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Correction

BOIL hit the boiling point FridayInvesting, investing, Let's put our money to work! Buying stocks and bonds and funds, For our future we will perk! BOIL, and natural gas in general spent what seems like forever capitulating. There was just too much supply but I expected demand will increase which would drive up the price of natural gas. Supply and demand are the main drivers of commodity prices as they determine the amount of a commodity available and the level of desire for it. When supply is low or demand is high, prices tend to rise, while excess supply or low demand can lead to price drops. When news broke this morning, the price dropped 20% and we landed -20%+ at EOD Monday. If you look at the daily wave master (not pictured), you will see that there is significant chance that this little trooper will drop more. What is more important is that the move looked like it finished after a 60%+ move from the lows backon Frbruary 21st. Now, we wait. Lets see if BOIL and Natural Gas make new lows or if we'll find some support. Need patience on this one.
AMEX:BOIL
by bitdoctor
7
USDCADUSDCAD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
3
EURJPY - Top In Place! Catch This BIG Swing!EURJPY recently completed an ending diagonal where we had a truncated 5th wave. Now that we have the top in place, we can look for shorting opportunities below "The Top". Please note that we could be making a complex ABC correction for wave 2. If we do, we'll have another chance to catch the move down from the place indicated on the chart. Trade idea: - Watch for breakdown of the current correction - Entry on break of red trendline - Stops above correction. Safer stops above "the top" - Target the recent lows 138 (700pips) Goodluck and as always, trade safe! Possible complex correction:
by WicktatorFX
3
NZDJPY, Retracement to gain momentum for buyersNZDJPY is looking to continue its growth after a short term retracement retesting the 84.50 level. As you can see price has created multiple higher lows indicating a bearish run may not be likely at this moment. Price impulsively broke out of the upper trendline of a reversal structure surpassing previous highs which we should see further upside after a short pull back. Be patient with your entry, ensure your criteria for entry is met. Thanks Trade Safe
Long
by ktlfx
2
$BTC topping out to correction before BULLs take over againOn todays chart we have defined the major waves that are creating the $BTC fluctuations. The strongest wave is 20W (140D) according to a great tool "DFT - DC Period 8-50 - John Ehlers " . We have drawn this cycle on the chart along with its harmonics, which clearly synchronise with the main wave. From the analysis we expect now a final rise lasting to 25-27th of February 2023. After that we should see little stabilisation for one week, then followed by stronger correction between 6-20th march 2023. The drop will be significant however we are still on the rising trend of the major 20M (80W) so after 20th of march we should get into new highs.
BITSTAMP:BTCUSD
by bartekhl
USDCHFUSDCHF has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
2