FX:NZDUSD is entering the consolidation phase after breaking the local trend resistance. On D1 the price enters a new range and on H1 a golden cross is formed. The dollar is standing still and losing positions since the opening of the session on the background of negative news. This is generally favorable for the currency pair. In this case, a retest of the...
XAGUSD is an intriguing chart. It certainly has some catching up to do with gold, with some huge potential gains if this count plays out. First step would be completing a wave 3 in the 47.5-50 range (double top), correction towards 38-40, then a break up towards 70. If this count continues to play out, I think the move towards 50 will be relatively quick,...
FX:XAUUSD is growing and testing local descending resistance. Growth is associated with the decline in the dollar index on the background of Powell's comments. Ahead of the news on inflation... Technically, on H4 the price overcomes the correction phase and returns to the bullish rut, testing the local maximum. Bulls are focused on consolidation above 2350. If...
SOL is on his way to complete the ABC zig-zag 1:1 around 169$ - 178$ as correction of the first 5 impulse waves down. Then fallow the second leg or the another 5 impulse waves down which will complete the long-term ABC correction. A very likely target is the long-term swing fibonaci tetracement at 0.618 around 85$. If the current ABC complete at above target...
It is interesting to study the Production/Accumulation/Distribution/Industrial Demand as well. Silver seems to hit a breaching point where physical prices have a premium about +45% for buying it and +20% for selling pure silver bullion coins. Troy oz./oz. is about 1.10, which should reflect a recomended trading price of 25.4$ per troy oune. Anybody able to buy at...
We can get a good overview of the correction in the weekly chart. The ABC correction is beginning to find support levels, but it hasn't tested the major gray zone at 0.040. Of course it doesn't have to, but this would be a good level to look for long trades. Once the purple level (at 0.0667) breaks, I'm definitely bullish.
Stocks are in recovery mode, with major indexes trading at all-time highs. This movement began after the US unemployment rate showed a slight decrease in jobs two weeks ago, suggesting that inflation could potentially weaken. This trend was further supported by this week's CPI data, which indicated a drop from 3.5% to 3.4%. Speculators believe that the Federal...
If you understand Elliott waves, the chart labelling is self explanatory. A textbook Elliott wave impulse pattern with missing 5th wave of the 3rd wave. Thanks for reading, will update as price develops further.
I thought that the major wave 2 correction should end at 0.092 for quite sometime. However, there are 2 things I think it make my thoguht is wrong. 1. This sideway is too long to be subwave 4. 2. Yesterday candle broke sideway trend and today candle retest it then go up. I start to buy and hold my position from today. Yeah, I might wrong again.
Hello All, Please find attached a detailed video on timeline change for wipro, and I am attempting to identify when the next bull run will start.
AMEX:SPY May 16, 2024 15 Minutes. AMEX:SPY opened gap up. Since long was confirmed as the rectangle was broken out the previous day, i waited for a good close of bar. I bought around 527. I had earlier marked the extension for the range 515 to 522.66 to 519.74. This gave a 1.618 target as 532. For the day, since I always believed gaps are strong if not...
Yesterday we took a look at altcoins that are not doing great - today we'll list a few alts tat are performing well and still have further upside potential. 👍 TRBUSDT 👍SOLUSDT If Solana can CLOSE above $150, it is highly likely that the Elliot Wave theory is still in place: 👍 RUNEUSDT 👍 BNBUSDT BNB is looking strong, it's likely we'll see a new ATH...
Since the beginning of May, Bitcoin has embarked on rather bullish looking wave structures, in response to the dive of late April that landed the coin just around the 57 k mark. In Elliott Wave perspective, per the principle by which market structure is built, BTC has clearly completed a five-wave impulse, and has corrected this advance in a three-wave pullback,...
XAUUSD possible forming a tripe zig zag (W)(X)(Y)(X)(Z)( Green ) in wave B ( Yellow circled ) instead of expanding diagonal from previous ideas. The latest CPI data probably "price in" for Just 1 rate cut by Sept 2024 from FED.
- Looks like Wave 1 of 5 if in place as expected. - Now the correction for Wave 2. The nature and depth of correction is unknown. - I'm assuming 50% correction to 2335 but this is subject to change. - Most traders should be flat.
Here I have USD/CHF on the Daily Chart!! Now given its remarkable rise to its current HIGH @ .92242, followed by the strong drop to the LOW @ .9005 .. This week we've seen Price make a Fibonacci Retracement back to the Golden Zone meaning price is CORRECTING AFTER THE IMPULSE ELLIOT WAVE!! Now with Price working past our LOW, we could see price drop as low as...
Y'all gonna get rekt shorting this. Wave 5 underway. Might get another dip the next few weeks and then off to the moon. Targets based on various EW counts.