Abcpattern
RED VS BLUE EURUSD H4FIRST AND FOREMOST... BOTH red and blue are A B C corrections. Red is the LONG Version and BLUE the short..
"IF" the market turns now... and Wave A completes here, we will be on the blue path. It would still meet the guidelines of closing within the "area" of 4. "IF NOT" and prices goes to the long red A then that too meets the guidelines of closing within the 'area' of 4.
Every thing after that is what I suspect will happen correction wise after the main conflict of Red vs. Blue is over.
IN EITHER CASE, I made this chart as a CORRECTION to my "Follow the yellow brick road" chart.
BTC continues to consolidate, on the way to a perfect call!!!
Nothing is more difficult than to make a good count inside a handle and try to identify the waves correctly (especially with a BTC like the one we have lately), so I went to my old Elliot teacher. The B wave was formed a few days ago and now we are on our way to C.
All within the consolidation phase. The BTC is on its way to retesting the 780/700 range (-25%) ideal for getting long or how other traders wait for it to break the neckline of the cup.
I apologize for the comings and goings of the charts, but welcome to Bitcoin.
The only thing certain is that the whole life of the BTC formed a perfect cup and handle pattern, a perfect retracement, an increase in volume in the perfect handle and now what would be missing is most important to identify C to get LONG.
100% TA
0% FA on this chart
Good trading, good profit for all!
BTC it´s going to B targetThis is a zoom of the handle and its possible and total consolidation phase before the breakout.
At this point we are on the way to forming B. Once formed, the trend will become bearish to reach the corrective wave C. If we have the knowledge or the luck of knowing that is definitely and finally marked the C, there will be a change of trend and will be the ideal time to get LONG to wave 3.
Many traders get long once the price makes the breakout on the neckline. That remains in everyone and the risk they want to run.
In short, my humble opinion is that the whole life of the BTC has formed a perfect cup, the retracement that began to form the handle was exactly -0.33%, the volume grew significantly in the handle (as they say the books)
What will now be what the destinations will be and in what time will, B and C and form the break to reach the final target (3)
Thanks to the followers and likes
Nice trading, good profit!
Bearish USDJPY - Long TermStrong Support + fibbonaci level 50%
The price is inside the bearish channel, I believe this was the 3-4 Wave leg within an ABC correction.
Bullish Long term EURAUDThe price has finished the 12345 Elliot wave. We can see a descending triangle, now I'm looking for a long to the target of 1.4140.
Consolidation at the handle with a bullish BTCThis is a zoom of the handle forming, after the 1/3 retracement for the (A) corrective wave ended, and now ahead of schedule this is the uptrend (according to my point of view) to form B (impulsive wave) and their possible targets in fib levels.
I attach below the central chart
USDMXN buy the pullbackUSDMXN will show an opportunity to buy after ABCD bearish pattern completion.
21.39955 is matching the D point and one support that previously was a strong resistance.
Long at 21.39.
- TP1: 21.61956
- TP2: 21.83723
SL below 21.3
ZOOM OF THE HANDLE PATTERN AND BTC UPTRENDThis is a zoom of the handle of the pattern in formation after finishing the cup.
Possibly we enter inside a channel by the approach of the Bollingers and then form the wave B (impulsive) with those possible targets.
We continue in the fourth and final phase (consolidation) to then correct B with the formation of C (2) and finally break up the resistance level of the handle and go in a bullish and strong direction towards wave 3.
Thanks to followers and likes
ABC Correction on USDCAD weeklyHey guys! Look at this formation. What do you think? As for me, it's a good Elliot wave ABC correction we might have here. On daily chart, am looking for an entry. We can see the 3 black (red) crows candlestick pattern. Aggressive traders can go short now and build the C impulse. Conservative can wait for the C impulse to complete. As for me, no time to wait.
GBPJPY goes into buying zone, BE READYI think the yellow area, is good area for LONG. since this area are solid cluster, there's a previous low, there's 61.8 retracement and also there's 100% extension of ABC... Will update again soon!
Cheers
ABC Correction EBAY after impulse wave maybe ABC correction.
after trigger in the point C possible Long position was entered.
Possible ABC correction with AMZNPosting what looks to be a bear flag / possible ABC correction with AMZN. Starting with a safe target of 700, but I expect this to go much lower. Weekly, and monthly chart looks pretty parabolic. I am also pretty bearish with the major indexes as well.
DXY - 5th Wave completed on Daily! Correction StartedI see correction wave (A) has started on Daily chart.
RSI reached the overbought zone and now reflecting. Stochastic did as well.
First goal is the previous structure's high @102.04
Bearish Bat Pattern Setting up on EURJPYThe EURJPY pair has been on an absolute rocket ship recently, looking at a potential opportunity to short here. An aggressive entry would be right at 123.40's, I like to wait for conformation from price action at advanced pattern completion points; however, this is just an idea, one should not trade this set up should they not have a trading plan specifically for these kinds of set ups!
YELP - Potential for more downside short termPotential for more downside short term to under 30 before continuing to rally to upside next year.
Gold in the potential reversal zoneGold has reached the 1170-1160 zone which is the potential reversal area after abc correction move. We have structural as well as the fib very important levels there so looking forward for upward breakout or bullish structure to confirm.
EURJPY SHORT 4hEURJPY SHORT 4h Chart
1. XABCD Pattern
2. Channel Upper Line
3. Resistance Daily+H
Good Luck!
AUDCAD Sell setup & Possible wave formation.ABC Pattern in AUDCAD is completed. Please trade carefully.
GBP/CHF buying opportunity GBP/CHF has delivered new high with what I believe could become the first impulse in A-B-C EW progression.
Wait for the corrective pattern wisely and get on the bullish side.
