BTC Legs to 12.7?!?Btc looks to be consolidating correctively but looks like there is opportunity for a c wave to get up to 12.5-12.7
Wxy
Aug03 - CPO (Monthly) - Long-term Wave Count, Elliott WXYDecided to check on the long-term big picture, following CPO recent strong up-move towards 2800 area (again!).
---- marked: grey zone
2600-2800 zone is kinda midpoint to the decade-long correctional pattern following '08'09 subprime crash.
A fib plot of the sharp plunge, shows each levels coincides well with CPO major support & resistance zone.
As of now, its clearly a horizontal correction on monthly/weekly charts,
potential Elliott Double-Three, WXY wave pattern.
I've produced 2 possible counts, as we are nearing completion/already complete WXY.
Main Count (orange): currently "Y" wave within WXY Correction, wave 'd' within Elliott Triangle -abcde-
Alternate Count (blue): completion of Elliott Triangle -abcde- & WXY Correction in May2020; current bounce = potential Impulse Wave (1)
Leaning towards main count, which suggest yet another test on the infamous 19xx-2000 MAJOR support area,
before we finally bounce into a new CPO Bull Cycle, by late'2020 or early'2021. 📈📈
Fundamentally, we can relate this long-term bullishness to the dwindling global food supply as agricultural lands rapidly disappear,
-- either gave way to housing/infrastructure, due to pollution, or desertation due to climate change. 🙈🙉🙊
I shall update this count by end-Q3, 2020 -- we shall then see whether we are indeed in a new CPO bull cycle. 🐮🐮
Meanwhile, I'll keep to sideways operation mode :p
Happy Hunting! 🚀🚀
-JK- MyTradingSpace
C$UsdCad has ended correction and touched the trend line. Should continue up. Least target is 1.4-1.41.
USDCAD | Elliott Wave | Bear View 1.33 | Jeremy WagnerInteresting level here in USDCAD. The primary Elliott Wave pattern suggests a deeper cut, perhaps down to 1.33.
However, we have horizontal resistance turned to new support from May 2017 in the way. Which pattern prevails?
There is likely enough support to pop prices higher a little. So long as USDCAD is below the May 22 high, a break down below 1.38 is possible.
Bitcoin (BTCUSD - Bitfinex) - WXY wave patternBitcoin (BTCUSD - Bitfinex) has completed impulse five wave sequence from bottom shown in 60 min chart. Now it is correcting it WXY down cycle and moving up in X wave, which is about to over and will start moving down in Y wave.
Dow Jones Industrial Average (DJI - NYSE) - ABC wave patternDow Jones Industrial Average (DJI - NYSE) is in ABC zigzag move from last low dated 24 March. It is moving up in 5th wave of C wave in ABC pattern (or 3rd wave as impulse). In weekly time frame it is in 5th wave up as impulse cycle, which means in 2 hour time frame, it must be impulse or diagonal structure in up direction.
EUR/USD (EURUSD) - Updated Elliott wave countEUR/USD (EURUSD) has completed 5th wave of A wave of ABC cycle of Y wave as shown in chart. Now wave B correction down is in progress, which aligned with DXY. After that one more wave C up will proceed further to complete the cycle.
USD/CAD (USDCAD) - Updated Elliott wave countUSD/CAD (USDCAD) has completed 3rd wave of C wave down as ABC sequence of Y wave. Now it is correcting in 4th wave up. From triangle X wave, Y wave down is moving in simplex ABC zigzag, where C ware is extended.
EUR/USD (EURUSD) - Updated Elliott wave countEUR/USD (EURUSD) in 5th wave correction of A wave of ABC cycle of Y wave as shown in chart. Now wave B correction down in progress, which aligned with DXY. From major low made on 23rd April, price is moving up in (W)(X)(Y) wave up, where (W) and (X) were over and (Y) moving up in further WXY. Currently Y wave subdivided in ABC, where B is finally in progress, after that one more wave upC will proceed to wave Y completion.
USD/CAD (USDCAD) - Updated Elliott wave countUSD/CAD (USDCAD) is in A of Y wave down as ABC zigzag. Wave (Y) is subdividing in WXY where W wave was completed in ABC zigzag move after triangle completion. X wave was flat correction and now Y is in ABC wave sequence.
Worldline SA (WLN - France) - WXY wave patternWorldline SA (WLN - France) is in WXY complex correction and it is now in b wave up of abc down of y down in X wave as shown in chart. X wave is moving in consolidation zone only, after which Y wave will start up move. It is very strong stock in weekly time frame compared to CAC40 index.
Bouygues SA (EN - France) - WXY wave patternBouygues SA (EN - France) is in WXY complex correction in 60 min time frame as shown in chart and it is now moving in y of Y wave down. X major wave was triangle, but Y wave was again subdivided in wxy wave. Invalidation level on 60 min chart must be followed to remain in count. In weekly time frame it made huge triangle in X wave, which was already broken down with high volume. So if it retain below that break down point, then huge downside will be possible in future.
Air Liquide SA (AI - France) - WXY wave patternAir Liquide SA (AI - France) is in WXY up correction and moving up in C wave of y of Y major wave as final move up. It is the part of complex correction. In weekly time frame, from major bottom on chart it has completed WXY wave upside. From major top in 2020, it dropped in ABC zigzag and now corrected in complex WXY correction. It is very strong stock and out-performer than CAC40 index on daily time frame. So possibly it can go higher in 60 min time frame.
CAC Mid 60 - (CACMD - France) - WXY wave patternCAC Mid 60 - (CACMD - France) is in WXY complex correction and moving up in ABC wave as the part of Y wave up. It is now in B wave correction of Y wave up and will end soon. X wave was triangle, which resulting in faster Y wave up. In weekly time frame it is similar to CAC Large 60 index as it has completed impulse sequence between 2009-2018. But in 2020 it doesn’t made new high and alerted for market weakness.
Deutsche Post AG (DPW - Xetra) - WXY wave pattern Deutsche Post AG (DPW - Xetra) is in WXY wave pattern in 60 min time frame. It is in 3rd of C of Y wave. In weekly time frame it completed correction after an impulse up move.
Xiaomi Corp (1810 - HK) - ABC wave patternXiaomi Corp (1810 - HK) is in ABC corrective down wave cycle in 60 min, which is the part of X wave in bigger WXY corrective up sequence. As the HSI is now in up cycle, possibly B wave will give much deeper correction. So wait for confirmation in smaller time frame for C wave down. In weekly time frame its within correction of WXY up move.
Brunello Cucinelli (BCU - Italy) - WXY wave patternBrunello Cucinelli (BCU - Italy) is in WXY correcting down cycle in 60 min. X wave was completed in triangle, which confirms only when it broke the triangle downside and then Y will down will start as the part of bigger WXY cycle in weekly time frame as complex correction down.
NZDCAD WEEKLY- Looks solidI have looked at NCAD every way I can and I don't see any other alternative than a triple combo like that. It's a nice buy for a while, but when it hits the 200MA on weekly, it should become an even better long term sell to at least double bottom back at the .80000 level, but can extend further. The structure should take it to break trend line.
Bitcoin (BTC/USD) - WXY wave patternBitcoin (BTC/USD) is correcting in WXY wave sequence. It has completed W wave down in ABC zigzag and currently in X wave up, in which it completed A and B wave as the part of zigzag correction. Now it is moving up in C wave of X wave, which probably equal or 1.62 times of A as shown by red lines. Let’s see how it works from here.
USDCHF ForecastI expect Uchf to create another buy setup this next week. It measures out basically exact to reach the high. Watch the beginning of The Truth About Forex video on the PIPDR youtube channel for DXY analysis. Also Ucad and EU.
USDCAD Wave Pattern updatedSorry I didn't post this earlier, but I see more upside on Ucad and the DXY. The US is starting to reopen and the wave pattern on DXY tells me that it needs to spike if it is going down more. I'm long Ucad, short EURUSD, long UsdZar. I suggest you at least watch the beginning of this video..... The Truth About Trading, Prepare To Be Enlightened: Banks, Wave Theory, Robots, And Being Human
Video link to my youtube channel on my profile, plus the video link is on my profile.
Gold | Short | Elliott Wave Theory | Jeremy WagnerLonger term top may have formed in gold earlier this week. We sent an alert to subscribers on Tues May 19 with a full analysis and entry points with risk.
The up trend since 2015 is a double zigzag pattern labeled w-x-y. I can count the minimum waves in place at the May 19 high. A lot of harmony is found within the w-x-y waves and subwaves.
Prices are sitting on top of the 78.6% retracement level so this is the retracement of last resort. Silver is at a resistance level too.
Let the market dictate if the top is in by falling below support levels as that will be the trigger into a longer term trade.
According to the Elliott Wave analysis, I'm looking for an eventual fall below $1,000 for the price of gold. This will have an effect on GLD too.
