VEON: Interesting pattern!Just my view as a chart pattern guy! Anyone know some fundamental reasons this thing should pop? This would be a long term position trade. I'm going to start looking for setups to buy!
Ending Diagonal
$LINKUSD - Let's jump to 28Hello everyone!
Chainlink continues to advance in its path towards new highs, following and ending diagonal pattern.
See the next target on the chart when the price breaks out from the resistance of $25.50
Do NOT miss this oneI wont be able to sit on my hands with this one
Ending diagonal in a corrective channel.
This is looking pretty bullish here, wait for the break of the ending diagonal with bullish divergence (lower price with higher rsi trends)
We should see new highs soon
Also great risk reward ratio trade
Wave CorrectionEURAUD WAVE CORRECTION
Market Buy Order Set Up.
Buy Entry: (1.56575)
Take-Profit: (1.60000)
Stop-Loss: (1.5521)
Max Risk-Reward: (2.51)
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SPX sharp downside possibleLooks like the Ending Diagonal pattern is complete and the market is set for a sharp fall to 3664 level, even if the pattern is continuing the trend remains to the downside for positional traders.
GBPNZD has possibility to reverse the trendGBPNZD has possibility to reverse the trend
GBPNZD made a very nice upward trend on H1.
Last week, however, it broke the support and we see that at the moment there is no strength to continue.
This allows to reverse the trend and search for short positions.
For this purpose, however, we must see confirmation of the reversal with a break of the previous bottom.
If we see a break we can expect to reach 1.8837 and 1.8682!
Pre-entry is not recommended!
If you have questions about how to trade this or another situation, contact us!
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USDJPY With Several Evidences For A Potential Bottom FormationHello traders!
Today we will talk about weekly USDJPY chart and we will show you many evidences for a potential bottom formation.
Well, for the begining let's talk about wave structures from Elliott Wave perspective. USDJPY is in a downtrend since March, but the wave structure is slow, choppy and overlapped which we see it as a complex corrective W-X-Y decline and we know that once corrections fully unfolds, we can expect a reversal.
The next very important evidence is an ending diagonal (wedge) pattern placed in third leg Y. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C/Y of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. Ending diagonals consist of five waves, labeled 1-2-3-4-5, where each wave subdivides into three legs. Waves 1 and 4 overlap in price, while wave 3 can not be the shortest amongst waves 1, 3 and 5.
The reason why they are so interesting is because they are indicating a reversal, usually a strong one.
The next interesting evidence is that we are already seeing bounce and recovery with quite big weekly candlestick, completely covered the previous one, called bullish engulfing candlestick formation which also suggests a bullish reversal from the lows.
If we also consider current break above strong weekly trendline, then with so many evidences, we can easily confirm a potential bottom and bullish reversal.
Trade well!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
$XLMUSDT - Following the ending diagonal Hello everyone.
Stellar has formed an ending diagonal on an hourly chart.
XLMUSD needs to stay above the $34.5 support to continue the bullish run.
There are several resistances up ahead which may halt the uptrend, however if the bullish sentiment remains, we shall see 43.5 and even 44.0
SandP in Flat Wolfe Wave End Game: Bear Move IncomingSeveral contributors have proposed Wolfe Models. This move formed a flat pattern rather than a rising channel.
This flat emulates a measured move 'flagpole.' We're sitting on the cap at top of flagpole IMO.
MFI gone in half, volume sparse.
Typical of Wolfe waves is the time elapsed in 1>2 = 3>4, as is clearly seen here. Enjoy the last gasp of this mad rally...
Breakdown should occur with similar periodicity; expect on/about 4-7 Jan 21.
NB: ABCDE denotes the Wolfe wave. Some authors have drawn it from the Covid Crash. Started here from June Swoon.
Bear move can take any form. Likely to be an impulsive correction, given the monster rally of 2020.
Here's a link on variations of Wolfe. This is an educational post not intended to be investing advice; trade at your own risk:
GLTA!
tradingstrategyguides.com
NDX - Multiple Ending 5th Diagonals = Ending DiPigonalIt's confusing and frustrating out there.
Best to navigate the market storm using the map within the map, known as the Ending DiPigonal.
- EDPig
TVC:NDX
TVC:SPX
TVC:DJI
GLOBALPRIME:US2000
US30 DOW JONES SELL Hi traders, as you see US30 is forming ending diagonal , and inside that diagonal we have rising wedge pattern which can reverse, but if that rising wedge wont hold price, then we can see retest from upper trend line on ending diagonal . Anyway i expect nice sells there! I wish you great holidays and stay safe! Good luck to everyone!
DOW 30 ending diagonal, are we gonna see nice drop soon?Hi traders, as you see US30 is forming ending diagonal, and inside that diagonal we have rising wedge pattern which can reverse, but if that rising wedge wont hold price, then we can see retest from upper trend line on ending diagonal. Anyway i expect nice sells there! I wish you great holidays and stay safe! Good luck to everyone!
Dow future (12/1/20)Although there are many counts, I find this count more reliable. I feel the rise in dowjones from march is a correction wave and we about to witness huge correction. For short term traders, I advise buying at any minor correction with the target near 30200. Good luck.
DAX - potential Ending diagonalDAX is caught in a tight range since the "vaccine spike" back on 9th of November. It looks like the classic ED (ending diagonal) pattern, so ideally it should have one last push higher before rolling over.
The ED is my preferred scenario at the moment. This could also be just a complex correction with a b-wave high (in which case the lower trend line could break directly) or even a nested bull wave (series of 1-2 waves) which should start running higher in earnest. I do view the nested bull waves as the least likely scenario and will only consider it in case price breaks the upper trend line with authority and keeps running.
EURGBP trend ReversalWhile it becomes clear who will be the next US president EURGBP broke the downward movement and seems very firm to reverse the direction.
This break allows for a rise to resistance levels:
0.9143
0.9175
0.9199
This option is spoiled if the price goes back down in the channel.
End of correction. Time to buy!In early September, we saw a boost in EURGBP. Then a long correction began. All the time we see how the correction is exhausted by making the lower bottoms.
We have already seen a higher bottom and a break in the resistance. Now the previous peak is about to be break and we are heading to 0.9280 and higher!
A critical level for the analysis is that the price does not fall below the previous bottom and 0.9000.
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Elliott Wave: Motive cycle is going to complete for GBPUSD.It is certainly not coincident that wave five for the Ending Diagonal barrier triangle remain five wave . We are going to see Orthodox move in the 2021 or shortly.
This is really easy to understand for whom has basic knowledge of Elliott Wave.
Opportunity with USDJPYDo you remember the September 14 analysis?
See D1 chart!
Now look at the current situation. It seems that the upward movement is over and a new decline will follow. A lower peak than the previous one, as well as a breach of the support zone will fully confirm this scenario.
Current entries are possible, but more risky and we will wait before entering into a trade.
In case of a breakthrough, we expect the price to reach 104.44 and 104.03
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Bitcoin: Looking forward to these next couple of months!Morning Traders,
Locally, bitcoin seems to be in the process of completing wave 2 of 3 before the next leg up to $13.16k.
Bitcoin regained and sucessfully retested major weekly support above $10.2k.
I suspect fireworks if we can just get a HTF close above $11655 (monthly resistance) and print a HH above $12k.
Looking for B of a larger corrective cycle to complete at $15.5-16k.
My macro count:
