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EURUSD: Big Time Frame One of most popular, and also simpliest count is ZigZag with Contracting Triangle as B..I think a correction up is ahead to go lower.. hight of corective wave is opened but I do not expect much more above 38,2% where also entering into wave A is near by.... if 50% will be hit then also Impulsive C wave of Flat is possible.. So... in my oppinion both lows are in place and we might get lower daily swing but do I not expect it below 1,0807 because I find this congestioin as a start of corrective wave .. Good trading!
Long
by minimax
1
UPDATE: EURUSD Bullish Crab Pattern. Possible 750+ Pips gain....This bullish CRAB pattern that I had mentioned in my previous post (see Related Idea: EURUSD: Top Down In-Depth Analysis - Bull BAT and CRAB Pattern) was quickly completed today upon the opening gap down. And now, prices have bounced from the PRZ of this CRAB putting in a nice pin bar within the PRZ. Don't overreact to this gap down as being any kind of trigger to go short! Yes, the gap down did break the lower trend line of the flag pattern SLIGHTLY but I can't count the number of times that a trend line break proved to be nothing but a false break! Especially the first time. Instead, I choose to see this gap down as an "expected move" to complete the crab pattern. Crab patterns tend to complete explosively. Meaning the last move to the D point tends to be a pretty strong move into the PRZ. This gap down qualifies as a strong move! I expected that prices would push strongly into the PRZ and even move slightly past it (see my analysis). It did exactly that and I see this as a good confirmation signal that the CRAB pattern is valid. I am already LONG from the open and the gap down expecting the gap to be filled and the CRAB pattern to work it's magic! If everything goes according to my analysis, it should be a nice ride up into the upper trend line of the flag for a nice 750+ pip gain! I posted profit targets for those that want to take profits accordingly but I am holding this trade for the long term expecting prices to reach the top of the bear flag to complete leg C of the zigzag consolidation. You are free to choose your own profit targets. CAUTION! Though my analysis, if correct could lead to a nice move up and 750+ pips, be aware that this week brings A LOT of big news events and this market can and will show much volatility With Greece set to default on their loan tomorrow, anything can happen. Then of course, this is also the NFP week. So expect large movements. Don't gamble! Invest wisely. And realize that my analysis of what is to come is just MY OPINION and is not a trade call! Make your own trading plan and trade it! As has been said so many times, "PLAN YOUR TRADE. TRADE YOUR PLAN!" My analysis and those of the many other great analyst who post here are only providing some insight as to how we are thinking. USE WITH CAUTION! As always, any opinions, agree or disagree are welcome. If you like my analysis and want to see more, take a second and please hit the LIKE button and follow me! It takes some time to create these posts so your LIKES encourages me to post more.
Long
by EverythingForex
6
EURUSD: Double zigzag seems possibleStill some room in the North? Who knows... But the final upward move is seemingly corrective, which means we should expect a downward 5th wave or another zigzag to form the Y. Too early to say anything but I imagine a bat pattern after Y, at the completion of which some big players will be involved to the proposed fiber rally at around 1.07. UPDATE: If the level 1.086 is reached through a corrective structure, I will close the position. If the decline is determined, sharp and swift, then I will close half of my position. For details, you may see the discussion below. UPDATE: The downward action has proved to be corrective. AibekB's call was just in time. So, if you managed to benefit from this correction, you may enjoy the skyrocket I talked about here: RESULT: +90 pips in 20 hours.
by YuzukiChan
34
Bitcoin Zigzag CorrectionI started to see my alternate count stepping back and taking a look at a blank chart on log scale. For now I will leave my original counting although I believe the alt. count is simpler and likely to be more accurate. I do think the internal waves of the larger decline support a diagonal or even possibly a wave ((B)) triangle but I am most confident counting a zigzag correction at this time. With the break of 316.61 to the downside, all my counts point lower short-term. I am watching for a five wave decline from the 453.92 high where I will consider the possibility that a correction from the 1163 high is complete. I believe the entire decline from the top is forming Wave II of a larger five wave pattern. Not all data is present to show the rise up to 1163 as a large five wave impulse that forms the larger Wave I which is now being retraced. Once the Wave II , correction completes, this interpretation implies a larger upside (Wave III) and great opportunity to be long.
BITSTAMP:BTCUSDShort
by Kappy
2