Hi fellow traders, I would like to share with you all the characteristics of the most important structures when it comes to trading waves. When reading all the rules and guidelines of the Elliott Wave Principle it might be a little overwhelming and complicated for most traders. At least to me it was when I just started learning. For that reason I've tried to put...
Elliott Wave Principle , developed by Ralph Nelson Elliott, proposes that the seemingly chaotic behaviour of the different financial markets isn’t actually chaotic. In fact the markets moves in predictable, repetitive cycles or waves and can be measured and forecast using Fibonacci numbers. Elliott wave predicts that the prices of the traded financial instrument...
Using my vast experience in Elliot wave labelling, I charted a super cycle count for NIFTY INDEX.
NIFTY Completed its 5 legged 3rd wave and extended its ''B'' Wave recovery(Running flat correction)to16700
A five legged wave 'C' of WAVE ''4'' will bring the index to minimum 38.2% to 11300 before April 22 and oscillate up and down till July24
We have more time to...
Great day to learn something, today; we will understand how to use corrective structures to develop a setup on any chart.
a) There are 3 types of Corrective Structures, Zig-Zag (first example), Flat (Second Example), Triangles (third example). Use them as an archetype to spot them on a chart.
b) Now that you understand the types of corrective structures is...
Hello traders!
GBPAUD is clearly bearish, as we see a sharp fall in impulsive price activity down from 2.085 high. We are tracking a so-called impulse, a move that is structured by five waves, where two of them are corrections. Now, we are tracking a wave 4 correction which started at 1.768 level, and it can climb a little higher as corrections are made by three...
This pair has been sat in some serious corrective price action. i'm hoping we can see a break next week. Which way do i think its likely to break?
Probably up, but i'm also very aware that if the bears muster the strength to break that 1.180 area, then we also have a double top that could be good to trade to the bottom of that correction.
Targets for the...
Hello traders!
Today we will talk about Silver and its price action from Elliott Wave perspective.
Metals are in an impulsive rally, especially Gold, but since March, Silver is doing much better if we take a look at the GOLD/SILVER ratio, which is now turning bearish and there's actually room for more weakness after recent corrective slow down. So, it means that...
Hello traders and investors!
Today we will talk about Bitcoin Dominance and its wave structure from Elliott Wave perspective. We will also show you how it can be useful in analyzing XXX/BTC cross pairs with the help of EW.
If we take a look on BTC.D daily chart, we can see a sideways consolidation for almost a year which usually suggests a corrective movement,...
Hello traders!
Today we will talk about GBTC - Grayscale Bitcoin Investment Trust from Elliott Wave perspective, which is telling us where Crypto investors are hiding.
As you can see, in the recent rise, GBTC came to the upper triangle line in three waves A-B-C only, so recovery looks corrective, ideally for wave (d), especially if we consider a triangle in wave...
Hello traders! Today we will talk about USDCHF in which we see an interesting wave structure.
USDCHF is trading in a big sideways range since 2015 and more and more looks like a big bullish triangle formation in wave (B) that can be approaching the end soon, ideally this year in 2020. We see it actually in the final stages of subwave E of (B), which is clearly...
Hello traders.
Today we will talk about Bitcoin from the Elliott Wave perspective.
After that strong and impulsive rise in the first half of 2019, BTCUSD has slowed down in the second part of 2019, but clearly with slow and complex W-X-Y corrective structure that can be also finished with an ending diagonal (wedge pattern) in wave Y, which is actually a powerful...
Hello traders! Today we will talk about Bitcoin, its dominance and ALTcoins.
For the beginning we want to point out that most of cryptocurrencies, even some of ALTs nicely and strongly recovered in the start of 2020, which can be easily a signal for the bottom and a reversal into a bullish mode again, but only against the USD pairs (XXX/USD).
However, as you...
Hello traders!
A quick Cable update, where we have noticed a corrective decline for the past few weeks.
Well, at the end of 2020, we have seen strong and impulsive push to the upside, clearly with five waves into a wave A and then, from the beginning of January of 2020, we can see a three-wave a-b-c decline, ideally for wave B, so seems like Cable may retest the...
Hello traders!
Today we will talk about Crude oil, USDCAD and their negative correlation in the market.
As you may already know Crude oil and USDCAD are in tight negative correlation, not tick by tick, but they are mostly in the same shape, just inverted.
Well, want we to point out is that correlations are very important to get the right approach to the markets....
Possible Wave count of AUDUSD shows we are in B Wave Correction in Triangle with sub wave ABCDE.
Possible entry is above (b) inside the (E) Wave and above the Blue Line.
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This is educational purpose.
Regards
Hello traders!
We have noticed an interesting pattern on Cable (GBPUSD). It's a corrective triangle consolidation, which is also a continuation pattern that usually occurs either in wave (B) as part of a correction or in wave (4) as part of an impulse and as you can see, in our case it can be as part of wave (4) that can send the price into new highs for wave (5)...
GBPJPY recently had a huge BEARISH BIAS. As you can see here, GJ Has been providing us with corrective structures over the past two weeks or so, which has momentum building up and then it finally breakout following the bearish bias which we would have foreseen through out TOP DOWN ANALYSIS in which is my form of seeing the overview of the market I'm looking at trading.
