Elliottwaveretracement
Nas100 #Elliot_wave_analysis notice on the chart. price has completed the 5 impulsive move and is making a zigzag of ABC.price is currently on a zigzag formation of an ABC chart pattern . Wave A, and be are already in place, we wait to see price end wave C at the 50% retracement level of the trend to continue upward move.. thank you and trade cautiously.
GBP/NZD ShortWe expect this to be the trade of the week as well as NZD/CAD. Our fundamental bias on this pair is tilted to the upside. we expect NZD strength due to the interest rate hike circle they are on. Market is expecting the RBNZ to raise rates tomorrow and our bias is negative for GBP since we expect the BOE to disappoint the market and leave rates unchanged.
Bitcoin possibilityNot so much a reason to sell unless you have risk bought everything above 56k
the size of wave B is close to 105% the size of the A wave - if we flash crash hard enough , what has been building as a wave 3 of 5, will just be 5,3,5 zig zag representing a throwover B wave.
This type of ABC would be a running flat or an expanded flat if C falls further the end of A ... which would bring us to like 20k
Leaving some buy orders around the golden ratio would seriously not be a bad idea as you could essentially add a 1/3rd to anything you get
target is still 150K+ ... much higher if we go to the .618 FIRST
USDCNY Developing a 1-5 Elliott Impulse Wave PatternThe price action of the USDCNY continues to be developing a major 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory. Given the declining bearish momentum in the short term, as underpinned by the MACD indicator, a pullback to the 61.8 per cent Fibonacci retracement level at 6.4156 is likely to ensue next.
This would serve as the second retracement leg (3-4) of the Elliott pattern. A potential reversal there would then underpin the likely beginning of the third impulse leg (4-5).
Bears can look for an opportunity to sell there on the expectations for a subsequent dropdown to the previous swing low at 6.3570.