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Correctivewave

EUR/USD ahead of NFPThe EUR/USD pair is facing challenges in capitalizing on the slight rebound from the level of 1.07566 observed the previous day. Despite remaining below the 1.0800 threshold as the European session approaches, there is a lack of sustained selling pressure. Traders are eagerly anticipating the release of the highly anticipated US monthly employment data. As the market eagerly awaits the Nonfarm Payrolls (NFP) report, there is a collective interest in gaining insights into whether the historically tight labor market is showing signs of loosening. This would reaffirm the dovish expectations regarding the Federal Reserve (Fed). Presently, market participants are increasingly convinced that the US central bank has concluded its policy-tightening efforts, with a growing inclination toward pricing in a 25 basis points rate cut as soon as March 2024. Consequently, the forthcoming vital data will play a pivotal role in shaping the Fed's policy outlook, subsequently influencing the demand for the USD and potentially providing significant momentum to the EUR/USD pair.
Long
by ekesam
#USDCNY long term selling opportunityPrice in Daily timeframe seems like to complete 5 wave bullish move and also we can see bearish standard divergence between price and MACD which is a very good signal for pinpointing the top. But the important thing to remember before taking position is to see market structure shifting to the downside with forming a lower high or creating a new low which at the moment non of this signals has been given by the price. So its best to wait for the price to confirm the bearish signals its giving to us before jumping to trade. Please also look at the other analysis in the weekly timeframe that I have posted for higher time frame confirmations which is also tagged.
Short
by mohemati
1
USDCAD Elliott Wave: Anticipating Downward CorrectionThe USDCAD currency pair has recently exhibited a noticeable five-wave impulsive upward movement. This analysis suggests that wave 5 of this impulsive move has concluded at the level of 1.3791 . Consequently, I'm anticipating a corrective ABC wave pattern to the downside. At present, my analysis indicates the potential for the support level at 1.36892 to be breached, serving as confirmation of the downward movement. A conservative approach would involve entering a position upon the retest of this support level once it has been breached. It is important to exercise caution with respect to this pair, as it may experience increased volatility due to the release of Non-Farm Payroll (NFP) data and employment change figures for the Canadian Dollar (CAD) today. Based on this analysis, my medium-term target for the pair is 1.35753 , with the ultimate target identified at 1.34887 . This outlook becomes invalidated if price breaks the 1.37910 to the upside. Cheers!
Short
by Samuel124
Bears Beware of B WavesPrice stopped fall at the 0.618 retracement ~4321 SPX and held for an intraday double bottom ~4310. Holds above the previous Friday's finish after a mad V rally. Stonks remain in a downtrend but this countertrend move may be only halfway up the flagpole. C wave ought to carry index to the upper trendline of falling channel, another 100 pips above. Confirm Monday. Price action 10/13 was indeed spooky, from where came this mad gap up, but it vaporized in under an hour and the rest of session was spent testing the 20 DMA. If you short it here you may well be selling at the bottom, be ware! GLTA
TVC:SPXLong
by DaddySawbucks
BTCUSD: 0.618 Retrace Likely Before Continuation HigherBitcoin has Formed a Peak during after a 5th wave while trading at the top of a Broadening Consolidation Structure and showing Bearish Divergences. If things were to go as one would expect, I would think BTC should have around a 20% pullback to about 23k which would take us back to the POC and would be a 61.8% Retrace of the Local Low to High. If we can then begin a rally from the 61.8% retrace, it will then be a Potential Partial Decline which would almost guarantee that BTC Bullishly Breaks out of the Broadening Pattern upon making contact with the upper trend line. If this were to happen I would say BTC could very easily see 40k but I also think that it's very likely that this will be the pivotal point that begins Bitcoin's greater rally up to $60,000 then $146,387 as can be projected via the volatility trends that can be seen in this chart below:
INDEX:BTCUSDShort
by RizeSenpai
EURUSD SwingHello everyone, Above I have my analysis for EURUSD. As we can see in this photo, EU has been on an diagonal downtrend for some time now. Recently, price has broken structure of the uptrend trend line and now in the process of retracing and forming a corrective wave. In the screenshot we can see I put the Supply and Demand zone, this is where we will look for price to stay in until the next long swing. We currently waiting for the price to reject in our supply area and correct to our demand area and also have rejection to confirm this set up. I'm open to feedback from anyone and everyone about my analysis. If anyone of you have a similar set up or enjoy my analysis breakdown please like and share with other fellow traders. Thank You
Long
by NoPumpFakesFx
1
EURJPY I In correction and will decline from resistanceWelcome back! Let me know your thoughts in the comments! **EURJPY 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 to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
5
EURCAD I Short from Supply ZoneWelcome back! Let me know your thoughts in the comments! **EURCAD - 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 to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
7
USDCHF Correction and continuation - BUYWelcome back! Let me know your thoughts in the comments! **USDCHF - 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 to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
9
Easy way to catch impulsive waves (pullback on EURUSD chart)Hello everyone, learn how to catch the end of wave 4 and trade with the trend. This corrective wave has made a double bottom on 0.76 fib of the previous impulse movement. The double bottom was achieved with an engulfing candle (entry point). Cut your loss below wave 2 (wave 4 is not supposed to retrace that far), and catch your first profit target at the retest of wave 3 level, and let your profits run. Goodluck, Joe.
Long
by joe-abdallah
2
DOW JONES UPDATE - US30US30 UPDATE The Dow jones is over extended to the downsid since the recent massive bearish move which we capitalised on. On the Left we can notice price is testing a very strong level of Weekly demand, in which i would expect a reaction from buyers. On the right on the 4H chart notice how yesterday price swept the liquidity below the floor that was created, now the buyers stops have been removed and the market maker has induced sellers back into the market i do favour a relief correction here as institutional trades are likely to take profits on there shorts. No entry confirmations what so ever at the moment for the potential intraday long setup however monitoring the LTF for entries
ULong
by ITSCRYPTO1
GBPCHF LONGFor a very long time, since 1993 GBPCHF is in down trend and it has created completed the 3rd wave on 1 august 2011. Till then its in a flat correction for the 4th wave of the circle. And for the 4th wave its forming ABC pattern while A & B of the ABC flat correction is also completed and moving for the C leg of the 4th Wave. Today is 15th August, and historically August is the bottom of the 3rd wave, so we expect long position for this pair. For this idea our invalidation level also marked. All the best!
Long
by KhalasMunafa