Correction
GOLD UPDATEXAUUSD is consolidating/ correcting in the form of this rising wedge formation, at the low of the wedge price has left beautiful EQL lows, in which below resides a large amount of buyers stops. Favouring the overall bearish continuation of the HTF trend here, we will be monitoring the LTF for potential entry confirmations at our zone of confluence.
IF entry rules are satisfied we will be targeting the liquidity imbalance @ 1680
NIFTY/INFER - NIFTY Indian Forex Reserve ratio saying it all!NIFTY is up & Forex Reserves are down!
2006 - 2007 after that..?
Early 2015 after that..?
2018 when MIDCAPS & SMALL CAPS started falling after that..?
What is upcoming in next 1 year?
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NIFTY/S&P ratio and what NIFTY did before!Long term view is bearish!
Key points to note -
1. Ongoing Russia - Ukraine war!
2. Highest Inflation after 40 years in most part of world!
3. FED expected to do QT to overcome inflation from September 2022!
4. China Taiwan war (US) tensions!
5. China Real Estate crisis!
6. Economic slowdown of Global markets!
What else required?
Gradually if corporate leaders start under performing to market estimates, and that'll be the last card to fall!
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Do not trade EURUSD today!EURUSD quickly came back up yesterday after the interest rates.
It doesn't give us any selling opportunities right now.
The levels where price is currently trading are considered a strong resistance and that's why buying is also not recommended.
That's why we would rather wait for a better setup and not trade EURUSD today.
Once we see the market breaking out in either direction, then we will have another chance to enter!
Ethereum Is Slowing Down: Elliott Wave AnalysisCrypto market is slowing down as stocks turned down into a risk-off and the USD rallied across the board. So even strong Ethereum is no exception. In fact, we see a drop from 2k psychological level in five waves, so the market is ideally forming an (A)-(B)-(C) corrective decline. However, nothing moves in a straight line so after the current five waves down in A be aware of a wave B rally. Resistance for a bounce is at 1700-1800.
Happy trading!
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