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Elliottwaveprojection

GOLD → The XAU is accelerating and the dollar is standing stillOANDA:XAUUSD is forming a rally to 1920, which is what I have been talking about for a few days now. At the moment, while DXY is in consolidation near an important level and does not give signs of falling or rising, we see a violent reaction in gold XAU goes beyond this consolidation and forms a retest of 1919 resistance followed by a false breakdown. But on the background of a strong market, a weak technical pullback is formed and the price goes back to the resistance retest and breaks it, updating the local high to 1921. There are several important levels marked on the chart: support at 1919 and the next support at 1914. Consolidation of the price above 1919 will form a setup for opening long positions, which will allow to hold trades until 1930. 1932. If the price will form a pullback and form a consolidation below 1914, in this case we should expect the price to decline to the previously broken consolidation boundary. Pay attention to the dollar index, it is still consolidating above 103. A fall below this level will give a strong rally for the XAU Support levels: 1919, 1914 Resistance levels: 1921, 1924 I expect a predictable reaction from these levels, it is important to wait for a signal confirmation in the market and only then open trades. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
19
Bullish Momentum Unfolds: Elliott Wave InsightsHello Traders, Here is my analysis of USDJPY. From an Elliott Wave Theory perspective, below is my intraday interpretation of price movement: The price action that began on August 17th at 146.555 during the Asian session is interpreted as the initiation of a corrective phase within a larger trend. This correction took the form of a zigzag pattern, which is a common structure in Elliott Wave Theory. The completion of this zigzag correction occurred on August 18th at 144.928, marking the termination of the corrective wave. Following the completion of the correction, the price displayed a sequence of 5 smaller motive waves to the upside. It's worth noting that the fifth wave in this sequence was truncated, meaning it did not exceed the high of the third wave at 146.403. The collective movement of these smaller motive waves constitutes a larger degree wave 1, representing the initial impulsive movement within the current Elliott Wave cycle. Subsequently, a smaller degree zigzag correction unfolded within the framework of motive wave 1, and this correction occurred during another Asian session. Anticipated retracement levels for this corrective move are projected around 145.67 and 145.499, respectively. This corrective phase will contribute to the formation of a larger degree wave 2. My overall projection is bullish. The price targets for the anticipated upward movement are identified as 146.990 for the conservative target and 147.911 for the medium-term target. However, this bullish outlook would become invalid if the price were to breach the level of 144.928. Cheers and happy Trading.
Long
by Samuel124
CADJPY → Ascending triangle. Waiting for a breakthrough FX:CADJPY is forming a local upward trend. The currency pair is gaining resistance at 108.12 and forming an ascending triangle, most likely we will see some development in the near future. The currencies are weakening on the background of fundamental and geopolitical nuances, but the currency pair is getting stronger, overcoming one of the key levels at 107.6. Globally, CADJPY is in a bullish trend, but for the last few weeks the price has been stopping and forming a flat. Within the flat we see prerequisites for further growth. Earlier, the SMAs were tested, which now act as support. Resistance levels: 108.12 109.47 Support levels: 107.6, pattern support According to the mentioned prerequisites, I expect a retest of the figure resistance with further breakout and growth to the mentioned resistance. Regards R. Linda!
Long
by RLinda
8
BTCUSD → An impulse that scares the buyer. What's next? BITSTAMP:BTCUSD is breaking the 26700 support and MA-200 forming a strong bearish momentum, but at the same time the price is not breaking the bullish channel. In terms of global outlook, the price is still in an uptrend Pay attention to the weekly chart on the left. Price is forming momentum and a strong distributive move towards the strong support at 25000. The level is important for us, has a double confirmation, the first confirmation was from the sellers side, the second from the buyer side. I think that another retest, and especially after the distributive movement, may give us either a reversal or at least a strong bullish reaction. Traders are waiting for fundamental confirmation for cryptocurrency action. At the moment it is the approval from the SEC of BTC-ETF futures applications. This will give a new breath to the market. Most likely, this movement within the uptrend may be triggered for the sake of buying the asset at a lower price before further strong growth The moving averages are acting as resistance. The market is in a correction phase. Support levels: 25000, 24819 Resistance levels: 26707, 28474, 30575 The market is in the phase of a bullish trend, a correction is forming within the upward channel on the garfish, which may end near support Regards R. Linda!
BITSTAMP:BTCUSD
by RLinda
24
GOLD → Bearish trend resistance breakout. realistic? OANDA:XAUUSD makes a false breakout amid the news. The price is testing the 1900 liquidity area. The chart set-up and pin-bar form a bullish potential On the chart we also see the strengthening of the price. Gold makes an attempt to break the bearish resistance and for a few hours the price forms a consolidation above the previously broken line. On the chart I have indicated the upper boundary at 1912.7. I think there is a chance that after a strong fall, the price may go into a consolidation or flat format. 1912 is a strong and liquid resistance and is likely to push the price back to the support, which will only confirm the flat. Our task after the breakout of trend resistance is to pay attention to strong levels to open positions for breakout, rebound or false breakout. It is too early to talk about the trend change. We are watching the price. The price is testing MA-50 for a breakout. If it happens, gold will strengthen to MA-200. Support levels: 1902, 1900 Resistance levels: 1906.5, 1911.5, 1912.7 I expect a correction to the resistance. From 1912 a pullback and retest of support is possible. Regards R. Linda!
OANDA:XAUUSD
by RLinda
22
OCEANUSDT → A break of resistance will give a 30% increaseBINANCE:OCEANUSDT forms a bottom at 0.1208 and forms a false breakout. After formation of the formation, the price rallies and goes into consolidation in the triangle format After retesting the triangle resistance on July 22, the price forms a small correction after which the price forms a pre-breakout consolidation near the upper boundary of the formation. Altcoins have been showing positive dynamics lately and most likely the breakout of resistance at OCEAN will give excellent potential. While bitcoin is forming a correction and forming a local support area, the altcoin price is updating the local high and breaking the resistance. The price is testing MA-50 and may soon test MA-200 as resistance Support levels: 0.3335 Resistance levels: 0.3605 I expect the final breakout of the triangle resistance with the subsequent strengthening of the price to these levels. Regards R. Linda!
OLong
by RLinda
10
APTOS Bulls Ready?!Aptos Token Surges on Microsoft Partnership Ahead of APT Supply Unlock Aptos with ticker APTUSD is waking up after a completed higher degree A-B-C correction in (B)/(2). Currently we can see it forming a lower degree bullish setup formation with impulsive wave 1, followed by a-b-c pullback in wave 2 that can push the price into the steepest wave 3 of a five-wave bullish cycle within higher degree wave (C)/(3). Just keep in mind that we still need broken channel resistance line decisively and 9.5 first bullish evidence level to confirm wave 3 of a five-wave bullish impulse. Bullish confirmation is above 14 level, while invalidation level remains at 3.
Long
by ew-forecast
2
DXY Is Long-Term Still BearishOne of the main reasons why USdollar – DXY may stay weak is DXY/ZN (DXY against 10Y US Notes) ratio chart. Now that 10Y US Notes is looking for a bigger recovery, DXY could easily see more weakness, as DXY/ZN ratio chart is still looking lower, but ideally once current bearish running triangle in (B) fully unfolds, which can be in final stages. With bullish stocks and while bonds are trading at potential support, there's no real reason to be bullish on USDollar, so DXY is long-term still bearish. DXY/ZN ratio chart is now at the upper triangle line for potential final subwave E of a bearish triangle in (B). Bond market recovery, may slow down the USdollar again, which can push DXY/ZN ratio chart into wave (C), but confirmation is below lower triangle line. However, of course, if USDollar will keep recovering, then DXY/ZN may face higher resistance for a flat correction within wave (B), but it’s still bearish on a higher degree time frame, so sooner or later DXY will back to bearish mode.
TVC:DXYShort
by ew-forecast
USDCAD → Range breakout. Realization of consolidation FX:USDCAD has been forming a bearish price channel for a long time. For the last few days, the price has been forming a symmetrical triangle, which is forming an attempt to change trend The price is moving out of the range on August 2. The impulse is formed on the background of strengthening of the dollar index and the price is testing 1.3370. Today such news are published as: 1) NonFarm Payrolls (Expected to decline) 2) Unemployment Rate (expected to decrease). Expectations of the news were not met earlier, the indicators are quite positive for the dollar index, which indicates a stronger economy even as fitch downgraded the US credit rating from AAA to AA+, but this does not say much in the current realities. The USDCAD currency pair is consolidating in the range of 1.3370 - 1.3320, with another retest of resistance, the level may be broken, but if the price starts a correction, it may head towards the channel boundary. Support levels: 1.3320 Resistance levels: 1.3370 I expect that on the background of strengthening of the dollar the price may break the resistance and form a movement to 1.3565, but there is a chance of correction formation. Regards R. Linda!
Long
by RLinda
18
Crude Oil Slows Down For A New CorrectionCrude oil faced strong drop and spike back in May, which can be also considered as the final leg of wave (5) of A, so we are aware of a higher degree A-B-C recovery after strong reversal up from the lows. After a completed wave A and expanding triangle in wave B, which is tricky, but still a bullish pattern that already sent prices higher, ideally within a five-wave bullish impulse into wave C. Now that came back to projected April highs for wave 5 of (3), we can see a new, higher degree A-B-C correction within wave (4) that can retest 77-75 support area before the uptrend for wave (5) resumes.
NYMEX:CLU2023
by ew-forecast
1
Aussie Can Be Finishing A Flat Correction Within UptrendOn Aussie we see very strong and impulsive first leg from 0.6459 level, which can be the first higher-degree wave (1), so more upside can be seen after current pullback in wave (2) that can be now coming to an end as an A-B-C flat correction. As long as the price is above 0.6459 level, we will remain bullish. Looking at the 4-hour chart, we are tracking a five-wave cycle, ideally wedge pattern within wave C of (2) that can retest June lows support area before bulls show up again.
Long
by ew-forecast
NZDUSD → Shake-up the support of the uptrend. Bullish potentialFX:NZDUSD forms a false breakout after retesting trend support, so we have the prerequisites for a new bullish movement. The price returns to the boundaries of the ascending channel after the support shake. Earlier, there was a shake-up of resistance, and the price fell to support. The price tests the Fibo 0.236 and forms a consolidation above this line, the support line also coincides. Consolidation of the price above this area will form a bullish potential, and in the medium term, the price may show strengthening. The global trend remains neutral, the local trend is still bullish. Moving averages may give a signal in the near term. Support levels: 0.236 Fibo, Trend support Resistance levels: 0.382 fibo, 0.6305 I expect the price to consolidate above this support area with further strengthening to 0.6305 or 0.6381. Sincerely, R. Linda!
Long
by RLinda
12
Bank Stocks Are Back To Bullish ModeBank stocks have collapsed back in March, but don't forget that markets go from pessimism (fear) to optimism (greed) and vice versa. Looking at the KBE (Bank Sector ETF) chart, we can see a completed three-wave A-B-C corrective decline after a five-wave rally, which gives us a nice bullish setup formation. So, after reaching important 78.6% Fibonacci retracement and GAP from November 2020, we may easily see bulls back in the game, especially now that is trying to break first bullish evidence level. However, keep in mind that bullish confirmation is only above channel resistance line and 50 region, while it's above the 30 invalidation level. US banks face large capital increases under final Basel plan.
AMEX:KBELong
by ew-forecast