CHAINLINK - Higher Timeframe Overview Here we have the 2weekly chart of Chainlink. We can see that on a higher timeframe, we are still bullish. We have not yet completed the 5 waves. We are currently on the 4th wave which appears to be a WXY correction (breakdown: 3 waves for W, 3 waves for X and 3 waves for Y) We are now in wave X. We need to see 3 clear waves...
2weekly chart of Ethereum We can see that we're currently in wave 3, subwave 4. Subwave 4 is looking like a WXY correction. Currently in wave X and expecting one more drop for wave Y. We're anticipating wave 4 to be finish above the blue structure, which is our wave 4 invalidation level. Trade Idea: - On lower timeframe, watch for an ABC completion for wave...
Bitcoin is moving according to our analysis. We identified that we were in an ABC correction and wave C has 5 waves. We have completed the 4th wave recently and now we're in the final 5th wave. We are expecting wave 5 to follow the impulse schematic of Elliott waves (5 wave impulse) but there's a chance we may make an ending diagonal so we should be cautious of...
In our last post on Gold, we identified that we were in wave 1 and suggested waiting on wave 2 before catching the big wave 3. We have now almost completed wave 2 but we can take advantage of one last SHORT before wave 2 completion. Trade idea: - Watch for price to break the red trendline for confirmation - enter with stops above the correction - Targets: 1800...
EURJPY recently completed an ending diagonal where we had a truncated 5th wave. Now that we have the top in place, we can look for shorting opportunities below "The Top". Please note that we could be making a complex ABC correction for wave 2. If we do, we'll have another chance to catch the move down from the place indicated on the chart. Trade idea: - Watch...
In our last NZDUSD post, we identified that we were in Wave 2 correction. We are now on the final leg of the correction but we can capitalise on this final short. Trade Idea: - Watch lower timeframe for reversal using trendline break, BOS, fib rejection etc. - enter with stops above the correction - Target the structure level indicated (200pips), taper positions...
SIlver has completed a MAJOR correction which took almost 2 years. We are in the next impulsive phase. We've seen wave 1 and now we are in wave 2, which we expect to be an ABC correction. We are currently seeing Wave A and expecting 2 more waves to complete Wave 2. SHORT Trade Idea: - Watch for wave B correction - Enter on break of Wave B correction - Count 5...
From our wave count, we are expecting wave 2 completion soon. We can see that we're in an ABC correction and on the final wave for wave C. In our last analysis, we were expecting a simple ABC correction where C completes at Wave A completion. As can be see, wave C is over extended. We will remain bearish unless we break above the grey structure. Trade Idea: -...
In our last NZDUSD, we identified that we almost completed Wave 1 impulse and we were awaiting the wave 2 ABC correction. We are now in the correction and we've seen both A and B. We are now in C and we can capitalise on this move before we go LONG. Trade Idea: - Watch for a break of the red trendline - Enter with stops above the highs - Target: 0.62...
Following on from our last post, Nasdaq broke down and started its collapse. We are now seeing a retracement but it's very likely that we'll see another bearish wave. We are approaching the 618 fibonacci and expecting a rejection here. Invalidation level for this bearish setup is the structure level indicated. Trade idea: - Watch for bearish rejection around the...
Bitcoin is forming a reversal pattern known as Ending Diagonal. Ending diagonals form in Wave 5 or in Wave C. This is one of the more reliable reversal pattern with easy confirmation. It is important to note that the 5th wave of the ending diagonal can sometimes fall short or even extend therefore it's important to wait for confirmation. Confirmation for this...
Bitcoin is ever so close to our LOAD UP Zone. Our last analysis required a few changes. Instead of a 5 wave move down for wave C, we are seeing a 3 wave move. We are currently in the final legs. Watching for one more move lower before we start loading up. In the meantime we can take advantage of short term SHORTS. - Watch for rejection of the channel - Once...
Following on from our lower timeframe post, this is the higher timeframe analysis. We have a really nice descending trendline that we can keep an eye on once we see the final low mentioned in our lower timeframe analysis. See lower timeframe analysis here: What do you guys think? Goodluck and as always, trade safe!
Similarly to Bitcoin, Ethereum is also creating an ending diagonal. As mentioned in our previous post on Bitcoin, the 5th wave of the ending diagonal can fall short or extend beyond the wedge. For ETH, ideally we extend beyond the wedge so that we can avoid having a truncated 5th wave. Trade Idea: - Watch for the completion of the 5th wave of the ending...
In our last CADJPY analysis, we mentioned that the top was in place for CADJPY and to watch for the completion of the 2nd wave ABC correction. We saw a deeper retracement than anticipated but we still remained below the high. Price went on to move lower 1000pips. As we're in wave 3, we were looking for 5 subwaves. We can see that we're currently in the 5th...
Nasdaq has almost finished its bearish correction. We're looking for a rejection of the fib levels and then a break of the red trendline for confirmation to sell. Trade Idea: - Watch for correction to complete at fib levels - risk entry on rejection of fib level - safe entry on break of red trendline - Targets: 10450, 9000 Goodluck and as always, trade safe!
NZDUSD is currently within a 5 wave impulse and we're in wave 5 now. We have NFP tomorrow which may reverse the market and with it, NZDUSD. Trade Idea: - On lower timeframe, watch for a sharp sell off - Confirmation on break of red trendline - Targets: 0.61 (320pips), 0.59 (500pips) Will review price action once we move lower to see if we'll move down to...
At the start of this year, we identified that Gold was in a 5 wave impulse and that we were currently in wave 4, which is an ABC correction. At the time, we only saw Waves A and B of that correction and anticipated Wave C lower. Price went on to create a massive move lower completing the 5 waves for wave C. The 5th wave for C was an ending diagonal, which...