Today I think Nasdaq finally finished its ascend and is about to correct. I opened the NAS100 chart (normally, I use NAS100USD) and discovered that my previous count made one year ago still stands! Here is what I drew in Aug 2020. In the next post, I will update it on a lower timeframe.
My attempt to synchonise this chart to Silver. Whether I should do it in the first place is a big question though. Still, looks like Silver with its more clear structures is giving heads up about what is coming in Gold.
Silver is consolidating in a triangle. I see it as a move down hence I have to assume a leading diagonal in the making. Too far out, I agree. Nothing is certain at this point except the pretty good shape of the triangle.
Disregard my yesterday count. Today I am more pessimistic about BTCUSD. Having looked at the bigger picture (coming next), I think there is more room for the downside. Observing all the cryptopositivity in the news supports the contrarian case.
Difficult one. I think USDJPY is long, and metals are bear. So I naturally biased that EURUSD is bearish and DXY is bullish.
However, I usually spot expanding diagonal at the end of a move (5th or C waves). And what I charted as ending diagonal C can be said to consist of impulses, not zigzags.
As always market leaves a lot of doubts. One thing is certain - as...