Elliotwavetrade — Trading Ideas on TradingView

GBPUSD 23/04/2021 Here is my continuation analysis in GBPUSD. After get rejected in 1.4000 area i believe GBPUSD will continue to the downside for making the "C" point to complete the retracement wave 4 before going to the upside again. Enjoy the wave ride :)

Next Week Plan for GBPUSD 12 April This is my continuation analysis in GBPUSD.. for next week I am expecting GBPUSD will go up 1st to make the right shoulder and then continue to downside again to complete the wave projection before continuing UPTREND movement in daily timeframe..

GBPJPY, 4hr tf, 5th wave analysis of ELliott Wave Based on the 4hr timeframe we i tried to analysis GBPJPY movement using Elliott Waves principle. Wave 3rd finished exactly at 161.8 fibonacci expansion level while Wave 4th stopped at 38.2% fibonacci retracement of Wave 3rd. Usually when the 3rd wave stopped at 161.8 fibonacci expansion of Wave 1, the 5th wave length will be the same with the 1st wave. The comparison of 3 impulsive waves will be a 1 : 1,618 : 1 We could try selling this pair with stop loss above the 4th wave top at 134.00 because if price move above that it means wave 5 is completed already. For a better entry we will wait for GBPJPY to retrace a bit to 132.80-132.90 before selling it Sell GBPJPY 132.80-132.90 Stop Loss 134.00 Take profit 1 at 131.70 Take profit 2 at 130.50 Good Luck

NZDUSD: Early Asia Session Sees Triangle Breakout Hi Traders, Price respected key resistance at 0.6436 during the Friday session, thereby forming a barrier triangle. The Asian session has now given us the breakout we've been waiting for. We can keep buying every pullback until we reach the target at 0.65542. Have a good one!

XAGUSD: Continuation of Bullish Momentum As mentioned in previous posts on XAGUSD, I'm strongly biased that price will rally to $20.00 and then some. Here we have a 1-2-3-4-5 sequence, in which wave 2 is a textbook running flat structure. At current levels, price may probably signal reversal with an ending diagonal/v-pattern. Wait for clear confirmation before looking for any long entries.

WPR idea if 1st EW Motive Wave is confirmed. Prepare for bulls WPR is becoming more and more publicly acknowledged. I think it might be ready to show us what its got. But first... It might correct a bit more. Purple count might also be viable, but I believe it to be a bit unlikely. If PURPLEcount is proven correct, then the bull run is ready to start. If YELLOW line is proven right, then the 3rd motive way is delayed a bit. Of course, we might also have sideways movement for a while longer before it's ready to jump. See WHITE drawing. We are still getting data on WPR, so there is little to work on. Watch those fib levels in case of a breakout. There we will hit resistance if we go up.

USD/JPY - Opportunity To Short?Hi traders, hope you're having a good start to your trading week. We have a nice setup forming on USD/JPY on the 4H chart, with a breakout trade. I analyzed this chart and I have discovered that price appears to be in a 3 wave pattern. Price had impulse down leg (See chart for details), had a corrective up move, and now has now started a down leg. I am expecting the new down leg to be equal to the length of the first impulse down leg. With this logic, I was able to predict and plot the next move on the chart. I have replicated a down leg that is equal to the impulse leg, to determine where I expect price to move to. After seeing a nice pullback leg, I was then able to replicate the leg, knowing that the corrective leg had found it's top, which coincides with the resistance line above price. (See chart for details) I am expecting a down move of 110 pips, which will complete at around 109.90. This is under the provision that price successfully breaks much more reliable move than a breakdown without a retest. I do not consider this trade to be valid to create a new position at this time, unless it breaks the horizontal support. So bare this in mind. It would be more ideal if price breaks 111.20, then retests the original support as resistance and then breaks down. This would be the right place to be considering a position in this pair. There was an entry opportunity many hours ago which was taken, but since price moved a lot since then, has now expired. We now need to see a support level break for any new position to be considered. Entering now will have too wide of a stop loss, and is not worthwhile. The target price is not only a measure move price of the impulse down leg, but also coincides with a parallel channel sideways support. This could be a good place to watch for long opportunities, if price bounces in the near future. The calculation is simple, I have simply measured the first impulse leg, replicated this leg and placed the leg to where the the correction ended. Then I had a measure move target. Those of you in my Telegram signals group will already know about this one. And we are watching the trade and waiting for it to become further favorable for us. I will be posting updates on this trade as it progresses below. So leave a like & follow so you can keep up to date with this analysis. If you have any questions or queries, feel free to connect with me.