Gtelli

Gtelli

Waiting for a pull back to test highs. Wave 1 looks like to be done and a wave 2 pullback could be in the works. Looking for a wave 2 exhaustion to indicate a wave 3 drop, causing a BOS and MSS on the daily time frame.

Gtelli

US30 pulling back to demand zone. Waiting for it to reach the demand and form reversal candles on the 4 hour time frame for a sell toward lows. I believe this will lead into the 3rd wave push down in a 5 wave completion to form the A wave of this correction.

Gtelli

A, B pull back. Waiting for a reversal with a bearish 3 candle formation for entry.

Gtelli

Wave B completion trade. Looking for a sell off in the London session as well as NY open.

Gtelli

Here's my take on what could lie ahead for the market in the coming months. While the following analysis is rooted in technical levels, my underlying theory revolves around inflation and the historical tendency of markets to retreat during recessions. In my view, the looming presence of inflation suggests an impending recession, particularly when considering the...

Gtelli

NASDAQ Wave 5 completion, going bearish until I see a healthy pullback.

Gtelli

Wave 4 in full swing, sellers looking exhausted but still expecting a small draw down. What you see is what I'm hoping to see for the 5th and final wave.

Gtelli

Double Bottom forming on Oil, looking like it will be running to higher soon before a downward reversal into Junes fed meeting like the rest of the market.

Gtelli

In terms of the current market analysis, the final phase of wave 5 in the Elliot Wave pattern appears to be on the horizon, with indications suggesting that this wave may culminate through a blue-off top run in the days ahead. As per the Elliot Wave theory, the market may subsequently undergo an A, B, C pattern down. It is important to exercise caution while...

Gtelli

Based on the current market analysis, it appears that we are approaching the final phase of wave 5 in the Elliot Wave pattern, with indications pointing towards the completion of this wave through a blue-off top run in the upcoming days. Following this development, the Elliot Wave theory suggests that we may observe an A, B, C pattern down in the market. It is...

Gtelli

Previously I posted a triangle bullish patten but gold broke down and canceled that pattern. Now it is looking a bit bearish and looks like it has formed a head and shoulders pattern.

Gtelli

Entered a long position at the orange circle, waiting to see if it breaks towards highs.

Gtelli

Looking pretty bullish! Would like to scale in this area, anything below the purple zone I'll be bearish.

Gtelli

In today's dynamic market environment, we have seen a notable increase in volatility due to various macroeconomic factors such as fluctuating interest rates and the recent struggles faced by SVB Bank. Despite these challenges, I have remained committed to utilizing a comprehensive analysis of market price action to inform my trading strategy. Based on my careful...

Gtelli

$USDJPY was on a strong uptrend channel until it recently broke below the channel. For most traders, this would be a bearish signal but I'm seeing this as a bullish indicator that could be a healthy pullback before a bullish reversal. I will be waiting to see if it holds the purple level of 133.78 before entering a long position. Will keep a tight stop loss as...

Gtelli

These are the fib levels I am watching for a reversal. Currently I believe that we are in wave 4 of a 5 wave uptrend and wave 4 is the most turbulent wave of them all. The holding and consolidation of these levels will be bullish as we go for the fifth and final wave before a corrective wave. If these levels brake then the wave is broken and we are bearish.

Gtelli Updated 

An update to $US30. As the markets swing back and forth to economic data the best thing to do is to reset target levels and wait for the dust to settle. For Now, I am seeing sellers pulling dow down to my purple zone and we could even see it touch the green level. The green level is where I could see buyers stepping in and pushing down higher even if it is for the...

Gtelli

With heavy economic news, I shifted my re-entry points lower to account for an exaggerated pull-down from the market based on previous reactions. This gives me a safer entry rather than leting my postions go red and averaging down with them.