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Elliottwaveretracement

Elliott Wave View: GBPUSD Should Remain WeakGBPUSD shows a bearish sequence from June 25 high (1.2784) favoring further downside. Near term, the decline from 1.2784 to 1.2438 ended wave ((i)) as an impulsive Elliott Wave structure. Down from 1.2784, wave (i) ended at 1.266 and wave (ii) bounce ended at 1.2735. Pair then resumed lower in wave (iii) towards 1.248 with internal subdivision also as an impulse structure of lesser degree. Wave (iv) bounce ended at 1.2513 as a triangle and wave (v) of ((i)) ended at 1.2438. Wave ((ii)) bounce ended at 1.2581 as a zigzag Elliott Wave structure where wave (a) ended at 1.257, wave (b) ended at 1.2507, and wave (c) ended at 1.257. Pair has resumed lower in wave ((iii)) and broken below wave ((i)) confirming the next move lower has started. The move lower from 1.2581 also appears impulsive. Near term, it ended now wave (i) of ((iii)) and the pair is in the bounce in wave (ii) of ((iii)) to correct cycle from July 13, 2019 high before the decline resumes. We don’t like buying the pair and expect wave (ii) bounce to fail in 3, 7, or 11 swing for further downside as far as pivot at 1.258 stays intact in the first degree.
Short
by Elliottwave-Forecast
Elliott Wave View: NZDUSD Showing Incomplete SequenceNZDUSD has an incomplete 5 swing sequence from May 23, 2019 low favoring further upside. Short term Elliott Wave view suggests the pullback to 0.6565 on July 10, 2019 low ended wave ((X)). Pair then rallies from there as a zigzag Elliott Wave structure where wave (A) ended at 0.6737 peak. Up from 0.6565, wave 1 ended at 0.6608 and wave 2 pullback ended at 0.659. The pair then rallied higher in wave 3 towards 0.6689, and wave 4 pullback ended at 0.6661. Up from there ended wave 5 of (A) at 0.6737 peak. Pair is now in pullback in wave (B) to correct cycle from July 10, 2019 low before the rally resumes. We don’t like selling the pair and NZDUSD should see more upside after finishing the pullback in 3-7 or 11 swings.
Long
by Elliottwave-Forecast
Bitcoin BTC EW path - Can Wave 1 be over? W3 to 47.2k?Hi everyone here is a possible path for Bitcoin BTCUSDT. It is possible that W1 may be over but I can be wrong. A retracement to at .5 fib around 8596$ or 7360$ (where MA 650 stand right now) is very possible. But if we are in a W2 it is possible that we retrace much more.. even 4.9k is possible. We if retrace around 8.6k I would consider W3 minimum reach to be the 261.8% fib around 36.5k or 361.8% fib at 47.2k. Best to you !
BNC:BLXShort
by Crypto_Mercy
4
Elliott Wave View: AUDJPY Should Remain SupportedShort term Elliott Wave view on AUDJPY suggests that the rally from June 18 low is unfolding as a zigzag Elliott Wave structure. A zigzag is an ABC structure with 5-3-5 subdivision. The rally from June 18 low ended wave A at 76.28 as a 5 waves impulse. Up from June 18 low, wave ((i)) ended at 74.77, and wave ((ii)) ended at 74.32. Pair then rallied higher again and ended wave ((iii)) at 75.62, then wave ((iv)) pullback ended at 75.3. Wave ((v)) of A ended at 76.28 and this ended the cycle from June 18 low. Pair is currently correcting cycle from June 18 low within wave B. The internal of wave B is unfolding as a double zigzag Elliot Wave structure. Down from 76.28, wave ((w)) ended at 75.4 as a zigzag. While wave ((x)) bounce fails below 76.28, pair has scope to extend lower within wave ((y)) as another zigzag structure before ending wave B. Afterwards, pair should resume higher again. We don’t like selling the pair and expect buyers to appear and dips to be supported in 3, 7, or 11 swing as far as pivot at 73.9 low stays intact.
by Elliottwave-Forecast
Bitcoin! Quick ABC 35-40% correction this week!All in the charts. That's how I simply see things :) It may take longer though, of course. Best thing you can do is either HODL or add to your position. July will show a lot of volality but eventually Bitcoin is skyrocketing soon to $20k and beyond. I'm personally shorting the market from $12.5k - but I wouldn't recommend shorting if you don't know what you're doing; lots of wicks and whale liquidations. Be careful. Bitcoin still super bullish this year after this correction. Cheers, Leb Crypto
COINBASE:BTCUSD
by Leb_Crypto
Elliott Wave View: GBPUSD Impulse Looking for Further UpsideShort term Elliott Wave view on GBPUSD suggests the rally from June 18 low (1.2505) unfolded as an impulse Elliott Wave structure. Up from 1.2505, wave ((i)) ended at 1.257 and wave ((ii)) pullback ended at 1.254. Pair then rallied higher again in wave ((iii)) towards 1.2727, wave ((iv)) pullback ended at 1.2641, and wave ((v)) ended at 1.2784. The 5 waves move higher ended wave A of higher degree. This suggests that the rally from June 18 low is unfolding as a zigzag in a higher degree. A zigzag has an ABC label and it is a 5-3-5 structure where wave A and C subdivide in 5 waves. We have an impulsive 5 waves move from June 18 low which ended wave A of this zigzag. Wave B pullback is now unfolding as a zigzag Elliott Wave structure where wave ((a)) ended at 1.2661. Expect pair to bounce in wave ((b)) then do another leg lower in wave ((c)) to complete wave B correction. Afterwards, pair should resume the rally higher in wave C. We don’t like selling the pair. As far as pivot at 1.2505 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
by Elliottwave-Forecast
Oil Elliott Wave View: Impulsive Rally in ProgressOil (CL_F) rally from June 5, 2019 low is unfolding as an impulse Elliott Wave structure where wave 3 is currently in progress. In the chart below, we can see wave ((ii)) of 3 ended at 51.5, wave ((iii)) of 3 ended at 58.22, and wave ((iv)) of 3 ended at 56.79. Wave ((iii)) shows an extension which is typical in an impulsive structure. The internal of wave ((iii)) unfolded as an impulse of lesser degree. Up from 51.5, wave (i) ended at 54.38, wave (ii) ended at 53.28, wave (iii) ended at 57.98, wave (iv) ended at 57.04, and wave (v) ended at 58.22. Near term, it broke above wave ((iii)) peak opening up now extension higher. While pullback stays above wave ((iv)) at 56.79, expect CL_F to extend higher. We don’t like selling Oil and expect dips to continue finding support in 3, 7, or 11 swing for further upside.
NYMEX:CL1!
by Elliottwave-Forecast
Elliott Wave View Calling for More Upside in NasdaqNasdaq Futures (NQ_F) shows a higher high sequence from June 4 low, favoring further upside. Short term, rally to 7600.75 ended wave (1) and pullback to 7421.48 ended wave (2). Wave (3) rally is in progress as an impulse Elliott Wave structure. Up from 7421.48, wave ((i)) ended at 7536 and wave ((ii)) pullback ended at 7477.75. Wave ((iii)) is expected to end soon and the internal also subdivides as an internal of lesser degree. Wave (i) of ((iii)) ended at 7541.5, wave (ii) of ((iii)) ended at 7509.25, wave (iii) of ((iii)) ended at 7721.75, and wave (iv) of ((iii)) ended at 7630. Then it ended wave (v) of ((iii)) at 7820 peak. Below from there wave ((iv)) should also be completed at 7707 low. Above from there the 5 waves move higher from June 13 low (7421.48) should soon end wave 1 at around 7847-7891. Then Index should correct cycle from June 13 low within wave 2 before the rally resumes. We don’t like selling the Index and expect the Index to continue finding support and extending higher as far as pivot at 7421.96 low stays intact. A break above April 25 peak (7879.5), if it happens, will bolster the bullish view in the Indices.
CME_MINI:NQ1!Long
by Elliottwave-Forecast
2
Elliott Wave View: Dow Jones Futures (YM_F) Has Resumed HigherDow Jones Futures (YM_F) broke above June 10 high (26289) suggesting that the next leg higher has started. The Index is now showing an incomplete sequence from June 3 low (24610), favoring further upside. Short term Elliott Wave view calls the rally to 26289 on June 10 as wave 1 and pullback to 25898 as wave 2. This indicates that the entire rally from June 3 low is unfolding as an impulse Elliott Wave structure. Wave 2 unfolded as a double zigzag where wave ((w)) ended at 26050, wave ((x)) ended at 26261, and wave ((y)) of 2 ended at 25898. Wave 3 is currently in progress and subdivides as an impulse in lesser degree. Up from wave 2 low at 25898, wave (i) ended at 26153 and wave (ii) ended at 26001. Expect the Index to see a few more highs to end 5 waves up from 25898 low. This 5 waves up will end wave ((i)) of 3. Index should then pullback in wave ((ii)) to correct cycle from June 13 low before the rally resumes. We do not like selling the Index and expect buyers to appear as dips continue to hold above 25898 in 3, 7, or 11 swing
CBOT_MINI:YM1!Long
by Elliottwave-Forecast
Elliott Wave View: Further Weakness in GBPUSD ExpectedShort Term Elliott wave view in GBPUSD suggests the decline from June 7 high is unfolding as an impulse Elliott Wave structure. Down from 1.276, wave (i) ended at 1.265 with internal as an impulse in lesser degree. Wave (ii) bounce ended at 1.276 as a zigzag Elliott Wave structure. Pair has now reached 200% extension within wave (iii) showing a typical extension within wave 3 of an impulse. Wave i of (iii) ended at 1.266, wave ii of (iii) ended at 1.2708, wave iii of (iii) ended at 1.257, and wave iv of (iii) ended at 1.2606. Short term, wave v of (iii) can be complete already at 1.251 low, but so far it still does not have enough separation from the low. If pair breaks below 1.251, it doesn’t change the idea that wave (iii) should complete soon. As the third wave shows an extension, this suggests that pair should see further downside at least 1 more leg after a wave (iv) rally. Thus we don’t like buying the pair and expect pair to find sellers in wave (iv) bounce in 3, 7, or 11 swing as far as pivot at 1.276 stays intact.
Short
by Elliottwave-Forecast
Elliott Wave View: Apple (AAPL) Can See More UpsideShort Term Elliott wave view in Apple (AAPL) is calling the decline to 170.44 on June 4 as wave II. Wave III is currently in progress. Up from 170.44, Wave (1) has ended at 196.79 as a 5 waves impulse. Wave 1 ended at 184.99 and wave 2 pullback ended at 181.14. Wave 3 ended at 196, wave 4 ended at 194.57, and wave 5 ended at 196.79. The stock is pulling back in wave (2) in 3, 7, or 11 swing to correct cycle from June 4 low. The internal of wave (2) is unfolding as a zigzag Elliott Wave structure where wave A of (2) should end with 1 more push lower into 188.46-184.42 area before a reaction higher should be seen. We dont like selling it and as long as pivot at 170.44 stays intact we expect it to extend higher.
NASDAQ:AAPL
by Elliottwave-Forecast
Bearish credit call spread 85/87 June 28 for 1.16 creditTGT has clearly shown the first five parts of an elliot wave pattern, which indicate a peak and an ensued downtrend. This leads to a price target of $80 by June 27th. Max profit of $114/contract is reached at 84.72 and the breakeven is at 86.16. The maximum loss is $86/contract. This spread is 20 deltas negative, indicating our bearish sentiment. Technically, the bearish sentiment is further supported by a decreasing and negative MACD, a DMI- crossover of the DMI+, and the Parabolic Stop and Reverse indicator that switched to be over the candles.
NYSE:TGTShort
by LaurenTrading