While I have learned not to take trades in anticipation of correction completions, the EURUSD looks like it MAY be setting up for a clean classical contracting ABCDE correction for further downside. In my opinion, keep an eye out for the completion of the D leg to anticipate a possible E leg short.
LTC contracting/symmetrical triangle (top declining, bottom rising)
Hi there, Note that i'm not a professional, i'm here to learn and therefore feedback is much appreciated. I've noticed two contracting triangles in the SCUSD chart. This in combination with the fact that the SCBTC chart is showing a massive cup&handle pattern makes me believe Siacoin is going to skyrocket soon. Now i have to say i just started reading up on...
What do you guys think? This seems to me to be a bearish contracting triangle.
'Stratis shows a corrective pattern called a contracting triangle, which indicates a possible end to the 2nd wave correction. Ready for some fireworks!!
There's a good possibility of going long on GBPUSD. Previous structure broke to the downside (massively) and created a bullish Bat pattern. It might go lower, but there's a trendline (from october 2016) that could retain the market. Also, MACD starts showing bullish divergence.
Chart explains it all, Possible short term buy to the upside but I'm only interested in the shorts! Appears to be either making a flat or triangle as a complex B wave for Impeding impulse C to the downside!. Thanks for looking and have a good week.
It is quite possible that we are in a last wave E up (green arrow) before the collapse of the pair to the parity area between the 1.03 and 1.00 (red arrow). I put the 78.6 Fib to flag the possible reversal point. I put thin dashed red vertical lines to isolate each wave inside of a triangle to facilitate the understanding of the setup.
Wait (D) wave and look in lower timeframe for a sell setup.
As of my last post, numerous signs pointed to Wave (E) being complete. With this morning's move down, it re-opens the idea that Wave (E) is not complete (although it still could). If Wave (E) is not complete then we have a good target for when it may complete. The price target would be $630.09 which is the 61.8% fib ratio of Wave (C). Typically Wave (E) will...
Several signs are pointing to the ABCDE contracting triangle being complete: Looking at the daily oscillator, you can see that each wave in the ABCDE corresponds to prior to the daily oscillator's fast (gray) line passing the slow (purple) line. The daily oscillator's fast line just passed the slow line giving us confirmation that Wave (E) should be complete. ...
We are currently in a corrective 4th wave of a bullish five wave pattern up that should result in price reaching above the top of the 3rd wave (789.78) The fourth wave appears to be a five wave contracting triangle which will conclude on July 15-18th at which point the fifth wave up should commence. Charting the 4 hour contracting triangle (thin green line)...
Contracting triangle . a chance to get involved long
EURUSD is nearing the completion of wave-(e) of a possible contracting triangle that could mark the end of wave-(2) before the three-of-C breakout. Entry at AB=CD inside of wave-(e) is confluent with the completion of a bullish cypher and may act as a catalyst for the bullish impulse. Long term target is placed at A=C. It is possible that another rebound off...
NOTE: Please keep in mind that just because I have drawn particular line or suggested a target does not mean I will cause the price to follow that path. I say this because many appear to have religious like zeal for BTCUSD to move forever upwards without any retracement where suggesting anything else is a gross sin. Also I am ignoring all the positive and...