(ASX) RIO: Tinto Limited || March 6, 2024 Master of Elliott Wave Analysis: Shane Hua (CEWA-M) Regarding the big picture (1D chart), it shows that wave 2-red has ended, and now Rio Tinto is entering a Bull market with wave 3-red. Now is the time for price action to decline further with wave (ii)-purple. And since the high of 136.7, the price action downwards has...
(ASX) BHP Group || March 6, 2024 Master of Elliott Wave Analysis: Shane Hua (CEWA-M) (Left chart) The broader context (Daily chart) indicates that it seems the preceding Five-waves pattern has concluded, and you can see that wave ((v))-circle-green ended at 50.84. Following that, there was a downward price action, suggesting that the target of this decline could...
ALD (Ampol Limited) || March 5, 2024 Master of Elliott Wave Analysis: Shane Hua (CEWA-M) (Left chart) In the broader context, we observe that the major trend is bullish, despite the current price increase appearing somewhat lacking in strength and sharpness. Nevertheless, this is generally acceptable. Wave iii (circled, green) seems to have concluded at the high...
WDS: WOODSIDE ENERGY GROUP || March 5, 2024 Master of Elliott Wave Analysis: Shane Hua (CEWA-M) (Left chart) Looking at the big context, we can see that the main trend is bearish, with many new lows recorded. Currently, my wave count indicates that we've experienced wave 1 and wave 3 (highlighted in green) has declined. Following that, wave 4 started to rally...
Master of Elliott Wave Analysis: Shane Hua (CEWA-M) Bottom line: Gold may continue to rise further. Gold continues its upward trajectory with wave ((3))-red reaching higher highs, while maintaining prices above the low of 2159 is a significant advantage. The only weakness is that wave ((3))-red appears to be nearing completion. I am open to the perspective that...
It looks like E-wave, itself is a flat pattern and after that we expect the price to quickly leave this triangle and reach at least the 98 range.
Polkadot #DOTUSD BINANCE:DOTUSD Polkadot remains a chart of high interest to us, even though we narrowly missed our limit order by 10 cents. Since the near-miss entry and the low at $6, we've seen the development of Waves 1 and 2, and now the question arises whether we're in Wave 3 or experiencing a zigzag correction. However, the latter seems unlikely...
Greetings global traders and investors! Bitcoin has recently hit a new all-time high, showing strong momentum. While you might be tempted to taking profits, robust trading tools like Fibonacci projections suggest unmet price targets and as such, consider holding for maximum gains. Anticipate potential resistance in the 124K - 153K range. Do your...
DOT almost broke the weekly resistance area when it got pumped last time but couldn't manage it sadly. If DOT can close above 10,7 in daily time frame, I'll take a long entry with 5X Cross (%5 of my general margin) and set the target point to 14,7. According to Elliot Waves theory, wave 3 should get me 14,78. Also; Daily Volume seems fine and broke the last...
Choppy price action leads to different possible counts. I'm currently biased towards a leading diagonal (black waves). In this scenario, we should see wave 3 targeting the yellow box between 1.855 and 2.181.
An ascending trend has emerged, confirmed by the upward movement above the bos level. At the bottom, there is a mirror level on the daily 1D timeframe, next to which there is a local 0.55 Fibonacci level, creating conditions for further upward price movement to liquidate liquidity beyond the previous high (ph) / Fibonacci 1.382. At the moment, I expect liquidity...
The final part of a triangle, one degree higher, is a triangle itself, and it seems that the E-wave of one degree higher E has also ended. If this is an active scenario on this currency pair, the targets 1.32 to 1.20 is Available ,and these are the minimum target for a long fall ! The penetration of the price above 1.36 means that theE-wave is not terminated,...
The mapping shall be considered as idea sharing and not a financial advice Trade at your own risk.
Hello👋 📊Analyzing gold price based on Elliott waves and price action... The main and important range of support is $2150 and as long as this number is maintained, it will continue to be an upward trend. The market can complete this upward path in 5 Elliott waves, which we are currently in the 3rd wave The targets of wave 3 are 2213 and 2283, respectively The main...
Hi traders, Last week Bitcoin did exactly what I said in my outlook. It finished the triangle and went right to the take profit area. After it broke the previous ATH it dropped immediately and now it's slowly going up again. So next I want to see it to make a bigger correction (another drop) to take out the late buyers. After that it could go up again. Let's...
Hi traders, Last week XAUUSD broke the high of the (blue) wave b and went up some more to break the large wick. Now it's too high to buy. So for next week this pair could still go up some more but I would look for a bigger move down to see what price wants to do. If the bigger correction was a triangle we could see a reversal soon. Let's see what price does...
Hi traders, Last week SPX500USD made a correction and went up again for wave 5 of the bigger wave 3. Price is slowing down but this pair is still bullish. So for next week this pair could still go up a little more but I think we could see a bigger correction down soon. Trade idea: trade short term buys after the finish of a small correction down on a lower...
Hi traders, Last week EU price action did exactly what I said in my outlook. It changed into bullish orderflow on Monday and after a small consolidation it went up to sweep the previous highs. Next week we could see a correction and more upside on Tuesday and Wednesday. Trade idea: Trade buys after a correction and a change in orderflow to bullish on a lower...