$nflx - we could test $570 this week... and then pullback to 542 area before the next push.
flirting with the pitchfork median for the past few days, making higher lows on declining volume.
today's candle confirmed bullish engulfing on an outside day.
excepting a bullish week if market remains strong.
Medianline
XLM Next target 0.45!I have predicted before that XLM will reach 0.4 and it well did. The price action has been respecting an upward channel for the last months. Next potential target now is 0.45$. The price action broke through the median channel and through a strong resistance zone which can act as a support if the candle closes above it. After that we can expect a pullback to 50% level of Fibonacci (a previous resistance 0.35-0.36$) before going bullish towards 0.45$. The 21 EMA has been acting as a good dynamic support since 21 January and moving averages in general are well spread and going long.
SPY : Pricing heading downwardsPreviously, I projected that price will drop.
Let's see if the downsloping mini-pitchfork (shaded green) defines the new trajectory path for the price over the next few day or weeks. For now, this mini-me (pitchfork) seems to be in control. As long as price is trapped by this fella, price will be head towards target 1 which is the median line of the major pitchfork(blue).
GJ Outlook W1 June 2020Details on the chart indicate my view of the market based on basic structure, trend analysis, basic wave theory and median line theory.
Order flow concepts also align with this but would make the chart too cluttered. I only use order flow for getting in and out of the market anyway, not necessarily market analysis.
Good luck, trade safe.
AU Outlook W1 June 2020I've been going through median line theory recently and specifically like how it plays with Elliot waves. So the analysis is based on those two techniques primarily.
Structure is king and rules over all.
Details on chart.
Ps. Hoping to publish more ideas as practice and also as accountability for myself. Previous ideas published have been immature and underdeveloped, based on personal ego and limited understanding. Learning everyday, growing everyday.
Potential for resumption of downtrend in S&P500This is the bearish case for S&P500. There is a bullish case which I'll publish later.
The rally since the bottom on 22nd March can be counted up to this point as a double zigzag WXY as shown in this chart.
The second zigzag of this double zigzag has followed the purple pitchfork nicely and has been tagging along its median line, and its C wave can be counted complete as an ending diagonal, although as explained in the comments on the lower time frame analysis wave C may continue up a bit further
Looking at the RSI it is showing a bearish divergence gap on the 1 hour time frame
Bitcoin might go long but for how long ...Bitcoin fell down yesterday very strong, which might be a good reason for continuation for reverse. This might be a good sign for continuation, but after all we have to appreatiate media hype, so we are heded to FIRST and SECOND targets first to decide wether buy will continue or crash again.
From the moment when market fell down on sunday, bitcoin left its new unfulfilled futures gap. As expected, we can say this gap might gap fulfilled first, before possible crash afterwards.
If momentum and expected second target will base new support level then we can expect also third target up to 11k or even to 12k (hard to hit)
Short term target:
T1: 9500$
T2: 10 000$ (Possible return expected)
T3: 10500$
Wish you good trading,
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Elitefxacademy
GBP/USD :DSimilar setup for the GU, as you can see it is forming a "Head and shoulders pattern" (I don't trade chart patterns) . Price is moving in a very organized way and that's curious to see. Hope you like me analysis even though it is hard to understand xD.
Feel free to ask me anything about my analysis :D.
BtcUsd - H1 - Median line analisysNorthern Movement:
If the red trend line fall, a northern daliy and weekly resistance test is likely.
Southern Movement:
If the green trend line fall, a southern daliy and weekly resistance test is likely.
There is currently an downward trend -D1 and H4.
Only I would like to see the growing trend :-)
BtcUsd - H1 - Median line analisysNorthern Movement:
If the red trend line or green resistance fall, a northern resistance test is likely.
The upward trend requires that the northern resistances fall.
Southern Movement:
If the green trend line or red resistance fall, a southern support test is likely.
There is currently a downward trend.
S&P500 - H1 - Median line analisysThe situation has not changed since last week.
Northern Movement:
If the blue extended line falls, the price could test the 4-hour trend channel.
Southern Movement:
Otherwise, the southern support may be tested.
But even then, there is a northern trend.
The conditions for the southern movement have not yet been established
UsdJpy - H1 - Median line analisysNorthern Movement:
If the red trend line or green resistance fall, a northern resistance test is likely.
There is currently an upward trend.
Southern Movement:
If the green trend line or red resistance fall, a southern support test is likely.
The downward trend requires that the southern supports fall.
BtcUsd - M15 - Median line analisysNorthern Movement:
There is currently a northern trend.
Northern resistors are being tested.
If this movement dies there is a good chance of a serious correction.
There are multiple long trends within each other but still very weak.
It is advisable to trade on a lower timeline.
Southern Movement:
The conditions for the southern movement have not yet been established.
LONG S&P500 - H1 - Median line analisysNorthern Movement:
If the blue extended line falls, the price could test the 4-hour trend channel.
Southern Movement:
Otherwise, the southern support may be tested.
But even then, there is a northern trend.
The conditions for the southern movement have not yet been established
BtcUsd - M15 - Median line analisysNorthern Movement:
If the red trend line or green resistance fall, a northern resistance test is likely.
Southern Movement:
If the green trend line or red resistance fall, a southern support test is likely.
There is currently a southern movement.
The conditions for northern movement have not yet been established.
There is a good chance of a major correction or continuation of the south.
S&P500 - H1 - Median line analisysNorthern Movement:
If the red trend line or green resistance fall, a northern resistance test is likely.
There is currently a northern movement. The D1, H4 and H1 trends are in the same direction.
Southern Movement:
If the green trend line or red resistance fall, a southern support test is likely.
UsdJpy - H1 - Median line analisysNorthern Movement:
If the red trend line or green resistance fall, a northern resistance test is likely.
The northern movement is more likely because the H4 and H1 trends are in the same direction.
Southern Movement:
If the green trend line or red resistance fall, a southern support test is likely.
There is currently a northern movement, but the D1 trend is southward.