Formation of Flat Or, Zigzag Correction Can happen Which Push It More Downside.
Formation Of Bigger Zigzag Correction Which Push It Down.
GBPCHF Forming Zigzag Correction Which Push It Downside
Forming Zigzag Correction Pattern That Push It Downside
Forming Flat Correction That Push It Downside.
Theory says: a zig zag wave has a 5 (A) - 3 (B) - 5 (C) structure This might sound obvious for some, but was a deadly trap for me: - the 5 wave up/down structure of a zig zag does not folluw the same rules of a 5 wave structure of an impulse wave.
GBP finally is in bullish zigzag pattern nice setup for trade with low risk do not forget about SL if any changes happens, i'll update it again
this is the last wave! this wave must be an abc pattern with 3 sub-waves, and then the downtrend begins...
bitcoin in time frame 4h is in zigzag pattern and i think the "B" wave is completed . now i expect it to bullish pattern as "C" wave, with $ 9400 _ 9600 dollar targets. after that bitcoin will crash again to $ 7000 or $ 6000.
It looks like the corrective minute wave y of the minor motive wave C of the corrective W,X,Y zig-zag pattern has a little more room to move further down. Wave y at 0.888 is also the 50% FR of minor B of the second A,B,C zig-zag at 0.8974 and the minute wave v at the market low of 0.8786. The correction could indeed end higher, near the golden ratio where another...
Hello everyone! This is my EW count on current BTC situation. I believe that we are currently at 4th wave of 12345 impulsive waves up. As you can see from the chart, BTC formed a perfect 3-3-5 zig zag correction(following all of the EW rules). "Double bottom" at 9100 levels were wave 1 and 2 (IMO), second bottom was actually little bit higher so it CAN be...
Now this is the bigger picture, as we all can see very clearly that a weekly flat(abc-335) structure has been completed, so there is a great potential for the price to go down in 5 wave structure. This is a great opportunity to enter short term position in USD/CAD.
Price still developing flat range of 3200 — 4300. So we need to take advantage of it, and take entries as low as possible inside it and place your take profits in range of 4100-4300-4600. Spread your position size inside 3200-3300-3400-3500 range.
Currency pair EURUSD approaching to very strong support build by Zig-zag formation and strategy fts, so cluster Fibonacci levels 161,8% and 61,8%. Besides in this level is formation well known from classic technical analysis named head and shoulders
*for the chart above, please ignore the price scale. That is just a text book example. At Daily time frame, if price can break below the blue box area (refer to the chart below), then I'm thinking it's going to be an impulsive wave (5 legs) which means more downside to go and it will not be a zigzag pattern at smaller time frame.
Step #1: Set the ZigZag indicator settings at 20 for the Depth and 5% Deviation Firstly, we want to make sure the ZigZag tool will only show the more significant swing high and swing low points in the market. For this, we have to use at least 20 periods for the Depth and 5% deviation to accurately display the market swings. Step #2: Plot the Fibonacci Extension...