The correction on the daily chart has played out in line with my primary wave count.
Even though I believe we are on the final stages of this correction, the lack of RSI divergence and sideways price action still points to another leg down before any significant upside.
Gold current shown wedge /flag pattern but checking from its "Z-factor" it's a leading diagonal ( wave 1 ) pattern not wedge pattern as majority perceive.
FX:CADCHF is preparing for the continuation of the uptrend. The price within the ascending price channel is forming a consolidation against the resistance 0.68220. What to expect from the price?
The chart clearly shows a bullish trend. The market is interested in the resistance at 0.68220, which the sellers are defending so strongly. If the price breaks...
FX:GBPAUD is showing a chic dynamic based on the reversal pattern. At the moment the price is in a range and most likely the market will have to form a consolidation before breaking through the flat resistance.
Earlier the price acquires strong support from the 200-hour moving average. A strong consolidation forms a bullish position, after which we saw a...
BTCUSDT is trading in a ZIG-ZAG channeling formation, in which the actual price action is about to reverse from a micro A-B-C-D-E triangle to fill this parallel channel with the final bearish impulse wave.
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
As we can see, the uptrend is broken! The pitchfork on the daily chart was the last hope for the bulls, and it has been destroyed by the bears. What's more, the price of Bitcoin from 31k to the current price has a 5-wave structure (impulsive) instead of a 3-wave structure (corrective).
The chance of going to 15k has increased dramatically at this point, and I...
Cardano (ADA) is currently in a WXY (double zig-zag) in primary 2 which looks to take the price down to dangerous lows. The WXY is comprised of a zig-zag, expanded flat, and a zig-zag. The 1.618 extension of W gives us a price target of 0.02036 while the trend-based fibonnaci extension of AB in Y gives us price targets of 61.8 at 0.68USD 100.00 at 0.33USD, and...
NASDAQ:AAPL could be in a fractal pattern here. The previous two moves down saw a deep retrace to 0.886 before reversing lower. Both moves broke through the established trend lines as fake outs before reversing back to the downside. This current move up looks very similar in structure to those prior two. However, that still leaves about HKEX:7 -8 of upside...
Hey everyone, I wanted to give you all a technical update on the S&P 500 (SPX) as it's been moving sideways for a few weeks now, and it seems like it's not done yet. With a lot of options expiring today, we might see some volatility soon, but let's consider what the majority is currently thinking.
According to the American Association of Individual Investors...
Wave projection with price action and chart pattern analysis
Ape price recently breakout MA20 and squeezed under MA200 - MA20 about to golden cross MA200
If breakout MA200 successfully, a possible ABC pattern uptrend about to into an explosive leading diagonal wave 5 targeting 1 - 1.618 extension of wave 3
When a deep consolidation in wave 4 happening almost at...
Price action and chart pattern trading
> Wave projection - Leading diagonal pattern with a possible 5-wave uptrend
> Entry @ pullback and breakout downtrend line wave 2 and wave 4 near lower support of uptrend wave channel.
> Target @ previous primary wave 3 | 0.786 - 1.0 zone +30% upside
> Stoploss @ upcoming wave 3 and upcoming wave 5 zone -10% downside
> Risk...
In the world of technical analysis, patterns play a crucial role in forecasting the future movements of a financial instrument. One such pattern is the leading diagonal, which can signify the start of a more extensive zig zag formation. In this article, I will delve into the recent price movements of the S&P 500 Index (SPX) and how a leading diagonal pattern has...
As the trading week comes to a close, market participants have witnessed a slow yet steady rise in SPX futures. I'm going to dive into the advantages of trading futures, analyze the recent price action in ES futures and the SPX index, and discuss the leading diagonal pattern that played out in the market. I will also provide insights into what to expect for the...
The financial markets are a complex ecosystem where a multitude of factors influence the movement of securities. One of the key aspects of understanding market dynamics is recognizing patterns and monitoring key levels that can indicate possible future trends. In this article, I will discuss the leading diagonal pattern, its importance in technical analysis, and...
At this moment I have an ABC scenario that may also be an impulse with wave 3 instead of C.
Wave A or 1 finished at 2.618 fib extension wave 1 (of wave A or 1) vs wave 2 (of wave B or 2), wave B or 2 that may be an extended flat pattern finished at 0.5 fib retracement of wave A or 1.
Now probably we have finished also wave 1 from wave C or 3 ( a leading diagonal...
This is an Update to my previous SPY idea - same target/time to target, just more simplified. After the last 2 weeks there is a lot of bearish sentiment but its really just finding support at wave 4 of a leading diagonal.
The initial target is 408 in the next week or 2, and then goal target is 425-432 by late March-Early April.
The symmetry in the waves...
Price action and chart pattern trading
> An overall global leading diagonal pattern with a possible A -wave uptrend with minor triangle 4-wave
> Target minor 5-wave of local A wave at 0.5 - 0.618 retracement global 4 wave +8-10%
> Stoploss @ lower triangle support - 3 - 4%
> RRR: 2.5:1
Always trade with affordable risk and respect your stoploss, nothing is 100%!
