elliiot wave ABCABC corrective wave formation
short to 298x: sell limit 3027 stoploss 3033
Long to 3100: buy limit 2982 stoploss 2970
Elliott Wave
$SPY Bounce to 590s?Hey everyone, it's your boy pic. AMEX:SPY looks primed for a typical ABC correction to around 590 going into the second half of March. Chart lines up with NextPivot Indicator and FIB levels just as pretty as you please. Nice look with clear stops. Good luck!
“Weak Demand Signals Potential for a Lower Low”Currently, the position of NCF1! or Newcastle Coal is within wave 5 of wave (C) of wave , indicating that Newcastle Coal remains vulnerable to further corrections toward the 86.55–96.15 range, as represented by the black labels.
A similar pattern is observed in the red labels, where Newcastle Coal is also nearing the completion of wave (5) of wave .
We observe continued pressure on coal demand due to weak consumption and oversupply, as many countries are increasingly investing in renewable energy sources amid slower global economic growth.
S&P500 Short: Expecting Price to Fall back below trendlineFor this idea, there are 2 things to take note:
1. I believe the breakout to the upside to be a false breakout. Thus price should fall back into the channel.
2. The "C" wave is slightly shorter than "A" wave, but it shouldn't matter since corrective wave does not conform to the "3rd wave cannot be the shortest" rule.
If you are an active trader, you can choose to place your stop where I indicated. But if you are really more swing trader and can take wider swings, then I recommend putting stop above where the Fibonacci shows 1.
Good luck!
Nasdaq Short: Top of channelThis is similar to the S&P500 short idea. In fact, they complement each other. While S&P500 has breached the top trendline, Nasdaq hits the trendline.
Also something different from S&P500 is that the Nasdaq correction unfolds is 5 waves instead of 3 in S&P500.
Place the stop loss where I indicated and you should be fine to take one a positional short.
Good luck!
AUDCAD | Reoccurring FractalsWe're looking at 3 complete fractals and the fourth one being the current one. Same phase as the last, a bit of sideways trading/consolidation then aggressive buying breaking out to the upside.
Price action has been trending upwards with HHs and HLs and we're currently at a Lower High bouncing off the lower trendline below.
Would be ideal to look for long positions only for this setup as bulls are looking stronger from this view.
~300pips going into the 3rd wave.
SOLUSDT Elliott Wave Analysis – Potential ScenariosMEXC:SOLUSDT
📌 Current Wave Structure:
We are currently in an impulsive upward move, which appears to be Wave (3).
The recent pullback can be interpreted as an ABC correction within Wave (4), reaching nearly the 88.7% retracement level.
📌 Potential Scenarios:
1️⃣ Short-Term: Further corrective movement downward (potential Fibonacci retracement of 38-50% for Wave (4)).
2️⃣ Mid-Term: A continuation of the upward move towards the $170-$175 target zone, marking the completion of Wave (5) and possibly the entire larger structure (C).
3️⃣ Long-Term: After Wave (5) concludes, a significant corrective move could follow.
⚠️ Key Levels to Watch:
🔹 Support: $140.30 / $133.45
🔹 Resistance: $146.49 / $170.41
📊 Conclusion:
If the correction plays out within the expected Fibonacci zones, this could present an attractive long setup for Wave (5). However, a larger corrective move might follow afterward.
What are your thoughts? Feel free to share your analysis and opinions! 📉📈
NIFTY50.....Bulls are exhausted?Hello Traders,
what to say? The NIFTY50 has fulfilled all my cited price-targets.It perfectly popped to to 23807.30, a possible wave x² of a triple correction.
I have switched the count from corrective to impulsive and label it 1-2-3 (achieved) with waves 4 and 5 to follow!
Keep in mind, that wave ((ii)), which started @ 16828 @ 2023-03-20 has corrected the 0.382 Fibonacci, measured from wave ((ii)) to wave ((iii))! It also has achieved into the former wave iv of ((iii)) area, what is also a price target for this wave.
Anyway!
The new level to watch is the area of 21964.40. As long as this area is valid, an impulse is underway and the next move could be a wave ((iv)) retracement. This probably has the potential to retrace to or around 23300 range.
That's it for tonight!
Have a great week.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
EURUSD 1H forecastlooking for potential buy opportunities if price breaks above the previous high; anything below that, the market could still go down.
If you note the EU has been making lower lows for a while now, trying to buy this long-term would be trying to catch a falling knife- maybe for short-term buys, yes. The market is still in a 4th wave correction, and it doesn't show any signs of completion anytime soon, so let's just watch for now.
USDCAD 1H forecastLooking for a bearish outlook on UCAD as a potential Leading Digonal pattern, note* it can also be a 1-2 1-2 pattern.
Even if price re-prices by moving up, making all these pullbacks, the main direction is bearish.
Elliott Wave Pattern Suggests Higher EURUSD and Lower US YieldsSome nice retracement on 10-year US notes in the last three weeks looks corrective because of a clear three-wave drop with a triangle in wave (B). This suggests US yields could be trading at resistance, and if we consider the somewhat dovish stance from Powell and the FOMC last week, the market might be positioned for a lower USD. In this scenario, EURUSD could perform well—likely better than some commodity currencies, which remain trapped in sideways ranges due to weaker stock markets recently.
GH
GOLD → Tense fundamental environment and retest of 3025FX:XAUUSD is forming a correction within the descending channel. The situation is becoming complex and confusing. The focus is on the channel resistance and on the support at 3004.9. Further price movement depends on the fundamental data...
The problem is the uncertainty around the US tariff policy and the outcome of talks between Russia and the US on ceasefire in Ukraine.
The market is focused on US consumer confidence data and comments from Fed officials. The rise in the dollar, supported by Bostic's hawkish statements and strong PMIs, is pressuring gold, but the lack of clarity on tariffs and geopolitical tensions are limiting its further decline
Technically, the situation is simple in that it all depends on the resistance of the current channel. A break and consolidation above 3025 will trigger growth. A false break of the channel resistance will provoke a continuation of the decline both to 3004 and to 2980.
Resistance levels: 3024.6, 3038, 3056
Support levels: 3004.9, 2987, 2981
Based on the difficult fundamental environment, which is far from any positive decisions, the tensions in the Middle East, and the tariff war, I can conclude that gold will try to strengthen once again, as we have technical support: a strong bullish trend, a strong 3004 level, and a cascade of locally rising lows.
A failed breakdown will be false and in this case, a price consolidation under 3017 will trigger a fall to 3004.
Regards R. Linda!
$SPY March 25, 20252nd Post.
This chart shows oscillator divergence in LL and 100% extension around 580.
Hence this also supports the previous post numbers of 579-580 at the moment for the day.
NEAR WXY correction completeHi.
As per my previous post, if btc is in its wave 4 position holding the 0.382 fib as possible correction complete.
We could possibly/hopefully see btc.d start dropping, setups like this on a few alts might start taking of.
We already have the DXY which is nuking, but its yet to hit the broader crypto market.
EWTSU ES1! minuette ii downside to be confirmed
Elliott Wave Trade Set Up
minuette ii downside to be confirmed
price reached strong resistence area 5810/5890
ICHIMOKU shows a buy mood in H4 - BUT kijun sen daily - 5831
EW - pull back looks corrective - abc zigzag - subminuette ii possible extention
FIB levels - 5810/5890
Volume profile - POC still remains in the upper side of the graph
monitoring development
EurNzd - Looking to Sell after 5 Waves DownEurNzd made a clear 5 waves down
We see the current move only as corrective, looking to sell from current levels to the 61.8% fib level
Invalidation level comes in at the red line
Dollar Index Outlook 1HWe're in a correction A-B-C pattern typically wave A and C are equal so we can expect further upside to complete the Zig-Zag.
Wave A is a diagonal pattern, wave B is flat, and wave C is an impulse.
BKY Monthly Chart 2BKY Monthly chart
Elliot wave corrective patterns and Large triangle, added Triangle base target estimate to possible breakout area
Likely $2.70, currently $0.425 = 630% or 6.3 reward to risk if you are willing to keep it to $0.00
Not making money but very experienced and qualified management team developing its spanish mine,
BKY has a current ratio of 31x which suggests it has large reserves circa ~$75mil as of Early 2025 suggesting it has a large reserve to convert assets into production
Meta UpdateI don't have much to add to my Meta analysis. I believe that the minor A wave is complete or only needs OML. However, with the sloppy price action that we have had lower, it is impossible to know for sure. Nothing has cause me to question the top I called at this time. Over the course of the next week or two we should know if the A wave is in fact complete. If it is, then we should be targeting the $670-$700 area for minor B completion. For more information check out my past posts on Meta. If anything is unclear let me know.
Amazon Wave Analysis – 24 March 2025
- Amazon reversed from the support zone
- Likely to rise to the resistance level 210.00
Amazon recently reversed up from the support zone between the support level 190.00 (former resistance from October), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from August.
The upward reversal from this support zone started the minor correction 4 of the active intermediate impulse wave (C) from February.
Given the strength of the support level 190.00, Amazon can be expected to rise to the next resistance level 210.00, former support from February.
EURUSD → Price is in consolidation. Emphasis on false breakdownFX:EURUSD is forming a correction within the consolidation that was formed on the uptrend. The reason for the consolidation is the halt in the movement of the dollar index...
The dollar is forming a counter-trend correction due to political and econmoic data, but the general background is bearish. But, the fall of the dollar, to which the index may soon return, may strengthen the growth of the currency pair. EURUSD consolidation within the uptrend (against the background of the dollar index correction). The zone of interest is the support at 1.078 and the imbalance area
Resistance levels: 1.078, 1.074
Support levels: 1.0936.1.1009
The price has not tested the support and is forming a correction to the imbalance zone 1.087 - 1.09 from which the price may return to the downward movement to 1.078. The emphasis is on the range support from which we should wait for a false breakdown before further growth.
Regards R. Linda!
GOLD → Long squeeze (false break of uptrend support) FX:XAUUSD within the liquidation the price is testing the key support at 3004.9 and forms a false break of support. The trend is generally bullish as the geopolitical situation remains tense and carries high risks.
Friday saw a liquidation phase relative to the consolidation at 3024-3045. Reason: the White House is expected to revise tariff policy, easing measures against key trading partners. Negotiations over the conflict in eastern Europe, where the U.S. is a key link, also support the positive sentiment. On Monday, market attention will focus on Russia-US talks, as well as preliminary PMI data that could affect the global economic outlook.
The focus is on the current consolidation and the 3024 level. If the bulls hold their defenses above this level, gold will continue to strengthen.
Resistance levels: 3045 - 3056
Support levels: 3024, 3004
The growth within the bullish trend may continue. The price is forming a consolidation between trend support and resistance at 3024. The emphasis is on 3024, if the bulls hold the defense over this zone, gold may head for a retest of the high (the initial reaction to ATH may trigger a pullback down)
Regards R. Linda!
