DJI appears to be in a corrective period.
I have seen this as a zig-zag which has led on to either another zig-zag or what may not have finished triangle.
I have added the moving average for extra confluence and the market appears to have made a very short term flag (trend continuation pattern).
To me this is looking upside and could potentially be the start of...
I see that GBPUSD has been in quite a strong uptrend for some time now and has began correcting.
I have labelled the correction as a zig-zag followed by a flat. It does have the potential to become a more complex correction,
however, it is looking upside regardless if it continues correcting or resumes the uptrend.
I have drawn out how I see the flat to have...
Good Morning Traders!
We saw a sharp decline in 5 waves down to the 3 month low. From This point, I expect at least ABC correction in this market to 38% Fib lvl -0.51% . Nevertheless UK economy is in a SLEEP MODE and chances of another Intrest Rate hike by BOE in May is nearly 0.
From Daily chart, we can see that Price is hovering near 200 MA and uptrend...
Ethereum overdue a correction here after great bullish move. Expecting it to retrace to these confluxing areas of support and fib levels. Worth noting that this retracement may also play out more shallow as bullish sentiment begins to creep back into the market.
In this vlog I explore mainly the shape of the younger Bitcoin parabolic correction with the much older and seasoned Wall Street (US30).
The emphasis here is in the nature of the struggle to avoid correction and the similarities in form.
The parabolic struggle seen in Bitcoin on the daily time frame, could well be reflected in the US30 on a weekly time frame....
I see this pair to be creating the elliott wave structure upwards.
It appears to be making the fourth wave, and I have drawn the fourth wave down to the lowest possible point it could correct to.
If price action passes the fourth wave marker then this count is incorrect.
I also noticed that the Fibonacci retracement marks the 61.8% very close to where I drew the...
It seems that DXY has been acting within this price range for some time and I have seen it as a more complex pattern.
This is the fist time I have posted a WXY formation so any guidance or pointers on these is appreciated, as with all trading knowledge.
I anticipate price to continue upwards and finish around the trendline.
If that is the end of the correction,...
The chart is full of too many failed impulse waves, therefore, Its very difficult to find an Elliott wave count. Despite this, I believe we are near the end of the correction as a perfect (golden ratio of fib) lies within the apex of two major trend lines. If the chart continues into the apex I expect a big move up or down and will have to be played with caution....
Gold seems to have finished the 5 wave pattern which my other gold prediction covered.
The five wave cycle has finished and has formed an A wave, is currently in the B wave and I am looking at any break of the short term trendline.
This would confirm downside.
I would not be surprised if the correction did retrace to the 50-61.8% of wave A before wave B...
A-B fib retracement shows the D finish in 61.8-78.6% area.
I expect price to fall into the 61.8-78.6% area of retracement C to D.
I am waiting to see if it is confirmed for further downside at this point, before making any further predictions.
GBPUSD looks like it has finished the 3rd wave and has began correcting.
I would expect price to climb to the 61.8 to 78.6 % fib retracement level finishing the B wave.
I then would anticipate price to fall down the the 161.8% level of wave A.
This would complete the first of possibly 3 corrections.
If entering, I would wait for a larger/engulfing bullish...
Expecting gold to form a short correction like that of wave two.
Expecting another impulse up after correction is broken.
If confirmed, fifth wave can be expected to go to the 38.2 extension, with unlikely possibility of reaching the 61.8
Never looked into gold, trying to apply my analysis to as wider range as possible. Any feedback appreciated.