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Elliott Wave Analysis: CADJPY Pointing To 90 LevelHello traders! Today we will talk about CADJPY currency pair which is moving nicely as expected within nice and clean Elliott Wave pattern. Well, after we noticed an A-B-C correction and strong bounce we have been warning about new rally that can send the price back to highs. Here we are, CADJPY is trading in a new impulsive five-wave cycle which looks to be unfinished and if consider minimum target of 161,8% Fibonacci extension at 90.0 level, then we will probably see more upside for wave (5). However, before a continuation higher, we may currently see a corrective slow down within (4), where ideal support would be at the previous swing high and between 23,6% - 38,2% Fibonacci retracement, actually at that trendline connected from the lows and around 88.30 - 88.00 levels. So, once a correction in wave (4) fully unfolds, we can easily expect more gains towards 90.0 level within wave (5). If you like what we do, then please like and share our idea! Trade well and 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.
Long
by ew-forecast
1
Elliott Wave Analysis: XLMBTC + ADABTC With Corrective PatternsHello Crypto traders! Today we will talk about XXX/BTC cross pairs in the Crypto market as we see interesting developments. In the previous articles we shared ETHBTC cross pair and BTC.Dominance chart which we potentially see them approaching key and strong target levels. In this article we want to show you another two examples of XLMBTC + ADABTC and why BTC may start dominating soon. Well, if we take a look on XLMBTC, we can see mostly sideways price action and corrective wave structure since January and more and more looks like a bearish triangle formation, which is a corrective and continuation pattern that can send the price back to 0.0000035 lows, while it's beneath 0.000013 invalidation level. Even ADABTC has a corrective wave structure since March. Just like XLMBTC, it can be also finishing an a-b-c correction, it's just different type of a correction called flag pattern, so here as well we can expect another reversal down back below 0.00001750 previous lows, while it's beneath 0.000032 invalidation level. All that being said, be aware of a return of BTC.Dominance that can cause even more downside pressure for XXX/BTC cross pairs soon. If you like what we do, then please like and share our idea! Be humble and trade smart! 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
1
EW Analysis: EURCAD With Bullish Setup FormationHello traders! Today we will talk about EURCAD, its price action from technical point of view and wave structure from Elliott Wave perspective. We want to show you what are best setups for trading in real time. Well, we will focus on a lower time frame, a 4h chart, where we can see nice, clean and impulsive five-wave rise from the lows, which in Elliott Wave theory suggest the bottom, at least a temporary one. Five-wave cycle has to be labeled with the first higher degree leg A/1 and we know that after every five waves, a three-wave a-b-c corrective pullback follows in wave B/2 which is usually followed by a third leg C or 3. So, it doesn't matter if we will see a bullish reversal with 1-2-3-4-5 waves up or just a corrective A-B-C movement. In both cases we can expect at least one more push to the upside. Current three-wave a-b-c corrective decline within wave B/2 looks to be unfinished, but keep an eye on golden 61,8% Fibonacci retracement, where we also see equality measurement of waves a=c, so ideal support would be in 1.4950 - 1.4900 zone. However, it's already at the former wave "iv" support, so in case of an earlier jump up above 1.5100 level, then bulls within wave C/3 would be already in play. Of course, we may see even even bigger, deeper and more complex correction in B/2, but have in mind that count would be invalited only below 1.4725 previous lows level. Traders, we hope you liked that article. Be humble and trade smart! 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
Elliott Wave Analysis: Natural Gas Looks Clearly BearishHello traders and investors! Today we will talk about Natural gas, its price action from technical point of view and wave structure from Elliott Wave perspective. We have been bearish on Natgas all the time and seems like the downtrend is not finished yet. After a big, higher degree a-b-c corrective movement at the end of 2020, ideally for wave B, Natgas turned down in an impulsive fashion, probably as part of the first leg (i) of a new five-wave cycle within wave C that can push the price back to 2020 lows. Well, after we noticed a nice bearish setup formation with waves (i) and (ii), seems like Natural gas is on the way down within wave "iii" and after recent break below strong daily channel support line, it's actually confirming the bearish trend. Currently we can see another three-wave intraday corrective pullback, ideally in subwave (ii), where support line of a corrective channel may now act as a strong resistance. All that being said, be aware of a bearish continuation in 2021, ideally and probably as part of a new five-wave cycle within wave C of a higher degree wave (V) that can send it back to 2020 lows to complete a bigger weekly ending diagonal pattern. All the best and have a great 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.
NYMEX:NG1!Short
by ew-forecast
Elliott Wave Analysis: XLMUSD Can Be Finishing 5th WaveHello Crypto traders! Today we will talk about cryptocurrency Stellar(XLMUSD), its price action from technical point of view and wave structure from Elliott Wave perspective. Well, Crypto market is in a massive rally since March 2020 lows, but we can see it nearing some interesting target levels, as we see it also approaching important period. One of them can be XLMUSD in which we are tracking the final wave 5, mainly because it's coming up out of wave 4 triangle, which actually suggest the final leg 5 before we may see bigger and deeper corrective decline. Wave 5 can be either a five-wave impulse or ending diagonal formation, so there's room for a slightly higher levels towards 0.70 - 0.80 target area, where XLM may potentially find a temporay top. What we want to say is to be careful at this stage, especially now when BTC is already at the new all-time highs and also within 5th wave, either ouf of wave 4 triangle or maybe as part of the wedge pattern. Be humble and trade smart!
BINANCE:XLMUSD
by ew-forecast
10
Elliott Wave Analysis: TESLA With Bearish Setup FormationHello traders and investors! Yesterday we shared $AAPL Apple and today we want to show you another, similar wave structure on $TSLA Tesla. As you can see, Tesla made an impulsive five-wave drop in February, which actually suggest a reversal from the top into a higher degree correction, as five-wave cycle is barely the first leg A of a three-wave A-B-C corrective movement. Well, recent recovery looks like a complex w-x-y corrective rally in wave B, which is now trading at key resistance zone here at the channel resistance line around 61,8% - 78,6% Fibonacci retracement. So, if we are on the right path and if Tesla starts sharply falling back below 700 region, then we should be really aware of much bigger sell-off within wave C that can push the price even down to 500-400 support zone. 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:TSLAShort
by ew-forecast
2
EW Analysis: Support On BTC.Dominance May Slow Down ALTcoinsHello traders! Today we will talk about BTC and its dominance from technical point of view and from Elliott Wave perspective. BTC.Dominance has quite clear five-wave impulse from January 2018 lows to September 2019 highs. Since September 2019, we can see mostly sideways price action, which we see it as a corrective structure. It's an A-B-C irregular or expanded flat correction that can be approaching the end soon, as we see it coming into strong technical support around previous wave 4 swing low and 50 level. So, we have to be aware of bounce and recovery soon, at least for a short period of time. There are two different interpretioans what may happen when BTC.Dominance bounces. Either we will see BTC extension even higher, while ALTcoins could slowly follow or we will see a big sell-off into higher degree corrections in the Crypto market, where BTC may lose less than ALTcoins. Well, looking at where BTC and ALTcoins are (in our opinion finishing 5th or 3rd waves), then we would not be surprised if Crypto market is ready for deeper corrections, which means that ALTs may lose more than BTC in a potential upcoming sell-off. If you like what we do, then please like and share our idea. Be humble and trade smart! 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:BTC.DLong
by ew-forecast
6
EW: Five-Wave Cycle On BTGUSD, More Upside After A PullbackHello Crypto traders! Cryptocurrencies are in a massive rally and one of them is also BTGUSD (Bitcoin Gold), where we see room for more gains within a five-wave cycle, we just have to be aware of a potential pullback in wave 4, which can be quite big looking at the logarithmic scale chart. Well, what we want to say is that BTGUSD remains bullish while it's trading in that EW channel and any decline should be only a temporary pause within higher degree trend, before we will see a continuation higher for wave 5. Be humble and 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.
B
by ew-forecast
Elliott Wave Analysis: APPLE Approaching ResistanceHello traders and investors! Today we will talk about Apple, its price action from technical point of view and wave structure from Elliott Wave perspective. Well, if you are familiar with Elliott Wave, then you know how useful can be when analysing the markets. We have noticed very interesting pattern on Apple, where we can see a five-wave drop from the highs in February. A five-wave reversal usually indicates for something bigger and that's why we labeled it as a higher degree wave A of bigger and deeper A-B-C correction. If recent five-wave drop is wave A, then current recovery should be as part of a three-wave correction in wave B. And we can clearly see a three-wave a-b-c movement, which is not approaching key 61,8% - 78,6% Fibonnaci retracement, where ideal resistance would be here in the 130-140 projected resistance zone. If we are on the right path, then a reversal down can be around the corner and if this happens, then we can easily expect a sell-off within wave C towards projected 110 - 100 support zone. 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:AAPLShort
by ew-forecast
4
EW Analysis: USDJPY Remains Bullish Towards 2020 HighsHello traders! Today we want to update USDJPY chart, which is moving nicely bullish as we expected at the beginning of 2021 and seems like there's room for more gains towards 2020 highs as we see an unfinished five-wave cycle. As you can see, USDJPY is in an impulsive move up, breaking even above base channel resistance line which suggests wave (3) of a five-wave cycle. So, more upside is in view towards projected Fibonacci 110.80 and 112 target levels, but probably once a current consolidation, ideally a correction in wave 4 fully unfolds. Wave 4 can be either a triangle or a flag pattern that can retest the base channel resistance line as a support before the uptrend resumes. We remain bullish as long as the price is trading above 106.20 invalidation level. Trade well and all the best! If you like what we do, then please like and share the 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
EW Analysis: XMRUSD Monero May Face A Deeper Corrective DeclineHello traders! Today we will talk about cryptocurrencies, specifically XMRUSD Monero in which we see quite clear pattern. We will talk about its price action from technical point of view and wave structure from Elliott Wave perspective. Well, if you are familiar with Elliott Wave, then you know that after every five waves, a three-wave pullback follows. And, as you can see, seems like Monero may have a completed 5th wave, especially if we consider strong and impulsive five-wave drop from the highs, which can be an indication for a deeper, higher degree A-B-C correction that can send the price back to the previous wave 4 and 120 support level. Currently, it looks like it's just in a slow three-wave (A)-(B)-(C) corrective rally within wave B that can find the resistance ideally here around 240 - 260 zone and from where we should be aware of another sell-off for wave C. Invalidation level is at 288 highs. Bu humble and trade smart! If you like what we do, then please like and share the 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:XMRUSDShort
by ew-forecast
2
EW Analysis: ZOOM Is Looking For A Deeper CorrectionHello traders and investors! Today we will talk about Zoom, its price action from a technical point of view and wave structure from Elliott Wave perspective. Zoom made a massive rise in 2020 as it was and it's still very useful app for video communications. However, nothing goes in straight lines, so we see it as a completed wave 3 and since October 2020, we can see Zoom trading in a bigger, higher degree a-b-c corrective decline within wave 4, which seems to be unfinished after recent sideways price action and corrective wave structure, ideally a running triangle pattern within wave "b". Well, with current strong decline, it looks like wave "c" is now in progress that can push the price even down to 280 - 230 support zone before we may see a bullish continuation back to highs within wave 5. All the best! If you like what we do, the please like and share the 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:ZM
by ew-forecast
2
Correction On Treasury Bonds Can Be Supportive For GoldHello traders! Today we will talk about 10Y US Notes (treasury bonds) and its correlation with gold. Well, as you may already know, treasury bonds and gold are in tight positive correlation and gold is currently down mainly because of 10Y US Notes. However, a decline looks corrective as we see 10Y US Notes trading in an A-B-C decline, while gold is in a more complex W-X-Y correction, but support may not be far away. While 10Y US Notes can be looking for a support around 132 level, gold may face strong support around 1700 level. Just please keep in mind that we need confirmations, so only if we see strong and impulsive bounce from projected support zone, only then bulls could be back in the game. All the best and trade well! If you like what we do, then please like and share the 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.
ULong
by ew-forecast
NZDUSD Has An Unfinished Five-Wave CycleHello traders! Today we will talk about the Kiwi (NZDUSD), its price action from technical point of view and wave structure from Elliott Wave perspective. We all know the Kiwi is a commodity currency and commodities are positively correlated with stocks, so because of bullish stock and risk-on sentiment, the Kiwi remains under strong and impulsive bullish pressure and it may see more gains as we see an incomplete five-wave bullish cycle. Well, currently seems like NZDUSD is just slowing down in wave 4, so we can easily expect more upside for wave 5 that can push the price even up to 0.74-0.75 area before it forms a potential top. Trade well! If you like what we do, then please like and share the 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
EURUSD Remains BullishHello traders! EURUSD was down in January, but it is a very rare case to find a peak at the beginning of the year, especially after recent three-wave A-B-C corrective decline only. Well, with current strong bounce back above channel resistance line, it seems like it's confirming bullish trend and we believe that EURUSD may retest the 1.2350 highs in coming days/weeks, so more upside is in view as long as it's trading above 1.1950 previous lows. 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
2
EURAUD Remains BearishHello traders! EURAUD is in sharp and impulsive decline since March 2020 highs, which we think it's a weekly top formation, so we can expect more weakness in coming years, but we have to be aware of pullbacks that can ideally occur around strong weekly channel support line connected from 2012 lows. Even if we take a look at the daily chart, we can see an unfinished five-wave cycle, so it can push the price even lower within wave (5) that can stop anywhere in the 1.55 - 1.50 target 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
5
USDJPY Update: Is It Turning Bullish Now?!Hello traders and investors! USDJPY is nicely recovering after we noticed a completed ending diagonal and bottom formation at 102.60 lows. The price action looks strong and impulsive now, so seems like it's unfolding five waves up from the lows that can send the it even up to 106 - 107 area, just be aware of short-term wave 4 corrections, a lower degree and higher degree. What we want to say is that as long as strong trendline connected from the lows and 104.00 level hold, we can expect more upside within a five-wave cycle. 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
2
FaceBook Is Looking For A Lower Support LevelHello traders and investors! Today we will talk about single stock FaceBook in which we see quite clear Elliott Wave pattern. If you are familiar with Elliott Waves, then you know that after every five waves, a three-wave a-b-c pullback follows. Well, as you can see FB made nice and clean five waves up from March lows and currently seems like it's trading in an a-b-c correction where wave "c" is still missing, so be aware of that wave "c" drop that can send the price back to ideal previous wave "iv" swing lows, golden 61,8% Fibonacci retracement and 205 support level and later then we can expect another bull-run, but only if we get strong and impulsive bounce down there. 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:META
by ew-forecast
1
EW: DigiByte Is Coming Nicely Lower Into Projected SupportHello traders! Despite the fact that BTC made strong and impulsive rally, it was mainly because of BTC.Dominance, but most of ALTcoins remain quite weak. As expected already 2 months ago, DigiByte is coming nicely lower within wave "c", which should be made by a five-wave cycle and it seems to be unfiished. So, keep an eye on projceted support in the 0.015 - 0.010 area, where a bigger a-b-c correction may come to an end. Trade smart! 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.
BITTREX:DGBUSD
by ew-forecast
7
Elliott Wave Analysis: OMGUSD In A Correction Before HigherHello traders! Today we will talk about OmiseGO (OMGUSD) and its price action + wave structure from Elliott Wave perspective. Some cryptocurrencies were in a massive and impulsive rise since March and one of them is also OMGUSD, in which we clearly see a five-wave bullish cycle into wave A/1 on the weekly chart. We know that after every five waves, a three-wave pullback follows, so an a-b-c correction in wave B/2 could be already in progress, which can send the price ideally back to 50%-61,8% Fibo. retracement before the uptrend for wave C/3 resumes. If we take a look on a daily chart, we can see five-wave fall from the highs labeled as the first leg "a", so current recovery can be only temporarily, as part of a lower degree three-wave (a)-(b)-(c) corrective rise in wave "b" with ideal resistance around 5.0 - 7.0 area, from where we should be aware of another sell-off for wave "c" to complete a higher degree wave B/2. And ideal strong support, where bulls may show up again, would be around the previous wave "iv" swing low and 1.5 support area. Be humble and trade smart! If you like what we do, then please like and share the 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.
OEducation
by ew-forecast
2
DAX Is Bullish, But More Gains After A Short-Term PullbackHello traders! DAX made nice and impulsive bounce from projected support after we noticed a three-wave A-B-C corrective decline, so it's turning back to a bullish mode, mainly because of recent break above trendline. However, watch out for a temporary short-term pullback to fill that open GAP, which can actually retest that daily trendline with potential support around 12300 level. In fact, if current 13300/13400 zone will also hold as a resistance, then we may see a potential inverted H&S pattern, where right shoulder is still missing. Trade well! If you like what we do, then please like and share the 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
AUDNZD SUPPORTS S&P500Hello traders! AUDNZD and S&P500 are in positive correlation, not tick by tick, but mostly they are moving together. Even when we see a deviation, they sooner or later somehow catch up each other. Well, after recent mess up and down on S&P500, seems like it remains bullish, it's just in consolidation mode before the uptrend resumes and it can be easily supportive by AUDNZD currency pair, where we see a quite clear three-wave corrective decline within uptrend. It's mainly because of strong Australian Dollar in risk-on sentiment. So, with current strong bounce on both, AUDNZD and S&P500, seems like we will probably see them back to highs in the upcoming days/weeks, especially if AUDNZD starts breaking above channel resistance line. Generally speaking, stocks remain bullish, so as Aussie in risk-on sentiment, we just have to be aware of short-term, intraday corrective pullback early next week. 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.
by ew-forecast
Bullish Looking Treasury Bonds May Push USDJPY Even LowerHello traders! Today we will talk about 10Y US Notes and USDJPY, their price action from technical point of view and wave structure from Elliott Wave perspective. As you may already know, 10Y US Notes(treasury bonds) and USDJPY are in negative correlation. So, after recent big sideways price action and corrective consolidation, the pattern is becoming clearer and clearer. Well, what we see is that USDJPY can be forming a bigger bearish running triangle formation, which can sooner or later push the price below 104 level, ideally towards 103 - 102 area, mainly because of current bounce on 10Y US Notes, which seems to have a completed flag pattern, from EW perspective, an a-b-c corrective decline, where wave "c" completed an ending diagonal. 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.
by ew-forecast
1