DAX is caught in a tight range since the "vaccine spike" back on 9th of November. It looks like the classic ED (ending diagonal) pattern, so ideally it should have one last push higher before rolling over.
The ED is my preferred scenario at the moment. This could also be just a complex correction with a b-wave high (in which case the lower trend line could break...
Although there are many counts, I find this count more reliable. I feel the rise in dowjones from march is a correction wave and we about to witness huge correction. For short term traders, I advise buying at any minor correction with the target near 30200. Good luck.
While it becomes clear who will be the next US president EURGBP broke the downward movement and seems very firm to reverse the direction.
This break allows for a rise to resistance levels:
This option is spoiled if the price goes back down in the channel.
In early September, we saw a boost in EURGBP. Then a long correction began. All the time we see how the correction is exhausted by making the lower bottoms.
We have already seen a higher bottom and a break in the resistance. Now the previous peak is about to be break and we are heading to 0.9280 and higher!
A critical level for the analysis is that the price...
It is certainly not coincident that wave five for the Ending Diagonal barrier triangle remain five wave . We are going to see Orthodox move in the 2021 or shortly.
This is really easy to understand for whom has basic knowledge of Elliott Wave.
Do you remember the September 14 analysis?
See D1 chart!
Now look at the current situation. It seems that the upward movement is over and a new decline will follow. A lower peak than the previous one, as well as a breach of the support zone will fully confirm this scenario.
Another possible decline is coming for this pair. I've identified a Harmonic pattern (don't know which one ) but also as an Elliott wave analysis this can be wave B an EXPANDED FLAT wave A and B minor degree are completed and wave C minor degree is an ending diagonal or wedge pattern and it should end between 1.78 and 1.80
Locally, bitcoin seems to be in the process of completing wave 2 of 3 before the next leg up to $13.16k.
Bitcoin regained and sucessfully retested major weekly support above $10.2k.
I suspect fireworks if we can just get a HTF close above $11655 (monthly resistance) and print a HH above $12k.
Looking for B of a larger corrective cycle to...
After making new all time high gold has gone into correction face. The pattern made by correction wave are hard to identify until they are competed and about to end. We can expect an ending diagonal in c wave of abc correction of 4th wave. Since 2nd wave was simple abc correction hence complex is expected in 4th wave before making new all time high.
After seeing the lowest values from 2015 and a rare increase since yesterday, today we expect the increase to continue.
Here are some of the reasons for this expectation:
1. We have a break in the downward trendline.
2. On the daily chart we have several reversal candles.
3. The price fails to make clear lower bottoms.
4. Weekly repulsion.
Like and comment how...
When DXY gains Gold loses. However US data released today will be decisive, Gold might continue the climb to complete the 5 pattern ending diagonal and reach 1980 where bears will once again push down the price as 1980 is a key resistance level.