Time for me to give my view on SPX for probably the next month. The EWT in this chart should only be used as a guide. It's very subjective and price action and geometry are what I give more weight, so lets discuss that for now. I'll also focus a bit on the indicators below the chart as well. First, notice the sell signal in January of 2022 which was the top of...
Price action and chart pattern trading setup > Overall wave pattern moving in diagonal uptrend with a possible wave 4 triangle sideway. > Now making a strong pullback to triangle support could be E- wave of ABCDE pattern at EMA200W zone > Entry : A false triangle breakdown for a possible long entry between S1 and possible S2 > Target : bullish pennant at major...
Hi everyone! From a technical point of view, the trend on the daily chart is absolutely bearish, but at the same time, with the completion of the bearish impulsive structure (12345), I do not exclude the continuation of the corrective structure (bullish) in play. At the moment we do not have a confirmed bullish signal yet, but if in the short term we manage to...
Gold Forecast Gold is in a bullish cycle, and we will look for long opportunities when we see a clear 3 legs-down corrective structure. Unfortunately, the connector (B) of the current (A)(B)(C) is too shallow and it does not retrace enough according to our strategy to allow us to enter when the price reaches the IZ (grey zone). We do expect the price will...
Price action and chart pattern trading: > A possible 3.C wave correction position - pullback entry at EMA20 zone - Target EMA200W / Fibo 0.5 retracement previous major 1 wave zone -25% downside - Stoploss @ wave 3.b position -10-12% > Fundflow RSI tapping oversold zone but no bullish divergence signal > BBD below 0 baseline potential lower price trending > KDJ...
500 PIPS INCOMING ON GBPUSD , A healthy correction happened with 0.786 retracement , according to ew looks like impluse going to begin !
Price action and chart pattern trading: > An possible ABC correction scenario with bullish pennant pattern or descending triangle > The price currently SMA20 crossing below SMA50 with MACD crossing down bearish support indicator > PULLBACK TRADE @ bullish pennant support level at a further breakdown with local doubled top pattern targeting -4.5% downside to...
Just for Educational Purpose Close Below Trendline is imp for Short !!!! Also a Double Top Formation ..... SL can be Put at 2551 lvls.....
It Seems that we are about to see a bounce (leg B in blue - 8h view) then the deep retracement to C (purple, 1d view)
On Break of B-D Trendline .... Long Can be taken with SL Around ..... 849 And can Expect Targets around 890 levels
Price action and chart pattern trading setup > Rising triangle ABCDE pattern @ breakout neckline position > TP1 estimated @ height of E wave +17% upside 1.618 extension of CDE wave > Stoploss @ triangle support -8% downside > RRR: 2:1 Always trade with affordable risk and respect your stop
Traders , Silver retraced 50% fibo retracement from the extended 3rd wave based on elliott count!! we are looking to long silver now with a 23$ as first target. for short term scalping kindly wait for a 20cent pullback from here before buying the commodity. good day!!
Here on daily time frame EURGBP is like to push up little bit then and move down using the Elliot wave
Hello everyone! From a technical point of view, the major trend is bullish on large time frames, but in short term looking at the intraday chart, a consolidation of retracement around 1.844 area is possible. If we look on the hourly chart, the Price Action should develop a harmonic structure with the same target area. That said, the area around 1.883/1.891 is a...
I believe there's another leg down coming the Q'S. I have highlighted where it may reverse. There's a potential bearish harmonic bat completing in the coming days and weeks. Good luck!
Hello Traders, Here is an analysis of GBPJPY. It seems that this pair is already completing the WXY structure and thus will move to the downside. Alternation is a break above the trendline and can be a new movement to the upside. I might be wrong but the bias is more to bearish structure
I expect USDCAD to drop in the following days, because it is at the resistance zone of the M15 and M30 price channels respectively. Secondly, it overextended price in order to fulfill EW impulsive move evident through the divergence on TDI and Awesome oscillator. As such, the correction of that count is expected. My short term target is resistance zone that was...
Price action and chart pattern trading > Elliott Wave projection possible the end of Intermediate 4-wave downtrend > Complex inverted head & shoulders formation ABC uptrend correction > Bullish divergence in previous 5-wave downtrend confirmation > Entry @ neckline breakout - RSI downtrend breakout > Target @ C-wave uptrend 1.618 extension of A-wave near volume...