The market for the last few weeks has been really choppy. The wave count which I posted earlier was updated in this chart after further inspection. The current market condition is not favorable for bulls at all. First of all, the 5 wave impulse which is also shown in the chart can be a part of bigger extended flat correction leading to bear market. Since the wave...
Following the previous analysis on Dow Jones, we saw the anticipated downward flush for the past couple of days. Currently, the downward wave A seems to be finished following by a flat correction ABC as shown in the chart. Overall the market is still bearish and the downward trend will continue once sufficient retracement has reached. My main wave structure of...
I have broken down the entire wave structure of the upward impulse which started in October 2022 up to today. The chart is self explanatory and consist of my main wave count of US30 Index. Right now we are starting our Wave C of corrective cycle which is expected to bottom in the given range but the outlook can change depending on the upcoming news.
*This post is for Educational purposes only* Keeping it simple on BTC chart according to Wave analysis, so far we have confirmation that the Bull Market ended at 64,854$. If you had seen the Ending Diagonals shown by red waves, they are confirming the ending of upward trend. Followed by our first Corrective wave. The upward corrective wave pushed beyond the price...
The recent BTC downward movement looks more like impulsive than corrective to me. Looks like we are currently in a expanded impulsive wave 3. 20.6k region, which is the last hope for bulls is still yet to break. But i am keeping my bearish Bias. Currently targeting 17k region but 13k region is also a possibility. The sentiments will be more clear in a day or two.
This is a follow up to my previous SPS500 analysis. Have a look at the idea mentioned below to check the wave structure on Daily Chart: Currently we are in B wave which due to bullish sentiments in the market expanded above the start price of Wave A. Similar to NAS, I am anticipating the converging diagonals on SP as well while expecting the drop in prices by next week.
As you can see in the chart, I have outlined the current ABC waves which we are in right now. C wave consisting of converging diagonals broke the price upward from the Triangular Formation. We are currently in the last 5th wave of out converging diagonal. which will be followed by the downward trend in the market by next week probably.
We saw nice pump on Friday before market closing and an upward gap upon market open showing that the bears are getting hammered. In meantime, I would like to point out on the overall outlook on S&P according to daily time-frame. As you can see the correction shown on daily time-frame which consist of simple WXY waves are still underway. I am currently projecting...
After the roller coaster ride, the Bull party is in their ending stages now, I am expecting the bears to take over from here. Everything is explained in the chart, currently following my Bearish Flag structure on BTC which i drew last week. I am aware that we broke up from major trendline resistance today and all the bullish scenarios currently possible, but i...
So far, my today morning long has seen good profits with currently in 9x unrealized profits than the risk. Though the upward trajectory so far is not looking satisfactory to me. There is a high possibility that this can be a zig-zag corrective wave of 4th impulsive wave as shown. We are currently at an important level, in case this case is correct, the fall will...
As everyone knows, the recent CPI data came in at 9.1% which is higher than expected. We saw a swift red candle in all markets right after the release of CPI data. While whole market is in fear and waiting for crash, I would rather prefer going against the majority and enter into long position. My plan for Bitcoin right now is to trade the E wave of Bear Flag...
I jumped to conclusion early (because of exhaustion from monitoring the market) and forgot the key point of expanding diagonals which is that wave 4 must retrace more than ending point of wave 1 but should not go beyond ending point of wave 2. I admit my mistake, thankfully i realized just in time and closed my short in a bit profit (~50% profit of what I risked...
Almost 80% of the market has turned bullish at this time. So I would like to point out a Bearish case on SP500 today. Similar to my BTC outlook, this also involves formation of Expanding Diagonal Waves. Even though we broke upward from the trendline, this does not implies that we have invalidated the bearish PA (at-least not yet). We are currently at a critical...
Gold has ben in a continuous downtrend. which consisted of 5 downward impulsive waves. It is yet to be decided rather the impulsive waves are Elliot Impulses or Extending Diagonals. In case it is Elliot impulse waves, 1700 - 1705 is the region from where we should see a bounce which is the range of 100% extension of wave 1. In case we go lower, then it can be...
The recent decline on EUR against US Dollar is about to finish its 5 wave cycle in upcoming couple of weeks. Which will be followed by an u [ward relief rally. Once the 5th of the 5th of the 5th wave is completed, That will be the time to go into long positions at the mentioned expected fib level.
BTC seems to be breaking down from what appears to be somewhat of a bear flag which can be considered as upward ABC correction. But in my opinion, this is another trap for bears, the downward which i am expecting is around 18k - 18.5k range with upside target of ~25k.
I have been eyeing at the 34k region since a couple of days, I explained in my previous analysis, the reasons why 34k is most likely to be reached before we see any further downside move. We are currently looking at a zig-zag corrective structure. BTC has been making ABC corrective waves. It recently broke the trendline and is currently consolidating below that...
In my recent analysis, I talked about somewhat of a bullish case for SPX. In this chart i am mentioning bearish case which is also 100% possible (but less probable imo). If we consider the downward move to be consisting of WXY instead 12345, then it negates the possibility of reaching the levels mentioned in previous analysis and indicates we will be seeing the...