USD/CHF - 2 Bullish & 1 Bearish Elliott Wave PatternsThe USD/CHF made two bullish Elliott waves, and it's making the third Elliott wave, but this one is bearish. This chart is all about learning to apply the Elliot wave pattern. The first bullish Elliott wave started on the 21st of October and ended on the 23rd of October . And the second bullish Elliott wave started on the 23rd of October and ended on the 4th of November .
Now, from the 4th of November, the bearish Elliot wave started, and The fifth wave is in the still making process. ABC correction is remaining .
If you like my technical analysis on the Elliott wave theory in this chart, then like, comment, and follow me.
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US500- Get Ready-Thrust Upside Can Lead to Wave 3 DownsideFor Educational Purpose
Last Price- 3480 / 20:29 Hrs IST (Indian Standard Time) / 19th Oct2020
Wave (iv)- Penultimate wave -unfolding as a triangle then next wave should be the final thrust upside - only criteria is top @3588 should not be crossed for current wave count to be a valid count
Expecting
One push upside close to 3550/3570 to finish wave-(v) ( Crossing above 3506 highs)
Once wave-(v) done & holds below 3588 highs then we expect larger degree Wave-3 to unfold below 3588 tops
Wave 3 should travel 161% of Wave 1 distance downside giving us minimum target 3100 / 2950 later
US500- Will it drop & help India Nifty for Wave-Y? DownSP500 / US500 has been all messy & choppy -if upside rally stops in 3450-3475 then we expect down move with initial halt close to 3300 level & dropping further can take it to 2935-2950
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NASDAQ 100 - Head & Shoulder at the top-12440 High (Bearish Outlook)
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MCX Gold - Triangle Evolved into Ending Diagonal (Possible Scenario)
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India Nifty Market Commentary
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India Nifty was struggling to move above 11900 post-gap-up move & whole of the session was all up before dropping sharply in last hour might be showing its intension that domestic & global markets all may get ready for a move towards south.
India Nifty has moved up recently as X-Wave (10790 to 11905) -looks like an irregular correction & could be heading down in Wave-Y if holds below 11870/11880 zone
India Nifty -Last Idea Published
EURUSD - Preparation of terminal thrustCurrent scenario seems to be a corrective move , that too in a triangular wave structure before the currency prepare gives a terminal thrust to complete its 1-2-3-4-5 impulsive wave. As of now the price will move up & likely to face resistance near the zone of 1.18500 which will complete the wave - d of the triangular wave. After facing the resistance , the currency pair is likely to take a support near the level of 1.1800 which will form the wave - e .
After the completion of wave - e there will be another impulsive terminal thrust to complete wave (v) of 5 .
#DXY to #SP500 #SPYTVC:DXY
We are back to Chinese trade tensions with Chinese companies possibly to be delisted from the NASDAQ and Hong-Kong protests back on.
If we want to see a pullback on US indices, I am convinced this will depend on the USD. The demand and surge of it will mean pain for equities.
With that said, I can see 5 waves to the upside in micro degree to complete a corrective structure before lower lows.
Complicated to see this five wave rally breaking March highs given the count and also the undoubtable final stimulus package.
#NASDAQ keeping me bearishCURRENCYCOM:US100
Current count holds on to the possibility of a relatively short to medium term reversal.
Last move, if true, should NOT go past the 1:1 ratio of submicro wave 3.
This is to satisfy rules for a contracting ending diagonal.
Submicro waves must be 1>3>5 and 2>4.
Count invalidation at ~9640.