After reanalyzing the S&P 500, I've made significant adjustments as the previous scenario didn't quite align. According to my current assessment, the upcoming weeks and months might unfold as follows: I still believe that a Wave 5 emerged in January 2022. Subsequently, we experienced a Double Zigzag descent to the $3500 level, where Wave A formed with another...
Hello everyone, I invite you to check the current situation on BTC in the USDT pair, taking into account the one-day interval. First, we will use blue lines to mark the local upward trend channel in which the BTC price moves at the upper limit of the channel. Then, using the yellow lines, it is worth defining the local channel, the exit from which can result in an...
🏃♂️Gold has been moving in an Ascending channel for several weeks . 🏃♂️Gold is currently near 🔴 Heavy Resistance zone($2,075.20.40_$2,035.20)🔴 and 🟡 Price Reversal Zone(PRZ) 🟡. 🌊According to Elliott's wave theory , Gold seems to be completing the main wave 3 . 🔔I expect the main wave 3 in 🟡 Price Reversal Zone(PRZ) 🟡to end and Gold to start falling...
The $NQ_F traded around key resistance during the Thanksgiving shortened week. NQ is locked near the Mid-time frame 886 Fib just below the July 19th high. Market has gained 10% + after making a V-bottom on Oct 26/27th. Makes sense for price to trade sideways to down for a bit. Santa rally effect still in play going into the new year but tax loss selling season is...
Today I gave you a trading idea in the channel, shorting gold with short-term resistance of 2045 and strong resistance of 2050. I shorted gold near 2042, 2045 and 2049 respectively, and set the TP to 2037. Gold fell back after hitting near 2050, reaching its lowest level near 2034. Obviously, my expected profit target of 2037 was perfectly hit in the short gold...
Got a couple HTF positions running nicely but lets finish up the week on the LTF AUDUSD charts. looking at a possible top and targeting new lows as target 1
CHFJPY has just confirmed the trendline on H1, it has also pulled back to the 0.618 fib and is bouncing of an area of support. I am going long here, stoploss under the 0.786 fib and a RR of 1:2
Price had back to the previous Asia Low, it's struggle to break it. Currently price creating Higher Low & Lower Low situation. I am expecting down trend continuation.
KASPA uptrend seems to be holding, though a breakdown to 9.2 cent level is still possible. Using the power of wild speculation, the 1.618 fib extension of recent moves and apparent pennant breakout both seem to imply a possible future key level in the 24-25 cent zone.
It appears to me that the HTF are in play however, its time to let the market play out. I have a general bias but we need new levels or something to break on the LTF charts for more continuation
💡Bitcoin tried many times to break the 🟡 Price Reversal Zone(PRZ) 🟡 but failed every time. 🌊In terms of Elliott wave theory , Bitcoin seems to have found microwave 5 of the main wave C at the 🟡Price Reversal Zone(PRZ)🟡 and the upper line of the Rising Wedge Pattern . 💡One of the confirmation signs of our wave counting can be the presence of Regular...
🏃♂️Bitcoin re-entered the 🟡 Price Reversal Zone(PRZ) 🟡 and is currently moving in this zone. 📈If we look at the chart from the view of Classical Analysis , it seems that Bitcoin has succeeded in forming a Rising Wedge Pattern . 🌊In terms of Elliott wave theory , Bitcoin seems to be completing wave C of the corrective Zigzag(ABC/5-3-5) structure. 💡Also,...
My update on $STNE. Still long and this is just showing my progress
US Oil looks like it could be trying to hold support with a Bullish Head and Shoulders around the 61.8% Fibonacci Retrace; If it is successful I think it could make its way towards $85.50
Looking to Long Gold from the 2006 region. SL will be wide at around 100 pips, I will be targeting the 2060 zone with a latent target of 2100. Confluences: 38% Fibonacci Weekly key level break retest December Seasonal Bull Run Catch you later traders ▲
In this analysis, I talk about how I used Elliott Waves to count the moves of Hang Seng Index from Jan 2018 to 24th Nov 2023. The main points to take note are these: 1. The corrective move down in 2023 is over. 2. We are still in a minor corrective move down. 3. But a wave 3 up is round the corner and that it will be an explosive one. 4. The risk is low for this...
FX:GBPJPY is forming a set-up within the ascending channel, which predicts the continuation of the trend, but for this the price needs to overcome the resistance at 188.28. On D1 we can see that fundamentally and technically the national currency of Great Britain looks much stronger than the Japanese currency, although Tokyo has been trying hard to strengthen...