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Ending Diagonal

EURUSD - ANOTHER SHORT TRADE IN THE MAKINGWhilst waiting for the planned long entry published in my chart about month ago (link below), there appears to be possibly another short trade developing. Last one worked out fairly well (link below). Here is the summary: After spike a high of 18th September, the price declined in what appears to be an impulsive move of 5 minor waves. If correct, this could be wave (a) and the overlapping bounce since looks like wxy move of which we are in near completion of wave c of "y" in the form of ending diagonal (3-3-3-3-3) structure. So after minor retrace a final swing into 1.1400 -1.1425 zone could set ideal shorting zone with stop just above 18th Sept high around 1.1470 The decline anticipated towards 1.100 is wave (c) of the second zigzag which should unfold in wave 5 impulsive move. Hence, decent short trade could be considered as per the details on the chart. Entry for short: 1.1400 -1.1425 Stop Loss: 1.1470 Target: 1.110 zone Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views. For those who appreciates my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then please be constructive and share for all to learn from. Thank you for taking the time to read my analysis. DanV danv-charting.com
Short
by DanV
21
we are in Fat(3-3-5),wave C of Fat is a Ending diagonal.Flat (regular, expanded, running) A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern. Expanded flat • structure is 3-3-5 • wave B moves beyond the start of wave A • wave C ends more substantially beyond the ending level of wave A • appears in wave two or four in an impulse, wave B in an A-B-C, wave X in a double or triple zig-zag, or wave Y in a triple threes Ending diagonal An ending diagonal is a special type of pattern that occurs at times when the preceding move has gone too far too fast, as Elliott put it. A very small percentage of ending diagonals appear in the C wave position of A-B- C formations. In double or triple threes, they appear only as the final "C" wave. In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement. • structure is 3-3-3-3-3 • a wedge shape within two converging lines • wave 4 must trade into a territory of a wave 1 • appears primarily in the fifth wave position, in the C wave position of A-B- C and in double or triple threes as the final "C" wave The above content quoted from "www.ew-forecast.com", all peer originator!!!
Short
by Dem0n
5 Waves in a Lead Wave Suggests Another Bump HigherSterling is carving out a sequence of overlapping 3 wave moves which is giving the appearance of a triangle. If that is the case, we are working on the 'D' leg of the triangle. The key element that is tipping me off to a trading opportunity is the 5 wave move higher from July 8-July 15. This is a leading wave and takes the shape of 5 waves. Therefore, there is likely going to be at least one more 5 wave move higher. The trick is to find that area of support to buy into the next 5 wave move higher and it looks like an ending diagonal is forming (see purple waves). In order for purple wave '3' to NOT be the shortest, purple wave '5' will need to terminate above 1.5500. Therefore, the deeper the GBPUSD can move towards 1.5500, the better risk to reward ratio opportunity to buy. Wave relationships show up in the 1.57-1.5850 range for taking profit. One pip below 1.5500 and the ending diagonal is invalid. Good luck!
by JWagnerFXTrader
11
AUDUSD - POTENTIAL BULLISH REVERSAL COULD BE AT HAND.There are several interpretation on longer term prospect for AUDUSD as some analyst of major banks ( technical-analysis.forexlive.com ), attempt to label the chart and I assume they know what they are talking about. However, I am not sure about the move from 2008 low to 2001 high labelled as 5 wave impulse and likewise suggesting that we are now in 5 wave decline from 2011 high, in so doing it is suggested that the initial decline of 2011 high to October 2011 swing low qualifies as wave 1. If correct then in lower time frame it should have minor 5 waves. Count how you wish, I can only see a zigzag rather than 5 waves. In contrast I see the entire rally from 2008 -2011 high as WXY zigzag and retracement since 2011 high as abc zigzag with wave c as possible ending diagonal, with approx low to form around 0.70 If correct I anticipate strong rally of this low either to retest 2011 high or as a part of complex correction with 0.86 - 0.95 as upside target. Summary if technicals: 1. Initial decline from 2011 high to October 2011 swing low is a zigzag hence part of correction rather than new impulsive 5 wave decline. 2. Retrace to Feb 2012 high was also a zigzag. 3. Since the Feb high we have leading diagonal for form wave 1 which in turn is part of larger falling wedge (ending diagonal of potentially 3-3-3-3-3 construction) which is nearing completion around 0.70. 4. 0.70 is a 78.6% retracement of rally from 2008 - 2011 high and has confluence with other fib projections show on the chart. 5. Rising trendline from 2008 low also come in as potential support in that proximity. 6. price zone where previous structure highs and lows were formed. 7. General sentiments among traders is very bearish. 8. Finally we might see hidden bullish divergence in price where RSI might form new lower low compared with 2008 and price possibly making higher low. 9. Invalidation level strong close below 0.70 Incidentally, the above anticipated low seems to make sense when compared with Gold which has strong positive correlation with AUDUSD and is also forming its potentially ending diagonal to complete its correction since 2011 high. Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views. For those who appreciates my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then please be constructive and share for all to learn from. Thank you for taking the time to read my analysis. DanV danv-charting.com
Long
by DanV
28
An Ending Diagonal Is About To Trigger Long On USDCADWe recently broke the Support in USDCAD in the Daily timeframe and started falling sharply down. I tried to assign the Wave Counts for this down movement up until now. We're currently facing a bearish contracting movement with overlaps in a bearish background which is called an Ending Diagonal . Some call it a Wolfe Wave and as Mr.Wolfe suggests the upside target would be at the touch of trendline connecting 1 to 4. I'm taking the order when I get triggered in the shorter timeframe and will have 3 positions and close them at different Fib levels and structures. The Stop Loss would be at 100% price projection of wave three of the diagonal which will void the wave count.
Long
by DavoodWadi
7
BTCUSD - STILL REMAINS IN OVERALL BEARISH CYCLE - (UPDATE)In my last published chart some 2 months ago following the spike low around 151, I made provisional adjusted to the wave counts to reflect the price action still suggesting that the bearish cycle is still in action and has further to go. The reason for this was that bounce from 150 - 300 in not in clear 5 waves, rather it is in 3 swing zigzag. Hence, in making the adjustment to the counts I concluded that the wave 3 has extended as is often the case with wave 3 and in the process forming the low at 151. Resulting price action since then was part of wave 4 retracement, which appears to have formed a zigzag with the second leg stopping short of the previous one giving as a double top (slightly lower than first). The decline since could be part of the final zigzag (wave 5) to the downside as part of a larger wave C of Ending Diagonal (falling wedge) of 3-3-3-3-3 construction which commenced in Jan 2014 high. If correct then the wave 5 of the ending diagonal could reach 120 - 90 zone. We will have better idea of its final target zone as we see it develop. The wave C as ending diagonal shown in the Log scale on this main chart is less clear compared with the arithmetic scale. Therefore as comparison and enhancing the understanding to this bear cycle I am posting additional charts as follows: 1. Arithmetic chart with wave C clearly visible as falling wedge referred to above. 2. A point & figure chart which gives different perspective but similar conclusion. Namely, that we are still potentially in bearish cycle though the actual counts are little different. 3. A short term 4 hour chart with pitchfork, showing clearly that we could be in next zigzag leg down supported by OBV weakening and diverging with price Other notes are shown on each of the charts for ease of reference. Also note that In my last short term published chart based on H4 where I suggested that wave 4 could go to higher level is now less likely as I think the wave 4 top is in place and wave 5 is now in process. I could host a live session next week to explain all this. If you are interested in this please indicate it by your comments and ensure you have tagged this chart for announcement of the scheduled, follow me on my Youtube channel and register at danv-charting.dom and to obtain a link to join me and be notified. Warning: This is my interpretation of price action using TA approach that I consider helps me most5 but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views. For those who appreciates my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then please be constructive and share for all to learn from. Thank you for taking the time to read my analysis. DanV danv-charting.com
BITSTAMP:BTCUSDShort
by DanV
146
Aussie Break Down or Up ?After a massive decline from 90+ we now find us in the 4th or 5th wave consolidation I believe and so does the RBA that we have more downward movement yet to come Regardless we have a nice Rising wedge/ Ending Diag forming I see 2 entrys if we retouch the top of the trend I will short with a tight SL as it will tell me we will break the other way Or wait for it to break under the trendline (lower risk) as with ending diags/rising wedges ..expect a retrace to the origin for a good 90 point move
Short
by YipYip
5
AUDUSD - BEARISH SHORT AND INTERMEDIATE TERMIn my last published chart of AUDUSD. I suggested that this pair was in progress for developing bearish contracting triangle referred to as 3-3-3-3-3. See the link below for details. However, that formation is now suspect as price has continued to grind higher. Whilst this does not change the overall expectation for this pairs to continue in bearish cycle, it seem another formation is in progress. one which I think is better than triangle in that unlike triangle the triangle which are very choppy and spends lot of time relatively speaking for completion this one spends less time in revolving and hence could form retracement top sooner. So rather than just post an updated snapshot, I though it would be better to re-publish the chart both to avoid confusion and as the pattern is different it could offer another opportunity to learn. So in short instead of triangle we have ABC zigzag with wave C being an ending diagonal. See schematic diagram on the chart. Once this completes it will have strong decline hence another opportunity to consider possible short with clearly defined risk. This might also fit in with the fact that RBA is making comment like they think AUD is over valued and speculation that they might cut interest rate in the coming scheduled review. Potential downside could be around 0.75 zone (See weekly chart below). As always, do your own analysis for your trade requirement. Select to follow me and the chart for notification of future updates. If you like the analysis then please indicate this by thumbs up, comments and sharing it with others. If you have an alternative idea then please share for all to learn from. Thank you for taking the time to read my analysis. DanV danv-charting.com
Short
by DanV
13
EURGBP Ending Diagonal Completed, Go Long!EURGBP has been going through a long term correction(monthly chart). The correction seems to be bottoming out as the EURGBP has formed AB=CD pattern which has completed at around 61.8% FIb from its Top, We have bullish divergence on daily chart with RSI and MACD and there is an Ending Diagonal Pattern formed on Daily/4hr chart which has broken on upside now signaling the reversal. The candle stick patterns are showing a Doji/Hammer reversal patterns on Daily,Weekly and Monthly charts. One can go long with the defined risk reward on chart. Happy Trading!!
Long
by SirajHudda
Dilemma......This could be what's in store!An Elliott Wave Ending Diagonal with the 5th wave coming in at 2138.04 2138.04 is the 1.618 extension of the subprime top and devils low. 2138 is also a confluence area where the 1.618 extension comes in from the major wave 3 swing high and major wave 4 low at 1821.61 Will it all end in an huge SHS? ...the form is a guess but we will at the beginning of a downtrend see a lower high. So a SHS is def. possible. It's the game plan so far. We will see confirmation or invalidation when wave 3 (green) is a the 1.50 fib. A huge blow off from here and it's not an ending diagonal but a normal 3rd wave up . But do we see a Gartley 5.0 pattern (the tilted w in green)...the top is possibly in. Safe trading ladies and gents! @BLawrenceM Music at work: www.youtube.com open.spotify.com
SP:SPX
by CoinedByCrypto
2
End of 2014 Bear Market Prediction (update)This is an update of a chart I made 10 days ago (check linked ideas). I've added some inner waves and some corrections. Yesterday's drop to $276 could have ended the (5) wave of C. You can zoom a bit to see the decomposition between (4) and potential (5). Long-term support, lowest-point after burst ($275), first level of fibonacci retracement are all pointing to this important level. If the ABC corrective triangle is over (correcting the Dec. 2013 burst) we should be going out from the endind diagonal from the upside pretty soon. In EW and TA this pattern/figure is a bullish one. However, we should note a correct counting is allowed with testing the falling wedge again (and old ATH). The counts would remain correct and stop the 2014 bear market aswell. C would be around January's end, ~ $257. IMO if you're long-term bitcoin beliver this a nice time to accumulate. If not, waiting a possible drop to $257 or the breakout from big falling wedge could be a better idea. Good luck !
BITSTAMP:BTCUSDLong
by Hen0xyd