My thesis regarding gold is simple—an Expanded Flat correction for Wave 2.
The primary rationale for this determination lies within the retracement on completion of the initial 5-Wave move up on completion of WA. From my perspective, this retracement exhibited insufficient depth to be counted as a W2. Reverting to what I call the Elliott Wave Theory paradox, if...
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...
From a technical point of view, the FX:AUDUSD pair is very interesting and attractive, especially on a lower time frame. If we look at 1H chart we see that the pair completed 12345 bearish impulse structure (or part of corrective structure) and subsequently triggered reaction from wave 5. From our point of view, it should be correct to try to take a long...
Hi Traders!
The trend is bullish on the main time frames, but today we will only follow intraday chart (Log Scale). That said, from a technical perspective, CRYPTOCAP:BTC is forming a 12345 bullish impulse structure, and we are currently in wave 3. If our analysis is correct, Bitcoin could trigger a corrective structure (ABC or ABCDE Pattern) in short term...
I'm currently looking for long on EURUSD. Count is derived from h4,h1,m30.
Entry to (5) Wave of Elliott Wave count.
There is nice looking end of ABC in lower degrees.
SL: Under Invalidation level = TOP of (1)
TP: TOP of (3); Also posible TP on Higer level - use FIB Expansion from (1)+(2).
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As expected, Bitcoin with ticker BTCUSD is breaking higher and we can see strong rise now, with some sharp extensions to 40k level. Notice that we see price in fifth wave, about we talked in our past updates when we were tracking fourth wave consolidation. Well, bitcoin is now moving out of that fourth wave now, with a strong and sharp reaction, so fifth wave can...
Bit of a long shot, but this new move hopefully follows my previous chart idea that played out well and is nearly complete also.
As before, I'm not really focusing on timings, only the Elliott Wave counts.
First...
Price should soon head up and hit my 5th wave at around $40K-$40.8K. However, price could come down first, to around $36.8K - to tap @Anups new...
Hi Traders!
From a technical point of view, NASDAQ:META is very interesting for Day Traders, but at the same time it could also give some opportunities to Aggressive Traders (Intraday) in short term. Having said that, if we look at Daily Chart the trend is bullish in mid-long term, but in the short term we do not exclude a bearish consolidation before another...
The stock is expected to complete its final move to Wave 5 of (V) before undergoing a significant correction, constituting a substantial correction in my view.
My extended target for the upward trend is $143, with plans to consider short positions thereafter. The recent upward movement appears to be forming a rising wedge, adding to the overall wedgy ...
We're getting alternation between an almost indistinguishable wave 2 and this current wave 4. However, if we breach 459, then we have declined lower than .50% of wave 2 and 3, and although we have NO overlap, the chances are high we are no longer dealing with a wave 4.
Therefore I will keep this simple, above 459 and we go higher to complete this larger...
Hi guys,
New analysis...
I have alot of confluence @ $40.800 region
1st) golden pocket from the top in nov '21
2nd) Wave 5 is 61,8% of wave 1-3 (Elliott Wave Theory)
3th) Target of bullflag
Also check my other analysis at the bottom!
The technical structure on intraday chart still remains interesting in the short term. From a technical point of view, the pair could still trigger an interesting bullish swing if it manages to stay above wave 1.
Trade with care
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In this analysis, I talk about how I used Elliott Waves to count the moves of Hang Seng Index from Jan 2018 to 24th Nov 2023.
The main points to take note are these:
1. The corrective move down in 2023 is over.
2. We are still in a minor corrective move down.
3. But a wave 3 up is round the corner and that it will be an explosive one.
4. The risk is low for this...
Hey folks,
In this article, I’ll give you an update on USDMXN, which we’ve talked about before. You probably noticed that the Mexican Peso (MXN) has been quite strong for the past couple of years, mainly because of higher interest rates compared to other places, USDMXN short was a good carry trade.
However, things have started to shift a bit recently....
Broken Trendline Keeps USDMXN In Downtrend For Wave 5 from technical point of view and by Elliott wave theory.
USDMXN shorts are doing very well as we mentioned and highlighted on October 12, when we spotted a corrective recovery in wave (4).
As you can see today, USDMXN turned nicely down from projected resistance and it can be headed much lower as bulls...
