GBPUSD | 1D | my view Please be careful with this pattern most of the time it gives false breakouts and sudden fall, sometimes it takes a retest and creates a bullish setup, if we see a rejection from the resistance level we can look for shorting opportunities, if we see a successful breakout retest and bullish confirmation candles then we can go for the long position. (only enter if we get a confirmation candle, do not enter in a trade early or without analysing the chart)
Crypto
BTCUSD | D TF | ANALYSIS elliott wave.Time for a retracement? in this snapshot, btc completed 5th impulsive wave now its time for corrective wave. am expecting 25k.
Elliott Wave Theory: What It Is and How to Use It
What Is the Elliott Wave Theory?
The Elliott Wave Theory in technical analysis describes price movements in the financial market. Developed by Ralph Nelson Elliott, it observes recurring fractal wave patterns identified in stock price movements and consumer behaviour. Investors who profit from a market trend are described as riding a wave.
How Elliott Waves Work,
Some technical analysts profit from wave patterns in the stock market using the Elliott Wave Theory. The theory assumes that stock price movements can be predicted because they move in repeating up-and-down patterns called waves created by investor psychology or sentiment.
The theory is subjective and identifies two different types of waves: motive or impulse waves, and corrective waves. Wave analysis does not equate to a template to follow instructions. Wave analysis offers insights into trend dynamics and helps investors understand price movements.
Impulse and corrective waves are nested in a self-similar fractal to create larger patterns. For example, a one-year chart may be in the midst of a corrective wave, but a 30-day chart may show a developing impulse wave. A trader with this Elliott wave interpretation may have a long-term bearish outlook with a short-term bullish view.
Impulse Waves
Impulse waves consist of five sub-waves that make net movement in the same direction as the trend of the next-largest degree. This pattern is the most common motive wave and the easiest to spot in a market. It consists of five sub-waves, three of which are motive waves. Two are corrective waves.
Elliott Wave Theory
Image by Julie Bang © Investopedia 2020
Labelled as a 5-3-5-3-5 structure:
Wave 2 cannot retrace more than 100% of the first wave
The third wave can never be the shortest of waves 1, 3, and 5
Wave 4 can't go beyond the third wave at any time
If one rule is violated, the structure is not an impulse wave. The trader would need to re-label the suspected impulse wave.
Corrective Waves
Corrective waves, called diagonal waves, consist of three, or a combination of three sub-waves that make net movement in the direction opposite to the trend of the next-largest degree. Its goal is to move the market in the direction of the trend.
The corrective wave consists of 5 sub-waves.
The diagonal looks like either an expanding or contracting wedge.
The sub-waves of the diagonal may not have a count of five, depending on what type of diagonal is being observed.
Each sub-wave of the diagonal never fully retraces the previous sub-wave, and sub-wave 3 of the diagonal may not be the shortest wave.
Elliot Wave Theory vs. Other Indicators
Elliott recognized that the Fibonacci sequence denotes the number of waves in impulses and corrections. Wave relationships in price and time also commonly exhibit Fibonacci ratios, such as 38% and 62%. For example, a corrective wave may have a retrace of 38% of the preceding impulse.
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Elliott Wave Oscillator Chart
Elliott Wave Oscillator Chart.
Other analysts have developed indicators inspired by the Elliott Wave principle, including the Elliott Wave Oscillator Chart. The oscillator provides a computerized method of predicting future price direction based on the difference between a five-period and a 34-period moving average. Elliott Wave International’s artificial intelligence system, EWAVES, applies all Elliott wave rules and guidelines to data to generate automated Elliott wave analysis.
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What Is the Elliott Wave Theory?
In technical analysis, the Elliott Wave theory looks at long-term trends in price patterns and how they correspond with investor psychology. These price patterns or ‘waves’ depend on rules developed by Ralph Nelson Elliott in the 1930s. They identify and predict wave patterns within stock markets and help predict future movement.
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How Do Elliott Waves Work?
There are different waves, or price formations, from which investors can glean insight. Impulse waves include an upward or downward trend that carries five sub-waves that may last hours or even decades. They possess three rules: the second wave cannot retrace more than 100% of the first wave; the third wave can never be the shortest of waves one, three, and five; wave four cannot ever surpass the third wave. There are also corrective waves, which fall in patterns of three.
How Do You Trade Using Elliott Wave Theory?
If a trader sees a stock moving on an upward trend on an impulse wave, they may go long on the stock until it completes its fifth wave. Anticipating a reversal, the trader may then go short on the stock. Underlying this trading theory is the idea that fractal patterns recur in financial markets. In mathematics, fractal patterns repeat themselves on an infinite scale.
The Bottom Line
The Elliott Wave Theory was developed by Ralph Nelson Elliott. It provides a technical analysis of price patterns related to changes in investor sentiment and psychology. The theory identifies impulse waves that establish a pattern and corrective waves that oppose the larger trend. It assumes that stock price movements can be predicted because they move in repeating up-and-down patterns.
Correction—May 5, 2023: This article has been amended to state that the third impulse wave can never be the shortest of waves one, three, and five.
#BTC 🟢 M15 LONG (Bitcoin). Long awaited failure 📣For more than one week, Sellers have been gaining selling positions... Although they haven't reached the main selling zone 32k. But there was an impressive sale .. and at the same time, grandiose discounts for 26.2K, who didn’t have time - he didn’t have time)
On the retest of the M15 imbalance near our D1 Buy Zone, we expect a hike up and a breakout of the long-awaited level of 31K.
Entry price below market opening price.(✔️)
M15 imbalance at the potential of the D1 range.(✔️)
Below the First Buyer of Exchange Options.(✔️)
According to CFTC futures reports, SHORTS prevail so far. 12851/14261 .(⚠️)
input: 26560 (on test/retest)
sl: 26223
tp1: 26898
tp2: 27566
DOGE/USDT Triangle Alert: Explosive Potential Unleashed!💎Let's dive into DOGE/USDT! Looking at the daily chart, a triangle pattern is emerging after a bullish run. While it resembles a flag and pole, we're interpreting it as a triangle for a balanced perspective.
💎If DOGE/USDT breaks above the upper trendline, potential upward targets are 0.07709, 0.07837, and 0.08035. On the flip side, slipping below the demand threshold of 0.07235 could trigger a bearish wave towards levels like 0.06841, 0.06618, and 0.06347.
💎During consolidation, traders often take positions and place stop-losses near these key zones. Breakouts or breakdowns from here can lead to significant moves. However, be cautious: if post-breakout/breakdown price action is indecisive, watch out for potential fakeouts. Stay vigilant and informed, ParadiseSquad!
ETH/USDT: Navigating Consolidation and SEC's BTC ETF Verdict 📈💎 Paradisers, let's dive into ETH/USDT. The asset is forming a rising wedge pattern, and currently, it's in a consolidation phase while we await the SEC's decision on the spot BTC ETF. If the SEC leans towards disapproval and the price falls below the 1757 threshold – which serves as both the lower boundary of the rising wedge and a significant demand zone – we might witness a decline towards 1642, and potentially even 1478.
💎 In case panic selling takes over the ETH market, there could be further drops ahead, potentially reaching as low as 1368 and 1171. However, if the SEC approves the spot BTC ETF, it could be a good idea to focus our bullish efforts on BTC rather than ETH. Stay attentive and make well-informed decisions, ParadiseSquad! 🚀
DOGE/USDT's Explosive Chart Signals Major Bullish Move Ahead!💎 Hey Paradisers, let's dive into DOGE/USDT's 1-hour chart. An intriguing pattern emerges: an inverse head and shoulder formation. Notably, the right shoulder stands taller, and the price has surged past its previous peak, hinting at bullish vibes.
💎 If DOGE/USDT break the neckline at 0.07752, a bigger bullish shift might be underway, potentially turning resistance into support after breakout. What's on the horizon? Our focus is on upcoming demand zones at 0.07839, 0.07973, and 0.08239. But remember, if the price slips below the right shoulder's base at 0.07469, this pattern could lose its charm. Stay sharp and navigate wisely, ParadiseSquad!
INJ/USDT : Trend Reversal in the Making? Don't Miss This!💎 Paradisers, let's turn our attention to INJ/USDT. On the Daily chart, it's carving out a head and shoulder pattern, signaling a potential trend reversal. Notably, the right shoulder is smaller than its left shoulder, indicating a shift towards forming lower highs.
💎 If INJ/USDT slide below the demand mark of 7.490, it would pave the way for a series of lower lows. This movement could amplify confidence in a bearish direction, potentially steering the price towards demand zones at 6.829, 6.201, and 5.681. However, if the price ascends beyond the right shoulder's peak at 8.378, this pattern might lose its validity. Trade carefully and stay sharp, ParadiseSquad!
AAVE/USDT Price Alert: Traders Beware of Upcoming Bullish Surge!💎 Paradisers, let's take a closer look at AAVE/USDT. Historically, it's demonstrated three traps within a rising wedge pattern, leading to significant moves. Currently, after breaking its lower trendline, it's making a comeback upwards. This could potentially ensnare traders who went short after the lower trendline breakdown of rising wedge pattern.
💎 Moreover, AAVE/USDT has surpassed its resistive trendline, hinting at bullish momentum. If it manages to climb above the supply level at 66.38, we might witness a bullish surge. This is because short traders' stop-losses would likely be triggered here, propelling the price further. Our eyes are set on potential ascents to supply levels at 67.01 and 67.98. Stay sharp and informed, ParadiseSquad!
BTC | 1H: Today PlanIt's definitely not a good sign for bulls if the DXY traders got trapped and CRYPTOCAP:BTC Spot started selling again. We could see some consolidation at the current levels before a further drop. Good luck and happy Friday!
Previous day:
VAH: $29620
POC: $29515
VAL : $29400
Date: 11 August 2023
RUNE/USDT: Triangle Breakout to 'W' Formation - Explosive Signs💎 Paradisers, let's turn our attention to RUNE/USDT. On the 1-hour daily chart, it has broken out of a triangle pattern and is now sketching a 'W' formation, signaling the creation of higher highs. With this momentum, we could potentially aim for resistance targets at 1.108, advancing to 1.184, and even reaching up to 1.280.
💎It's worth noting that the 1.280 resistance is particularly robust, reinforced by the presence of the 200 EMA. This EMA could act as a magnet, possibly aiding the price in its upward journey. As always, stay alert and happy trading, ladies and gentlemen!
CHZ/USDT Triangle Teases Explosive Move - Get Ready!💎 Paradisers, take a moment to observe CHZ/USDT. On the 1-hour chart, it's sketching out a triangle pattern. Currently, it's hovering beneath the resistance and demand zone ranging from 0.0766 to 0.0755. Notably, the resistance is reinforced by the 200 EMA, which could exert downward pressure on the price. Extended consolidation often leads to a more pronounced move in the eventual breakout or breakdown direction. This is because during such phases, retail traders often accumulate positions and overtrade, placing their stop losses close to the resistance and demand zones. This dynamic can amplify the move post-breakout or breakdown.
💎 If CHZ/USDT manages to surge past the 0.0766 resistance, we might set our sights on targets at 0.0771 and further to 0.0780. On the flip side, a bearish scenario would require a breach below the 0.0755 demand zone. Should this level be compromised, we could anticipate a move towards the next demand zone at 0.0745. Stay vigilant and strategize wisely, ParadiseSquad!
Explosive Head and Shoulder Pattern Forming On SHIB/USDT💎Paradisers, turn your attention to SHIB/USDT. The 1-hour chart shows a head and shoulder pattern forming. After achieving higher highs, the price began to carve out lower lows, laying the foundation for this pattern. If it drops below the neckline and the important demand area at 0.00000931, it would validate the lower low trajectory. We might then see a move down to the next demand area near the 200 EMA at 0.00000907.
💎 If the price breaks above 0.00000975 the right shoulder, It could invalidate this pattern.
💎This 200 EMA could act as a gravitational pull, might attract the bears. Stay alert and plan your strategies carefully, ParadiseSquad!
FLOKI/USDT's Hourly Head and Shoulder Pattern Sparks Excitement!💎Hey Paradisers, let's focus on FLOKI/USDT. Looking at the 1-hour chart, we can see a head and shoulder pattern forming, with a notable emphasis around the 200 EMA. The right shoulder appears smaller than the left, suggesting the bears are in control.
💎There's a chance the price might drop below the demand zone and the pattern's neckline at 0.00002210, possibly leading to a bearish movement. What's on our radar? The price could potentially decline towards the demand zones, with the first target at 0.00002912 and a deeper target at 0.00002177. However, if the price surges above the right shoulder, it could disrupt this pattern. Stay tuned, Paradisers, for more updates and happy trading!
MATIC/USDT forming W pattern WIth MACD bullish divergenceMATIC/USDT
💎 ParadiseSquad, let's turn our attention to MATIC/USDT. Currently, it's consolidating beneath the demand and supply zone on the 1-hour timeframe. Interestingly, it seems to have trapped breakout traders who entered at the breakdown of the demand zone.
💎 If these traders have placed their stop losses above the supply zone, a break above this zone could trigger a bullish move. The MACD is also indicating a bullish divergence, further supporting this potential upward shift.
💎 We're looking for a breakout above the supply zone at 0.6857. If this occurs, we could see targets reaching up to the next supply zones at 0.6982 - 0.7039. However, if it continues to consolidate under this area for an extended period, it may reduce the likelihood of our analysis playing out, and it might be better to stand aside.
💎 The 200 EMA is also close to the supply zone, which could make it challenging to break through the supply zone. However, once it does, we could see a significant upward movement. As always, stay alert and happy trading, ladies and gentlemen!
AGIX/USDT forming W Pattern at 1 Hourl TFAGIX/USDT
💎 Ladies and Gentlemen of ParadiseClub, let's turn our attention to AGIX/USDT. It's currently crafting a 'W' pattern, and the MACD is indicating a bullish divergence. After a sharp decline, it's begun to bounce off the demand zone, shaping this 'W' pattern.
💎 The 200 EMA is also hovering near the supply zone, reinforcing it as a robust supply area. Scalpers might consider a short position here, but if it breaks through the supply zone and the 200 EMA level at 0.21347, we could anticipate a move up to the next supply area at 0.2237.
💎 It's important to note that a retest is crucial after the breakout. As always, stay vigilant and enjoy your trading journey, Paradisers!
CFX/USDT Hourly Inverse Head & Shoulder PatternCFX/USDT
💎 Paradisers, let's dive into an update on CFX/USDT. It's currently crafting an inverse head and shoulder pattern on the 1-hour chart. If it successfully breaches the supply zone at 0.1812, it would suggest that CFX/USDT is beginning to establish higher highs and could indicate a trend reversal.
💎 This could potentially propel us towards the next supply zones at 0.1837 to 0.1879. However, if it descends below the right shoulder level at 0.1750, this pattern would be invalidated. As always, stay vigilant and enjoy your trading journey in the crypto paradise!
LTC/USDT in a strong Trendline ....👀💎"Attention, Paradisers! LTCUSDT (Litecoin) is currently nestled within a strong trendline, hinting at a potential bullish surge. This robust trendline signifies a steady upward price movement, indicating possible bullish market conditions. For this bullish scenario to hold true, it's crucial for LTCUSDT to maintain its position above the trendline and show resilience against market volatility.
#BTC 🟢 M15. Buy. (#BITCOIN)Range H4, within which the price has been moving stubbornly for more than three weeks.
After the enchanting liquidation of all longists by one hourly candle (who expected continued growth above 31K), an imbalance formed at the lower boundary of the H4 range, which I decided to take into work.
But he predicted the development of events for Monday, when all markets will be active and volumes will come in.
The long-awaited entry point, I did not expect that there would be an activation on the weekend, but it happened :)
M15 unbalance test, and instantly backlash like a spring to the first target.
The entry point is excellent, the price movement potentials are good.
I will close the targets within the H4 range and a little higher, at the unclosed potential of the previous H4 range (31744)
Another target as an experiment (additional order) is 34400.
Since something tells me that this will be the last long in our current H4 range, after which the price will break through it and fly to test the resistance of D1.
The price has gone under the First Buyer of stock options very much. (and this is currently 31500)
The buy price is below the market opening price. (✔️)
The purchase price is at the lower boundary of the H4 range. (✔️)
The purchase price is below the volume bearish candle. (✔️)
M15 Unbalance at the lower limit of the range H4. (✔️)
entry point: 30160 (on imbalance test)
stop: 29971
tp1: 30345
tp2: 30724
tp3: 31121
tp4: 31744
tp5: 34400