KironKavanagh

KironKavanagh

Major Wave Structure 1. Primary Waves • W-X-Y-XX-Z: The chart begins with a complex corrective structure indicating a prolonged corrective phase. • 1-2-3-4-5: Following the complex correction, an impulsive wave structure is apparent, suggesting the beginning of a new trend. 2. Subwaves • Each primary wave consists of smaller-degree waves, identified using...

KironKavanagh

Major Wave Structure 1. Primary Waves • W-X-Y-XX-Z: The chart begins with a complex corrective structure, which is common in Elliott Wave Theory to describe prolonged corrective phases. • 1-2-3-4-5: Following the complex correction, an impulsive wave structure is apparent. 2. Subwaves • Each primary wave consists of smaller-degree waves, identified using...

KironKavanagh

I usually use separate chart software for much of my technical analysis, so this prediction is based on alternative software in addition to tradingview Major Wave Structure 1. Primary Waves • W-X-Y-XX-Z: The chart indicates a complex corrective pattern, often referred to as a double or triple three. • 1-2-3-4-5: Following the complex correction, the chart...

KironKavanagh

Chart Analysis H1 Chart: • Elliot Wave: • The chart indicates the formation of waves within the Elliot Wave structure. We see the completion of waves (i) and (ii) with an ongoing development of wave iii. • Wave (ii) correction appears to have completed, implying the start of wave iii downwards. • Potential target for wave iii could be the 50% Fibonacci level...

KironKavanagh

Elliott Wave Analysis H1 Chart: • Current Wave Count: The chart shows that the pair is in wave (ii) of a larger degree downtrend. • Wave Structure: After completing wave (i), an a-b-c corrective structure forms wave (ii). This indicates that the pair may be preparing for the next impulse wave (iii) downwards. H4 Chart: • Current Wave Count: The chart...

KironKavanagh

Elliott Wave Analysis 1. Daily Chart • The daily chart shows the USDJPY pair in a corrective phase within the larger uptrend. • Wave 3 appears to be completed, with a sharp decline indicating the beginning of wave 4. • The target for wave 4 correction is around the support level at 151.852. This level is crucial as it coincides with the 38.2% Fibonacci...

KironKavanagh

Daily Chart Analysis The daily chart suggests that the GBPUSD is currently in the third wave (III) of a larger degree impulse wave. The prior wave structure includes: • Wave 1: An initial upward move. • Wave 2: A corrective wave that retraced part of the first wave. • Wave 3: The current wave in progress, which is typically the strongest and longest wave in...

KironKavanagh

Overview: The EUR/USD is analyzed using Elliott Wave Theory, which is a form of technical analysis used to forecast market trends by identifying the waves of market sentiment. This analysis spans multiple timeframes (H1, H4, Daily), providing a detailed perspective on the potential future movements of the pair. H1 (Hourly) Analysis: • Current Wave Pattern: The...

KironKavanagh

Comprehensive Analysis of Gold (XAU/USD) Focusing on Elliott Wave Daily Chart Analysis 1. Wave Structure: The daily chart indicates that the fifth wave of a larger degree (5) is in development, with wave 3 of (5) forming as part of it. 2. Correction and Impulse Waves: The chart shows the completion of a fourth wave correction (iv) within wave 3 of (5),...

KironKavanagh

Profit-Taking: After gold reached near-record highs earlier in the year, many investors started selling to lock in profits. This is a common reaction after significant rallies, contributing to downward pressure on prices . Strengthening U.S. Dollar: The U.S. dollar has been strengthening, which typically leads to a decline in gold prices as it becomes more...

KironKavanagh

Weekly Time Frame Analysis 1. Market Structure: • The Dow Jones Industrial Average (US30) is in an overall uptrend, making higher highs and higher lows. • The recent price action shows a strong bullish momentum with the price approaching a significant resistance area. 2. Key Levels: • Resistance: 41,500 (recent highs), 42,000 (psychological...

KironKavanagh

Weekly Time Frame Analysis 1. Market Structure: • The Dow Jones Industrial Average (US30) is in an overall uptrend, making higher highs and higher lows. • The recent price action shows a strong bullish momentum with the price approaching a significant resistance area. 2. Key Levels: • Resistance: 41,500 (recent highs), 42,000 (psychological...

KironKavanagh

Let’s perform a top-down analysis on Gold (XAU/USD) using the provided charts across multiple timeframes. We will start with the higher timeframes and move down to the lower ones to identify the overall trend, key levels of support and resistance, and any notable patterns or setups. Daily Timeframe Analysis 1. Trend Identification: • The daily chart shows an...

KironKavanagh

Yesterday scenario worked out perfectly. Gold retested the 2450 level and bounced straight of and resumed its bullish direction. Gold continued to decline to lean on 2450.00$ level and began to rebound bullishly from there, to head towards resuming the main bullish trend, motivated by stochastic positivity that appears clearly on the four hours’ time frame,...

KironKavanagh

Oil prices fell over 1% on Tuesday as traders reacted to disappointing economic growth data from China. West Texas Intermediate (WTI) hovered around $80 per barrel, while Brent crude traded slightly above $83 per barrel. Dennis Kissler, senior vice president at BOK Financial, noted that “weaker economic data continues to flow from China, with government support...

KironKavanagh

Gold prices are consolidating after a three-day rally, reaching a new record high above $2,480 in Asian trading on Wednesday. Buyers are pausing before potentially resuming the upward trend. The anticipation of a US Federal Reserve interest rate cut in September supports this bullish momentum, as a rate cut is now considered inevitable. The market is fully pricing...

KironKavanagh

Gold is moving in a tight range, and I see nothing changing within the next couple of days. Which is why I’ll be taking short positions around resistance and scalping 50-80 pips

KironKavanagh

Sell Zone is marked We have seen multiple rejections around the 2335 level?