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Elliott Wave

GBP/USD | Inflation Softens as Cable Forms a TriangleThe pound continues to drift lower as softer UK inflation data fuels expectations that the Bank of England could begin easing policy sooner than markets anticipated. The stronger dollar backdrop and fiscal uncertainty in the UK add further weight to Cable. Technical Lens: On the daily chart, GBP/USD appears to be completing a contracting triangle within a larger corrective leg. I’m watching for one more push lower once this structure resolves, with the 1.3150 support zone standing out as the key area to test. That region also aligns with prior cycle lows and the potential termination of wave (y). Scenarios: If 1.3150 holds: price could base out and begin forming a recovery phase toward 1.34–1.35. If 1.3150 breaks: the next downside extension could confirm a broader continuation toward the 1.30 handle. Catalysts: Upcoming BoE commentary and next week’s UK GDP and CPI readings may provide the trigger for a break from the current consolidation. Takeaway: 1.3150 is the inflection point to watch as Cable completes its triangle against a softer UK macro backdrop.
by Alchemy Markets
Silver Punches 45-Year Trend Line and Gets A Return PunchSilver prices reached a 45-year trend line going back to 1980 and has since retreated. The monthly candle for October is drafting a large wick to the upside similar to a shooting star candle formation. In the video, we discuss some downside targets for XAGUSD of this correction that would be considered 'normal' after such a large runup. Typical Elliott Wave patterns like this would call for a retracement back to the mid-40s and possibly $36-37. See our written post from Sept 5 (attached below) when we mentioned "if silver does plow above $4.92, then the 1980 trend line will likely offer a bearish reaction."
OANDA:XAGUSD
by Alchemy Markets
Bitcoin Long: Trying to Primary Wave 3 of Cycle Wave 5Take note that I am using logarithmic chart here. What I believe is that Bitcoin has completed a primary wave 2 of cycle wave 5 and thus we could be going into a very strong primary wave 3 of cycle wave 5. The stop loss will be at the below primary wave 2, or around $103,400, but take note that there could be lack of liquidity then, so my preference will be above it, around $104,300. I argue that primary wave 3 could be an extremely strong wave because the B wave of primary wave 2 sets the all-time-high.
BINANCE:BTCUSDLong
by yuchaosng
Crude Oil Approaches End of Elliott Wave PatternAbove, is the video review for Crude Oil. Taking a look at the longer perspective, a multi-year ending diagonal pattern is nearing its end. The weekly chart for TVC:USOIL suggests the decline is wave 5 of a 5-wave diagonal. The 61% Fibonacci retracement level sits near $49. We're anticipating a bullish reversal between current prices and $49 to carry up to new all-time highs over the coming years. Looking at a clusters of wave relationships and market geometry, I'd like to see Crude Oil reach the yellow box and punch new lows, but it doesn't have to. If prices fall further, then the 61% Fib level at $49 may provide support.
TVC:USOIL
by Alchemy Markets
Gold: From Bullish to Neutral. Target 4292ish.The last time I talk about Gold is on 28th Aug where I expect the break out to the upside. Since then, Gold has moved up by more than 800 points, a massive 20+% increase in less than 2 months. Where does this lead us? Should we continue to hold Gold? Should we go short? My assessment is that we should start to move from bullish on Gold to be more neutral. Gold is like a rocket moving up and trying to short it will be akin to trying to stop a rocket or catch a falling knife in reverse. Over here, I explain how I derive the target of $4292-3 using Fibonacci extension where Wave3 = 2.618xWave1. However, take note that this is not a call for short for we don't know how far Gold may go. It is a call to be cautious and take on a more neutral stance and maybe look out for better risk-reward opportunities. Good luck!
TVC:GOLD
by yuchaosng
EUR/USD Elliott Wave: Still Consolidating 2025's RallyEUR/USD appears to be declining in wave ((iii)) of C of (2). We are following the progression of waves ((iii)), ((iv)), and ((v)) in conjunction with the Fibonacci retracement levels to determine where this consolidation might end. Once this wave (2) finalises, then a wave (3) rally would begin. There is an alternative wave count under consideration in that the sideways price action since July 1 is a large triangle pattern. If so, then EURUSD would need to hold above 1.14. Watch the video analysis for more details.
by Alchemy Markets
EURUSD changing directioEUR/USD Finally Breaks Below Key Moving Averages | Technical Analysis Update In this video, I share my latest EUR/USD analysis — the pair has finally broken below both the exponential (blue) and simple (red) moving averages, marking a potential shift in market structure after months of consolidation since February. We go step by step through: 🔹Breaking under the EMA + SMA Elliott Wave count & correction phase 🔹 Confirmation from the stochastic oscillator 🔹 Key trendline break setup 🔹 Fibonacci retracement (61.8%) and projection confluence 🔹 Short entry zones and target levels between 1.08 – 1.09 💡 Important: This is not financial advice — I’m just sharing my personal market analysis and thoughts. Always manage your risk and use proper stop-loss techniques. If you enjoy detailed, no-nonsense technical breakdowns of the forex market, make sure to: 👍 Like the video 🔔 Subscribe to the channel for more EUR/USD, GBP/USD, and market updates
Short
by MartketsTitan
Is the Rate cut priced In | Potential Gold Correction In this video I highlight the possibility that the highly anticipated rate cut decision is already priced in . If this is the case then we could be at the brink of a healthy correction . I demonstrate what that could look like if we start to pull back and go into correction territory. I support this idea with not only the psychological motive but additional confluences using the TPO chart . Thanks for your support
OANDA:XAUUSDShort
by SJTRADESFUTURES
11
Tesla Short: Stop above $368, TP at $298In this video, I re-initiated the short idea for Tesla. Reason being that I observed that around $367-ish is an important price point (although I have no idea why). Also, the move up has been more corrective in nature (since I drew ABCDE). The move also resembles a rising wedge. In any case, the most important point in this idea is the stop loss which should be set above $368. The ultimate Take Profit Target for me is $298 with a short-term target of $344. Good Luck!
NASDAQ:TSLAShort
by yuchaosng
3
Tesla Short: Expecting Wave 3 of 3 DownIn this video, I go through the Elliott Wave Analysis for Tesla in detail and talk about how the final corrective wave may not be ideal but is still al valid place for a short. In essence, I think that Tesla should be going for a wave 3 of 3 down that will see it going to $273 for a short-term target and even below $214 based on the general market condition that I have previously discussed. The stop loss for this idea is above 349.54 but I recommend setting it higher around 351.85. Good luck!
NASDAQ:TSLAShort
by yuchaosng
20
USDJPY Short: End of Triple Combination and ABC CorrectionOver in this video, I explained my previous mistake where I thought that we have completed a double combination but turns out to be a triple combination. I talked about how the end of Wave Z was very near to the red trendline and that the move down yesterday was actually a wave 1 down and the 3-wave move up is actually an A-B-C that almost fulfill the A=C measurement (missing by 1 pip). This idea is a positional play which I recommend doing slightly bigger size (anchor position + extra size) such that the anchor position will not be closed out until the very big picture is done but we can scalp the "extra size" along the way. However, please take note to manage your risk well. The stop for this idea is 148.96 but if this is breached, I will look for another reversal signal and short and proceed with this idea because I do believe in the big picture set up. Thank you and Good Luck!
Short
by yuchaosng
USD Breakout Short against EUR, GBP, JPY, Gold, SilverThis is an analysis on USD itself where I think that USD will weaken sharply very soon against other currencies including Gold and Silver. As I pointed out in the video, there are short-term trendlines that the various currencies are nearing or already broken. Look for the breaks here to go short against USD and set your stop to a reasonable support/resistance according to the FX pairs you choose to execute this idea against. Good Luck!
Short
by yuchaosng
USDJPY Short: Completed Wave 2 retracement at 61.8%Following last Friday's idea to short USDJPY, now there is another opportunity to do a short if you have missed the previous chance. Or to shift your stop if you are still in the short position and have not yet taken your profit. Or to add in your short position. Over here, I pointed out 2 main things: 1. A 3-waves completion (ABC) for the retracement up. 2. The retracement stopped at 61.8% of the previous wave down. The stop for this idea is above wave 2 (>147.94). The preferred take profit is still at the trendline but for those of you who are doing more short-term trading, I suggested nearer targets using previous resistances. Good luck!
Short
by yuchaosng
Bitcoin ManiaAt these price levels we sit at and the fundamentals, I have to be bullish overall. Although, I have an issue with wanting to call a top/be a contrarian. I see the possibility of a bitcoin top at the 120k and have a tighter band of 115 to 118k to guide me in the short term and at a larger level the 120k to 110k. Ironically in my view it would be contrarian to be in a long right now, but could be the best trade of the day being at the lower 115k support and possibility of a strong reversal up to 120k. At the moment, I am out of my "riskier" ETH and ADA longs to see what the market does at this price level. Ready to jump back in for some fun if we can setup with a nice structure. not financial advice
INDEX:BTCUSDShort
by cryptowaveman
Bitcoin Short: Either Wave 2 of 5 or in Cycle Wave CorrectionBitcoin had completed a 5-wave structure and peaked very near to our previous target of $124,000 (see linked idea on 2nd Aug). Currently it has corrected more than $8000 from the peak. We are either in a Sub-Wave 2 of Cycle Wave 5 or in a Cycle level correction (A-B-C). Regardless, the direction is still down, just the target is different. For Sub-wave 2, the target is $98,400. For Cycle Wave correction, the target is $74,400. At this moment, we do not need to decide on which degree of Wave we are in. We can review again when Bitcoin price nears $98,400 and study the wave structure then. I discussed on where to set the stop loss if you are shorting bitcoin. There are 3 different levels, but remember that only a breach of the peak will invalidate this idea. Good luck!
BINANCE:BTCUSDShort
by yuchaosng
Nasdaq Short Again (nth time): Fibo Extension Level and 5-wavesOver here, I attempt to short Nasdaq again after another failure yesterday. This time, the 5-waves structure is supported by Fibonacci Extension level at 2.618x sub-wave 1 against entire wave 5 structure. However, take note the circled area where I pointed out 2 imperfections in the wave structure: 1. Wave 4 overlaps Wave 1 2. Sub-wave 4 overlaps Sub-wave 1 (a comparison with S&P500 increases the odds that it may still be a valid count) Given the imperfections of the wave counts, we still need to set our stop above the all-time-high to protect ourselves. Good luck!
OANDA:NAS100USDShort
by yuchaosng
3