Hello Crypto traders! Today we decided to take a look on BTC Futures chart, mainly because of its open GAP in MAY, which can now act as a strong resistance area. Well, as you can see, BTC made five waves down from the highs, which in Elliott Wave theory indicates a change in the trend. After every five waves, a three-wave pullback follows and as you can see, BTC...
Hello traders and investors! Today we want to update our SP500 against GOLD, SPX/GOLD ratio chart, which we see it now breaking 2018 highs, clearly within an extended wave 5 of III, which means that we should be now aware of a pullback that can cause limited gains on SP500, while GOLD may become supportive. Notice that GOLD is currently trading at strong 2019...
Hello Crypto traders and investors! We have seen a bigger recovery in the Crypto market, but mostly due to BTC and ETH, while other ALTcoins remain quite slow and weak. The main reason is BTC.dominance which is kicking back in. Now that cryptocurrencies are in the mixed recovery, some stronger, some weaker, it's important to keep an eye on Crypto Total Market...
Hello Crypto traders! We just want to update previous BTCUSD intraday chart, where we see pretty nice intraday A-B-C irregular expanded flat correction within wave (B)/(2), from where we should be aware of another decline for wave (C) of a correction or wave (3) of an impulse. Watch out for another sell-off ahead of the weekend. Be humble and trade smart! If you...
Hello Crypto traders and investors! Today we will talk about Bitcoin, its price action from technical point of view and wave structure from Elliott Wave perspective. As you can see, BTCUSD has completed intraday five-wave cycle and after recent sharp decline + broken channel support line, seems like BTC is turning back to bearish mode, at least in three waves...
Hello traders! Today we will talk about Tesla, its price action from technical point of view and wave structure from Elliott Wave perspective. As you may already know, we have been looking for that wave C decline for a while, but seems like it's temporary on a pause as price action is slow and sideways, so wave B correction looks to be bigger and longer,...
Hello Crypto traders! Today we will talk about ICON cryptocurrency in which we are tracking the final wave C that can be completed within a bigger ending diagonal (wedge) pattern, where ideal support would be around 0.50 - 0.40 area, where we also see 161,8% Fibo. extension target of wave A. An ending diagonal a.k.a wedge pattern is a type of pattern that can...
Hello traders and investors! Today we will talk about stocks, specifically S&500 against GOLD (SPX/GOLD ratio chart), in which we see an interesting development we want to share. As you can see, stocks remain in the strong uptrend and there can be room for more gains, we just have to be aware of another, higher degree correction as S&P500 is approaching 2018...
Hello traders! We want to update and share GBPJPY chart, as we saw deeper and complex correction within wave (4). As you can see, GBPJPY dropped in slow price action and overlapped wave structure, which usually indicate for a correction, ideally a complex one W-X-Y, especially if it's nicely connected within corrective channel range. So, now that GBPJPY...
Hello traders! We want to share a chart with interesting and known pattern called triangle on USDMXN currency pair. As you can see, USDMXN is trading sideways since the beginning of 2021. With slow price action and corrective sideways wave structure, we believe it's just a correction within downtrend, ideally a bearish triangle formation within a higher degree...
Hello traders and investors! Today we will talk about commodities, specifically WHEAT, in which very interesting development. Well, as you know, commodities have been very bullish for the last year and some of them made strong and impulsive rise, but this is not the case for WHEAT, as we see slower price action and corrective wave structure from the lows. We...
Hello traders and investors! Today we will talk about NIFTY 50, its price action from technical point of view and wave structure from Elliott Wave perspective. Well, most of stocks across the globe are an impulsive rise since March 2020 lows, so as NIFTY50 which we see it trading in an extended wave (5) of 3 that can be approaching the end soon, ideally during...
Hello traders! Today we will talk about GBPJPY pair, which is trading nicely bullish within a five-wave cycle and there's room for more upside, at least towards 2018 highs. We are tracking five waves up from 133.00 low, which looks to be unfinished. The main reason is current three-wave A-B-C corrective decline from the highs, which should belong to a higher...
Hello traders! Today we want to share with you an interesting intraday setup formation on USDCHF pair, where we potentially see a five-wave cycle in progress from 0.8925 lows. Current slow price action and corrective wave structure we see as part of an a-b-c pullback within wave "iv" that can find the support ideally around 38,2% Fibonacci retracement and 0.9135...
Hello traders and investors! Today we will talk about Japanese Index NIKKEI 225 in which we see very clear bullish pattern. As you can see, NIKKEI made an A-B-C corrective decline from the highs and the main reason why we think it's a correction within uptrend is because of a triangle within wave B in the middle. We know that triangles cannot occur in wave 2, so...
Hello Crypto traders! Today we will talk about ETHBTC cryptocurrency pair in which we see quite clear Elliott Wave pattern. Well, ETHBTC turned down from the highs with five waves which suggest at least a temporary top, so we labeled it as a first leg A/1. Well, after recent three-wave a-b-c corrective rise in wave B/2 with nice resistance around 78,6% Fibonacci...
Hello traders and investors! Today we will talk about TLT treasury bond in which we see very interesting development. We are observing a bigger A-B-C correction, where a five-wave decline within wave C looks to be unfinished. Currently we are tracking a three-wave A-B-C correction within wave 4) that can stop at the strong trendline connected from the highs, so...
Hello traders and investors! We want to update Tesla chart, which is moving nicely lower as expected and looks like there's room for more weakness. Well, on April 15th we have noticed nice and clean bearish setup formation and as you can see, since then it's moving perfectly to the downside towards projected 500-400 support zone. We are talking about A-B-C...