- As per my Elliott Wave analysis on the weekly chart - this coin looks very strong and we should experience more bullish sentiment.
- We are currently in the huge impulse wave 3, subwave 4.
- If we take a look at the volume , pretty much no one is selling, which is a good sign.
- 200 weekly moving average is considered as a massive support by big instituions...
- As per my Elliott Wave technical analysis - it looks like the massive impulse wave can be completed and we are now headed to a retracement.
- On the weekly chart we have a shooting star - bearish candle with a long wick ( PIN BAR )!
- If we take a look at the RSI indicator on this chart, we can see a bullish divergence , which is a pretty strong bearish...
✅EUR_NZD is trading in an uptrend
Along the rising support line
Which makes me bullish biased
And the pair is about to retest the rising support
Thus, a rebound and a move up is expected
With the target of retesting the level above
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Using the ascending channel that XRP has been respecting on resistance and support and also taking into consideration the Expanding Cycle Theory where each Bitcoin peak gets a little further out with time, maybe this could be a likely scenario for the XRP price. We are speculating of course and this may never happen or we could be wrong and XRP goes higher once...
Things seem to be going well down under. With Iron Ore prices jumping close to 8% last week, Australia, the largest exporter of the raw material stands to benefit greatly. In 2021, Iron Ore exports totaled close to US$120 billion. This contributes greatly to the demand side pressure on the Australian dollar.
Looking at the charts, the AUDUSD pair is currently...
Luna has been trading in ascending channel for the last month. It has been trading within the rising channel starting from late November making higher high and higher lows and finally broke out of the channel by making 15% pullback (correction) started a new rising channel within few days. Prices are pushed up with strong volume...
Not financial advice but I’m accumulating small amounts of digibyte in this zone because although its totally possible we can breakdown from the rising channel DGB has been in on the log chart I think its more likely we continue to stay in the channel for longer. Also the head and shoulder target while very possible currently seems like the lesser probability than...
U.S. Dollar/Swiss Franc forming a bullish channel formation. At the moment, there's not entry yet.
But if you look in H4 timeframe, we forming a demand zone that I mark in this blue arrow with some confluence that USD/CHF could to forming a demand zone here.
For that, we would need to wait to know the price action!!!
GOLD is not a good idea to buy based on this 6h chart.
Our last idea to buy with a ascending channel has failed as price turn down to break the support line.
And a retest of the support line after breaking with bearish candle on 6H chart is sending a signal to sell now.
So keep eyes on the bottom three dash lines which could be targets for...
EURUSD is running in a very sharp ascending channel.
I think it is very possible to make a quick moving up to test resistance zone where also is the fibo 1.618 position.
GOOD LUCK ON BUYING EURUSD while Dollars is dropping.
LESS IS MORE!
Gold is on my buying list today.
The big flat red channel saying that gold is running a third impulse leg up with a new possible support above 1830.
1805 is considered as the 1st support and is the start of the 1st impulse leg in the green channel.
Two channels cross on 1889 where I hope will be the target of 3rd impulse leg IN THE GREEN...
Any ascending trendline should be broken one day and usually in the third encounter from below and the weakness of the trend above the price will face a sharp decline. I do not think that Bitcoin will reach $0.01 overnight, but in the long run the chart trend after the break of $ 18,600 could be down And this new trend could indicate weaker bull runs. 18600$ is a...
For what I analyzing in H1 timeframe, the price action only trying to break-out at favor by bulls. But we're in the point that we would need to short in H1 timeframe and keep away the H4 becuase the bullish perspective could be cancelled now, but taking in note that we're in the bull trend.
I will put a sell order limit to $0.7727 CHF and target to $0.7660 CHF...
Canadian Dollar/Swiss Franc still bullish in H4 timeframe, but we would need to see a break-out of this resistance in the gray color around $0.7738 CHF. If CAD break-out this resistance, we would need to hope as next step a pull back to confirm a buy entry to long. Not entry yet becuase the market it's not secure if CAD/CHF going to down, but we find bought.
Alright, so we can clearly see a bullish channel since 2009. During a bear market or stock sell offs, we deviated temporarily from the trend line ;there is no support there at the moment, or maybe we go more sideways. This could mean bottom is if we break 3700, 3311 swift capitulation, then bounce to 3600.
Pattern Identified- Ascending Channel
The Ascending Channel pattern was identified on multiple timeframes to include the monthly, weekly, daily and four hour charts.
Due to recent market climate and conditions, I am neutral on SPY until the channel breaks.
Peace & Prosperity,
*Lines were used on some of the timeframes to...