Currently bitcoin is stewing while cooling down, getting ready for what may be the 5th and final impulse wave, resulting in what possibly could result in a corrective wave that could drop us out of the channel and result pushing us potentially into the low 50s or high 40s
Deepak Nitrite on the monthly charts seems to have completed the price and time wise correction. It seems likely that it will shift gears from being sideways to directional.
Price is currently testing the lower boundary of a daily bearish channel, the 78.6% FIB retracement level, and a long-term support area as well as bullish divergence between price and stochastic momentum oscillator in daily timeframe. This supportive cluster could potentially lead to the formation of a low around this price level. On the other hand, the bearish...
hello dear traders and colleagues. Lets have a look at a very long term chart of CADJPY. If we want to interpret the chart using Elliott wave principle we can see from the bottom that we have completed a 5 wave impulsive bullish move (corrective wave 4 is running flat formation) and then we can see a 5 wave bearish impulsive (which also labeled as wave A). Now...
Price is currently testing the lower boundary of a daily bearish channel , the 1 FIB extension level , and a long-term support area . This supportive cluster could potentially lead to the formation of a low around this price level. On the other hand, the bearish move in price appears to be a corrective bearish ABC move , correcting approximately 61.8% to...
The price chart for Render shows a sustained upward trajectory, with the asset increasing in value by 200% over the past three months. RNDR's performance has been partly influenced by its correlation with Bitcoin, contributing to a 131% rise since October 16. As of now, RNDR is fluctuating between a support level of $3.5 and a resistance zone ranging from $3.86...
Hello, everyone. I hope you are all doing well. Let's dive into the CHFJPY chart and explore a potential buying opportunity in this pair. As depicted in the chart, the price initially formed a bullish impulsive move, but it has since been undergoing a corrective descent for the past three days. Today, it appears that the price has cleared out liquidity from the...
Hello, traders and colleagues. Let's take a look at the GBPAUD chart to explore the potential buying opportunity it presents. Recently, the price broke above the 4-hour bearish trendline and subsequently followed by a bearish retracement. This short-term bearish corrective move has also introduced another trendline, which was breached earlier today, due to worst...
Crypto market made nice and clean impulsive rally at the beginning of 2023, which indicates for a bigger recovery after a correction. Well, Crypto market is now in a corrective consolidation since April, which we see it either as a bullish triangle pattern or maybe even slightly deeper and more complex W-X-Y correction. After yesterday's volatility Crypto market...
My macro work on Russian MOEX Index illustrates how ElliotWave in conjunction with major fibonacci retracements can be useful in providing the context or the operational frame work for every investor and trader to operate and execute one's strategy. Starting from the market Oct'98, we may observe how the price structure has accurately finished its cyclical...
*please be sure to remember that today we have FOMC meeting and they are going to announce funds rate and their policies for coming meetings with a high possibility of a lot of movement in the pairs specially USD pairs during news and while FOMC chairman speaks. Other than that we have 2 very important area for price to turn and possible continuation of downside...
Welcome back! Let me know your thoughts in the comments! ** AUDUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered...
Is EURUSD due for some major correction. As the pair already complete the 5 wave count and already break bullish parallel channel. Now the pair is ready for major correction.
GBPJPY along with all xxxjpy pair is been on huge bullish trend. But currently GBPJPY has created mature bearish divergence. Will the bearish divergence play its role and divert the bullish trajectory to some corrective structure.
DXY has given breakout from bearish parallel channel with very strong bullish impulse. A little bit of correction is due but the ultimate direction is upward.
EURUSD recently was in strong bullish momentum. But currently it seems like a bullish momentum is fading. A deep correction is also due after such strong impulsive move.
Greetings, fellow traders. Let's proceed with our analysis of the GBPUSD pair. Based on the current price action, it appears that GBPUSD has completed the initial corrective wave A within the broader correction. As a result, the subsequent wave B is currently unfolding and may be nearing its completion. If this correction follows a simple structure, it is...
Welcome back! Let me know your thoughts in the comments! ** AUDSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight...