FX:XAUUSD continues to consolidate, the market is uncertain, there are reasons for both long and short positions, but everything will be determined only by the exit of the price from the specified range. The current situation is as follows: the price earlier broke the resistance of the wedge, which in general can be perceived as a hint of the end of the...
GMT is seeing some recovery in the last 2 days, but I see no reason to be bullish yet. I'm looking at an ending diagonal (green I-V), which would require one more leg down to complete blue wave 5 / black wave C. There is also no RSI divergence and no higher high. Overall, bears are still in control.
Bitcoin has finished its corrective pattern (ABC ZigZag) and is ready to go higher. My next target is 70k (69577) because we have a 1:1 FIB extension level at this price. Usually this Fibo level is pretty significant; that's why I am expecting a small crash from it, but after that, we should continue much higher, to the 1.618 FIB extension. Of course, we need more...
- This is what I'm expecting in the bigger picture. - This move can pull the price of gold to 2500-2520 roughly.
- Gold moved impulsively to the upside breaking the channel: this is wave 3. - Wave 2 was extended, so I'm expecting wave 4 to be sharp and quick. - Silver is a leader in this move. We shall see how much power is in gold move.
On the higher time frame, we have failed to go back into the range value from May 2022 to Jan 2024 On the medium time frame, we have entered into the range value of from Jan 2024 to April 2024. This attracts a rotation to its value POC or VAH. The said range can also be said as an ABC correction and we are ready for a wave 3 impulse. Currently we have the...
🏃♂️ Bitcoin is moving near the 🟡 Potential Reversal Zone(PRZ)($61,800-$60,900) 🟡 and 100_SMA(Daily) and Support lines . 🌊According to Elliott's wave theory , Bitcoin is completing corrective waves , most likely a Zigzag(ABC) corrective wave structure. 💡We can consider corrective waves in the form of a pullback to the upper line of the descending...
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,...
The stock has retraced to complete W-4 at Fib 0.618 golden ratio. It is on the way to the fifth wave. Watch out for the upcoming resistance. Wave -5 could be a failure so when getting on the target just before that, it may some aggressive selling. Everything I present here is for educational purposes, and it is not a recommendation for selling or buying.
- This is the bullish count for a breakout in gold. Silver already broke out and gold might follow. - Gold completed Wave 1 and 2 of wave 3 and wave 3of3 is ongoing. The move is expected to be strongly to the upside.
nas 100 so far looks to be holding the .768 retracement will it push thru it or push back to the downside will see what happens in next few days. overall market is still bullish
MU appears to be forming a Bull Flag here but at the same time SEMIs getting weaker one by one with guidance down or earnings miss etc, I see a short opportunity with a less resistance to the downside. Short once the bull flag fails Traget#1 105 Target #2 100 Stop Loss - 124
Bullish count on left, bearish count on right. Lots of gymnastics on the left, but it is still just a series of impulse waves up, with key higher low pivots held. There are different ways to interpret these impulse waves collectively, and the one I have chosen would get one complete impulse wave off low of 4963.50 to happen the quickest. Key price support at...
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,...
Hello friends In the USDCHF currency pair, we see the formation of a 3-wave pattern. In counting Elliott waves, these 3 waves are considered either a zigzag pattern or 3 waves out of 5 impulse waves. Therefore, in both cases, there is a need to correct the price. Now, considering the formation of a terminal triangle pattern in wave 3 or C, we consider the...
My bullish count has completed impulse (1) off low of 15473.78, completed regular flat wave (2) from high of 73757.39. The flat is within the green ellipse, and the C wave of the flat is not my favorite; however, I think the possibility of a diagonal for lower lows has been eliminated at this point. Price moved above 65000 and has moved back down towards the...
- Gold is involved in sideways correction. - Watch out for whipsaws. - The way to go is to fade breakouts.