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Ending Diagonal

Elliott Wave Analysis: WHEAT Is Still Looking For The BottomHello traders and investors! Today we will talk about commodities, specifically WHEAT, in which very interesting development. Well, as you know, commodities have been very bullish for the last year and some of them made strong and impulsive rise, but this is not the case for WHEAT, as we see slower price action and corrective wave structure from the lows. We are talking about (A)-(B)-(C) flat correction where wave C has ended within an ending diagonal (wedge) pattern. The whole structure belongs to a higher degree wave IV correction of a bigger monthly wedge shape that can send the price back to lows for wave V before market finds the bottom. What we want to say is that maybe it's time for a slow down in the commodity market, where WHEAT could be on of the weakest, especially after recent strong and impulsive decline back below lower ending diagonal pattern, which confirms that correction from the lows is completed, but real bears may show up below 600 region! Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
CBOT:ZW1!Short
by ew-forecast
2
💨𝙀𝙡𝙡𝙞𝙤𝙩𝙩 𝙒𝙖𝙫𝙚 𝙋𝙖𝙩𝙩𝙚𝙧𝙣: 𝘿𝙞𝙖𝙜𝙤𝙣𝙖𝙡🌊●●● 𝘿𝙞𝙖𝙜𝙤𝙣𝙖𝙡 (D) ❗❗ 𝙂𝙚𝙣𝙚𝙧𝙖𝙡 𝙧𝙪𝙡𝙚𝙨 ● A diagonal always subdivides into five waves. ● Wave 2 never goes beyond the start of wave 1 . ● Wave 3 always goes beyond the end of wave 1 . ● Wave 4 never moves beyond the end of wave 2 . ● Wave 4 always ends within the price territory of wave 1 (overlap). ● An ending diagonal always appears as wave 5 of an impulse or wave C of a zigzag or flat . ● A leading diagonal always appears as wave 1 of an impulse or wave A of a zigzag. ● Waves 1 , 2 , 3 , 4 and 5 of an ending diagonal, and waves 2 and 4 of a leading diagonal, always subdivide into zigzags. ● In a leading diagonal, wave 5 always ends beyond the end of wave 3 . ❗ 𝙂𝙚𝙣𝙚𝙧𝙖𝙡 𝙜𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨 ● Waves 1 , 3 and 5 of a leading diagonal usually subdivide into zigzags but sometimes appear to be impulses (all zigzags or all impulses ). ● Within an impulse , if wave 1 is a diagonal, wave 3 is likely to be extended. ● Within an impulse , wave 5 is unlikely to be a diagonal if wave 3 is not extended. ● A leading diagonal in the wave one position is typically followed by a zigzag retracement of 78.6 %. ●● 𝘾𝙤𝙣𝙩𝙧𝙖𝙘𝙩𝙞𝙣𝙜 𝘿𝙞𝙖𝙜𝙤𝙣𝙖𝙡 (Contr.D) ❗❗ 𝙍𝙪𝙡𝙚𝙨 ● In the contracting variety, wave 3 is always shorter than wave 1 , wave 4 is always shorter than wave 2 , and wave 5 is always shorter than wave 3 . ● Going forward in time, a line connecting the ends of waves 2 and 4 converges towards with the line connecting the ends of waves 1 and 3 . ❗ 𝙂𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨 ● In the contracting variety, wave 5 usually ends beyond the end of wave 3 . (Failure to do so is called a truncation.) ● In the contracting variety, wave 5 usually ends at or slightly beyond a line that connects the ends of waves 1 and 3 . (Ending beyond that line is called a throw-over. ● In the contracting variety, wave 3 may be equal .618 to .786 the length of wave 1 , and wave 5 may be equal .618 to .786 the length of wave 3 . ●● 𝙀𝙭𝙥𝙖𝙣𝙙𝙞𝙣𝙜 𝘿𝙞𝙖𝙜𝙤𝙣𝙖𝙡 (Exp.D) ❗❗ 𝙍𝙪𝙡𝙚𝙨 ● In the expanding variety, wave 3 is always longer than wave 1 , wave 4 is always longer than wave 2 , and wave 5 is always longer than wave 3 . ● Going forward in time, a line connecting the ends of waves 2 and 4 diverges from with the line connecting the ends of waves 1 and 3 . ● Wave 5 always goes beyond the end of wave 3 . ❗ 𝙂𝙪𝙞𝙙𝙚𝙡𝙞𝙣𝙚𝙨 ● Waves 2 and 4 each usually retrace .66 to .81 of the preceding wave. ● In the expanding variety, wave 3 may be equal to 1.618 the length of wave 1 , and wave 5 may be equal to 1.618 the length of wave 3 . ● In the expanding variety, wave 5 usually ends slightly before reaching a line that connects the ends of waves 1 and 3 . Elliott Wave Principal 2005 and Q&A EWI .
BITSTAMP:BTCUSDEducation
by TradeWaves-EWA
10
Powerful Elliott Wave Diagonal Pattern for USDJPYOne of the benefits of Elliott wave is that it provides context for describing market behavior. A correct interpretation of the Elliott wave pattern can help you forecast important turning points. With these turning points identified, solid risk to reward ratio opportunities can be bubbled up as well. We have such a case within USDJPY. The choppy and overlapping uptrend has the look and feel of a diagonal pattern. If this is the case, USDJPY is on the verge of turning lower and could possibly reach 107.47. Watch the yellow highlight...a breakdown below it will be the initial warning signal that a top may have formed. A breakdown below the green highlight will confirm the top. If this is the correct Elliott Wave pattern carving right now, then USDJPY will have to remain below 112.00 or some other pattern is at play.
Short
by JWagnerFXTrader
EURNZD, 4hr tf, sell the wedge pattern breakoutTrade ideas for EURNZD by Hardi As you can see, a potential rising wedge pattern could be in play. The target should be around 1.6810-20 area. Right now price retracing at the 61.8 fibonacci level after breaking below the support. This could be a short opportunity for this pair as it is now at an interesting level. Using elliott wave principle, we might assume this as ending diagonal as well. Both pattern point towards the same target area. Sell EURNZD 1.7015 Stop loss 1.7045 Take profit 1.6820 (6.2R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
USDJPY Bearish Reversal UnderwayHI traders, USDJPY has been making series of overlapping three-wave pattern. This pattern can be easily labeled in Elliott Wave as an ending diagonal. Ending diagonal usually forms at the end of a trend and leads to an explosive reversal. If this count is correct, we should expect more weakness in USDJPY in the weeks ahead. Target below the origin of the diagonal, wave 4 low, is plausible in the weeks ahead. What's your view on USDJPY? Let me know in the comment.
Short
by Veejahbee
Elliott Wave Analysis: XRPBTC May Retest 2017 LowsHello Crypto traders! Today we will talk about XRPBTC cryptocurrency cross pair as we see an interesting development. Well, XRPBTC is down since the beginning of 2018 and we see it trading in third leg C, but wave C is a motive wave and it has to completed with five waves, ideally as part of an ending diagonal (wedge) pattern, which can retest 2017 lows before we will see a bullish reversal. Something similar has already happened between 2015 and 2017 and if we consider that BTC.Dominance is trading at the lows and strong support, then we would not be surprised if XRPBTC remains in the downtrend for some time. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
5