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Impulse

Silver (XAGUSD) Breaks Higher & Forms Elliott Wave Bullish SequeSilver (XAGUSD) broke above the previous peak on 2.2.2023 high ($24.62). As a result, it now shows a bullish sequence from 9.1.2022 low favoring further upside. A 100% – 161.8% Fibonacci extension from 9.1.2022 low targets 26.91 – 31.23. Near term, cycle from 3.10.2023 low is in progress as a 5-waves nesting impulse Elliott Wave structure. Up from 3.10.2023 low, wave 1 ended at 22.71 and pullback in wave 2 ended at 22.12. The metal has resumed higher in wave 3 which subdivides into another 5 waves in lesser degree. Up from wave 2, the 1-hour chart below shows wave (i) ended at 23.52 and wave (ii) ended at 22.8. Wave (iii) ended at 24.15, wave (iv) ended at 23.54, and wave (v) ended at 24.19 which completed wave ((i)). Pullback in wave ((ii)) ended at 23.78. The metal extends higher in wave ((iii)) and expected to complete soon. Afterwards, it should pullback in wave ((iv)) in 3, 7, or 11 swing before it resumes higher. Near term, as far as pivot at 23.78 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
FOREXCOM:XAGUSD
by Elliottwave-Forecast
1
AUDJPY Same Sell, Choose The Best Pair So similarly, AUDJPY has the similar sell price action like CADJPY. Its important to understand currency correlation, and why we need to choose the best 1 or 2 pairs of the same currency to enter. IF JPY is going to get stronger, then likely all the JPY will move. But if we are wrong on our analysis, all the JPY could reverse. So its in our best interest to reduce our risk in trading, choose and focus on the best potential setup in the market. Ideally, we need to wait for the bearish continuation correction on the lower time frame to confirm another move down.
Short
by jojofang0901
11
Silver Higher Time Frame Outlook Hello everyone: Most of the time I only focus on technical side of things, but this time I will go over both the fundamental and technical of Silver for the long term. Silver was only trading around 8-9$ around the 2008 market crashed, and peaked at 50$ in 2011. IT had slowly but surely dropped down to the lows again around 13$ in end of 2015. Understand that the price of silver can not go lower as there are many cost associated with silver. Whether is production, labor, inflations..etc. Price is not sustainable at low cost. Which leads to people understand the likelihood of price rising again. On the other hand, purely from a technical perspective, we are see a period of consolidation phrase from 2015 - 2019. If Covid didn't happen, price wouldn't test the lows of 2013 again. Regardless of the short term push down, we see price had the massive bullish push to the upside, clearly break all previous highs. This can be the start of the HTF bullish run. Latest price action shows us a big potential consolidation in the making. Can be the next continuation correction to push the price up. My approach would be wait for this HTF correction to complete tp give me more confluence that we are likely to resume the bullish move to the upside, and wait for LTF continuation correction for the buys. Thank you
OANDA:XAGUSDLong
by jojofang0901
30
Gold Miners ETF (GDX) Develops Elliott Wave Bullish SequenceGold Miners ETF (GDX) is close to breaking above the previous peak on 1.25.2023 high (33.34). A break above will open up a bullish sequence from 9.26.2022 low favoring further upside. Near term, cycle from 3.10.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.10.2023 low, wave 1 ended at 29.95 and pullback in wave 2 ended at 28.50. Wave 3 is currently ongoing with internal subdivision as another 5 waves in lesser degree. Up from wave 2, wave ((i)) ended at 31.99 and pullback in wave ((ii)) ended at 29.63. We can see wave ((i)) and ((ii)) in the 45 minutes chart below. The ETF then extends higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 31.80 and wave (ii) ended at 30.74. Wave (iii) ended at 32.80 and pullback in wave (iv) ended at 31.95. Final leg wave (v) of ((iii)) is expected to end soon, then it should pullback in wave ((iv)) before turning higher again in wave ((v)) to complete wave 3. Near term, as far as pivot at 29.63 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
AMEX:GDX
by Elliottwave-Forecast
GBPCAD Short Term Bearish Possibilities Hello everyone: Similar like GBPUSD, we can see GBPCAD here is looking like there is one more short term move to the downside. After the initial move up to the previous highs, price failed to continue higher, and formed a double tops, rising wedge reversal. At the of the week, some bearish price action has begun on the lower time frame. Be interesting to see if price can form bearish continuation price action, that can confirm one more short term move down within the larger, higher time frame correction. thank you
Short
by jojofang0901
7
Ripple (XRP) Analysis: Understanding the Potential MovesRipple (XRP) has acquired significant attention from traders and investors recently, and it currently sits at a crucial point in its price action. I will analyze Ripple's recent performance and potential future scenarios from an Elliott Wave perspective. Additionally, I will discuss some of the factors that may influence Ripple's price, as well as its relationship with Bitcoin Dominance. Recent Price Action and Elliott Wave Analysis Ripple has experienced a strong move up to the resistance level of 56 cents, reminiscent of the spike in September 2022. This time, however, Ripple has managed to push slightly higher, reaching a current high of 58 cents. From an Elliott Wave perspective, it appears that we have completed a wave 3 at this high. Extended Wave 3 and Potential Short-term Targets There is a degree of likelihood that Ripple will surpass its current high of 58 cents in the near future if the market decides that breaking the 56-cent resistance (the September 2022 high) is worth pursuing further. This would indicate that we are in an extended wave 3 move, with short-term targets at 70 cents. Wave 4 Cool Down and Retracement If Ripple reaches the 70-cent mark, we can expect a cool-down period of at least a few weeks as the market enters wave 4. During this period, Ripple is likely to retrace back to around 60 cents before resuming its upward trajectory. Bitcoin Dominance and Optimistic Scenario The associated chart displayed in this analysis presents the most optimistic scenario for Ripple's price, assuming that Bitcoin Dominance behaves as expected when it reaches 50%. In this case, Ripple could experience significant growth throughout 2023. Upper Limit for XRP in 2023 However, it's essential to exercise caution when holding XRP at higher price levels. If Ripple reaches 85 cents or higher, it may be wise to reevaluate your positions, as the top for 2023 could potentially be between 85 and 88 cents. Keep in mind that this is the most optimistic scenario, and it's crucial not to become overly attached to a specific price target.
Long
by bitdoctor
NZDCHF Same Bearish Outlook, Short Term Sell Setup Similar like NZDUSD, we can also expect a bearish development on NZDCHF. As usual, after an impulse phase, price formed a continuation correction to correct the impulse. From the correction, there is a confirm impulse push down the price. This is good confirmation of bearish trend. Now price has form another smaller correction, watch for price to break out and look for lower time frame entries to sell to previous lows.
Short
by jojofang0901
2
NZDUSD Bearish Development, Watch For Sell Hello traders: Here on NZDUSD, we can see price is currently consolidating in a possible bearish correction structure. After the initial bearish impulse move, the price fails to break the previous swing highs, and begin to form the current correction. This is usually a good sign that the bearish momentum is still strong and more continuation is very possible. Wait for lower time frame development to confirm the bearish trend to the next swing lows.
Short
by jojofang0901
SPX Futures: Understanding Impulse Waves and Market CorrectionIn this brief idea, I will discuss the recent performance of the S&P 500 Index (SPX) futures and provide some educational insights for new traders. Over the course of Friday and the weekend, SPX futures experienced a considerable incline, followed by a slight correction. From the low at the Europe open, it appears that a 5-wave impulse has completed, and based on the subsequent rejection, we may be looking at a downward move. Before I go deeper, let's take a moment to explain impulse waves. In Elliott Wave Theory, impulse waves are the building blocks of market trends. They consist of five waves, with waves 1, 3, and 5 moving in the direction of the trend, while waves 2 and 4 are corrective waves that move against the trend. Returning to my update, I have a downside target for SPX futures at around 3985, but if the decline occurs more quickly, we could see a drop as low as 3970. This would correspond to a touch of 3950 on the cash SPX index. If my interpretation is accurate, SPX futures should be completing a wave A, which would imply another upward move before descending towards our target. It's still too early to confirm this scenario, but we should see resolution within the next couple of days. If we reach the downside targets of 3970-3975, I expect a subsequent move back up to roughly 4020-4050. It's important for new traders to understand that market conditions can be unpredictable, and having a solid risk management strategy is crucial for long-term success. Identifying impulse waves and other patterns can provide valuable insights into market direction, but always remember to consider other factors and technical indicators when making trading decisions. Full disclosure: I covered my short position this morning and am currently waiting for the market to resolve itself before taking any further action. As a trader, it's essential to avoid unnecessary risk and be patient when the market presents unclear signals. Keep a close eye on market movements and be prepared to adapt your strategy as needed. And most importantly, always conduct your own research and consult with a professional financial advisor before making any investment decisions.
CME_MINI:ES1!
by bitdoctor
Short Idea for BTCUSDT (bar pattern) The impulse wave and megaphone on a higher candle TF is printing something similar on a smaller time frame, i pasted it down to scale for a better observation. I think the 31st of march will determine trend direction based on if its going to play out the last part of the wave: the ABC leg down, see for reference the blue vertical line. Weekend is notorious for baiting retail. Expect the opposite to usually play out tues-thurs when market makers come out to play. I do think the head and shoulders seen below will play out, sending price to my target stated above, around 30-31k. An inverse head and shoulders pattern has a measured move equal to the distance from the lowest point in the pattern to the neckline projected from the neckline. see orange Xs and red vertical lines
Short
by creengrack
USD/ZAR Price Turns BearishUSDZAR Has been in an impulse phase and it has been completed with no rules violated. We are in the bearish phase of the market, we have two counts going on where it could be an impulse in the downside suggesting a long-term sell-off or a short-term sell-off as a correction meaning we are trading in a wave (C) instead. The idea of an impulse is a little complex but the idea would be to trade a wave 3 looking at the retracement it would make sense to target the 2,618. Correlating this pair to USDCAD we are more likely to have long-term sells but keeping an eye on the price level where a Zig-Zag pattern completes will be very important.
Short
by Weshareio
1
GBPAUD Top-Down Analysis #29/50Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on WEEKLY: Left Chart GBPAUD is overall bearish trading inside the brown channel, and it is currently around the upper brown trendline. Moreover, the zone 1.83 is a strong resistance zone . So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper brown trendline. (acting as non-horizontal resistance) on H4: Right Chart GBPAUD is bullish from a medium-term perspective trading inside the rising red channel. 🏹 Trigger => for the bears to take over, we need a momentum candle close below the last low and lower red trendline. Meanwhile, until the sell is activated, GBPAUD can still trade higher inside the green weekly resistance. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
6
EURUSD More USD Strength, Watch For Sell Setups EURUSD is shaping up for more downside opportunities as the price action is showing very clean bearish development. After the double tops, price begin to reverse from the ascending channel reversal. With bearish price in the lower time frames. WE can see price has finally impulse out of the structure and formed a continuation correction, also formed a Head and Shoulder pattern as well. All these are good confluences to wait for more sell setups to form on the lower time frames to give further opportunities to the downside.
Short
by jojofang0901
1
NZDCAD Watch For Bullish Price Action Looks like NZDCAD could potentially develop into the next bullish up move on the lower time frame. From the previous, impulsive phase on the higher time frame, price begin to form into a larger consolidation, correcting the price. With a few swing highs and lows, we see price finally create a smaller descending channel within the larger correction. This is a good sign to show multi-time frames are in a bullsh favor. Currently price has already push up, so wait for this current correction to complete to confirm the nex up side is ideal. Alternatively, price can just make one more short move down to to bottom of the higher time frame correction before the next up move.
Long
by jojofang0901
3
Impulsive Elliott Wave Decline in FTSE Calling More DownsideFTSE ended cycle from 3.16.2020 low with wave I at 8047.06. The Index is now in the process of correcting this 3 year rally in wave II. The internal subdivision of wave II is unfolding as a zigzag Elliott Wave structure. A zigzag structure is a 5-3-5 structure with ((A))-((B))-((C)) as the label. Wave ((A)) and ((C)) in this case subdivides into 5 waves impulse. In the 1 hour chart below, FTSE is still within wave ((A)) of II with subdivision as 5 waves. Down from wave I, wave 1 ended at 7978.61 and wave 2 ended at 8020.13. The Index then resumes lower in wave 3 towards 7870.39, and wave 4 ended at 7949.97. Final leg lower wave 5 ended at 7854.82 which completed wave (1). Rally in wave (2) ended at 7976.48 with subdivision as a zigzag structure. Up from wave (1), wave A ended at 7950.69 and pullback in wave B ended at 7875.03. Wave C higher ended at 7976.48 which completed wave (2). The Index resumes lower in wave (3). Down from wave (2), wave 1 ended at 7897.45 and rally in wave 2 ended at 7959.77. Expect the Index to extend lower 1 more time to end wave 3, then it should rally in wave 4 and extends lower again. Near term, as far as pivot at 7976.48 high stays intact, expect rally to fail in 3, 7, or 11 swing.
TVC:UKX
by Elliottwave-Forecast
EURAUD I Potential correction downward from supply zoneWelcome back! Let me know your thoughts in the comments! ** EURUAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. 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!
Short
by BKTradingAcademy
4
NZDUSD, Potential Short to Double Bottom Price action has been moving within a falling wedge structure which as we know is a reversal structure in nature. We may get another leg down to a double bottom area before price climbs up as we can see a corrective movement after a strong impulse this past week. I will wait to see if price is able to retest the upper boundary of the wedge structure to give a sell opportunity. Thanks Trade Safe ** If you felt this was helpful in any way, please like and follow me for more analysis and educational ideas ** Please share your opinion by leaving a comment.
Short
by ktlfx
1