this is wxy corrective wave.
wave w subdivided into abc ( wave c making 138% projection of wave a )
wave y subdivided into yellow abc than blue abc. blue sub wave a of y making white leading diagonal .
blue sub wave is making 138% projection of yellow sub wave
wave y making its 138% projection near the weekly resistance
subwave of w and y made 138%...
GBPUSD is rising inside a parallel channel .
boundary of this channel has been tasted many timebefore but again it is being tested as resistance.
support 1.34825 the previous high is our first major profit target for seller
you can sell with your sl above recent high and tp at the support
there is possibility it founds support again at channel make new higher high.
eurusd has started making lower low lower high.
the current trend is trading right at 50% retracement of previous wave ( making double top there)
resistance 1.21510 has been tested many time before as support now its time to prove again as resistance.
if this resistance holds than it will make new lower low below 1.19524
current trend is part of big trend...
current bull market of bitcoin has reached its 5th wave .
is this end of bull market or bubble mania
based on Elliott wave analysis after 5th wave comes bearish reversal .
support 28989 is low of 4th wave which is our first support
wave x subdivided into abc has made possible chart pattern in wave x with wave Y projection at 1892
(breakout of chart pattern will confirm current wave setup, up side breakout is necessary for it)
dollar reversal and us inflation is highly positive for gold
gold being ultimate inflation hedge.
(breakout of this resistance will confirm bullish...
yellow trend line has breakout.
it can retest the trend line before further upside movement. after months of lower low and breakout it is ready to make higher high.
key resistance 61% retracement is at 108.214. it could continue its down trend from there or it is just beginning of king dollar
(all the fib retracement are almost near the horizontal resistance level )
Gold has continued its bearish trend inside a yellow parallel channel with triangle breakout near the 50% retracement of previous wave.
major resistance for seller are 1802 and 1764 with final target 1732
breakout of 1802 will generate panic among gold investor.
you can rejoin the trend at boundary of yellow parallel channel and horizontal levels.
Buy low Sell...
audusd made wxy correction with wave x making abcde chart pattern
wave y made less than 138% projection ended at previous support.
How to trade
sell at third retest by wave E of the triangle testing trend line with your first TP at 100% projection of wave X.
abc wave with c making 100% projection with divergence on RSI and stochastic indicator macd signal line just crossed while low momentum on histogram
this bullish trend was breakout old trend line on daily chart which will retest that trend line buyers will buy pullback or it can be fake breakout or retracement to long bearish trend . if it was retracement to long...
correction has made rising wedge pattern on h4 chart.
if it breaks upside than it can retrace upto 61% or 50% at 1880.
downside break depends on how it react to 1830 if 1801 got broken it can goes up 1764.
abc corrective wave with c wave extension at multiple level
in above chart we have primary ABC wave with wave C subdivided into (A)(B)(C) again wave (C) further subdivided into abc. last wave c,(c) has made 100% projection. At the time of writing correction to entire abc wave structure has made 50% correction. the fibonnaci retracement of entire ABC wave pattern...
wxy correction with double bottom in wave x. Wave y with Q4 GDP intraday bulls on 138% to 168% projection.
this is perfect example of technical and fundamental comparison
WXY corrective wave and Q4 GDP data
index has finished its 5 waves which were part of pervious extended trend.
this bull market has not made big correction which is necessary for further price movement.
--- monthly correction has come ?------
---has new bear market started ? -----
green horizontal line is major support to decide if it is bearish trend or correction of bull market
this intraday rally is rising inside yellow channel
wave y further divided into abc is ready to make 50% retracement at 1853 near yellow trend line. Buyers will target 1880 and 1899 which are fib retracement of upside to down.
You can re enter the trend as long as price trading inside yellow channel.
seller are waiting for red...