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Elliott Wave Analysis: BNBUSD Has An Unfinished Wave CHello Crypto traders! Today we will talk about Binance Coin - BNBUSD, its price action from technical point of view and wave structure from Elliott Wave perspective. BNBUSD is trading in a big A-B-C zig-zag correction from May 2021 highs and it looks to be unfinished. In May 2021 we saw sharp and impulsive decline, which should be labeled as a first leg A. From May till November 2021 we have seen a three-wave corrective rally in wave B and since November 2021 it's trading now in wave C. Wave C is a motive wave and it should be completed by a five-wave cycle. If we consider that May 2021 lows is still open, then current sideways consolidation could be easily just as part of subwave (4) correction before we will see another sell-off for the final wave (5) of C towards 250-200 strong support zone. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:BNBUSDShort
by ew-forecast
2
Cronos From Crypto.com Can Be Finishing A Corrective DeclineHello Crypto traders, today we will talk about Cronos coin from Crypto.com in which we see deeper and bigger (A)-(B)-(C) correction from the highs that can be approaching the end soon. The main reason why Cronos looks corrective is an Elliott wave running triangle formation in wave (B) in the middle. In Elliott wave theory , we know that triangles cannot occur in wave (2) as part of a five-wave impulse, so it must be wave (B) which indicates for an A-B-C corrective movement. Triangles consist of five waves A-B-C-D-E. Triangles also suggest that the final leg is coming before a reversal, so in our case wave (C) before it finds the bottom. As you can see, CROUSD chart is already breaking out of wave (B) running triangle pattern and wave (C) can be already in progress. Ideal support we see at the starting point of mania cycle back in October 2021. If we also consider equality measurement of waves (A)=(C), then ideal support zone comes around 0.20 – 0.15 levels and from where we will expect a bullish reversal. Happy trading! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
FTX:CROUSD
by ew-forecast
3
Elliott Wave Intraday Analysis: GME Is Looking HigherHello traders and investors! Today we will talk about short-term intraday GME structure in which we see pretty nice and clean bullish setup formation, at least for a three-wave (A)-(B)-(C) rally away from the lows. As you can see GME made sharp and impulsive rally in March that belongs to first leg (A). In Elliott wave theory, after every five waves, we can expect a three-wave pullback before a trend continuation. So, currently we are tracking an A-B-C corrective setback within wave (B) that can be slowly approaching the end, as we see it moving in final stages of wave C of (B). Ideal support in Elliott wave theory is at the former wave 4 and golden 61,8% Fibonacci retracement which comes around 125 level, so final subwave "v" of C can be still missing. What we want to say is that we should be ready for more gains within wave (C), but ideally once current wave (B) correction fully unfolds. Of course, there's a chance for bigger or more complex wave (B) correction, but the count remains valid as long as it's above 77 invalidation level. Trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NYSE:GMELong
by ew-forecast
2
Elliott Wave Intraday Analysis: GBPJPY Confirms Top In PlaceHello traders! Today we we will talk about GBPJPY and XXXJPY pairs in general, in which we see pretty interesting price action and clear wave structure. As you can see most of XXX/JPY pairs are turning sharply down and the main reason is a recovery on 10Y US treasury notes. We decided to share GBPJPY chart that is turning sharply and impulsively down, clearly within a five-wave bearish cycle which in Elliott Wave theory suggests a top, at least temporary one. Five-wave cycle from the highs can be actually approaching the end and this is barely first leg A/1 from the highs. In Elliott Wave theory, after every five waves, we can expect an a-b-c pullback, so be aware of bounce and recovery around important Fibonacci cluster target area and 160.0 psychological level. If that will be the case, then this would be an indication for an Elliott wave a-b-c corrective rally into a wave B/2 that can retest 163-165 resistance area before we will see a bearish continuation for wave C/3. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
1
Elliott Wave Analysis: Russell-Small Caps May Face More WeaknessHello traders and investors! Today we will talk about small caps - Russell 2000 Index in which we see nice and clean bearish setup, which means that Russell may face even more weakness in current risk-off sentiment. From Elliott wave perspective Russell can be trading in bigger, higher degree A-B-C corrective decline, where wave C is still missing. We can see five waves of decline into first leg A, followed by a three-wave corrective rally in wave B, so wave C can be now in play. From technical point of view, Russell made an impulsive drop from the highs and retraced perfectly back to the former wave 4 resistance area, from where we can already see sharp sell-off that can take us much lower, especially if breaks channel support line. Well, seems like bears are still in control and we should expect more downside pressure in upcoming days/weeks, maybe even down to 1500 area, but firstly we want to see broken 1900 bearish confirmation level. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
CME_MINI:RTY1!Short
by ew-forecast
1
Elliott Wave Analysis: Palladium With Bearish Setup FormationHello traders! Today we will talk about Palladium, its price action from technical point of view and wave structure from Elliott wave perspective. On Palladium we have noticed the top for wave (V) at the beginning of March and in Elliott wave theory, after every five waves we have to expect at least a three-wave A-B-C pullback. As you can see, Palladium turned down sharply and impulsively in March, which we see it barely as a first leg (A). After a completed wave (A), we can now see it trading in an A-B-C corrective recovery within wave (B), where ideal resistance is here at the former wave 4. So, from Elliott wave perspective, we have just got a nice bearish setup formation and we have to be aware of another sell-off for wave (C) soon. From technical point of view we see nice resistance here around 2500-2600 area and channel upper line, maybe even up to 50%-61,8% Fibonacci retracement and 2700-2800 area, but keep in mind that a reversal down towards projected strong 1500-1300 support zone may occur anytime soon. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NYMEX:PA1!Short
by ew-forecast
USDJPY Could Retest The Highs, While US Bonds Are DownHello traders! Today we want to share an intraday update for USDJPY pair in which we see nice and clean bullish impulse in progress, ideally back to highs for wave 5 that can retest the highs and 125 - 126 area. The main reason why USDJPY may stay up is still an unfinished five-wave decline on 10Y US Treasury Notes. As you can see, there's a negative correlation, so if bonds are still pointing lower for wave (5), then USDJPY could easily stay up, while the price is above 123.05 invalidation level. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Long
by ew-forecast
1
Elliott Wave Analysis: Natural Gas Is Breaking Bullish TriangleHello traders and investors! Today we want to share Natural gas chart, in which we see pretty nice and clean bullish development. As you can see Natural gas is up since 2020 lows and looks like it's still unfolding five waves up from the lows. From Elliott Wave perspective, we are currently tracking big bullish triangle pattern in wave (4), which looks to be completed with recent breakout above upper triangle line. So, if we are on the right path, then Natgas can be on the way even higher, ideally towards 7 area for wave (5), where we see important Fibonacci cluster target zone. From technical perspective, as long as the price is above strong daily black trendline connected from 2020 lows and above 4.0 level, we can expect a bullish continuation at least towards 7.0 area. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NYMEX:NG1!Long
by ew-forecast
Elliott Wave Analysis: ETHUSD Is Trading In Wave CHello Crypto traders! Today we will talk about Ethereum, its price action from technical point of view and wave structure from Elliott Wave perspective. ETHUSD is in recovery mode and from Elliott Wave perspective we can see a three-wave A-B-C Elliott wave corrective rally in progress. The main reason why we are looking for a corrective rise is because of wave B Elliott wave triangle in the middle. Triangles cannot occur in wave 2, so it should be an A-B-C. Wave C is a motive wave and it should be completed by a five-wave cycle, where final wave (5) of C is still missing. So, from technical point of view, we can easily see more gains till the end of the week, ideally towards projected 3600-4000 resistance area, from where we will have to be aware of a reversal down again. Be humble and trade smart! If you like that we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BITSTAMP:ETHUSD
by ew-forecast
1
Aussie Is Approaching Potential Resistance Ahead Of RBAHello traders! Today we will talk about Aussie (AUDUSD) in which we see slow price action and corrective wave structure since end of January that can be now approaching important and strong October 2021 highs resistance area ahead of important RBA. From Elliott Wave perspective, we are tracking a complex 7-swing A-B-C-X-A-B-C elliott wave corrective rally which can be nearing the end, as we see it trading in final stages of wave 5 of (C). The main reason can be a break out of wave 4 elliott wave triangle pattern that suggest final leg before a reversal. From technical point of view, we see it coming into important channel resistance line connected from the lows and interesting Fibonacci levels that can stop anywhere here in the 0.7550 - 0.7650 resistance zone. Trade well! If you like that we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
2
Elliott Wave Analysis: German Bund Is Trading At SupportHello traders and investors! Today we will talk about German Bund, where we see very interesting support level after recent bond market crash. As you can see, bonds are sharply down and if we take a look at German Bund monthly chart, from Elliott Wave perspective, we can still see a corrective decline within higher degree wave (IV). From technical perspective, ideal support would be here at the former wave IV, 38,2% Fibo. retracement, base channel upper line and the 155 - 150 area. So, be aware of limited decline and watch out for bounce and new rally within higher degree wave (V) soon. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
EUREX:FGBL1!Long
by ew-forecast
Elliott Waves: EGLD Is In Higher Degree Wave IV CorrectionHello Crypto traders! Today we will talk about cryptocurrency EGLD, its price action from technical point of view and wave structure from Elliott Wave perspective. Looking at the weekly logarithmic scale chart, we can clearly see a completed five-wave cycle within higher degree wave III and with broken channel support line, EGLD could be now trading in wave IV correction. Corrections are made by three waves A-B-C and ideally back to the former wave 4 swing low, so current recovery looks to be just a three-wave corrective rally in wave B before we will see another decline for wave C. What we want to say is that in the short-term, EGLD can see more gains towards 250 -350, maybe even 400 area for that wave (C) of B, but later then watch out for another decline towards strong 50 support level before real bulls for a higher degree wave V show up. Trade well! If you like that we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:EGLDUSD
by ew-forecast
3
OGNUSD Is One Of The First Coins That Shows Potential BottomHello Crypto traders and investors! Today we will talk about cryptocurrency Origin Protocol (OGNUSD), in which we see quite interesting bounce after we noticed a completed A-B-C correction from all-time highs. Origin is a protocol for creating sharing economy marketplaces using the Ethereum blockchain and IPFS. It empowers developers and businesses to build decentralized marketplaces on the blockchain. Its protocol makes it easy to create and manage listings for the fractional usage of assets and services. Sharp rebound from projected 0.23 support level can be first signal for a bullish reversal, especially if we consider that both legs A and C equaling 86% sell-off. However, keep in mind that Crypto market is generally still bearish, there are only few ALTcoins with such big bounce, so OGN has to stay strong for a bullish view, we may just see some short-term pullbacks. Keep also in mind that real bullish confirmation for OGN is only above 1.5 region, but only if it manages to stay above that 0.23 level. Manage your positions wisely! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:OGNUSDLong
by ew-forecast
2
Elliott Wave Analysis: USDJPY Yearly UpdateHello traders! Today we want to update our USDJPY chart from January 2021, when we mentioned and highlighted the bottom and bullish reversal with ending diagonal (wedge) pattern and weekly bullish engulfing candlestick formation. As you can see on the left, since then USDJPY is in massive and impulsive weekly rally within a five-wave cycle, where we are tracking final wave V. However, looking at the smaller time frame, in the 4-hour chart on the right, we can still see it trading in an extended wave V, which should be completed by a five-wave cycle of the lower degree. That being said, seems like USDJPY has room for more upside, but currently it can be finishing wave (III) of V around EW channel resistance line, so be aware of a pullback in wave (IV) that can occur anytime soon. Once USDJPY starts sharply falling back below EW channel support line, this is when we can start tracking a correction in wave (IV), where ideal support would be around December 2016 highs and 118 area. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
3
Elliott Wave Analysis: AUDJPY Broke Out Of Triangle - UPDATEHello traders and investors! Today we want to update our AUDJPY chart from February 10, which is moving nicely higher as expected after we noticed a bullish running triangle formation in wave (B). As you can see, AUDJPY is now in the strong rise, but it's also approaching projected 88-92 target area for wave (C). However, wave (C) is a motive wave and it should be completed by a five-wave cycle of the lower degree, so be aware of more short-term gains before it finds the top. Keep in mind that triangles suggest final continuation leg before reversals. Trade well! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
by ew-forecast
5
EW Analysis: Bitcoin Is Consolidating Within Impulsive DowntrendHello traders and investors! Today we will talk about Bitcoin, its price action from technical point of view and wave structure from Elliott Wave perspective. With US stocks in risk-off mode it's hard to be bullish on BTC, especially when we see a sideways consolidation, which is usually a corrective movement within downtrend. In fact, price action since end of January looks slow and corrective, possibly even a triangle pattern for wave 4 that can send the price back below June 2021 lows and 30k level for the 5th wave. So, as long as 46k holds, we think there is a chance for another drop in Crypto market. Be humble and trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
CME:BTC1!Short
by ew-forecast
4
Elliott Wave Analysis: GOLD Is Trading In 5th WaveHello traders and investors! Today we will talk about gold, its price action from technical point of view and wave structure from Elliott Wave perspective. Gold is coming sharply to the upside as a "safe haven" asset based on the latest US-Russia tensions. Higher inflation is also one of the reasons for higher metals. We see gold breaking out of wave (IV) triangle pattern, so we see this as a break towards new ATH. In the short-term however we should be aware of some pullbacks, but generally speaking, gold may stay up until it hits new ATH and fully completes final wave (V). Later then we will have to be aware of a higher degree corrective slow down. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SAXO:XAUUSDLong
by ew-forecast
2
Elliott Wave Analysis: ShitCoin Index Is Eyeing July 2021 LowsHello Crypto traders and investors! We are pretty sure you are wondering when it's time to buy cryptocurrencies again. Well, Cryptos are still trading in a bigger sideways correction, which we see it as an A-B-C flat formation, especially if we take a look on shitcoin index, where we see quite clear Elliott Wave Pattern, called 3-3-5 flat correction. A 3-3-5 flat correction consists of three waves in leg A, three waves in leg B and five waves in leg C. As you can see, we have (W)-(X)-(Y) complex structure in wave A, then wave have a three-wave (A)-(B)-(C) corrective recovery in wave B and now we are trading within a bigger ending diagonal pattern for wave C. The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast, and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move. So, what we want to say is that shitcoin index and cryptocurrencies in general can be trading in final stages of a corrective movement, where we are tracking final wave (5) of C, which will ideally retest July 2021 lows and then we will expect real bulls to show up. Be humble and trade smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
FTX:SHITPERP
by ew-forecast
Running Triangle On AUDJPY Suggests A Bullish ContinuationHello traders! Today we will talk about AUDJPY pair and its price action from technical point of view and wave structure from Elliott Wave perspective. AUDJPY is in a sideways consolidation since May 2021 and looks like a triangle pattern. Triangles are continuation patterns, which consist of five waves A-B-C-D-E and with current break above upper triangle line, seems like it's finally finishing a corrective running triangle that can take the price higher with room up to 88 - 92 area. Of course, triangles can be sometimes very complex and they could take even more time, so in case of another decline, then we may see even more sideways price action. Anyway, as long as the price is above 80.40 invalidation level, we can expect further rally. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Long
by ew-forecast
While DAX Is Ending Consolidation, EURUSD Is Nearing SupportHello traders and investors! Today we will talk about DAX and its positive correlation with EURUSD, as we see them approaching some interesting support levels. Since March 2020, we can see DAX and EURUSD moving together most of the time, the only difference is that stocks are much stronger, however, as soon as we see stocks slowing down, even EURUSD comes lower. What we currently see is that DAX is still in sideways consolidation and this is why EURUSD is coming down, but once DAX completes its corrective pattern within wave IV and starts rising into a wave V, then we can expect EURUSD to stabilize again, so be aware of limited downside for the EURUSD here around 1.11 - 1.10 area. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
EUREX:FDAX1!
by ew-forecast
9
Elliott Wave Analysis: SILVER UPDATEHello traders and investors! We want to update our silver chart from December 20 2021, where we mentioned and highlighted about that bigger ending diagonal pattern within wave C of a bigger A-B-C irregular flat correction. As you can see, we are still moving within final wave "v" of C, which should be finished in three legs (a)-(b)-(c) and after recent corrective rally in wave (b), we could be now in final stages of wave (c) of "v" of C that can ideally stop in the 21-20 strong support zone and from where we will expect a bullish reversal. All the best and have a nice weekend! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
OANDA:XAGUSD
by ew-forecast
Elliott Wave Analysis: Cable Is Back To Bullish ModeHello traders! Today we will talk about Cable (GBPUSD) in which we see quite clear bullish development from Elliott Wave perspective. As you can see, Cable made only a three-wave A-B-C decline since June 2021 highs, nicely connected within channel range and with equality measurement of waves A=C. It clearly indicates for a higher degree wave IV correction, especially after recent sharp and impulsive reversal from 1.3160 lows and back above channel resistance line that confirms lows is in place. So generally speaking, we remain bullish on GBPUSD while the price is above 1.3160 invalidation level, especially if breaks above 1.3850 region, just be aware of short-term pullbacks before a continuation higher, because US dollar index is still looking higher. Trade well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Long
by ew-forecast
5
Elliott Wave Analysis: USDMXN Remains BearishHello traders! Today we will talk about USDMXN pair, in which we see quite clear bearish pattern from Elliott wave perspective. Looking at the daily chart, we can see a nice three-wave W-X-Y corrective rally within a higher degree wave (IV) and correction looks to be completed after recent sharp decline, which looks to be unfolding five waves down from the highs in the 4-hour chart. Five waves down from the highs indicate that market found the resistance and it's turning back to bearish mode, ideally back to lows for a higher degree wave (V). So, watch out for more weakness in the first half of 2022, we will just have to be aware of short-term a-b-c corrective pullback within downtrend. The main reason for a potential pullback within an a-b-c corrective recovery could be strong resistance on Crude oil, so if Crude suddenly slips following stock market sell-off, then USDMXN could face some rally, but probably temporary only with resistance in the 20.75 - 21.35 zone. Trader well! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Short
by ew-forecast
2