions are all gearing up their engines for production in March.
BITFINEX:XRPUSDLong
by zmassey
2
Upward movement coming for Holo(HOT) Helloo! Holo (HOT) at the moment is in the last downward movement of the 4th wave, the wave we are actually in, so I've put my buy orders between the 61.8 and 66% retracement of the 3rd wave(0.00000023) .This level for me is key because here you have -Golden pocket retracement -Top of wave 1 -C wave of 4 we're in will be a 100% extension of A wave of 4 Knowing that as wave 3 is extended,wave 5 could be same lenght as wave 1, I'm gong to take 50% of profits at that level(0.00000040) and if we manage to go higher I'll have a look to the second target which is 161.8% of wave 1 (0.00000051), 'cause you don't want to take profit and lose a potential 3rd wave extension ( if we count this as a 1-2-i-ii instead of a 1-2-3-4). This is a quite risky trade 'cause you could miss the move if price doesn't retrace to the 23 level, because we pretend wave 4 to kiss wave 1, so I have a smaller buy order a 25. Stop loss could be at 19-20 because a wick is "allowed" into price 1 territory. Hope to read your comments and ask to your questions. 31tc01n rul35! cheers Pupulandia
HLong
by pupul4nd14
AUDNZD BULLISH FORECAST - COMPLETION OF THE TRIANGLE PATTERNHi traders, The AUDNZD made a bullish rejection candle at a double bottom level on a weekly support zone. . This pair is currently building a major Elliot Wave triangle corrective pattern after a major five-wave bearish impulsive move. . According to Elliot Wave principle, a triangle consists of 5 corrective waves (ABCDE). AUDNZD has already completed the wave ABCD, and the price is about to start building wave E which has the potential to move up towards the Triangle resistance as projected on the chart. . We will wait for the price to break above the blue descending trendline that lined up with resistance level and then look for a bullish corrective pattern to take advantage of the impulsive move. . What's your thought on AUDNZD? Let me know in the comment. . Thanks for reading! Veejahbee.
Long
by Veejahbee
EURNZD BULLISH TRADE IDEA FORECASTHi Traders, The EURNZD seems to have completed a minor ABC zigzag correction within a major ABC zigzag pattern. . The price is currently reversing from a key support level and has the potential to move up towards the ascending channel resistance. . We will wait for the price to trade above the blue Counter Trend Line with a five-wave impulse, and then we will look for a three-wave corrective pattern to confirm the bullish move. . Will post an update soon if price completed the two phases. . Stay tuned. . Any opinions on EURNZD?
Long
by Veejahbee
BTC/USD 15min/4H charts (12/26/2018)Good morning, traders. I hope you are enjoying the holidays and had a great time with friends and family yesterday. I am still battling these cedar allergies, so we will see how long I can keep the live stream going this morning. The last analysis I wrote had us working on wave 4 as a running flat as well as a re-accumulation without a Spring. Since that time, price dropped below A which could make it an expanded flat, and re-accumulation could still be the plan that's playing out with this drop below A being a Spring. Wave C will generally retrace about 1.62% of Wave A. That means we could see price ultimately heading toward $3520 before making a higher high. We also know that an expanded flat usually targets the 50% retracement of the previous move which is where we hit exactly with the lowest part of this move down. The blue TR denotes the large accumulation zone and the purple TR denotes the smaller distribution or re-accumulation zone. There is also the possibility that we could've completed 5 waves up with this current move down being wave 2. In that case, a move toward $3500/$3600 would be the 61.8% retracement of wave 1, which is what we generally look for as a sign of another strong impulse wave readying itself. That level is also the next area of support. However, we have just seen price print a descending wedge which often, but not always, marks a reversal. This current level of support also means that price is hovering around the 4H pivot while printing a small accumulation or redistribution pattern. The thing that bothers me the most at this time is that the 4H RSI did not return to oversold yet, which leads me to believe that if price continues up from here, it is most likely completing wave 5. The corrective larger wave 2 should then take RSI back down to oversold. Most noticeable is that the volume on this drop back down has been much smaller than the volume on the push up. Remember, expanding volume with wider-spread candles is a sign that volume and price action are in agreement which means it is a trend. In this case, that is what we saw with the move up from the price lows, so demand is in control at this time. In either case, we should at least have one more leg up toward the low-to-mid $5000s. Whether that is a wave 3 (if we've had 5 waves up for the first larger wave) or a Wave C is yet to be seen. Zooming in to the 15 minute chart, we can see the recent descending wedge as well as what appears to possibly be a descending broadening wedge. The two lows which I have marked with the blue arcs could potentially be a double bottom. This, as always, won't be confirmed until price closes above the highest point between them which is $3863.34. If it does, then the target based on that pattern would be around $4050. This puts it close to what would be the completion of wave 3, which makes sense. The key levels I am watching are the swing low at $3674.73 and that $3863.34 swing high. A close below the former or above the latter indicates the direction traders should be looking for price to continue taking. A closer look at this TF also shows a small blue TR. This appears to be accumulation on this small TF as we can see demand building and supply shrinking as denoted by the volume and price action. We can also see that the proposed wave movement lines up well with the volume nodes and the TRs, with this 5th wave up on the smaller TF coming to a halt right at the top of the purple re-accumulation? TR/large blue accumulation TR. Taking a step back to look at the 1D, we can clearly see accumulation printing out. If we get a bounce anywhere from here to around $3500, then we should likely see accumulation playing out with a Spring. Instead, the low where we bounce would be the LPS. As I have mentioned numerous times before, a Spring is never required though it happens more times than not. This may also print the lowest point of the right shoulder of an IHS, as we have discussed many times before, which would give us that low-to-mid $5000s target. If that is a wave 3, then we can expect wave 5 to ultimately notch a top around $6000. If it is a wave C, then we can expect price to head back toward the 2018 lows. If price, in the near-term, continues lower than the $3500 general area, I would be looking for a break below the 2018 price low, creating a Spring, and then the bounce back up and out of the large blue TR. Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. Remember, you can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own.
BITSTAMP:BTCUSD
by Chris_Inks
AMD 40% SHORT (You don't want to miss out on this)Hey everyone, after a thorough analysis of AMD, I have concluded that a 40% motive wave is on its way, sending the price from 18.73 all the way down to at least 11.21 but don't be surprised if it hits 8.00! I would strongly suggest laddering out of the position to maximize your profit since an exact target has not been determined. I am so certain of this move because we have just broken out of what appears to be a fourth wave triangle and failed to rise above the resistance the next day. From this, it is safe to assume that the next wave will be a fifth wave impulse into the wave four territory of the larger trend. For the stop loss, I would recommend setting it at 20.75 because any price higher than this will make the current wave count invalid. Feel free to message me any questions, comments or concerns regarding my ideas. Happy trading!
NASDAQ:AMDShort
by Mika_k
10