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Elliott Wave

GOLD → Resistance Retest. False breakthrough?FX:XAUUSD lingers inside the consolidation and channel 2660 - 2615. Technically, speculators are confused. The fundamental background is mixed. What's next? Focus on the escalating conflict in Syria, which has led to the overthrow of the Assad government and the end of the long-running Civil War. Risks regarding the Middle East are still quite high despite the ceasefire between Israel and Lebanon. Fundamentally, despite Friday's better than expected NFP, markets are 80% likely to expect a 0.25% Fed interest rate cut. In the week ahead, all eyes are on economic data such as CPI and PPI. Technically, I don't see any reason for the price to break out of this consolidation. Accordingly, I expect a false breakout with a high degree of probability. Resistance levels: 2655, 2660, 2667 Support levels: 2636, 2615 The price has passed 0.85% since the opening of the session. There are no reasons for the resistance breakout. There is also no potential for a breakout. Accordingly, based on the available data, there is a high probability of a decline from the key resistance zone. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
27
Alikze »» SUSHI | Reverse head and shoulders pattern🔍 Technical analysis: Reverse Head and Shoulders Pattern - Reversal Motivational Wave - According to the analysis presented before , after filling the FVG gap, wave 3 continued up to the 0.47 range of the 100 Fibo zone. - After creating demand in the range of 100 Fibo, it has encountered a motivational wave. - It is currently in an uptrend, which has faced a temporary correction after breaking the supply zone. Due to the upward trend, it can encounter the bottom of the channel and meet the demand again and continue its upward trend until the next supply area. - This upward trend can continue in the range of 1.56. 💎 Therefore, by breaking the supply area (red box) and after pulling back to it, it can continue its ascent to the next supply area. ⚠️ Note: In addition, if this modification touches the "Invalidation LVL" area, the ascending scenario will be invalidated. ⚠️ »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:SUSHIUSDT
Long
by alikze
6
Gold H1 (XAU/USD)The 1-hour XAU/USD chart reveals a potential corrective Elliott Wave (A-B-C) pattern following a completed (W-X-Y) structure. Expected Corrective ABC Pattern: Wave (A): The initial decline is anticipated to target the $2,605-$2,620 support zone. Wave (B): A minor retracement is expected to occur, likely staying below the $2,662 resistance level. Wave (C): The final wave may extend the decline towards the $2,560-$2,580 lower support zone. Key Levels to Watch: Resistance: $2,662 Support Zones: Middle support: $2,605-$2,620 Lower support: $2,560-$2,580 Keep an eye on the evolving market conditions and adjust your trading strategy accordingly. Good luck!
TVC:GOLDShort
by me22_
1
Gold's Battle: EW Analysis Points SouthGold is waging a battle to clear out short positions before a major decline. The news about China's gold purchases appears to be part of this strategic market manipulation. According to Elliott Wave Theory, the 4th wave must exhibit an ABC structure, and we haven't yet observed a clear C wave formation. Therefore, we should anticipate a downward movement, using 2721 as our invalidation level. Currently, the C wave's second wave is nearing completion. Under these conditions, the minimum target zone for the decline lies between 2450-2400.
FX:XAUUSDShort
by ewturk
XAUUSDElliott Waves must be proportional in both price and time. This means that the wave patterns within the Elliott Wave Theory—whether they are impulse waves or corrective waves—should maintain a degree of proportionality to align with the theory’s principles. For example: Price Proportionality: The lengths of waves often adhere to Fibonacci ratios (e.g., wave 3 is commonly 1.618 times wave 1 in an impulse wave). Time Proportionality: The duration of each wave should also exhibit a sense of balance, though time is typically less rigid compared to price. This proportionality helps traders identify and confirm wave patterns accurately in market analysis. Based on this theory we can learn that from the higher degree waves, the formation of wave (3) might still be in form to be completed at the projected level. While at the same time, the correction of wave (3) to form wave (4) may be expected as an alternation for wave (2). So we are either in for a longer correction to wave (4) or wave (3) is not yet complete.
OANDA:XAUUSD
by wmasehlele
Tesla At $400; More Gains After PullbackHey traders, hope everyone is doing well. Today, I will looking at Tesla stock, which as you know has impressive gains for the last few weeks, due to speculation surrounding Trump's US presidential election win and connections with Elon Musk. This has fueled expectations of easier regulations for self-driving Tesla cars. But loking at the structure, the current rally from 340 appears to be coming out of a triangle and has now reached the 400 area. Its the key swing high from 2022 and 2021, suggesting the potential for a pullback in the coming weeks. So I think its better to wait for the next wave (4) retracement rather than chasing the market at these levels. If a wave four pullback occurs, support could be found between 311 and 350, especially if the decline unfolds in three waves. GH
NASDAQ:TSLA
by ew-forecast
1
NVIDIA appears to be approaching the completion of the fifth NVIDIA (NVDA) Chart Analysis NVIDIA appears to be approaching the completion of the fifth subminuette wave within wave 3 (yellow). This aligns with a smaller impulsive wave structure, signaling a potential short-term peak in this cycle. Expected Movements: • Wave 4 Correction: After completing this fifth wave, a corrective wave 4 could emerge, retracing part of the recent bullish move. This correction would likely establish a base for the next rally. • Grand Supercycle Wave III (Red): Following the wave 4 pullback, NVIDIA may restart a new cyclical 5-wave bull pattern within the grand supercycle wave III. This structure represents long-term bullish potential. Key Levels to Monitor: • Support and resistance levels during wave 4. • The formation of wave 5 for potential continuation or divergence.
NASDAQ:NVDA
by ProeToroInvestor
JASMY chart appears to be completing an initial five-wave structThe JASMY chart appears to be completing an initial five-wave structure from its lows set in December 2022, a pattern that aligns with Elliott Wave Theory. This pattern suggests the current move is a primary impulsive wave, indicative of the start of a larger trend or a significant counter-trend rally. Current Situation: • Fifth Wave Target: The ongoing fifth wave is expected to reach the $0.70-$1.00 region, marking the conclusion of this impulsive phase. • Corrective Phase Expectations: Following the completion of the fifth wave, a sizeable correction is anticipated, potentially retracing to the Fibonacci levels: • 38.2% retracement: Around $0.25. • 61.8% retracement: Around $0.10, depending on where the fifth wave ends. Key Considerations: • If the fifth wave demonstrates strength, it could overshoot expectations, possibly invalidating this range. • The subsequent correction would likely align with standard corrective patterns (zigzag, flat, or triangle), providing entry opportunities for long-term positions.
by ProeToroInvestor
DOGE → Consolidation ahead of rally to ATH $0.7400BINANCE:DOGEUSDT is taking advantage of the hype moment and is consolidating after a strong rally. The trigger for rally continuation is the area of 0.45 - 0.46. The coin has all chances to reach ATH Despite bitcoin speculation, a 10% drop in bitcoin, the main reason for which is profit-taking, doge continues to consolidate and does not react to the market noise. The big player interested continues to buy in the hope of continued growth. Technically, an ascending triangle is forming on the 4-hour chart and consolidation above MA-50, which indicates a rather strong interest from the buyer Resistance levels: 0.45, 0.463, 0.48 Support levels: 0.422, 0.400 Since the price is still inside the pattern, I don't exclude the possibility of retesting MA-50 or one of the key supports before further growth. But the break of the key resistance will be the reason for further rally towards ATH Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:DOGEUSDT ;) Regards R. Linda!
Long
by RLinda
47