Elliott Wave
GOLD → Consolidation before a strong move...FX:XAUUSD is consolidating after a false breakout of resistance at 3365, awaiting economic data. The metal remains attractive to investors amid the economic crisis.
Gold is supported by the weakening dollar amid increased trade risks. Today, US tariffs on steel and aluminum come into force, and Trump's ultimatum to trading partners expires. Investors are also awaiting news of a possible meeting between Trump and Xi Jinping amid new accusations against China. The focus is on key employment data (ADP) and the ISM services index, which could influence the dollar and expectations for the Fed's actions.
Technically, the market may test the 3323 liquidity zone before continuing its growth.
Resistance levels: 3365, 3391
Support levels: 3345, 3323, 3303
Overall, both the global and local trends are bullish, with the price forming a local correction after a false breakout of resistance. If the bulls hold their ground above 3323-3345 after retesting support, growth may continue in the short to medium term.
Best regards, R. Linda!
Silver ready to outperform Gold? Finally, silver is breaking to the upside out of the April–May consolidation, and so far there’s been a strong push above the 33.70 resistance, and with the market closing well above that level, it confirms that bulls remain in control and could stay in charge after any near-term dips. Ideally, we are now in the third leg of recovery, which could extend beyond the October 2024 highs around 34.87. Once that level is cleared, the third leg may continue higher within a higher degree wave five, possibly targeting the 36–37 zone.
At the same time, we also see the gold-silver ratio coming down from the 61.8% area, which is another signal suggesting the metals are in a broader bull run, with silver now likely to outperform gold until those 36–37 targets are reached.
Grega
Sol, setting!? or will it rise!
In our last Solana ( CRYPTOCAP:SOL ) update, we discussed the potential for a bounce and posed the critical question: would it be a retest or a reclaim? That distinction is now front and center as price action unfolds.
The 141 area remains the level bulls must defend. A clean reaction here, ideally with a supportive pattern, would create favorable conditions for upside continuation. However, if price returns above 169 , the current impulsive structure downward would be invalidated and a recount would be warranted, that could also be the end of the correction.
Zooming out, the bigger question is whether we are in the C wave of a flat correction. If that’s the case, then this impulse Should be the final move before a change in trend. Conversely, an impulse shouldn't be taken for granted nor lightly, I could set the stage for further down side. If a C wave, this pattern could set the stage for a powerful move after it completes.
In simpler terms:
If bulls hold 141 and reclaim momentum, the structure could shift bullish quickly.
If this is a flat, the C wave down is still unfolding, and we may need to endure one more leg lower before a true trend reversal.
Either way, patience is key. Let the chart print clarity.
AUDCHF → Hunting for liquidity. Fall from resistanceFX:AUDCHF is emerging from local consolidation and entering a distribution phase. Potentially, against the backdrop of a downtrend, the market may be interested in the liquidity zone at 0.5356
Globally, we have a strong downtrend and a countertrend correction that is facing pressure in the 0.545 zone. The decline is resuming, but at some point the market formed an EQH liquidity pool at 0.5356, which is most likely acting as a magnet pulling the price towards it...
Based on the technical situation, we can conclude that if the price continues to form a distribution towards the target, the market is quite capable of stopping the price and returning to the downtrend phase.
Resistance levels: 0.535, 0.5356
Support levels: 0.5327, 0.5314
Thus, a breakout of the resistance level of 0.5356 without the possibility of continuing growth and a return of the price below the resistance level with subsequent price consolidation in the sales zone (below 0.5356) may trigger a resumption of the downward trend.
Best regards, R. Lind
EWTSU XAUUSD H4 subminuette iv update
Elliott Wave Trade Set Up H4 subminuette iv update
to confirme the end of wxy corrective pattern
price must break out definitively in an impulsive mode the 3435 level
right now submicro wave (3) looks in progress - target 3367
invalidation: first level of alarm - price under 3227
USDJPYCurrently, the price seems to be forming corrective wave (b), with a potential upward move toward the 144.78 – 145.45 area as wave (c). After that, a new bearish wave (wave 3) may begin, with targets around 141.36 and 139.03 . This analysis is based on Elliott Wave structure and Fibonacci retracement levels.
Stronger U.S. JOLTS Data Pressures EURUSD!!!EURUSD ( FX:EURUSD ) failed to break the Resistance zone($1.1487-$1.1424) and started to fall again , breaking the Support lines .
In terms of Elliott Wave theory , it seems that EURUSD has managed to complete the main wave X of the Double Three Correction(WXY) structure .
Just moments ago, the U.S. JOLTS Job Openings data was released.
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Actual: 7.39M
Forecast: 7.11M
Previous: 7.19M
The stronger-than-expected JOLTS figure at 7.39 million signals a resilient labor market. This reduces recession fears and increases the likelihood that the Federal Reserve may keep interest rates elevated for longer.
Bullish for the U.S. Dollar( TVC:DXY )
Bearish pressure could hit EURUSD, especially if it's approaching the key resistance zone.
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I expect EURUSD to start to fall again after the pullback to the Support lines and to fall to the targets I have specified on the chart.
Note: If EURUSD touches $1.14580(Stop Loss(SL)), we can expect a failure of the Resistance zone($1.1487-$1.1424).
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Euro/U.S. Dollar Analyze (EURUSD), 1-hour time frame.
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Bitcoin - 97,665 soon! Big drop on altcoins... (Buy here)I hope you sold in May and went away, as I recommended in my previous posts! If not, you probably wonder why Bitcoin is going down.
From a technical point of view, Bitcoin is breaking down out of the ascending parallel channel of the main uptrend from 74k to 112k. This is huge! Altcoins are already bleeding hard, and Bitcoin will go to 97,665 in the immediate short term. Why is this level so important? First of all, it's the 0.382 FIB level of the previous uptrend, and there is also an unfilled FVG (Fair Value Gap). This is a great level to buy Bitcoin for the next major wave to the upside.
The next strong level would be the 0.618 FIB and FVG2. These 2 Fibonacci levels are the strongest of all of them because of the golden ratio pattern and 0.618 + 0.382 = 1.000.
What we can also see on the chart is a symmetrical triangle inside this ascending channel. Usually the price wants to take liquidity above and below triangles, so be careful. There is an extremely high chance of sweeping liquidity below this symmetrical triangle. From the Elliott Wave perspective, we have finished the impulse wave 12345, and we are starting a huge ABC corrective pattern. Usually we want to look for a buying opportunity at the 0.382, 0.500, or 0.618 FIB levels.
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
EURCAD's Triangle Hints Drop AheadThe correction looks like a contracting triangle, which is a common pattern in Elliott Wave theory. This kind of triangle usually forms during wave B or wave 4. It includes five smaller waves labeled A, B, C, D, and E, which move within two sloping lines that get closer together. There is also a demand zone marked in red on the chart.
Triangles often show a pause in the market before the price continues in the same direction as before. In this case, the triangle suggests that once wave E is complete, the price may drop again to finish wave C. The expected target area is between 1.54900 and 1.54320. This outlook remains valid as long as the price stays within the correction channel.
Kotak Bank – Structure Speaks, Are You Listening?Kotak Bank appears to be in the final stages of a WXYXZ complex correction on the weekly timeframe, with a zigzag pattern unfolding in Wave Z . A rejection from the 2301.90 zone has initiated a clean 5-wave decline, setting the tone for the final leg of the corrective structure.
This analysis combines high-level structure from the weekly chart with internal confirmations from the daily timeframe.
Weekly Chart Highlights
Wave W completed at 1631.00.
A rally into Wave X followed, peaking around 2064.40.
Wave Y took the form of a contracting triangle, breaking down to 1543.85.
From there, a sharp rally into 2301.90 formed Wave X2, failing to extend impulsively — suggesting corrective nature.
The decline from X2 is forming a potential 5-3-5 zigzag, labeled as Wave Z.
Fibonacci projection for Wave C of Z lies between 0.618 (1863.65) and 1.0 (1592.75) of Wave A.
Invalidation level: A price move above 2301.90 invalidates the Z wave scenario.
Daily Chart Observations:
The internal structure from the 2301.90 top shows:
A 5-wave decline in Wave A, ending with a clear ending diagonal in the 5th wave.
This suggests exhaustion and a likely short-term bounce.
Wave B is anticipated as a 3-wave corrective rally, targeting:
0.5 retracement at 2168.05
0.618 retracement at 2199.65
A final 5-wave decline from there would complete Wave C and conclude the larger Wave Z.
Conclusion
Kotak Bank is potentially in the final zigzag leg (Wave Z) of a larger WXYXZ correction that has been unfolding for over two years. With multi-timeframe confluence and a clean internal structure, the path forward suggests a short-term bounce followed by one last leg down.
This setup offers high clarity for both short-term traders and long-term positional analysts awaiting the completion of a Wave 4 before a possible Wave 5 rally.
Price action will be updated as chart evolves.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Gold Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 3,330 zone, Gold was trading an a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 3,330 support and resistance zone.
Trade safe, Joe.
USDJPY Potential DownsidesHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 143.200 zone, USDJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 143.200 support and resistance area.
Trade safe, Joe.
USDJPY Short: Update to wave counts and stop lossThis is a follow-up to my USDJPY short earlier. In the previous video, I mentioned that USDJPY can retrace up to start of wave 1 (144.41) but propose a tighter stop. You would have been stopped out if you had used that stop. But right now, you will be able to enter the short at a better price and set a proper stop that will invalidate the EW count.