Fibonacci
AUDUSD Short. 4 confirmations confirmedAUDUSD Short- decided upon four confirmations. These are the four confirmation that are required in order for us to enter the market in this set up
The Winning Playbook
1st Confirmation: Retest at one of the designated fib levels. The fib levels need to be measured from the H4, H8 or Daily timeframe
2nd Confirmation: Retest at a zone of Supply and Demand. The Supply and Demand zone needs to be formed from the H4, H8 or Daily timeframe.
3rd Confirmation: Confirmed engulfing pattern in the direction of the trade starting at the H1.
4th Confirmation: Break of support or resistance in the lower timeframes starting with the 3 minute in the direction of the trade.
S&P 500 Short: Potential Ultimate Peak on 23rd May 2024Previous analysis on 20th March 2024 (linked) would have worked but with more downside than expected (~50 points).
Currently, we have a potential ultimate peak in S&P500 on 23rd May 2024.
Take note that this idea will be invalidated with a new high and that could mean much higher prices for S&P. However, as traders, we are concerned with risk-reward and not with being right.
Good Luck!
AUDUSD Long. 4 confirmations confirmed.AUDUSD Long - decided upon four confirmations. These are the four confirmation that are required in order for us to enter the market in this set up
The Winning Playbook
1st Confirmation: Retest at one of the designated fib levels. The fib levels need to be measured from the H4, H8 or Daily timeframe
2nd Confirmation: Retest at a zone of Supply and Demand. The Supply and Demand zone needs to be formed from the H4, H8 or Daily timeframe.
3rd Confirmation: Confirmed engulfing pattern in the direction of the trade starting at the H1.
4th Confirmation: Break of support or resistance in the lower timeframes starting with the 3 minute in the direction of the trade.
USD/CAD Trend reset - Buy ContinuationMomentum preceeds prices!
The USDCAD has had a trend reset (Secondary Trend), which is key to the Up-trend continuation.
The structural point for trend reversal is 1.3656, we want to see a second breakdown below the structure without breaking below 1.3624. A trade back above 1.3656 will be the first buy, confirmation will be a trade above 1.3671.
In terms of Target, we will use the Fibonacci retracement from the low to the high of 3.
Target 1: 1.3780
Target 2: 1.3838
Initial Stop Loss: 1.3624
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
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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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.
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
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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