Decentraland with ticker MANAUSD may have formed a nice textbook bullish setup formation. We see a five-wave rally into wave A/1 from the lows, followed by an a-b-c correction in wave B/2 right into the former wave "iv" and 61,8% Fibo. support area. So, it can lift the price higher within wave C or 3 towards 1.0 area for wave C or maybe even higher for wave 3. We...
Cable has seen some nice recovery at the end of 2023; move is looking impulsive so more gains can be seen after the corrective retracement which has unfolded down from March highs. So far, price came down with three waves but pair is making a nice turn-up in last few weeks, out of a downward channel, thus it appears that pair is back in bullish mode. In fact, UK...
Commodities have been in a bull run since 2020, within an uptrend that can resume after the pullback observed in 2022. Analyzing the CRB Commodity Index, I believe that the pullback from that recent 2022 high isn’t over yet. There’s potential for a C wave that could retrace to 38.2% of the 2020 bull run. This may suggests that inflation might cool down, but much...
Stocks remain in risk-on mode after Nvidia's beats earnings expecations, so it’s not surprising to see DAX also turning up. Index has stabilized at the first support area between 18,620 and 18,560 from where we can see the price attempting to break out of what can also be referred to as a bullish flag, therefore, the market will at some point resume higher into a...
We have been talking a lot about a corrective price action in the Crypto market for the last couple of weeks. We also shared a lot of free charts, articles and even video analysis, where we mentioned and highlighted a higher degree wave 4 correction within an ongoing five-wave bullish cycle. As you can see today, Crypto market is nicely extending higher as...
Bitcoin rebounds strongly to 65k area, which can be signal that correction may be over from technical perspective and by Elliott wave theory. We have been talking a lot about a corrective decline in the Crypto market in the past weeks. We also talked about Bitcoin ahead of the halving and we also shared a free chart back on April 15th, where we mentioned and...
Kiwi showed a robust continuation candle last week on the daily chart. The price recovered above the 0.6085 resistance level and finished the week above the 0.61 area, suggesting a potential continuation pattern unfolding in the middle of an impulsive recovery. This week, the Bank of New Zealand's interest rate decision is anticipated, and they are not expected to...
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...
Treasury bond TLT has been trading lower since the start of 2024, but after an impulsive rally at the end of 2023, we believe it's just making and finishing a deep A-B-C corrective decline. It's actually now coming into key strong support zone at 61,8% - 78,6% Fibo. retracement and channel support line, from where we should be aware of bounce, recovery and...
The US dollar is showing a notable downturn after today's CPI figures were released at 3.4%, down from the previous 3.5%. This reinforces market sentiment that the Fed is unlikely to hike rates, especially after comments made by Powell yesterday. This scenario supports a risk-on environment, especially considering the bearish Elliott Wave structure in the US...
ETHBTC is one of those charts, which can be telling us that volatility is near. Loking at the daily price chart, it can be actually finishing a larger (A)-(B)-(C) correction, currently seen in final stages of the wedge pattern within subwave 5, with ideal swing zone here around channel support line , 0.045 – 0.040 area. So, as we have been talking about for a...
We have been talking for a long time about bullish UK stock market index FTSE100 a.k.a. Footsie. We also shared the chart with our members more than a year ago, where we were tracking wave 4 correction within an ongoing five-wave bullish impulse. After a longer sideways consolidation, it turned out to be a bullish triangle pattern in wave 4, but as you can see,...
Silver may resume its uptrend after recent corrective decline from technical point of view and by Elliott wave theory. We have been talking a lot about bullish metals in the past months and they may easily stay in the uptrend, especially now when bonds across the globe are recovering away from the supports. We have seen some slow down on silver recently, but we...
This year JPY hit new lows across the board in last few weeks even though BOJ decided to end its ultra-loose policy, by raising rates for 10bp in March. USDJPY broke higher, out of a triangle on a daily chart, so we know that this is most likely final leg with a higher degree wave III/C. In fact, there was a nice push up to 160 resistance not seen since 1990,...
Hey traders! The US dollar is advancing, make cryptocurrencies weak as stocks market turns south ahead of key economic data from the US. As you know, the Fed will release its latest decision on interest rate policy today, and there is increasing speculation that they will maintain their current stance for a longer period. This anticipation is driving the US...
Audusd is turning higher I believe, showing evidences of a bottom with current recovery from the lows, that looks impulsive. Also, inflation in Australia came out stronger this week and copper, plus HSI are higher as well. This can keep aussie in uptrend as discussed in video. Thx for watching.
We talked about bullish GrayScale Bitcoin Investment Trust (GBTC) already back on February 28th with a weekly free chart, where we mentioned and highlighted an ongoing five-wave impulsive bullish cycle. Well, as we actually expected, after GBTC reached all-time highs, we can see a projected slow down that looks like a wave (4) correction. A correction actually...
Gold spiked to a new intraday high during Asian trading hours after new escalation on the Middle East, but notice that price did not reach new all-time highs, suggesting that wave 4 is still in progress. This could evolve into an ABC correction dropping to support levels at $2300 or $2270. Alternatively, it could form a triangle if prices stabilize around the...