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Runningtriangle

GBPJPY Is Consolidating Within A Bullish Running TriangleGBPJPY pair is still at the highs on a daily chart, which looks like a consolidation within uptrend, ideally as a bigger bullish running triangle pattern within higher degree wave (4). The running triangle is a region of horizontal price movement, a consolidation of a prior move, and it is composed of "threes." That means each of the A-B-C-D-E waves have three subwaves. Currently we are tracking final stages of a complex w-x-y rally into wave D that can cause another wave E slow down. So, once a triangle fully unfolds, be aware of a retest of the highs for wave (5) of a higher degree wave C/B.
by ew-forecast
TWITTER: Musk announced permanent bansElon Musk said yesterday that Twitter users who have created fictitious profiles impersonating other users without labeling them as “parodies” will be permanently banned from the said social networking platform without warning. In a separate post on Twitter, Musk said that in the past, the platform would issue a warning before suspending a profile, but as Twitter evolves a broad user verification process, there will be no such warning. Also, there will be no “exceptions”. This will be a condition for signing up for Twitter Blue, adding that any name change would cause the user to lose their identity verification token. They will not be allowed back on Twitter until the said social networking platform has “a clear process for doing so”. Organizing such a process will take at least a few weeks, clarifying the timing of the possible return of Twitter’s most famous user, former President Donald Trump, who has been banned. The new timeline suggests Trump won’t be back before midterm congressional elections on November 08. Twitter had a huge drop in revenue due to activist groups pressuring advertisers, even though nothing changed in terms of content moderation and everything was done to appease activists. Musk’s fortune has shrunk by about 35%, to $209.4 billion since its peak on Nov. 4, 2021, from $320.3 billion, and the almost-sole reason for this decline is the decline in Tesla stock. Over the past year, Musk has sold $31 billion worth of Tesla stock to finance his takeover of Twitter and take it private. Since the deal has not been finalized, Forbes calculates the value of the cash (minus taxes) earned from these sales at their net worth. But the row over the Musk-Twitter deal has alienated investors, who believe Musk will pay an exorbitant amount to acquire the social networking platform and that he is recklessly selling Tesla stock to finance the deal. From Elliott wave perspective, on the weekly chart we see Twitter trading in big bullish sideways running triangle pattern that can take some time before we will see a bullish break-out, as final wave E can be still missing. On a daily chart we are tracking a three-wave (A)-(B)-(C) rally within wave D that can find the resistance around 60 level and from where we should be aware of another slow down within wave E that can retest 40-30 support zone before it takes-off.
NYSE:TWTRLong
by ew-forecast
1
Copper Is Forming A Bullish Running Triangle PatternHello traders, today we will talk about copper, its price action from technical point of view and wave structure from Elliott wave perspective. Copper is trading sideways since May 2021 and we see it trapped in consolidation, ideally within a bullish running triangle pattern in wave (4). Triangles are overlapping five wave affairs A-B-C-D-E that subdivide 3-3-3-3-3 as an a-b-c. They appear to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. Triangles fall into four main categories i.e. ascending, descending, contracting, expanding. It is quite common, particularly in contracting triangles, for wave b to exceed the start of wave a in what may be termed a running triangle. Triangles, by far, most commonly occur as fourth waves. Triangles are very tricky and confusing. One must study the pattern very carefully prior to taking action. Prices tend to shoot out of the triangle formation in a swift thrust. When triangles occur in the fourth wave, the market thrusts out of the triangle in the same direction as Wave 3. Well, looking at the daily chart of copper, seems like it has completed a three-wave a-b-c decline for wave C and it's already trading now in final stages of "c" of wave D, so final leg E yet to come before rally back to highs for wave (5)? Technically speaking, we see intraday resistance for wave D around 4.6 - 4.8 area, from where we may see final wave E slow down back to 4.3 - 4.1 support zone. Trade well! 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.
COMEX:HG1!Long
by ew-forecast
Running Triangle On AUDJPY Suggests A Bullish ContinuationHello traders! Today we will talk about AUDJPY pair and its price action from technical point of view and wave structure from Elliott Wave perspective. AUDJPY is in a sideways consolidation since May 2021 and looks like a triangle pattern. Triangles are continuation patterns, which consist of five waves A-B-C-D-E and with current break above upper triangle line, seems like it's finally finishing a corrective running triangle that can take the price higher with room up to 88 - 92 area. Of course, triangles can be sometimes very complex and they could take even more time, so in case of another decline, then we may see even more sideways price action. Anyway, as long as the price is above 80.40 invalidation level, we can expect further rally. Trade well! 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.
Long
by ew-forecast
ETH: Running Triangle. Time to go lower.While the daily chart remains neutral, on lower timeframes the sentiment is Bearish. Here we can spot a couple of signals that give credence to this bias: - The formation and execution of a Running Triangle (white ABCDE Triangle Wave). - Bearish hidden divergence on the RSI and MACD (yellow lines). - The EMA 10 (baby blue) and MA 20 (yellow) crossing the MA 50 (magenta) from above. Should it be confirmed, ETH's price might observe further losses towards the 1600$ range.
Short
by GondolaCharts
Elliott Wave: TAIEX nears the end of Wave 5The price of TAIEX has been going up after bottomed at 2020/3/19, and it used 2 months to form a Running Triangle (2021/1/21-2021/3/25), therefore I expect the price is now heading to the last wave According to my point of view, the micro wave 1 and 3 has finished, it will be invalided when the price goes above 17819.78 Furthermore, another "evidence" also indicated the subminuette wave v will end around 17784 by adding up the width of triangle wave iv from the ending point of wave iv
TWSE:IX0001Short
by wivanz
2
EW Analysis: BTCUSD Remains Bullish - Intraday UpdateHello traders! Let's talk about Bitcoin. Everyone is already turning bearish, but no one noticed a potential running triangle pattern. Well, Bitcoin is trading sideways for the last couple of days, which more and more looks like a correction in wave (iv) that can be either a running triangle pattern or maybe even a deeper three-wave setback down to 4650 support area in case if we see another decline. Currently, we can see a nice recovery away from that lower red line, so there's a good chance for a bullish continuation back to highs for wave (v) towards 5500 - 5700 or maybe even higher into 6000 area, especially if we consider strong supports across the Crypto market. Technically speaking, if BTC breaks back above 5200 region, then it may start accelerating even higher towards projected targets, but if we see another drop, then keep an eye on next 4650 support area. Invalidation level is still far away at 4000 level! However, both counts are bullish, so sooner or later we should see higher prices. Trade well! 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.
BITSTAMP:BTCUSD
by ew-forecast
4
Understanding GBP/USDI wanted to update and post charts today and do a video (maybe later), but my A/C broke and my office is upstairs in a sauna. But I just wanted to post GBP/USD if anyone is trading it and wondering what's going on with it. At this point, that is what we have. The .618 level is below it... (Gcad hit its .618, hopefully you caught that but don't just go entering a buy on that one right this second). GU may be in the process of producing an ending diagonal (as the dollar index seems it may be doing one), but the pattern GU actually created was a running triangle (see how 'E' broke?). I think GU will probably be a nice buy upcoming, then another sell, but I am not trying to swing it on a buy right now. I drew the pitchfork in attempt to show you the structure it is currently in. I put some trend fibs to point out equal length to 1.236 extension, but it will come down to how it moves from here before I enter a buy on it...
by thillygoosth
Bitcoin's inside of a Running Triangle - possible pathwaysI hope you enjoyed my Ethereum idea I posted two days ago. Bitcoin's chart looks similar to my Ethereum chart on a larger timeframe. Bitcoin is forming a Running Triangle on the daily timeframe. If it completes this pattern it should drop to around the $7k mark to complete wave E. If it decides to do what Running Triangles usually do it should then breakdown further and make a nasty drop. However, it has to breakdown several big support levels to do so. Right now bitcoin touched two quite big 0.618 support levels and it could make a bounce from here, but the bounce should've been bigger in my opinion so I don't have high hopes it will hold these levels. If it breaks the 7800-7700 we will likely see $7k. I will try and update along the way.
BITFINEX:BTCUSDShort
by arnosv
1
[BTC] Bullish Fractals on Collision Course with 200-D SMA?My last BTC post mentioned the running triangle formation signalling continuation just after price rocketed upward on 4/12. That continuation eventually reversed at the dark red resistance line. I've noticed the same running triangle pattern may be forming on the larger consolidation we're going through right now. FRACTALS! Just for education purposes, the running triangle is essentially a symmetrical triangle (continuation pattern). The difference is that wave B ends higher than the beginning of wave A. The rest of the pattern looks the same as an ordinary symmetrical triangle. I noticed that this pattern is the same that occurred during the reversal of the low of $6000 on 2/6. Eventually this continuation run exceeded target price by a little. Another note, I remember that the consolidation back then was crazy and frustrating for traders gauge, just as is it is now. Now, the real kicker is that the target price zone between the 1.618 and 2.0 fib extension (green box) is right where the 200-day MA is about to meander through. That makes an ideal top and target price to shoot for, if this running triangle formation does in fact breakout. HOWEVER, this assumes that price will breakout of both the bright red downtrend resistance from the ATH and the thin dark red resistance. That's going to be a feat and a half. So take precautions, wait for the breakout before initiating longs , reduce your risk. This also aligns with ongoing idea of a long-term Adam&Eve reversal formation, quite nicely actually, the lines that I've kept on this chart since the $6400 lines aren't based on anything but forward-looking visualization of the pattern. Coincidentally though, the rounded "Eve" bottom is filling out quite well, but anything could happen in crypto!
BITFINEX:BTCUSDLong
by NYFinancials
$GBP vs. $CHF Daily Chart.Correction coming to an end |#gbp #chfTraders, GBPCHF 's late-August five wave impulse advance from 1.22202 is approaching its upside termination where Fibonacci-Price-Ratio & Proportion measurements collaborate, highlighting a reversal zone standby, yet not confirmed. This Zig-Zag correction labelled X(circle) has started unfolding since 10.10.2016 from 1.17837 ( C impulsive wave's end). Wave (A), the first leg of the Zig-Zag, a five-wave pattern uptrend has since unfolded reaching 1.29143 Wave (B) has been developed into a Running Triangle Pattern as wave b. ends beyond the start of wave a. with wave e. undershooting a. - c. line. Wave (C) subdividing into a five wave pattern where the 5th wave can be seen taking the form of an ending/contracting diagonal pattern. The reversal signature is still to come, as the diagonal might not have completed yet, even a new higher-high or even a truncated fifth are welcome, although the price action will tell to determine the end of it or not. Downside targets are towards a long way down, already measured, however, an update of them will follow after the reversal signature confirmed. Trade with Discipline Best
Short
by ChrisMark
5
Bitcoin/USD - Support seen near 3,300Bitcoin is currently correcting in wave 4. My preferred count for wave 4 is, that a running triangle is developing. Wave C is currently unfolding and should see support near 3,300 for a rally in wave D closer to 4,378 or slightly above. Before turning lower in wave E to complete wave 4 and setting the stage for a strong rally in wave 5. The ongoing decline in wave C, should mark the lowest point for the ongoing correction in wave 4. Looking back at the previous impulsive rallies, we can see that the fifth wave normally extends, if this also is the case this time, then wave 5 could move all the way up to 9,150. The alternate count for wave 4 is that an expanded flat correction is developing. If this is the case, then the correction in wave 4 should be close to completion for a new impulsive rally in wave 5. Under this count a break directly above 4,980 should be seen. This is my alternate count, but none the less a valid count.
BITSTAMP:BTCUSDLong
by EWS