Hello traders! In the previous sequence of posts, during last months we argued that OIL was about to conclude a triple three correction in cycle wave (2). url=https://www.tradingview.com/chart/USOIL/bXUSnG2y-US-Oil-Last-downward-leg-Pt-3/]1 We identified the count in the above chart after the bearish triangle that led to this last leg up. We already took profit...
Hello traders! In previous posts we explained how we believed the last leg up from October's low in the SP to be a primary corrective wave (B) to the upside on overconfidence about the soft landing narrative and FED policies. You can see from this daily chart how low were volumes during this last period. We were expecting the target of this upside movement to be...
Hello traders! In previous posts (links in description) we argued about how we believe Oil to be in a cycle corrective wave after big impulse from covid low. We believe this corrective move is unfolding as a triple three targeting the GZ, and confluence zone, in the 56-63 area. This is a big picture of this macro view A great long opportunity will later come in...
As per previous post, , we are shorting copper from 413, since we believe wave B as been completed at 435, creating a bearish wolfe wave pattern, and a wave C to the downside is beginning to unfold. Our stop loss is on entry and the tp is at the wolfe wave target line at 364.
From a while we have been following the idea of SP500 following a double zigzag to the upside targeting 4300+. We believe this upside to be temporary as per the structure of the downside leg from January's top and the low volume of the recent upside. In this previous post we outlined the idea of the last C wave of the second zigzag to be about to start, and a...
Hello traders! As per previous posts, we believe the SP500 to be in a primary wave (B) to the upside correcting the donwtrend from January's 2022 top. Here is the count on the daily time frame: Price action shows this primary wave (B) unfolding as a double zig-zag. The structure of the last decline from 4194 seems a 3-3-5 that would complete wave B of the last...
Hello traders, in our previous posts about oil we highlighted how we expect cycle wave 2 to complete around the 57-63 area with the final C wave of the corrective structure. We then showed how we applied leading indicators to obtain confirmation of more downside: . We entered at the golden zone (61.8%fibo) strong volume rejection. We are short from @78.18...
From our previous post, linked in description, we counted Natgas to be in wave iii of C, keeping extending to the downside as long as retailers bottom fishing in mass. We believe that Natgas will provide a beautiful long opportunity, but only once retailers will be shaken out. Price bounced from our support, but created lower highs in a triangle. We are sort from...
Good Morning traders! Here we can see as copper corrected last move to the downside exactly at the Golden Zone+ POC confluence level. During the corrective move, price created a bearish wolfe wave so we believe that it it is ready for continuation to downside. Head and Shoulder on lower time frames! Short from @411.5 stop loss @422.7 risk 1% of equity. Will...
In the previous post we outlined two possible scenarios for silver: - the possibility of cycle corrective wave 2 to complete at 16 -the possibility of main long term uptrend already resumed Concerning the latter, we arrived close to wave 4 invalidation point and the price showed strong reaction. We can see in the lower timeframes a micro 5-wave structure and...
Hello traders! As presented in previous posts, we believe that price has showed to be in a primary wave (B) to the upside to correct all the downtrend from January 2022 high. Price is likely to ungoing the last leg up of this upside correction. Low volumes and over entusiasm about the soft landing narrative suggest us that this rally can go up to 4300+ before...
It seems that this correction in wave 4 of C of primary (B) to the upside (targeting 4300+) finished before what we were expecting, at 4054. Price action in the descent looks choppy and a descending broadening wedge has formed. Nasdaq already broke its 4H bull flag. We therefore closed our short and got long at 4120.3. Stop loss 4100 risk 0.4%
Hello traders, as you can see from the chart above, we believe that oil is about to finish cycle ((2)) correction with the last C wave of a triple three (labeled in the chart). After a 5-leg to the downside (wave A of (Z)), price corrected with a three wave abc into previous structure, that acted as resistance. Price created a triple top at 82.61, and as per...
Hello traders! In the previous post we explained our two different scenarios. However, since price has taken out 4136 and the main descending trendline, we are now considering only the bullish scenario and thus we believe to be in a primary wave (B) to the upside targeting 4300+. This primary (B) is unfolding as a double three, and with last ABC labeled on the...
Hello Traders! As you know, trading is a game of probabilities and navigating the financial markets is not always easy. Different strategies that we use, such as Elliott wave analysis and pattern trading, can provide different scenarios for market movements. However, market conditions are often uncertain and can extend beyond what is predicted by these...
Hello traders! In the previous posts, linked below, we outlighted two alternative scenearios for silver: either a cycle corrective move still to complete at 16 either a wave 1 in long term uptrend reusumption. Silver was ranging near the main trendline of this last cycle correction, and has been rejected for the third time in the 24.6 big volume area (see...
Hello traders! In the last time big thoughts wondering whether the crypto market has bottomed or not. Different scenarios are still in place, however we want to point out the possibility of a new cycle to the upside for XRP. As you can see from the main chart, xrp has been ranging between the yellow zones for months, near to the POC. For very volatile assets as...
In our previous post we explained how we believe that NaturalGas is ongoing an ABC correction from 9.995's top. Actually we believe to be finishing wave iii of C of this zig zag, as showed in the chart. As explained in the previous post, we were waiting for the small red zone in chart between 2.4 and 2.5, where the algo tp of the whole move down and the level...