Hi there, This was a very unclear price movement. A lot of pressure is in the (B) high, which is 107.08, but as long as the current price doesn't breach the 116.62 area, we should expect to see an overall bearish sentiment. We have waves within waves leading to Zone 1 and Zone 2, with two potential directional biases. But for now, the direction favors bears as...
Hi there, GN looks bearish but is over a low support zone denoted as (A). At this level, the price is currently neutral. The price could go up to form a (B) high, but there is no way for me to know where that B-high might be, but on schematics, it will potentially be near the 2.06. The significant area is 2.04073; there needs to be a lower high that breaks (A),...
Hello there! The price has fluctuated from (B) to (C), and has now returned to the initial lows of (A) with the possibility of rising back up to the (B) level. With the price now back at the initial low (A), the price movement remains neutral until it breaks above 52903.28. We should consider waiting for either a clear break below (C) or preferably below...
Hi there, The three candles in the 3-hourly time frame are weak in bullish volume, so a drop is anticipated to go near the 0.5497 zone. We might see a pullback in that zone, or the price might even drop further, but the reason for the pullback will be due to bullish momentum in a higher time frame. So there needs to be a higher low above the 0.5 Fibonacci or the...
Hi There, The price action over BTC H1 is a bit unclear. The current candle is bullish below a bearish trendline headed towards a bearish zone marked (Y). And if the price manages to reach above (Y) and break the 52773 area, then bears would have lost more weight. For now, the support level 51326, which makes the low of (A), needs to break for a bearish...
Hi there, The engulfing candle happens when the break-out low of the ABC pattern yields strong continuation momentum in a directional trend. There are minor and major engulfments, but the meaningful ones are the major ones. An engulf is at the sharp turning points or reversal areas of a trend and should complete the sequence of an Elliot wave and a Wolfe wave at...
Hi there, GJ appears to be in the downtrend from the high and resistance of 190.131, headed toward the 188.486 level to the 188 area range. If the price continues bearish in this area range, then there'll be a chance for the price to further drop to the 187 trend line for a bias of 184.154. If the price turns and breaks the 190.131 resistance then the setup...
Hi there, The price is neutral over the 268.71 low. A break of this low might encourage more bears, but the price can reverse to test the 280 area. 293.79 and 283.23 highs maintain the bearish momentum in this time frame, and as long as 283.23 is still active over the current price, the overall trend is bearish here. Happy Trading and have a great weekend K.
Hi there GBPNZD appears bearish at the H1 time frame, aiming for the 2.05487 area for a bias of 2.04275. The price came down from the 2.085 to 2.05154 low and then rose to a lower high in the 2.0800 range, making the current price movement a continuation of the bearish momentum from that high area range. Also, the price is below a minor supply zone, so there...
Hi there, ADAUSDT has a potential head and shoulders pattern forming, with the price possibly dropping to 0.5056-0.5030 or even lower for a bullish higher low to form the right shoulder. The key takeaway is that the right shoulder must be established for confirmation of the pattern. However, I am feeling impatient as the price is currently bearish towards the...
Hi there, USDCAD looks bearish at the M30 for a potential price target of 1.34213 with a bias of 1.33817 The price is pressed down by the 1.34800 area, and as long the price maintains below that area the bears have control. If the bulls manage to push and break the 1.3500 area then the setup will be invalid. We need to see a continuation of a lh to the current...
Hi there, EURUSD appears bullish at the M30 up towards 1.08216 for a bias of 1.08472 due to strong demand over the 1.07400 - 1.07200 areas. Monitoring will be required as the price pushes against a bearish price movement. Happy Trading, K.
Hi there, BTCUSD is in a downtrend from the 33K high and has remained below significant resistance at 42610. There needs to be a break of the low at 41847 for a bearish continuation. The engulfing candle at 40021 is the first target for a potential bias of 38000 due to a possible bearish pull in the 41500-4100 area. Happy Trading, K.
TSLA looks bullish at H1. The price has the potential to find meaningful resistance at the 260 area only to recover back up to the 280–290 area. Strategy: SND & Wolfe Wave K.
Hi there, BTCUSD is ranging between the 43103 high and the 41705 in the 3-hourly time frame. The candlesticks lack volatility in either direction, leading to uncertainty and potential guesswork within the range. It is the bearish candle that formed a low at 41509 to the lower high of 43785 that makes the price movement neutral, and what we hope to see is a...
Hi there, The price formed a high of 47642.22 after breaking out at 26549.29. As of right now, the price looks to be in a bearish retracement, with a potential target price of 37370.20 for its ABC bearish sequence. A proactive approach to trading that involves thorough assessment and evaluation of key factors such as price formation and volume-valued zones. Here...
Hi there, There's an ABC pattern forming in the USDZAR H1 time frame. AB appears to be a correction in a bullish trend that continues in higher time frames when viewed over a stochastic indicator. Therefore, BC is expected to continue the bullish XA wave, reaching an approximate price area of 19.31196, with 19.08984 as the first price target when applying a...
Hi there, There is a bearish trendline break and retest at the H1 EURGBP pair, and bearish pressure is high at the 0.86324 area. The setup will be valid as long as the price remains below 0.86535 for the major break of that low. The closest target is 0.85964, for a bias of 0.85670. Happy Trading K.