USDJPY Long on breakout and long-term outlook1. USDJPY going for 5th wave up in the short term.
2. Long term is extremely concerning as there are no resistance above 161. Might move above 200.
Fibonacci
XAUUSD - A Golden Opportunity To Do The Opposite A look at a potential short opportunity on Gold using double tops, divergence, the relative strength index (RSI) & Fibonacci levels, Also a conversation about how fundamentals have impacted price & understanding how the markets participants react in the market.
If you have any questions, comments or just want to share your ideas, please leave them in the comment section below.
Wishing you a great weekend - Akil
$PEPEUSDT 0.00001250 on RadarAs of my last post after reaching 0.00001500 range yesterday I expect the price to go back to the 0.00001250 range later today, with major exterior factors/news covered and Ethereum ETF approved but trading only starting mid June I can see a short term correction on the way.
This is not financial advise just my own analysis
$PEPEUSDT Next Move (Short Term Long)So my last long position was opened at 0.00001364, here is my analysis over what I expect to be the next move once it passes ATH again. This is short term and not financial advise.
XAUUSD BUYFOREXCOM:XAUUSD
We've had a steady downtrend with this pair and not many pullbacks. With the wicks printing on the last few candlesticks, it's possible that the sell may be running out of steam. Let's watch this level closely, if this structural level of support holds up, we could see a reversal in the downtrend.
DOG ALTSEASON Incoming🙀 Doge, Shib, Babydoge, Dog - BIG PUMPSWHEN to BUY 4 DOG COINS in 5 minutes 🐱
The cryptomarket is currently waiting on direction from BTC. From my previous analysis, we've concluded that BTC is currently trading in Elliot Wave 3-4 - meaning we're still waiting for the final impulse wave up 4-5. And when this happens, you better be ready with your positions.
More on why the ATH for BTC is not in yet :
Other altcoins I'm watching for x10 increases this year:
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GATEIO:DOGUSDT MEXC:BABYDOGEUSDT BINANCE:SHIBUSDT BINANCE:DOGEUSDT
US20Y short: scaling inUS 20Y yield had hit my previously projected target (idea on 3rd May). Now I expect a corrective wave up in A-B-C and then a wave 1 = wave 3 move down (minimally).
GBPJPY Strong Reversal & GBPUSD UpdateThe Japanese Yen(D) is going through the B to C leg of its correction, which we saw in the yen pairs in the last 24 hours. The GBP/JPY is our pick for a long trade because it has a more technical-bullish outlook than most other yen pairs.
More info in the video.
GBP/USD
The cable broke higher yesterday above 1.2634 , the limit for any downtrend continuation. The violation of this point invalidated the expected downtrend continuation trade.
We must wait for the price to conclude the current rally before we can act on a new position in the cable.
GBPCAD SELL FX:GBPCAD
This pair created multiple rejections at the highs before printing a top reversal. Those rejections on the 1 hr time frame formed a Micro level of resistance in the market. If this level holds we could see a test of the 78.6 level on the Fib.
If Momentum remains bullish on the higher time frames we could see a break of the highs. If that occurs I'll wait double top to be broken above, then look for the retest of that broken resistance level.
BTCUSD Short Term UpA few points mentioned in the video:
1. Completion of Wave 1 "Leading Diagonal" structure.
2. Fractals observations on Fibonacci levels.
3. Expects wave B down and Wave C up for an A-B-C corrective wave 2.
Not mentioned: Consider Wave 2 to end prematurely if low is breached.
Trend Continuation - CADJPY Wave STructure AnalysisHey Traders,
This is my take on the CADJPY Looking at the 1HR and the 15 Mins timeframes.
Momentum precedes prices! When there's an ongoing primary trend and a completed wave structure, wait for the price to be discounted/pullback.
This discounting in price gives us a piece of important information, we can deduce whether the price will continue the primary trend or the trend will change in the opposite direction. The only tool that gives us this information is the price by counting the wave structure.
As long as the primary trend structural point is intact, the trend is intact and we can trade safely in harmony with the market.
This is not theory, it is practical, but the application is psychological.
CADJPY SHORT KEY LEVELS
Stop Loss:114.88
Target 1: 112.18
Target 2: 110.59
Tencent (700.HK) Short: Completion of 5 waves structureTencent short based on:
1. Completion of 5 waves structure.
2. Fibonacci Extension level from wave 1.
3. RSI divergence.
4. 5-min corrective wave up.
+290 Pips on CAD/JPYThis is a quick update on the CAD/JPY. I mentioned this in the Weekly analysis I did yesterday.
Apologies for the sound.
Forex Weekly Planning Session 28 Apr, 2024Plan your trades and trade your plan. The weekly planning session is one of the most important things you can do as a trader.
In this session, I analysed the Currency Index basket of the USD, EUR, GBP, CAD, CHF, AUD, NZD, and JPY.
The strength lies with the USD, the rest are still in a confirmed downtrend.
SOLANA - $600 on the Cards?👀📉Hi Traders, Investors and Speculators of Charts📈
Solana has made some great increases, and it's retraced back to support levels. I've been bullish on Solana since the beginning of 2024, when SOL was still sub $100. Take a look here at other altcoins that we've been watching:
By looking at the Drop-and-Pop fractal we've been watching, we can conclude that for the short term, the support zones should hold at $140, with wicks as low as $120. When incorporating this into Elliot Wave Theory, our next impulse up (wave 4-5) should take us to roughly $290.
But it doesn't end there. When we zoom out, and view the chart from a macro perspective, we see a different structure of Elliot waves... We're possibly still in wave 0-1! And if we use the same Elliot wave ratios to calculate wave 5, (% of wave 1 OR 161.8 x wave 1 length) then wave 4-5 takes us even beyond $600.
It's important to note though, that this is a multi-month and potentially multi-year target. Although SOL has previously increased 500% in a few weeks, the markets are more mature than they were in early days with many more adopters and institutional investors joining the game.
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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CryptoCheck
COINBASE:SOLUSDT BINANCE:SOLUSDT
Market State Of Play - MTF Analysis on GBP/USD, USD/CAD, EUR/USDAs we enter the last 2 trading days of the trading week, I am looking at the GBP/USD pair which we have been trading for the past 3 days, we also have a very nice setup on the USD/CAD, EUR/USD and lastly the CAD/JPY.
QUICK GUIDES: Fibonacci SettingHere is a quick guide on how I have my FIB RETRACEMENT TOOL set up with Retracement & Extension levels.
GBP/USD Follow upA quick Follow-up on the GBP/USD Long Trade.
We have reversed the position at 1.2448 a test of the structure 2.
Technically, the trend is still down and a failure to trade above the structure 2 makes the GBP/USD still bearish.
The last Bullish wave 4 to 5 has given us a short setup using the Fibonacci. This is a high-probability setup for a strong reversal (short) or a downtrend continuation setup.
Initial Target 1.2347, If the price breaks below 1.2330, the downtrend will continue.
Stop Loss: 1.2473
Nifty and Bank Nifty analysis and trade plan for 24th AprilNifty and Bank Nifty analysis and trade plan for 24th April
Short Covering in GBP/USD - Trend Reversal The trend is your friend! I agree but the trend is also meant to be bought at the low and meant to be sold at the high.
We have used the Fibonacci to determine that buying is a high-probability trading decision this morning.
We have seen a pullback into the buy zone on the 15 Mins chart.
The area of Targets are:
1.] 1.2392
2.] 1.2468
Stop at the LOD: 1.2330
GBPUSD - Predicting The Next Level (Bear Cont. & Bull Counter)Technical analysis on the GBPUSD walking you through the process I use to make consistent predictions in the market.
In this case the predicted level opens up potential trading opportunities for both bearish continuation traders looking to get short and/or bullish counter trend traders looking to get long.
If you have any questions, comments or want to share you views on this pair, please leave them below & I promise to respond.
I wish you guys a great week of trading!
Akil
Nifty and Bank Nifty analysis and trade plan Tuesday. 23rd AprilNifty and Bank Nifty analysis and trade plan for tomorrow, Tuesday. 23rd April | #nifty #banknifty
AUDUSD BUY FX:AUDUSD
Preference:
AUDUSD has been trending downward for the majority of the week. After consolidating and breaking above, we set a buy limit order at the double bottom on the 30-minute time frame and waited for this structural level to be retested. Our trade is now active. If this level holds, we could see a retest of the highs before a continuation of the downtrend.
Alternative Scenario:
If this level fails to hold, it would be safe to wait for a few candles to close. After getting confirmation that the downtrend is still intact, we could wait on a retest before looking for a sell with this pair.
