Tomorrow, I expect we open slightly down to make a more complete b wave. Afterwards we rally quickly to the target box I have for 2. This would complete wave 2 of 1 of (C) of (2). Below is a smaller 15min timeframe showing what would be ideal for tomorrow.
I don't have much time to go into details tonight, but you saw through my updates today, I stopped out of...
OANDA:XAUUSD is reducing volatility amid expectations of FOMC data release. Earlier we saw an attempt to break the strong trend resistance, but now there are nuances appearing
The Federal Reserve is not going to raise or lower rates (at the level of rumors). In any case, this is positive-neutral news for the dollar. That is, if the situation does not change,...
Hello traders. I see DEEP CRAB pattern, ABCD pattern and RSI divergence on USDCHF H1 chart. At the same time, based on the Elliott wave count, I predict that the price is approaching the end of the 5th wave.
TARGET 0.89380
STOP 0.90120
Good luck everybody.
Technical Analysis:
- AMZN is still doing a WXY medium term correction in blue
- In the short term AMZN is finishing wave ((3)) in black of ((5)) waves to complete wave (X) in blue
- We expect that the correction will be finished at around
70 when wave ((II)) in black is also completed
- H1 and H4 right side is up
Technical Information:
- Don't buy AMZN...
At least one complete impulse wave up from low of 4462.25, with evolving impulse wave off low of 4482.25. I would say the key price level to stay above (in the short term) would be 4482.25; if so, I would expect higher highs back towards 4600 for the rest of the week.
An impulsive move below 4482.25 opens up a move below 4462.25 and beyond.
SP500 wave (2) (blue) is probably a running flat pattern ABC (yellow). Where pull back price probably stalled @ 4498 +/- .. A confluence zone of 1) Trend line ( red) 2) Order Block (Red rectangle )
The historical rise has been a compound rise, not an impulse. This indicates that all this rise is nothing but a correction, and it represents 61% Fibo of the length of the previous downward wave.. It is expected for it to drop to the shaded area in order to end the historical correction of the currency.
From Elliot's rules, we find that the price made three historical downward waves, then corrected in three other waves, and it is expected to decline in five large waves in order to end the historical decline of the currency
From the general view of the chart and the update of the previous chart, we find that there is a strong weekly resistance that was tested three times and was unable to break above it. In addition, it has completed a compound upward wave, and it is possible that it will fall strongly in the coming period to visit the strong support area in the shaded area.
Please...
The primary expectation is now that we get an additional corrective leg as a wave (y). The wave (y) should end wave X. This move up should be followed by more downside as a wave Y.
AMEX:SPY September 20,2023
15 Minutes
Achieved $440 as target.
Shorts closed.
I will consider 3 fibs.
The fall 451.07 to 439.94
The fall 444.96 to 439.94.
Ride 439.94 to 443.29.
As of now uptrend only above 451.07.
If we take 439.94 then 444.96 has to break to change trend.
For the rise to continue we need 441.6 to hold today,
9, 21 average is below 50....
As forecasted we saw more upside in the FTSE. We now reached areas from where we can start to reverse. We are looking for exhaustion signs to end wave ((y)) and wave W.
The primary scenario (in green) is now calling for a triangle as a wave (X). We are still missing the E leg before we break down as a wave (Y). The secondary scenario (in red) assumes that wave (X) is in and that we can expect more downside as a wave (Y).
This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
Yellow count represents wishfull thinking. IT would look like an absolute beast of an impulse.
THen we could prepare for the potential pullback and set our longs.
Red count would be more realistic.
While red ii took time to correct, wave iv was just a consolidation.
Cant be sure of the actual count so i provide both...
Will update
If this analysis helped...
Three wave corrective structure in green ellipse, three wave corrective structure in blue ellipse, price action off low of 4462.25 is just starting (red ellipse) but looks impulsive.
This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
