Key levels: 0.6520
Price is forming a corrective descending channel for 13 months.
Currently, the price is facing resistance at the upper band of the parallel channel.
As per Elliott wave projection, NZDCHF is forming corrective structures (W), (X) & (Y) . Price has completed the intermediate wave (x) and started falling for the final wave (Y).
AUDJPY is forming a contracting triangle.
Price had completed the (D) wave, and I have given the short-term selling targets of wave (E) of wave ((4)).
In my previous article, I have mentioned that "Wave (E) can complete between 0.618 to 0.786% Fibonacci levels.
That's why a trader can expect the following targets for wave (E) 83.44-82.50-81.03 as targets...
MSFT has accomplished the corrective wave (b) and started falling for wave (c) of wave (4).
Traders can expect the following targets: 289 - 272 - 265 for wave (c).
Here, 273 is the Fibonacci level of 50% of the wave. This level will act as a crucial level.
An uptrend is only possible after the breakout of the parallel channel . As per the wave principle,...
Tesla has broken down the corrective channel, and the price surged rapidly.
Currently, 3rd has reached 161.8% of wave 1. After completion of wave 3, the price will start its corrective wave 4.
Traders can initiate long positions after the accomplishment of wave 4 for the targets of 1056 - 1113 - 1210+.
BTCUSD is about to accomplish the sub-wave C of the corrective wave ((4)).
Wave ((4)) is forming a running flat pattern, where wave B has exceeded the origin point of wave A.
But due to lack of bear power, wave C is too weak to break the ending point of wave A.
It Indicates bulls are strong at the movement.
But, the price can still break wave A to complete...
Bitcoin prices were moving upward at the beginning of 2021. But, its investors have seen heavy downfall into May to June. Afterward, it has hiked from 28600 to above 51356 .
According to Elliott's wave theory, it's running under the 4th wave. We may see a sideways trend here. Bitcoin is preparing for a solid uptrend ahead. It's a right to jump on Bitcoin for...
I have uploaded the EURUSD Elliott projection on 4th January 2022.
The price had started creating the last leg, and I had mentioned two scenarios.
Click Here to read the Previous article:
Article 1 : EURCAD: Sentiments are short-term bearish, but
Result - Price...
EURCAD is forming a downtrend channel.
Price is forming a final sub-wave 5 of wave (5).
In my previous idea, I have mentioned that, If the price breaks down channel C, the following targets for Wave 5 will be 1.4313 - 1.42520 - 1.41652- 1.41156.
Price reached all the targets of wave (5).
Click Here to check the previous idea:...
Currently, AUDJPY is forming a contracting triangle on the corrective wave ((4)). Price has completed sub-wave (C), and sub-wave (D) is in progress.
After completion of the (D) wave, the terminating wave sub-wave (E) will break the B-D trendline of the contracting triangle.
Wave (D) can end nearby 78.6% retracement of wave (B).
If the price breaks the B-D...
EURCAD has completed corrective wave 4, and if the price breaks the parallel channel C, it may make a new low, which should be impulsive sub-wave 5 of wave (5).
If price breaks down channel C, the following targets for Wave 5 will be 1.4313 - 1.42520 - 1.41652- 1.41156 .
After making wave (5), if the price breaks the B channel, it can go for 1.4645 and start...
Price has completed the C leg of corrective wave Primary ((4)), and the price will march for impulsive wave ((5)).
- Leading diagonal
- Formed on extreme low
- Termination sub-wave 5 is smaller than 3
- 50% of wave ((1))
- Ended near the sub-wave 4 of an impulsive wave.
- Impulse (Five wave...
Key levels: 47948 - 49290
Gold is rejecting uptrend and downtrend at the level of 47948 . And we don't see a powerful movement in the 2021 year, wherein it throwout the level of 49280 successfully.
Here, you will have a strong support level, wherein we may decide about buying or selling. And it is the level of 47948 . Intraday traders can keep buying the...
Price has broken the corrective structure and, we are riding on an Impulsive move.
If the price breaks wave ((X)) at 3676, we can expect a new high.
Target 1: 3298
Target 2: 3383
Target 3: 3490
Target 4: 3676
If ETHUSDT is trying to make a new high, It has to cross above wave (X).
I had published ETHUSDT's chart on 1st Oct 2022.
Click here :
It has touched the 3rd target. Will it go for the 4th TP?
I will update further.
Quote of the day:
"Let the market commit to you...
Advice For Day Traders:
XAUUSD is not tradable between the range of 1766 to 1745 . They are trend changer levels.
Gold's Simplified Trading Strategy:
According to Elliott Wave theory, it was in a corrective wave. It has completed the ABC, and now gold can start marching for a new impulse phase. Therefore, we can expect the gold's target price 1782 - 1790+...
Gold (XAUUSD) and silver (XAGUSD) has crashed in the previous week. Gold has lost -113.585 points ( -6.05% ), and silver lost -2.14315 ( -7.68% ). Millions of CFD's traders have lost money in that week.
Where's gold's bottom?
According to technical analysis and fundamentals research, gold can decline more. Gold has broken the strong support trendline (01) ...
In June, XAUUSD and MCX Gold crash due to FOMC events. It has recovered almost 60% to 70% loss in the July month.
Gold spot needs to break 1809 levels to retest support of 1793.6 - 1783.6 . These support levels will push the gold price higher. Gold isn't sellable until the breakout of 1766 ( strong support ).
XAUUSD will touch 1858 - 1898 levels...
Weekly outlook of Gold Spot -
Key levels: 1793.6 and 1783.6
According to my previous newsletter, my gold key levels will remain the same. It's not sellable until breakout the 1766 (strong support).