GBP/USD Elliot Wave Analysis Buy Set upWatch for price to finish a small correction then look to hop in for the Buy set up
Elliottwaveretracement
Elliott Wave Analysis: Amazon May Start Another Extension HigherHello Traders,
Let's have a look at the Amazon 1 hour chart.
Short-term Elliott wave analysis suggests that pullback to $1646.48 low ended blue wave (2). Above from there, the stock is rallying higher in blue wave (3). The internals of that extension higher is unfolding as Elliott wave impulse structure with sub-division of 5 waves.
Above from $1646.48 low, the rally to $1858.88 high ended red wave 1. The internals of that rally higher took place in another 5 waves impulse sequence in lesser degree cycles. The first leg of a rally to $1725 high ended black wave ((i)) as Leading diagonal structure. Then the pullback to $1682.15 low ended black wave ((ii)) pullback as a Zigzag correction. Up from there, the rally higher to $1841.95 ended black wave ((iii)) in 5 waves. black wave ((iv)) pullback ended at $1791 low, and black wave ((v)) of red wave 1 ended at $1858.88 high.
Below from there, the stock did a 3 wave pullback in red wave 2, which is proposed to have completed the correction against $1646.48 cycle low. After reaching the blue box 100%-123.6% Fibonacci extension area at $1787.19-$1775.77. However, a break above $1858.88 high remains to be seen to validate this view & until then, a double correction lower in red wave 2 can’t be completely ruled out. Near-term, while dips remain above $1769.99 low and more importantly above $1646.48 low the stock is expected to resume the upside. We don’t like selling it and the right side remains to the upside.
what goes up.. must go downBTC is (almost) done with its 5 wave impulse up. Time for a correction. We can already spot bearish divergence on the daily RSI, so perhaps there's a small push up left but then its time to correct. If this plays as a 1-2 of a higher degree Elliott wave the most probably place for the 2 to end would be between to 50%-61.8% fib levels
OIL Elliott Wave Analysis: Larger Correction Taking PlaceHello Traders,
In this Elliott Wave Analysis, we will have a look at Oil.
OIL short-term Elliott wave analysis suggests that the rally to $75.31 high ended in red wave III. Down from there, the larger correction in red wave IV is taking place in 3, 7 or 11 swings before Oil resumes higher. The internal of the first leg of the decline from $75.28 high took place in 5 wave’s impulse with internal distribution of 5 wave’s structure in lesser degree cycle. This suggests that the five waves down from $75.31 is part of a larger Elliott wave Zigzag correction within cycle degree wave IV pullback.
Down from $75.31 high, the decline to $72.14 low ended blue wave (1) as a leading diagonal structure. Above from there, the bounce to 74.70 high ended blue wave (2) bounce as a Zigzag correction. Below from there, the decline to $69.23 low ended blue wave (3) in another 5 waves. Then the bounce to $71.66 high ended blue wave (4) bounce in 3 swings. The final decline from there unfolded in 5 wave’s structure which ended blue wave (5) at $67.04 low & also completed the black wave ((A)).
Up from there, the instrument ended black wave ((B)) pullback at $71.11 and should continue the decline. As long as the market stays below $71.11 peak but more importantly below $75.31 peak, we expect Oil to continue lower. We don’t like selling it.
GBPNZD big move with patternCup and Handle pattern taking shape and almost complete. All that is left for completion is a break out of neckline. This big move will reap hundreds of pips and you herd it here!
Finishing the 3rd wave on BTCHi Guys!
Today, as usual, we are looking at the BTC/USD and to be on honnest it looks pretty good! During the third wave, we found a top at the trend line that was the support previously, and now I think we are retracing to the support, which is 7k, and we didn't test it yet, so let's see if it'll do it's work.
I am trying a little sell here, but my SL is not far on that, it is a little big higher than the trend line (7600).
Hope this analysis helped you, leave a like if yes, and don't hesitate to shares your ideas in the comments!
Stay tuned Traders.
Finishing the 3rd Impulse Wave, now need a retraceWell that 3rd wave went up a bit higher and a lot faster than I expected. The bulls broke hard through the long term downtrend pink line. Now they need some good consolidation and retrace on the 4th wave to garner more support to get ready for the 5th wave.
Ideally, the 4th wave retrace will drop back to the 6800-6900 level which should prove to be a good level of support now. Then the 5th wave will be free to move up to the 7800 level by Mid August.
You can see I've then forecasted the abc correction wave back to the 6400-6600 level. This would be a really healthy sign representing a .618 fib level retracement by early September. Then we could begin another bull impulse wave through the previous resistance level of 7800 and go all the way up to 9200 level by October.
Any other bullish EW folks have the same ideas?
Have a great day!
GBP/JPY Technical AnalysisThe M30 chart of GBP/JPY is in the formation of full Elliot wave pattern
Currently It is in process of making the corrective wave waiting for the c wave formation
long now with the expected target of 148.160 value
Oil 1 Hour Elliott Wave Analysis: Suggesting More DownsideHello Traders,
In this Elliott Wave Analysis, we will have a look at Oil in the 1 hour chart.
The commodity ended its cycle from 8/1/2016 low (39.19) at the peak of 07/03 in red wave III and currently, it is correcting that cycle in 3-7 or 11 swings in red wave IV lower before the rally can resume.
Near-term it ended blue wave (W) at 07/12 low (69.23). The internals of blue wave (W) unfolded as an Elliott Wave flat structure where it ended red wave A at the low of 07/06 (72.15), red wave B pullback at 07/10 (74.71) and red wave C of blue wave (W) completed at 07/12 low (69.23). Above from there, blue wave (X) correction ended at 07/13 peak (71.66). Below from there it is at the 61.80-76.40 Retracement area from 07/03 peak which can end soon the cycle from 07/13 peak (71.66) in red wave A and as long as pullback in red wave B stays below 71.66 peak, we expect Oil to resume lower towards the equal legs of 65.62-64.19 from 07/03 peak before a reaction higher can be seen. We don’t like selling Oil.
Elliott Wave 'B' corrective reaction nearing pivot reversalNice double top formed around the subwave 4 on bullish reactionary wave in downtrend correction... it's not over yet... media says 'going to the Moon' so look down
Record high NDX and broad-market Nasdaq today, all-time high for MSFT now trading at market cap $800Billion... can you say bubbly?!
Rate hikes- check; inflation - check; t-bill rate inversion - coming soon. Trade war = fluffy noise unless they really make us pay more, then - 'Ow!'
Possible wave top near 25076, if it reaches that is 0.50 Fibo from Jan high (0.618 Fibo reached 06-11 at 24404) look for it intraday possibly Friday or Monday.
probably safe to enter shorts north of 24980, certainly if >25k: caution an expanded wave B could carry back near top of Wave A to 24400, however unlikely it seems
Could form a shooting star candle if it reaches that high; pushback will be strong over Dow 25000, look for confirmation before short entry
Wave C downdraft beginning possibly 7-18 to 7-20 could carry index as low as 23530 support by August, support at 23800 may hold it higher; Wave A reached 24004, C usually breaks below A support
For God's sake get your kids' college funds and pension savings out of the bloody market if you're still in it! Your life savings will evaporate overnight.
My friends are so stubborn, I try to tell them this, but; "I just buy the dips and it always comes back! It will be fine! You worry too much! I only buy good funds!"
...Gosh, your great-grandkids will appreciate you did that for them. Good luck!
Dow reaction Wave B entering subwave 5 final leg upWednesday's pullback looking like a subwave 4 now expect a final subwave 5 push to possibly 25100 pivot for short entry sometime next week;
This last pushup will likely terminate correction wave B and usher in wave C downdraft. Anything can happen though; market is irrational- good luck!
Looking to short5 waves completed now busy with an ABC correction. Looks like the A wave is already in and we're now busy making the B
Will short once B is completed..
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$SBUX - Time to Cut Back On CaffeineI remember buying this stock back in 2012 at around 30/shr and held it through the bull run. It's sad to see this drop so much in such a short period of time. With the rising cost of coffee and the cutback in construction, I am assuming there will be weak guidance for this upcoming ER.
Next week, we may see an ER run up to the 38% - 61% fib before the next drop.
My plan is to purchase calls first thing Monday and enjoy one last run, and short it back on the way down to $43 (or even lower). For now, I'm marking this short- term "LONG" until it finishes the retracement.
Elliott Wave Analysis: Is AUDUSD Ready to Resume Lower?Hello Traders,
In this Analysis, we will have a look at AUDUSD.
AUDUSD short-term Elliott Wave view suggests that the decline to $0.7308 low ended blue wave (A) coming from 6/06/2018 peak ($0.7676). Above from there, the 3 waves recovery to $0.7484 high ended in blue wave (B). The internals of that blue wave (B) unfolded as Elliott Wave Zigzag correction where red wave A ended at $0.7424 high. Subdivision of red wave A of (B) unfolded as 5 waves where black wave ((i)) ended at $0.7342. Black wave ((ii)) ended at $0.7312, black wave ((iii)) ended at $0.7404. Then black wave ((iv)) ended at $0.7368 and black wave ((v)) of red A completed at $0.7424 high. Down from there, red wave B ended at $0.7359 low.
Up from there, red wave C of blue (B) ended at $0.7484 high with internals also unfolded in another 5 waves structure. Black wave ((i)) ended at $0.7408. Wave ((ii)) ended at $0.7371, and wave ((iii)) ended at $0.7483. Then black wave ((iv)) ended at $0.7452 and black wave ((v)) of C ended at $0.7484 high. This rally also completed blue wave (B) bounce there, after reaching the 100%-123.6% Fibonacci extension area of red A-B at $0.7475-$0.7503 area.
Near-term, while bounces fail below there, we expect the pair to resume lower in blue wave (C). However, a break below $0.7305 low remains to be seen to validate this view & until then a double correction higher in blue wave (B) bounce can’t be ruled out. We don’t like buying it.
Bitcoin 1-Hour Elliott Wave AnalysisHello Traders,
In this Elliott Wave analysis, we will have a look at Bitcoin in the 1-hour time.
Bitcoin ended the cycle from 05/05/18 peak at 06/24/18 low and it is currently correcting the cycle from 05/05/18 peak in 7 or 11 swings, targeting the equal legs from 06/24/18 low towards 7289.04-7529.43 areas before it can turn lower again. The cryptocurrency ended the cycle from 05/05/18 peak in blue wave (A) at the low of 06/24/18 (5757.72). The internals from blue wave (A) unfolded in 5 waves.
Up from 06/24/18 low, it ended red wave W at the peak of 07/04/18 (6790.55) and as long as the price stays above 6268.85 low, we are calling red wave X pullback at the low of 07/10/18 (6268.85) completed. Red wave X pullback took the form off an Elliott Wave flat structure, where it completed black wave ((a)) at 07/05/18 low (6449.80), black wave ((b)) at 07/07/18 peak and wave ((c)) of red wave X at 07/10/18 (6268.85) low.
As long as the pivot at 5777.15 low in our distribution system stays intact we are expecting Bitcoin to continue its correction higher to the cycle from 05/05/18 peak before turning lower again.
five is in.. back to the 50Looks like we got a completed 5 wave structure and we're heading to the 0.5-0.65 % fib retracement for oil
EURJPY Elliott Wave Analysis: Pullback can Provide Buying ChanceHello Traders,
In this Elliott Wave analysis, we will have a look at EURJPY in the 1- hour timeframe.
EURJPY short-term suggests that the decline to 126.63 on 6/19 low ended blue wave (2) pullback. Up from there, blue wave (3) remains in progress as Elliott wave impulse. The internals of red wave 1 is unfolding as a leading diagonal with sub-division of 5-3-5-3-5.
Up from 126.63 low, black wave ((i)) ended in 5 waves at 128.84. Black wave ((ii)) pullback ended in 3 swings as a double three Elliott Wave structure at 127.12 low. Then rally from there ended black wave ((iii)) in another 5 waves at 129.5 high. Down from there, the pullback to 128.44 low completed black wave ((iv)) pullback as a Running Flat. Above from there, black wave ((v)) of 1 remains in progress in another 5 waves structure. The cycle looks mature but the pair can extend higher 1 more time before it completes red wave 1.
Afterwards, the pair is expected to do a pullback in red wave 2 in 3, 7 or 11 swings to correct cycle from 126.63 low before further upside towards 132.30-133.63 area can be seen. We don’t like selling the proposed pullback.
Best Buy Is Set To Drop Over Next 3-13 MonthsBest Buy is in Cycle Wave 4. The bottom of this wave should occur between July 25, 2018 and August 20, 2019. The bottom should occur between 52.12 and 63.5. These dates and numbers are based on comparative trend analysis and derivative analytics.
Elliott Wave B subwave 3 forming short squeezeBig downdraft from 25402 -> 24407 knocked 1395 pts off Dow for correction wave A.
Reaction wave B ongoing now completed subwave 1(up), 2 (down) with the green hammer Doji Monday. Shown in more detail in this idea.
Subwave 3 can carry index as high as 24686 before Wave 4 reaction retraces, possibly as low as 24440, but not below subwave 1 top.
Subwave 5 can carry index as high as 24948 on Fibo 0.618 retrace but higher unlikely given strong R at 25k. Possible lower high on 13 July.
Once subwave 5 completes, the bullish impulse will exhaust and Main Correction Wave C will begin another downdraft to around 21800, possibly lower.
Bitcoin 1-Hour Elliott Wave AnalysisHello traders,
In this Elliott Wave analysis, we will have a look at Bitcoin In the 1-hour time. Bitcoin ended the cycle from 05/05/18 peak at 06/24/18 low and it is currently correcting the cycle from 05/05/18 peak in 3-7 or 11 swings before it can turn lower again.
The cryptocurrency ended the cycle from 05/05/18 peak in blue wave (A) at the low of 06/24/18 (5757.72). The internals from blue wave (A) unfolded in 5 waves.
Up from 06/24/18 low, it ended red wave W at the peak of 06/30/18 (6514.75) and red wave X correction at the low of 07/01/18 (6262.50). As long as the pivot at 5775.46 low in our distribution system stays intact we are expecting Bitcoin to continue its correction higher to the cycle from 05/05/18 peak before turning lower again.
