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Elliott Wave Analysis: SILVER Is Nearing Strong 20-19 SupportHello traders and investors! We want to update our silver chart from October 26th, where we are still tracking a bigger A-B-C irregular/expanded flat correction and wave C seems to be still in progress, ideally as an ending diagonal (wedge) pattern. The ending diagonal a.k.a. wedge pattern 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. It reflects a “calming” of the market sentiment such that price still moves generally in the direction of the larger move, but not strongly enough to produce an impulsive wave. Ending diagonals consist of five waves, labeled 1-2-3-4-5, where each wave subdivides into three legs. Waves 1 and 4 overlaps in price, while wave 3 can not be the shortest amongst waves 1, 3, and 5. As you can see, silver can be now trading in wave "v" of C, which should be completed in three legs (a)-(b)-(c), so we assume that silver could find the support at the beginning of 2022, ideally around 50%-61,8% Fibonacci retracement and 20-19 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.
OANDA:XAGUSDLong
by ew-forecast
EURGBP Elliott Wave Analysis: Ending Diagonal Causes A ReversalHello traders! EURGBP is coming higher for the last few weeks, after the pair moved to the lower side of a big 2016-2020 range. Notice that pair is coming higher after a five-wave drop on a daily chart where we see a bottom formation because of a wedge pattern in a fifth wave. Wedge, or ending diagonal, is a special type of a pattern that has a slow and choppy price action, with slow momentum and volume, which is normally indication that opposite move will occur, usually very strongly. Notice that so far, we can see a price coming nicely out of a wedge so we should be aware of a higher prices, but possibly after intraday set-backs. Many times you will also notice that after an ending diagonal is finished, price will retrace back to the starting point of the pattern which in our case is at 0.8720. Trade well! 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
AUD/USD NEW YEAR GIFT A perfect set up is being displayed in the AUD/USD chart The set up started more than a year ago in July 2020. Forming a head and shoulder with almost identical shoulders. Everything in the set up has been going perfectly, this pattern is also obvious in the weekly chart. It is typical for the bars to re-test the neckline which adds more credibility to the pattern. Just as planned, the price is flirting with the neckline, Monday's bar should confirm the rejection. (Remember, wait for a clear rejection, ie bearish engulfing or similar) If price breaks above neckline, it will be a bullish sentiment. The RSI further confirms it, to me it looks more like a retracement rather than a divergence. Although there is a support region around 0.7000, it does not seem significant given the strength of the pattern. (18 months) Trade profits a great 6:1 ratio (TP/SL). The TP is obtained by projecting the height of the head from the neckline and reflecting it downwards. Set the stop-loss slightly above the neckline to weather any spikes from news. It is rare for such perfect set ups to be present in the daily and weekly charts. Don't miss in. In addition to the technical analysis, the Aussie dollar looks sluggish due to the economy and current relationship with China. Happy trading and share your comments! :)
Short
by UnknownUnicorn7338697
13
GBPUSD set for further decline Starting this year, a declining channel has been set up as seen by the maroon coloured lines. In Dec, we broke below this channel displaying a more bearish sentiment. A very strong support lies around 1.31836, this is a multi-year support/resistance from 2017,2018, 2019 & 2020 Firstly a retest and rejection of the channel will be a great first indication of further bearish movement. Secondly, a clear break through a multi-year support will confirm the downside. First TP ( 2:1 ratio) will be around 1.29388 as there is a strong weekly support, to be catious close half of your position around if candle shows long wicks (weakdness) Second TP (4:1) will be around 1.27137. There is a very strongly weekly support around this region. Set stop loss just slightly above the channel as show, after first TP move your stop loss to slightly above 1.29388. All charts, daily, weekly and even renko charts display a bearish sentiment. Trade easy and simple with good risk to reward ratios. I do not sell any signals, just a retail trader that enjoys trading.
Short
by UnknownUnicorn7338697
4
Elliott Wave Analysis: LITECOIN Bears Are BackHello Crypto traders! Today we will talk about Litecoin (LTCUSD), its price action from technical point of view and wave structure from Elliott Wave perspective. LTCUSD sharply declined in May, which we see it as part of a leading diagonal in wave A, but it can be also counted as a five-wave impulse from the highs. Anyway, the most important is recent recovery from July's lows, which we see it as an (A)-(B)-(C) correction within wave B that has stopped exactly at golden 61,8% Fibonacci retracement, which is actually ideal resistance. Well, if we respect current sharp decline, seems like wave B correction is completed and wave C already underway, which can send the price back to July lows and below 100 level before bulls potentially show up again, so carefully now at the end of the year. 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.
BITFINEX:LTCUSDShort
by ew-forecast
1
Bearish Looking COINBASE May Have An Impact On The Crypto MarketHello traders and investors! Today we will talk about COINBASE, its price action from technical point of view and wave structure from Elliott Wave perspective. When COINBASE was listed back in April, we have seen a massive decline by five waves, which in Elliott Wave theory suggest first leg "a". At the same time, Crypto market was also down. Well, from May lows COINBASE made a three-wave (a)-(b)-(c) corrective rally in wave "b" right into golden 61,8% Fibonacci retracement, where we also see a nice resistance from previous wave (ii) swing high. As you can see, COINBASE is now sharply down again, which indicates that wave "b" is completed and wave "c" underway which can send the price back to May lows. If we consider that COINBASE is a Crypto exchange and that is quite nicely correlated with Crypto market, then we will have to be very careful with Cryptos in December, so watch out for a sell-off at the end of the year. 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.
NASDAQ:COINShort
by ew-forecast
4
Elliott Wave Analysis: BNBBTC Is Looking For Wave (C)Hello Crypto traders! Today we will talk about BNBBTC pair, in which we see very nice and clean EW pattern. If we take a look on BNBBTC daily chart, we can clearly see it unfolding a bigger, higher degree (A)-(B)-(C) correction. Currently we can see it trading in final stages of an A-B-C pullback within wave (B) that can be followed by another sell-off within wave (C), similar as in May 2021. So, if we are on the right path, then Binance coin may see limited gains and could turn down anytime soon, which can send the BNBBTC price down to 0.0065 - 0.0040 support zone before bulls show up again. 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.
Short
by ew-forecast
2
DAX Sells-Off As Markets Are In Risk-Off SentimentHello traders and investors! Markets are in risk-off mode as the media is spreading fear about the new covid variant. But everything is maybe just too pessimistic if we consider there are no deaths and no hospitalization for a new variant! However, markets do not like uncertainty so we are seeing a sharp sell-off on stocks, even commodities are coming down which is making a dollar, jpy and chf very strong. DAX is coming down but into some support at around 15k with five waves down, so rally can be coming in three waves. Resistance is at 15500/15450, where a new sell-off may show up, but only once we have an a-b-c rally. All the best! 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
Emerging Markets Indicates Deeper Correction On StocksHello traders and investors! Today we want to show you an interesting chart with clear Elliott Wave pattern suggesting deeper correction, which may have an impact on stocks across the globe. We are talking about Emerging markets (EEM), where we clearly see a completed five-wave cycle from March 2020 lows following by bigger and deeper (A)-(B)-(C) correction. As you can see, after we noticed a bearish triangle pattern in wave B), we can now see it breaking even lower, ideally for wave (C) that can send the price down to 42 support area. If that's the case and EEM goes sharply and impulsively for wave (C) then be aware of a bigger decline on stocks now at the end of the year. Trade and invest 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.
AMEX:EEMShort
by ew-forecast
2
Elliott Wave Analysis: AUDNZD With Bullish SetupHello traders! Today we will talk about AUDNZD currency pair, where we see quite clear bullish EW pattern. As you can see, AUDNZD made a five-wave impulse from the 1.0280 lows, which is first leg of a minimum three wave recovery. We know that after every five waves, a three-wave A-B-C corrective setback follows and we can see now a completed A-B-C corrective decline nicely connected within channel range. Well, with current rebound by five waves and back above channel resistance line, seems like AUDNZD is ready for third leg up, which can send the price at least back to October highs and 1.06 - 1.07 area, just be aware of short-term intraday pullbacks. 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.
Long
by ew-forecast
1
Elliott Wave Analysis: AUDJPY Is Looking For Wave 5Hello traders! Today we will talk about AUDJPY pair and its quite clear Elliott Wave pattern called bullish impulse. Bullish impulse should be seen by five waves and as can see, AUDJPY looks to be trading in wave 4 correction with perfect 83.00 psychological support and with equality measurement of waves 2=4, right at the channel support line, from where we should be aware of another rally back to highs for wave 5 with room even up to 87 - 89 target area. To confirm our view, it would be nice to see a recovery back above 84.60 bullish confirmation level, however, any bigger decline back below 82.00 level would invalidate our wave count. 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
3
Elliott Wave Analysis: USDNOK Is Unfolding Three-Wave CorrectionHello traders! Today we will talk about USDNOK pair, its price action from technical point of view and wave structure from Elliott Wave perspective, as we see quite clear pattern. USDNOK made a five-wave bullish impulse from the lows, ideally as part of first leg (A), which has been followed by a three-wave A-B-C setback in wave (B). Well, now that is breaking back above channel resistance line, seems like wave (C) is already in progress, which can push the price up to 9-10 resistance area before bears show up again. So, be aware of more upside in upcoming days/weeks, just be aware of short-term intraday pullbacks. 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
3
Bearish Looking 10Y US Notes Can Push USDJPY HigherHello traders! Today we will talk about 10Y US Notes and its negative correlation with USDJPY. 10Y US Treasury yields keeps pointing lower, as we see a bearish triangle formation within wave 4 correction that can send the price even lower for wave 5. If that's the case, then respecting correlations, USDJPY can see more gains for wave 5, as we also see a bullish triangle pattern within wave 4. As you can see, triangle, a continuation pattern can be approaching the end, as we see the final subwave "e" in progress, so ahead of NFP report, be aware of that final 5th wave before we will see reversals. 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.
CBOT:ZNZ2021
by ew-forecast
2
Elliott Wave Analysis: USDCAD Has An Unfinished Five-Wave DropHello traders! USDCAD came nicely down on the 4-hour chart with extended and strong drop from 1.2774, which has characteristics of wave 3 rather than C as the pair also moves very close to the typical 161.8% extension level. As such, we are aware of more weakness after the current consolidation that looks like wave 4, which can be a triangle or maybe more complex recovery to 1.2450 - 1.2500 for 38,2% Fibo. retracement, but in either case, we think that sooner or later bears for wave 5 will resume towards 1.22 - 1.21 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.
Short
by ew-forecast
4
Elliott Wave Analysis: SILVER Is Finishing Expanded FlatHello traders and investors! Today we will talk about silver, its price action from technical point of view and wave structure from Elliott Wave perspective. Well, we are tracking two different interpretations on silver, but what is interesting is that both scenarios are bullish. This is definitely very important for investors, while traders should be patient. As you can see, we are tracking a big A-B-C irregular expanded flat correction, where wave C looks to be ending diagonal (wedge) pattern, the only question is either wave C is finished or still in progress. Now that silver is trading at September highs, we still have to be aware of a retest of September lows and 21-20 support area, but any strong continuation higher towards 26 area would be definitely signal that ending diagonal within wave C is completed and bulls back in the game. All the best! 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.
OANDA:XAGUSDLong
by ew-forecast
1
Elliott Wave Analysis: EURNZD Remains BearishHello traders! Today we will talk about EURNZD currency pair in which we see nice and clean bearish impulse in progress with room for more downside pressure, while it's trading within channel range. As you can see, we are tracking a higher degree wave (3) that can push the price much lower, especially if we consider an extended wave 5 of (3) with room down to lower channel support line and 1.58 - 1.55 area. So, be aware of more weakness this year, just watch out for a short-term pullback in subwave "iv". 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.
Short
by ew-forecast
Elliott Wave Analysis: Ripple Is Eyeing 1.5 - 1.7 AreaHello Crypto traders! Today we will talk about Ripple - XRPUSD, its price action from technical point of view and wave structure from Elliott Wave perspective. We have to respect that Ripple looks quite bullish after it unfolded five waves up from June to September. However, we still see it as a wave A of a three-wave A-B-C rally, so after nice and clean pullback in wave B, seems like XRPUSD is ready to continue higher for wave C. And, because wave C is a motive wave, we can expect a new five-wave bullish cycle that can easily send the price back to September highs and 1.5 - 1.7 area. As you can see, currently it can be forming a nice bullish setup with subwaves (1) and (2) that can be now ready for a jump into wave (3), but only if the price manages to stay above 0.85 invalidation level! 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.
BITSTAMP:XRPUSDLong
by ew-forecast
4
Elliott Wave Analysis: CADJPY Remains Bullish - UpdateHello traders and investors! In this article we want to update our previous CADJPY chart, where we mentioned and highlighted a completed W-X-Y correction and bullish reversal. As you can see, CADJPY is trading nicely and impulsively bullish as expected long time ago and the main reason is also a rally on Crude oil. We see room for more gains within an extended wave »v« of 3 which can push the price even up to 92-93 area or higher, just watch out for a pullback in subwave (iv) of »v« or higher degree wave 4, as we see it approaching June highs. 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.
Long
by ew-forecast
1
Elliott Wave Analysis: NZDJPY Is Looking For The 5th WaveHello traders! Today we will talk about NZDJPY pair, its price action from technical point of view and wave structure from Elliott wave perspective. As you can see NZDJPY is trading bullish, ideally within a five-wave impulse from the March 2020 lows, mainly because of current slow price action and corrective wave structure with perfect support at the 50% Fibo. retracement of wave 3 that belongs to wave 4. Well, we believe that there can be room for more upside within wave 5 to complete a five-wave cycle before we will see bigger and deeper corrective decline, especially because of recent break above channel resistance line, so watch out for a continuation higher towards 82-84 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.
Long
by ew-forecast
1
Elliott Wave Analysis: Crypto Market Is Looking For Another DropHello traders and investors! Crypto market made sharp and impulsive decline from the highs after a completed 5th wave as we have been warning about in the last couple of months. So, we ideally see it as part of the first leg "a"/"i", which means that current rally should be as part of an (a)-(b)-(c) correction in wave "b"/"ii" that can find the resistance here around 61,8% - 78,6% Fibonacci retracement and from where we can expect a continuation lower within wave "c" or maybe even wave "iii". 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.
CRYPTOCAP:TOTALShort
by ew-forecast
4
Elliott Wave Analysis: ZOOM Could Become Attractive AgainHello traders and investors! Today we will talk about single stock ZOOM, in which we see pretty nice and clean pattern. As you can see, ZOOM made quite big decline since October 2020 till May 2021, lost more than 50%, but it looks like a three-wave a-b-c correction within a higher degree wave 4, especially if we consider recent strong and impulsive bounce from the projected support zone, which confirms a completed correction within uptrend that can send the price back to highs for wave 5. Furthermore, we can currently see a nice three-wave (a)-(b)-(c) setback of a lower degree which may belong to a subwave "ii" of a higher degree wave 5. So, if ZOOM manages to recovery back above 400 region once again, then we can easily expect a bullish continuation back to highs, probably within a new five-wave cycle for wave 5. What is also important to mention is that holidays nearing the end, so schools and everything else start in September which means that there will definitely be more demand for ZOOM. In case if the price stay slow and sideways, we can also consider a bigger bullish triangle pattern, so bigger and longer consolidation within that higher degree wave 4 correction before we will see a continuation higher. 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.
NASDAQ:ZMLong
by ew-forecast
1
Elliott Wave Analysis And Correlation Between OIL and CADJPYHello traders! Today we will talk about Crude oil and its positive correlation with CADJPY currency pair. As you can see, Crude oil and CADJPY are in tight positive correlation and both made a complex W-X-Y corrective decline from the highs with nice and strong support from April/May. The main reason why they are correlated is because Canada has one of the largest OIL reserves, that's why CAD is strong when OIL is up. If we also consider risk-on sentiment, where OIL is bullish and JP yen currency bearish, then we get that result. Well, respecting the price action and wave structures, with current strong and impulsive rebound, it looks like a correction within uptrend can be completed and we can expect further rally at least in three waves, so more upside can be seen after a short-term pullback, maybe even back to highs. 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.
Long
by ew-forecast
2