Looking at Bitcoin from a market structure perspective, it seems as though we are currently witnessing a bearish cycle which could see us test the $55,000 price. In the near to medium term, there is a case for: a bearish (5)-wave cycle, which would suggest that we may have posted a 4th wave correction and could begin to trade lower as we build the 5th wave...
BTC leads, the rest follows? This is ETH against BTC, not USD! So as long as BTC doesn't do a big dump, it sure looks like ETH might push next. With BTC being close to ATH and ETH still missing another 30% just to get to ATH (in USD), that does seem plausible enough. Going by this projection though and assuming at least a stable BTC at the current levels...
In this analysis, we will delve into the oil market’s current state and explain why a significant reversal is imminent. Contracting Triangle Oil has been forming a contracting triangle since the beginning of May. The lead-up to the triangle was bearish, so statistically, the breakout should also be bearish. The upper extreme of the triangle is at $84.45, but...
US10Y doesn't paint too rosy a picture for the cost of debt, it would seem. This count shows a truncated bottom at COVID-low, pretty clear impulse wave up from 0.505% to complete an A wave or wave 1. Wave B or 2 looks like a zigzag so far. If count is correct, the implications for the US economy would be dire, I would think.
My previous analysis showed an ABCDE corrective move as one possible outcome. This pattern is completed and we broke a support level that price has been leaning on several times before. All of this is to me indication that price will continue bearish until the red wave Y finds its end point. First after that the pair may revert to a bullish period again.
A triangle is in its final stage. Although, I like triangles - as they narrow down potential options, being the pattern, that preceeds the last wave in a structure, they are very tricky for traders. As always, you have 3 options: up, down or further sideways :) Trade safe
We had some good news from the US both for the production sites but also a new big contract! We "can´t" go lower than that and that´s why I believe we will go up from here but there are two level that are crucial and price needs to go past them. I can´t really make a new bullish count yet - wait for next update! These low levels have been appealing to me and I...
If I look at the structure and wave extensions and also that we have an overlapping wave pattern that seems to be trapped in a channel the conclusion that I draw is that we will see more downside to finish a wave 4 or what I deem more likely a wave B or X. You can´t see it on this chart but if we would zoom out what we can see is GBPAUD is in a multi-year...
USDCHF turned higher this year, after breaking some important trendline connected from 2022 highs on a daily chart, where a breakout can lead to higher prices within a big triangle range. One of the reasons why Swiss franc is that weak compared to others is because SNB surprised and cut rates twice after inflation has softened. So as long as FED sticks to current...
CNX IT Cmp 37490 ... this is a weekly chart... if this chart holds true... we are in flat correction ... in which we have completed one down leg and up leg... and market is ready for another down leg soon.. Unless we dont break 38600 levels... I would be looking to short IT for downward tgt ... just a view!! Vedang! :)
As per the ongoing pattern, next Target would be between 3900 - 4200. Since there is an already available CUP Pattern with target as 4187, this should cross 3900 and reach 4200.
A scenario on a larger timeframe for EGLD looks like this: we're currently on a wave B (with the next targets for A marked in green). Following this cycle, i expect an upward move for wave B, but it won't reach a new ATH in this cycle
Im looking for this structre an remain bearish. Trade carefully
This is my current EW count for WIF. If we get the chance, buying below $1.20 offers a 4-5x reward if it can reach my Wave 5 target area between $6.40-$7.20. I believe the recent bump up off the lows is just a corrective sub wave 4 on the C leg of an ABC for Wave 4. The reason WIF had such a big correction after it’s Wave 3 is likely due to an extended sub wave 5...
It looks like AUDCAD is gearing up for a significant move. I'm observing a long-term bullish ABCDE pattern, which has the potential to evolve into a 12345 wave. In the short term, accumulation appears to be taking place, suggesting a breakout might occur within the first two weeks of July, especially with the upcoming news events. Keep an eye on this pair!
Still waiting for this structure. More to bearish movement. Trade carefully.
After the ABC move, We have seen a first down move followed by a correction, In my opinion gold will bounce of the supply zone before downward continuation