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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
Shiba Inu - Daily ray rejectionHello Traders and Analysts, A Note before reading - this is a forecast analysis - based upon our trading strategy. This is tagged Neutral for the short term. Long term, bullish, due to purchasing further increments upon imbalances. Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities. Note: To see more information - review the linked ideas for more crypto and through the analysis links which provide explanation's for further resources. Also to add - regarding the simplified method of the Shib Burning model, a full detailed model will be available - please contact me for further information.** Master Key for zones Blue = Monthly Purple = weekly Red = 4 Days Yellow = 16 Hours Orange = Daily Dark Green = 8 Hour Grey = 4hour Pink = 1 hour Review the full analysis below; Monthly Imbalance Thus far there is not an abundance of Data provided from brokers and platforms - further imbalances will become clearer, however with data analysed - price had immediately sold off upon listing. Creating an immediate low of 0.0000569. The identifiable formation is a cup and handle which can be more visible on the weekly and four day chart. However with an introduction of further establishment of the traction from fundamental plays where new listings occur price can adopt an established consolidation. So new entrants to the market who began immediate price action on the monthly basis begin an immediate change of hands adding buyers to a selling market from the inception. This has now created a trading rang on the following four months listed whereby 0.0000471 is the established low point forming the monthly imbalance as well as the upper range of the imbalance reaching 0.00000979. The weekly Imbalance The reason here for the half candle imbalance is provided for two reasons; 1. Being the Formation of the 50% low Fibonacci from the peak 1.00 at the introduction of Shiba Inu to the market. 2. The second reason for the 50% candle imbalance - is due to the upper 50% quartile using probability for price to retest the body of the candle for buying targets. Price did change hands from a selling market by creating three consecutive higher lows on the weekly timeframe, offering a >50% probability for buying power and long positions to be taken. Again using a fundamental backing with further adoption of users and further development of the project to become a useable token, the development through to the usage of Leash and Bone. - revert below to what is Leash & Bone. 8 Hour formation; There is a combination whereby the grey bottom correctional channel line is a 4hour line, but this as provided by the screenshot shows a clear 8hour view also encompasses the correctional channel. The channel has offered price action to move towards the upper channel boundary which will now play an important break and retest or rejection for longs as the imbalance has now formed upon the 50% high probability of a rejection of the pivot zone. Daily talk points The daily ray is intact with 3 zones of a trend rejection showing the longs are in positional play The daily close out of the correction shows that the 50% and 0.000047X is a strong psychological value which rests upon a daily and weekly imbalance zone. The lower highs being created from the wicks by looking left have offered shorts to be closed out and retested with sellers unable to provide lower lows in the market. This is a sign the trend is reversing for you support and resistance traders. Please be aware that while analysing ETH, BTC, XRP, ADA - the reversion imbalances have often tested 70.5% so expect a pullback to the weekly zone as shown below. To see further studies of this - review my other analysis'. What the top formation correction would offer at a high probable scenario The chart speaks for itself as to what occurred. Do you enjoy the setups? Professional analyst with 5+ years experience Focus on technical output not fundamentals Position and swing trades Provide updates where necessary - with new updated ideas tracking the progress. If you like the idea, please leave a like or comment. To all the followers, thank you for your continued support. Thanks, LVPA MMXXI
FTX:SHIBUSDLong
by LupaCapital
1
USDJPY I Further Correction to Support AreaWelcome back! Please support this idea with a LIKE and COMMENT if you find it useful. ***** following the daily/weekly impulse, price has now started to correct. We expect further continuation to the downside towards previous resistant/support, somewhere between the 50 - 618 fib level (which also aligns with the support zone provided). Be sure to follow the entry criteria rules for your strategy and keep this on your watch list! - BKH
Short
by BKTradingAcademy
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
2510 Wkly Outlook GBPJPY support up again from wkly supportHello traders, GBPJPY did make some small range pullback last week. But it found support again. This time, it could make a double test of gold dash resistance zone first. And new plan for breakingout or correction would really depend on the price action hitting that dash line. We would expect no selling plan before any strong double top pattern. 160 WOULD HAPPEN AFTER BREAKING OUT DASH GOLD LINE. Good luck on sideways price action first. LESS IS MORE!
Long
by FUNTRADER-Vera
AUDCAD It will rise upward Welcome back! Please support this idea with a LIKE and COMMENT if you find it useful. ***** Buyers have taken charge and managed to push price beyond rejective resistance 9200 zone. After a strong bullish impulse, we now have price rejecting off the 50% fib with a bullish flag formation. All signs point upward for another bullish wave/continuation. Where do you think AUDCAD is headed? Let us know your thoughts in the comments! Be sure to follow the entry criteria rules for your strategy and keep this on your watch list! - BKH
Long
by BKTradingAcademy
CAD/JPY Analysis - B Swing AlertWelcome back! Please support this idea with a LIKE and COMMENT if you find it useful. ***** Price is currently re-testing/rejecting Monthly resistance last tested Nov. 2015. Very strong supply zone, impulse on weekly and due for correction, and all B-Swing entry criteria rules have been satisfied for those who use this powerful strategy. Apply the fractional risk management method and use to your advantage. Comment below if you have any questions. Be sure to follow the entry criteria rules for your strategy and keep this on your watch list! - BKH
Short
by BKTradingAcademy
1