The current down wave should be a 5 waves structure. Price should go down to finish the 5th wave before going up by a impulse wave.
After bearish channel break flat top pennant still forming. Buy when it breaks the resistance line. Target at 0.71370 previous pivot. Risk/Reward Ratio 4.6
McDonalds trades flat both on long term and short term basis. On long term perspective price is now in lateral range after it failed 10-year uptrend, by falling below 1st standard deviation from 10-year mean @ 100 (now the range upper border). The lower border of the macro lateral range is marked by 5-year mean, standing now at 92.5 - MCD has tested and held this...
Corn seems to be in a corrective pattern in red wave 2 that can retrace back to fibo. level of 50-61'8 %. After the correction is completed, price may reach lower levels. www.ew-forecast.com
Goldman Sachs trades laterally on both long term and short term basis. On long term basis price has recently failed uptrend borders, marked by upper 1st standard deviations from 10 and 5-year means - thus entering lateral territory within the 1st standard deviations. On short term basis price has failed to enter a downtrend on 1-year basis by holding within 1st...
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...
I expect price higher before into new LL.. Good trading!
I think it is as it is in my picture..up there bigger retrace follows Good trading!
I do not find price action as impulsive long so I think we will deop, soon.. Good trading!
If my count is correct we spent more than 50% of available time and we are still in the middle of NFP candle.. move should be finished before Frankfurt timorrow.. I see 2 possibilities: sideways and break into higher 3ED..bank holidays suggests sideways. Good trading.
I turned myself in short time bull.. as long 1,11482 holds 3ED is not in place... Good trading!
I read this comgestion as either DZZ or maybe FLAT.. what will happen today at NFP will make me more confident what could be going on.. depends on 1,10159. Good trading!
Possibility 1:A-B-C Possibility 2: A-B-C-D-E
This is a follow up of the last elliott wave analysis published 8 months ago www.tradingview.com The basic change is in the extended 5th. The diagonal as we expected did not work due keep the original wave count as originally stated is impossible due now will see the 3rd wave as the shortest. This can't be even in diagonals. So the best way to update it is by...
Price react with Resistant level of down channel by forming a log wedge pin bar. Short it right @BE
Current wave overlapped wave 1 if we count from the last bull wave. So, the assuming that current wave was wave 4 become invalid. Think about other scenario that price will form the structure 3-3-5 of flat pattern. Bear will continue after correcting up to bear trend line.
EURUSD has been in correction after big decline. The first correction was a Flat one 3-3-5 where I thought the market would reversed and make a new low.. however, the decline was just in 3 waves a zigzag and from there a rally in 5 waves can be seen.. Which creates a scenario of a W-X-Y correction.. Flat(W)-Zigzag(X)-Most likely zigzag(Y) having a 5 wave count as...