Regarding the daily EW, hourly decomposition of waves. Would be great to stay above 300 but a possible dip lower should not be neglected. May dip to 260 (50%fib) but I doubt it. I believe the whole ABC correction is in place.
Very much the same as Silver, Gold pulled back on EW4 in the 38.2 of EW3, found support at EMA89 and reached the former breakout level. As long as the PA stays above $1300 mark, Gold is bullish on EW5. Target on EW is set at $1400 mark with a potential completion of bearishcrab at $1469 mark.
Ever since we got the bearish cross on SPX in August 2015, PA did make a new ATH but hasn't made a bullish cross! This overthrow is even more bearish imo.
The roadmap obviously shows a correction is underway for at least 50% drop if not more, but let's be conservative and estimate a drop to 2007 peak at 1576, that makes 28.17%.
We'll see what happens there. Cheers
After completing the bullish butterfly in February, Tesla made an inverted Head And Shoulders, broke the trendline which lead to butterfly completion, failed to make a new high but went instead to test the trendline break and made a bullish turn.
Target 252.75 still on table.
GLD broke out and reached target - Golden Cross. Now going to retest the trendline break and I expect to continue higher. However, ruling out the pullback to 38.2 or even 50 would be very ignorant. Dropping bellow 110 would target 105s.
After a double bottom formed above 1.85, there is a pretty good chance that PA will make the break of daily trendline and continue above 1.88. Should this happen look for bearish crab completion above 1.91. Failing to do so, a visit to 1.85 lows is very likely.
Since WTI price has a great impact on CAD, drop in oil price would weaken CAD and longing GBPCAD...
Although SCCO completed the bearish gartley, the pullback tested the daily breakout. Should keep above the daily trendline and go for a new high. This move is playing on weekly double bottom so very likely for bullish continuation.
Strong resistence cluster around the 30 mark, supply. If this breaks look for 35.63 harmonic target on bearish crab.
Nasdaq has not reached the harmonic target for short, the bearish shark, so be careful with any shorts. It might not complete and follow DowJones and SPX. However I believe the shorts are safe once it breaks 4400, til than patience.
The completion of bearish bat at 17490 provides a short term support for now but is a valid short setup. Can not rule out the attack on 18000 but it is not likely. However, load small and add on the way :)