Elliott Wave
GOLD → Correction before a possible fall FX:XAUUSD is moving into the correction phase amid last week's economic data. The price is returning to the channel and in general confirms the bearish character on the market.
Markets are ready for a 0.25% interest rate cut, but traders are waiting for hints on the Fed's stance: whether the Fed will continue to cut rates, go into a wait-and-see mode, or hint at a rate hike based on last week's economic data. Traders are eagerly awaiting the Fed's decision, which will be announced on December 18. The gold price is also receiving support from renewed tensions in the Middle East and political turmoil in South Korea.
Technically, after the false breakout of 2721 a deep correction is forging, which generally develops into a localized downtrend. The price is approaching the panic zone 2615-2600. At the Asian session a correction is forming and it is worth paying attention to the key resistance zones
Resistance levels: 2667, 2675, 2685
Support levels: 2646, 2633
The price is heading towards the imbalance zone within the correction. A quick approach and retest of resistance could trigger a rebound. Traders may enter the phase of profit taking before strong news
Regards R. Linda!
EURUSD → Consolidation before Fed Interest Rate DecisionFX:EURUSD is in a consolidation phase, as is the dollar index. The outcome could be decided this week. Traders are waiting for the FED meeting on US interest rates
Globally the trend is neutral, but the price is consolidating near the key support that has been holding the market for two years. Aggressive interest rate cuts in Europe are putting overall negative pressure on the currency pair. The dollar may go into a downward correction if the decision to cut interest rates is made on December 17-18. But any hint of hawkish policy on the part of the Fed may strengthen the dollar, which will intensify the decline in EURUSD
Resistance levels: 1.0607, 1.065
Support levels: 1.045, 1.033
Based on interest, amid the downtrend, the price has not yet reached the key liquidity zone. Before important news, the market may reach 1.0607. But based on the technical and fundamental background, the fall may continue, and a breakdown of 1.0448 will strengthen this fall.
Regards R. Linda!
Elliott Wave Gold End-Year Update: Trend Has ShiftedGold ended it's tremendous bull run and from beginning of December started major correction.
Wave A and B of this correction is already complete and we're now expecting a tradable wave C of this correction.
DXY bullish 4HDXY is completing the Elliot 5 waves. as you can see it is already completed the waves 1,2,3 and most probably wave 4 and it is supposed to reach the wave 5 PRZ.
2 areas are defined which based on Elliot concept can be the targets for wave 5 although wave 5 movement strength need to be monitored since lack of upward movement would result in analysis fail.
Thank you for your comment and boost.
ADAUSDT Short Idea / Elliot Wave Principles / Fib AnalysisWhen analysing the market, I noticed this potential Elliot Wave setup on ADAUSDT. For a number of reasons, I suspect that this pairing is forming a good opportunity to achieve a ~5.5 R:R short.
The process taken to get to this idea is as follows:
Macro view of the support / resistance flip zone on ADA between $1.20 and $1.30.
Clean chart showing the interaction with the support / resistance zone.
Validation of Wave 1 Rules
Validation of Wave 1/2/3 Rules
Validation of Wave 4 Rules
Validation of Wave 5 Rules
Correction Wave and Short Area of Interest
DXY Range Rotation / Harmonic - UpdateHello dear traders
Here is an update to my HTF analysis on DXY, it took much more time to print the move towards the upside than i expected.
We formed a very clear 3-Wave connector (ABC) which makes me stick to my overall Plan to look towards my lower targets.
Trade safe.
CCNils
EURNZD 4H BULLISH TRENDWe are in an upward trend and we are waiting for more rise after achieving the TP
EURUSD Bullish Reversal Confirmed After the correction is completed, now we start with the batch wave
Gold Analysis==>>Rising again==>>Short term!!!Gold ( OANDA:XAUUSD ) started to decline from the Resistance zone($2,740-$2,708) , as I expected in the ✅ previous post ✅.
Gold is moving in the Support zone($2,670-$2,653) and near the Potential Reversal Zone(PRZ) .
According to Elliott's wave theory , Gold is completing wave 5 .
Also, Regular Divergence(RD+) between Consecutive Valleys .
I expect Gold to start rising again from the PRZ and attack the Downtrend line ; if it breaks, we can expect further pumps .
⚠️Note: We should expect further decline if Gold breaks the Support zone($2,670-$2,653).⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
SKL Targeting 1.00My updated count on the daily chart shows we shold be in green sub-wave V of blue 3.
1.00 is an obvious target for this next leg up.
2222 ARAMCO (TASI Market)2222 ARAMCO (TASI Market)
We are waiting to change of Behaviour to change direction from down to up.
Regards,
BITCOIN → Consolidation before the breakout. When do we go up?BINANCE:BTCUSD continues to consolidate, but within a strong bullish structure. The price is approaching the trigger, the breakout of which may provoke the formation of an upward impulse
Globally, the coin is still in the phase of realizing a global " cup and handle ", which I reminded one of the first back in August:
A good signal that hints that the growth is likely to continue is the fact that after a strong growth and testing 100K the price does not fall, but consolidates with gradually rising local lows, it is also worth paying attention to MA-50, which acts as a strong support. Within this consolidation we have clear zones, within which the price is trading and accumulating potential, and there is also a clear trigger, the breakout of which can provoke the continuation of growth (distribution).
But next week is the Fed meeting on December 17-18, and there may be short-term market manipulative reactions. Be careful
Resistance levels: 101.8K, 104.1K
Support levels: 98.9K, 94.15K
Technically, the focus is on 101.8 - 98.9. Consolidation is forming inside this channel. I do not exclude a chance of support retest in the format of a false breakdown before further growth. Another deep correction to the lower liquidity zone - 94.1K is also possible. But until the price breaks 101.8, bitcoin will not go up, and based on the chart, the event is close and the chance is high
Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSDT ;)
Regards R. Linda!
Has SMGR Finished Its 5 Wave Down Move?SMGR to me looks like it might have finished the large 5 wave move. I checked on other charting website that it already has a bullish divergence between the third and the fifth wave, which is a good possibility that the larger 5 wave move has finished.
We should observe how it plays out for the next couple of weeks. If it bounces and forms an A wave with good structure and volume, then we can wait for the B wave in order to ride the C wave.
AAVE Overbought H&S
The pump from the last few months could be finally running out of steam, at least in the short term.
There is a Head and Shoulders pattern being formed, with clear bearish RSI divergence.
Remember that in these situations the more conservative trade is to wait for a break and retest of the neckline.
NIFTY50.....Wave b done, or a double waves 1 and 2 underway?Hello Traders,
The NIFFT50 made a low on the 21st of November at 23262! Since then it has been moving within a "three-up" or double wave 1 and 2!
In the first case, the next move should be to the downside, developing a wave c/y to lows below 23263 for the next 2-3 weeks. A good indication of such a move is a break of 23873. A possible price range for such a move is at or around the 213xx area, close to the June lows. More bearish potential!
If a double wave 1 and 2 is underway, then the price targets will be higher, probably to the new ATH`s.
A first indication of such a scenario would be if the N50 breaks above the resistance at 24851 and if it breaks above the 0.618 Fibonacci @ 25082 on a daily close with strong bullish volume!
A break above the 25600 area (0.786 Fibonacci) will reduce the chance of what I call a "sucker wave". A possible "B-wave"!
In fact, a flat pattern is always possible, `because we are probably moving within a corrective wave and the move to the upside on a weekly basis does not give fingertips for an important high in place!
Anyway! On Friday, we saw a "Kumo breakout", which is actually a buy signal according to the Ichimoku technique! But always be prepared for a retest of the breakout in the 24500-24400 area.
That's all for today.
Have a great week.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
USDCAD Elliott Wave AnalysisHello friends
In the previous analysis of the currency pair USDCAD, we expected the price to grow and also specified the profit-taking range.
Now, if you took your profit at the desired point and exited the trade, you can enter the buy trade again to reach a higher target.
The reason for this is the formation of microwaves 1 to 4 of the main wave 5, and currently it is appropriate to enter the buy trade to catch the price growth in the main wave 5 of 5.
The stop loss is at 1.3965. And the profit limit is at 1.4200.
To support me, I recommend that you install the Trading View application on your phone and see my analyzes and support me with your comments and Boost. Be successful and profitable.
Lucid Group W1 (NASDAQ Market)Lucid Group W1 (NASDAQ Market)
We are in the ending down trend which is Diagonal weather it is Leading or Ending. Exactly, C or 1 from c from diagonal wave.
Regards,
ZEN UptrendMy primary count considers that we are currently in Black wave 5, which will wrap up Gray wave 3.
I don't expect this next wave to go much further than black 3, and the 20-25 range should offer resistance for the next correction (gray 4).
Alternatively, the recent leg down is just black A of a larger ABC correction. This count would still make the overall scenario valid, since Black 1 invalidation is all the way down at 9.25.
4001 Al Othaim W1 (TASI Market)4001 Al Othaim W1 (TASI Market)
we are in down trend in wave 5 from wave (a) which Leading Diagonal.
Regards,
GBPUSD - Nothing Can Stop It, It's All The Way Up!Here we have the monthly chart for GBPUSD.
GBPUSD 'recently' completed a major ending diagonal. We know this as it was a 5 wave pattern in the form of a wedge. Now that the bottom is in, we're expecting multiyear bullish price action.
Wave 1 can be an impulse or a leading diagonal. For GBPUSD, we are seeing a clear leading diagonal pattern = 5 waves.
We are anticipating one final move up to complete wave 1 and then we'll be seeing a wave 2 correction (as shown in the chart)
Trade Idea: Trading the 5th wave of the Leading Diagonal
- Watch for bullish price action to appear
- Confirmations such as trendline break or BOS can be used to gain an entry
- Once entered, put stops below wave 4
- Target: 1.36 (1,100pips)
Once wave 1 leading diagonal is complete, we'll be back with an update!
If this post gets enough engagement, we'll post lower timeframe charts.
Goodluck and as always, trade safe!
