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Doublethree

AUDJPY Resumes Lower in 7th Swing of double correctionThe decline from 9.13.2022 high in FX:AUDJPY shows a 5 swing Elliott wave sequence suggesting further downside is likely. Near term, rally from 3.24.2023 low ended in 3 swing at 90.77. We labelled the rally as wave (B) as 1 hour chart below shows. Internal subdivision of the rally from 3.24.2023 low unfolded as a zigzag. Up from there, wave A ended at 90.168 and pullback in wave B ended at 87.59. Wave C higher ended at 90.77 which completed wave (B). Wave (C) lower is now in progress with internal subdivision as a 5 waves. Down from wave (B), wave ((i)) ended at 89.38 and rally in wave ((ii)) ended at 90.05. Down from there, wave (i) ended at 89.7 and rally in wave (ii) ended at 90.02. Pair resumes lower in wave (iii) towards 88.23, and rally in wave (iv) ended at 88.76. Final leg wave (v) ended at 87.91 which completed wave ((iii)). Wave ((iv)) rally ended at 88.478. Final leg wave ((v)) ended at 87.85 which completed wave 1. Wave 2 rally is now in progress to correct cycle from 4.20.2023 high in 3, 7, or 11 swing before the decline resumes. Near term, as far as pivot at 90.77 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
by Elliottwave-Forecast
Dow Jones Incomplete Bearish Sequence It can observed from the chart of Dow Jones Industrial Average Index we are in the mid of the correction happening right now. The Elliott wave sequence are as mentioned below: 1. We made an internal WXY in miner degree. 2. We have completed W-X wave of higher degree WXY. 3. We are in Y leg of the higher degree WXY. 4. Out 3 wave of Y leg we have completed A wave. 5. We are currently in B wave of abc of Y wave. 6. Invalidation level is mentioned on the chart. Any doubt you may directly ask me on comment section. This is not a trade recommendation but only a view. Thank you. Regards
U
by imkhushal
9
Small Caps Russell 2000 Looks Attractive: Elliott WavesHello traders and investors, today we will talk about small caps Russell 2000, in which from Elliott wave perspective, we see a completed 7-swing complex correction from the highs. Russell 2000 topped and completed its 5th wave of a five-wave bullish impulse already back in November 2021. Since then we can see slow, choppy and overlapped wave structure that we see it as a correction within uptrend. It's ideally a complex 7-swing A-B-C-X-A-B-C, called also a double three W-X-Y corrective pattern. A Double three is a sideways combination of two corrective patterns. It's a complex Elliott wave that is subdivided into three minor waves W, X and Y. Its internal structure is (3, 3, 3). In effect, the number three relates to corrective waves, therefore the structure (3, 3, 3) indicates that the WXY wave pattern is composed of three distinctive corrective waves. • A combination of two corrective structures labelled as WXY • Wave W and wave Y subdivision can be zigzag , flat, double three of smaller degree, or triple three of smaller degree • Wave X can be any corrective structure Well, if we are on the right path and if Russell manages to recover back above 1920 region and resistance line of a corrective channel in current risk-on sentiment, then we can easily confirm support in place and bulls back in the game. All the best! 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.
CME_MINI:RTY1!Long
by ew-forecast
1
Gold sideway correction with Elliott wave count 23 June 2022gold price made its first impulse wave from 1786 to 1869 since it made top at 1869 it was making complex sideway correction WXY aka double three with y making abcde triangle (with hammer confirmation on final wave E) since this gold bull rally driven is driven by upcoming gold crazy bull rally like march 2020 to august 2020 recession and stagflation in usa first upside target will be 1890 minimum while real target is 2k speculation being fed starting QE again to save economy from recession
OANDA:XAUUSDLong
by Sangam-Agarwal
4
Difference between ABC and WXY Elliott Corrective WavesElliott Wave Principle , developed by Ralph Nelson Elliott, proposes that the seemingly chaotic behaviour of the different financial markets isn’t actually chaotic. In fact the markets moves in predictable, repetitive cycles or waves and can be measured and forecast using Fibonacci numbers. Elliott wave predicts that the prices of the traded financial instrument will evolve in waves: five impulsive waves and three corrective waves. This educational article aims to present only the difference between ABC and WXY corrective waves and will not cover other wave paterns (triangle corrective waves , or any of the impulsive (motive) wave structures) Both ABC and WXY corrective waves are patterns made of 3 waves (swings) corrective structure and this similarity mostly confuses practitioners while labeling. The main difference between the two is in the internal subdivision of the waves (legs) Each pattern has its own rules, where ABC could be - a ZigZag patern that have 5-3-5 internal stracture - a Flat (Regular, Running or Expanded Flat) patern that have 3-3-5 internal stracture while WXY patern is made of 3-3-3 internal stracture. WXY is combination of two corrective patterns , hence often called as a double three or a double correction. Each wave W, X or Y could have almost any corrective structures (double three, triple three, zigzag, flat, triangle (wave W can’t be a triangle structure), or any complex combinations) WXY is also know as 7 swing stracture even it is made of 3-3-3 internal swings, the X-wave is considered as a connector wave because it binds two corrective waves and is counted as 1, W and Y waves are counted as 3 and hence 7 swings WXYXZ is combination of three corrective patterns, hence often called as a triple three, a triple correction or 11 swing, WXY rules applies also for WXYXZ Tips : An elliott wave practitioner in general may assume a trend continuation once an ABC correction is completed. In todays market complex corrections are more common than simple corrections, the markets are in a correction phase nearly %70-%80 of the time. Hence, once an ABC correction is completed a trend continuation failure must be considered in the trading plan and in fact, this failure is the main characteristic of the X-wave, a trend that has failed. Once X wave is completed another corrective structures is to be expected live examples (not financial advice, just experimental analysis) GOLD BTC Below is a link to Elliott Wave Oscillator study, where the "EWO with Signals" indicator helps traders to track the waves (in lower degrees). It provides insight to traders to observe when an existing wave ends and when a new one begins
Education
by dgtrd
43
GOLD long around 1852, Tp ≈ 1960. 15 June 21GOLD indeed forming a double three complex wave pattern as previous post on .. And most likely completed its leading diagonal pattern which is Wave (A) (cyan/light blue)..Wave (B)(Cyan/light blue) could be expanding flat wave (3-3-5 waves).. We might just completed the 1st phase of the 3 phases of expanding flat wave pattern which is wave A (yellow) with 3 sub waves (wxy, green cicled).. Long Gold at around 1852, Stop Lost at 1844, Target Profit at around 1960
FX:XAUUSDLong
by SteveTan
BITCOIN - Not a Triangle! Still a Double Three!!!This correction might not be over. We have already completed pattern 3-3-5 Flat Correction, Primary Structure - Double Zig-Zag in Intermediate (W). Then we completed what looks to be a large ABC pattern or Wave X and is developing, Intermediate (Y) - Expectations and Minor degree ABC sequence. A "Double Three" will complete one corrective wave pattern, or there is also something called a Triple three which has a corrective pattern, X Wave, corrective pattern, X Wave, and then ends on the third corrective pattern. Will probably wait and just add more longs to my position at the bottom of the Zig Zag if that plays out. Yes, very possibly around $8,500 ( BTC1! ) CME OPENING GAP *** At any rate, like always, this is not advice, just one person's opinion of the current chart situation. I am not Bearish long term. I am a Bull. A new Bull run will start with a very aggressive and impulsive 5 wave move up. We have not seen that yet. I just have not been able to line it up with a valid impulsive pattern yet. The first target is around $9,100 (As there is much support in that area and where many shorts may start to cover and many bulls begin scaling in long). Other point (retangle green) marks the CME futures GAP and target full fibo 1.236%, or target complete 1.618% to retracement I am not Bearish long term. I am a Bull of Bulls. Elliott Wave Double Three Combination elliottwave-forecast.com Bearish | SELL Levels Entry @ 11100.00 SL @ 12299.00 TP @ 9300 / 9100.00 / /8500 / 7500.00 Bullish | BUY Levels Entry @9100 / 8500 / 7500.00 (or Market Price) with SL @ 5800.00 TP @ 10500.00 / 9500.00 / 7500.00 / 10000.00 / 14000.00 / 16500.00 / 18000.00 / 21000.00 / 25000.00 / 30000.00 / 35000.00 Safety Measures: Moving SL to beak-even when in the green.
BITFINEX:BTCUSDShort
by ferGOD
5
BITCOIN - Elliott Wave Double Three CombinationThis correction might not be over. What I can say with confidence, however, is that we have already completed pattern 3-3-5 Flat Correction and that did not end the overall correction. Then we completed what looks to be a large ABC pattern or Wave X and is developing, did not end it. Some corrections become more complex with multiple Elliot Wave corrections together before the overall correction finally ends. A "Double Three" for example will complete one corrective wave pattern, have an X Wave, followed by another corrective pattern and then it's over. Or there is also something called a Triple three which has a corrective pattern, X Wave, corrective pattern, X Wave, and then ends on the third corrective pattern. What appears to have happened is that we definitely completed a 3-3-5 Flat corrective pattern and I'm assuming the big ABC that followed was the X Wave and we are now trying to finish up with the final corrective pattern. The Zig Zag makes the most sense at this point and looks to be developing now. The Zig Zag is a 5-3-5 type corrective wave pattern. Will probably wait and just add more longs to my position at the bottom of the Zig Zag if that plays out. Yes, very possibly around $8,500 (BTC1!) CME OPENING GAP *** At any rate, like always, this is not advice, just one person's opinion of the current chart situation. I thought about raising cash at the top of Wave B but will probably wait and just add more longs to my position at the bottom of the Zig Zag if that plays out. Yes, very possibly around $8,500 I am not Bearish long term. I am a Bull of Bulls. A new Bull run will start with a very aggressive and impulsive 5 wave move up. We have not seen that yet. I just have not been able to line it up with a valid impulsive pattern yet. Elliott Wave Double Three Combination elliottwave-forecast.com
BITFINEX:BTCUSDShort
by ferGOD
8
Bitcoin due for over 50% correction or forming wave 4 triangle?Hello. Have been studying, learning and viewing the charts. Hoping to share this idea as a current view of the market from a student. Feeling that the run from $3000 to $13800 may have found exhaustion. If we break above the 50 ema on the hourly chart around $11600 then I think it is possible that we are finishing a triangle in sub wave 4 before the last impulse. Personally I think we are in sub wave 2 and are going to correct over 50% during a WXY Alternate estimate:
COINBASE:BTCUSDShort
by KondrackiKarl
1
DXY Bearish - Double Three Pattern UnfoldingDXY (Dollar Index) Structure shows me that it has more chances to show a Bearish outcome than a Bullish one. According to the previously posted DXY - Cheating with the Joker - Double or Triple Three? video, this could very much turn out to be true. Wave Counts suggests that the Double Three Pattern is complete and that DXY could start unfolding a possible Ending Diagonal towards 87.30 Levels. Preferred direction is Bearish and the Main Count is my favorite at these times, however, should the Dollar Index start a Bullish move, I would be looking for limitations around 91.40 Levels. Main Count vs Alternate Count: Alternate Scenario: If DXY would surprise with one more Bullish Swing, it would be most probably considered as limited because that would imply extending the current Corrective Structure from a Double Three into a Triple Three, which would rarely occur. *Note: 91.40 would be closely watched if this scenario would turn out to be true. Reasons: 50% Fibonacci Retracements of Minute III (red) 150/161.8% Fibonacci Extensions of Minuettes (w)&(x) (purple) Bearish Divergence expected at the mentioned Fibs Preferred Scenario: Expanded Flat within a Double Three Pattern would be considered as complete at these stages as multiple facts point towards that possibility. 38.2% Fibonacci Retracements of Minute III (red) have been reached (default measurements for Minute IV (red)). False Break-out caused by Minuette (x) (purple) decreases the chances of the Triple Three scenario 100% (default measurement) Fibonacci Extensions of Minuettes (w)&(x) (purple) have been reached Sub-Minuette c (blue) of Minuette (y) (purple) unfolded as an Ending Diagonal which is seen as a reversal Patern Minuette (ii) (black) shows a possible Right Shoulder in a Head & Shoulders Formation, which is a Continuation Pattern Recent up-swings are causing lower-highs which could be a solid sign of upcoming Bearish Divergence Dollar Index 2H Interactive Chart: USD/JPY - Running Flat pointing towards 103.00 USD/CHF pointing towards 0.9050 Many pips ahead!
TVC:DXYShort
by EW4X
7
Bitcoin Correction Likely Not Over Yet!****Note: I'm not sure why the main graph is not showing all pertinent information...please look at photos attached below for better idea!**** It seems certain that an Elliott ABC correction completed for BITFINEX:BTCUSD ; however I am not quite convinced a new impulsive wave have formed. Therefore, we are currently undergoing a "double three" correction. It appears we have developed a 3 wave pattern (3-3-5) since completion of our ABC correction which may indicate this is an "X" wave of a larger WXY combination corrective wave in which "W" represents our initial ABC corrective wave, "X" represents our current position as a reactionary wave, and "Y" represents a continuation ABC correction that has yet to come. 1Day Chart:
BITFINEX:BTCUSDShort
by eth_head
Another look at NEBLBTC with VPVRVPVR shows us that NEBL is at a very healthy price level. The white lines around it shows the developing VA, value area; where all the trade is happening. The POC, point of control, shows where the very most trading volume took place. It's the chalk blue horizontal line We're at the bottom of this and the only way is up! RSI is above 50; for me, this is a very strong indication of buyer pressure. MACD is flattened out: this means we are going to face a consolidation phase, but because we are at the bottom of the trend line, this means that we are only going to go up in value.
NLong
by NeoButane
2