Hello traders! Today we will talk about cryptocurrencies, specifically NEO and its price action from Elliott Wave perspective. NEOUSD made an impulsive five-wave cycle from March lows, which suggests a bullish reversal at least in three waves A/1 - B/2 - C/3. Since the beginning of June, seems like NEO is making a three-wave a-b-c correction, where wave "c" is...
Hello traders! Today we will talk about Silver and its price action from Elliott Wave perspective. Metals are in an impulsive rally, especially Gold, but since March, Silver is doing much better if we take a look at the GOLD/SILVER ratio, which is now turning bearish and there's actually room for more weakness after recent corrective slow down. So, it means that...
Hello traders and investors! Today we will talk about Bitcoin Dominance and its wave structure from Elliott Wave perspective. We will also show you how it can be useful in analyzing XXX/BTC cross pairs with the help of EW. If we take a look on BTC.D daily chart, we can see a sideways consolidation for almost a year which usually suggests a corrective movement,...
Hello traders, USDJPY started recovering from the 101.18 level, giving us first evidence of a completed higher degree wave C), and that a new, three-wave A-B-C rise for a leg D) is in play. At the moment we see price ending a wave B of D) at 106.09 level, meaning price can be turning higher for a leg C with five waves. That said, a rally in five legs of a lesser...
Hello traders! Today we will talk about stocks, specifically SPY (S&P500 ETF) and its price action from Elliott Wave perspective. At the beginning of June SPY turned sharply and impulsively down, clearly with five waves, which in EW theory actually indicates a bearish reversal at least in three waves A-B-C. Currently we can see it finishing a corrective wave B,...
Good morning traders, Markets are slow because of holiday in the US, so we may not see any big changes in flows through the day. However, we should pay attention to BREXIT especially after latest Merkel comments, that they are preparing on every level for a no-deal Brexit. This cannot be positive for the euro or gbp, so be aware for a potential weakness on these...
Hello traders! Today we will talk about XMRBTC and its price action from Elliott Wave perspective. XMRBTC is sideways since 2019 and it's ideally forming a big bearish triangle pattern in wave "iv", which means that we should see even more weakness and sooner or later we may see new 2020 lows that can send the price down to 0.0060 - 0.0050 area, if not even...
10 year US notes are progressing higher, but slowly above the triangle line, but still you have to be careful with stocks as fifth wave on 10 year can see much highers which can cause risk-off. Also, not sure how much interest is there in stocks at current prices, but I am sure that region around 2700/2800 is a lot more attractive. Take care, Grega
Hello traders, USDCAD started rallying from the 1.3318 low, indicating that wave C) of a higher degree is completed, and that a minimum three-wave turn is underway. We labelled a completed leg A/1 and B/2 as part of a reversal, so current rally from 1.348 swing low can be part of wave C or 3. In case of wave C price can target area at Fib. ratio of 100.0 (1.385...
COCOA is sideways for the last 10 years and seems like it will stay like that. Hello traders! Today we will talk about Cocoa and its price action from Elliott Wave perspective. Well, looking at the longer-term weekly chart, we can see Cocoa moving sideways for the last 10 years in the 3700 – 1700 range, ideally within a bigger bearish triangle pattern in wave...
Hello traders, NANO is in a five-wave rise, up from March suggesting that bigger trend is bullish, and that further upside may be seen once a bigger a-b-c correction develops. Currently we see price unfolding a higher degree wave v, which can look for resistance and slow down into a three-wave correction at the Fib. ratio of 0.618 and at the upper Elliott wave...
Hello traders! Today we will talk about US Dollar - $DXY - USD Index. DXY was in a big sideways consolidation since March, ideally within a bearish triangle in wave B. Currently, we can see it finally breaking into new lows for wave C that can stop in the 97.50 - 96.50 support zone around important 61,8% - 78,6% Fibonacci retracement and from where we may see a...
Hello traders, After a five-wave recovery within a higher degree wave (A), up from April lows, we can see that energy started declining from the highs; we see a break below the lower Elliott wave channel line, which suggests a temporary top in place, and a minimum three-wave retracement into a higher degree wave (B). Support for (B) is at the 32.5/26.0 zone.
I think btcusd can continue much higher, but before that a deeper pullback is something we have to be aware of. Check our video below. And Please share, like and comment and support our work. Thank you. GH
Hello traders, on AUDUSD we are observing a bullish move, in five-waves, up from March lows. Specifically we see price in a fifth wave higher ((5)), which can be approaching possible resistance at the 0.710 level. That said, at the moment we still see price in a wave four (4) correction, which can look for support, and a bounce at the 0.685/0.677 zone. A rally in...
GBPJPY is moving higher for the last two trading days and is currently breaking the channel resistance line of a second zigzag which can be an important evidence for more upside in days to come. Keep in mind that drop from April high was in seven swings, which is a corrective subdivision so gains are expected while the recent swing low holds. However, nothing...
Hello traders! We want to update GBPJPY chart, which is moving nicely higher as expected and there's more upside potential at least towards 141 level for wave "c", if not even higher as part of wave "iii". Anyway, we are always looking for minimum expectations and seems like GBPJPY can see at least one more leg up to complete a five-wave cycle within wave "c" or...
Hello traders! Today we will talk about GBTC - Grayscale Bitcoin Investment Trust from Elliott Wave perspective, which is telling us where Crypto investors are hiding. As you can see, in the recent rise, GBTC came to the upper triangle line in three waves A-B-C only, so recovery looks corrective, ideally for wave (d), especially if we consider a triangle in wave...