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Wave5projection

USDJPY: Riding the conclusion of Wave 5Greetings fellow traders, I extend my best wishes for a prosperous New Year to you all. Allow me to share my analysis of the USDJPY market. As we can all observe, the pair is currently in a bullish trend, having exhibited the attributes of an impulsive 5-wave pattern. It seems we may be witnessing the conclusion of the last impulsive wave, assuming it is not truncated. The market appears to be in sub-wave 4 within the final wave 5. As such, I anticipate an impulsive upward movement, taking out the previous high at 145.977. My optimal entry point is at the 145.157 price level, where I anticipate market to find support. The projected targets for this analysis are 146.883, 147.554, and the extreme upper border of the channel at 148.184. This outlook would be invalidated if the price were to dip below 144.315. There is CPI report today. Market may whipsaw in both directions, trade with caution. Thanks, and cheers to a more profitable 2024.
Long
by Samuel124
1
GBPCAD: Bracing for Bearish Wave 5Hello Traders, Here is my current outlook on GBPCAD. In our previous analysis, we effectively identified the initiation of Wave 3 or Wave C, and we entered the market at 1.70913 . Presently, GBPCAD seems to be in the final stages of a corrective Wave 4. Provided that the existing resistance zone holds, we foresee a subsequent break of the trendline to the downside, potentially followed by a retest to confirm our directional bias (conservative approach). Should this scenario unfold as expected, we expect an impulsive bearish movement within Wave 5, with a downside target of 1.62283 . Our invalidation level is at 1.6863 , signifying that the projected scenario would cease to be valid if this level is broken to the upside. Cheers!
Short
by Samuel124
2
Delta Wave 3 of final wave 5?I thought share my thoughts on the airline industry. I'll just share my thoughts on Delta Airlines. As many of you may know the sentiment for airline stocks are very bearish due to the pandemic. I believe Delta is about to surprise many. I may be wrong but my analysis of this stock is very bullish. I outline a potential wave 3 move of a much larger wave 5. If you look at what happened in march of 2020 with all the uncertainty surrounding the pandemic, Delta completed wave 4 of 5. Delta is currently in a bullish channel (green line channel) and I believe it just completed an ABC correction of wave 1 of the much larger wave 5. We are currently on the verge of starting wave 3 of the much larger wave 5. I will be adding to longs if price breaks up above the downward channel (red line channel). This is not financial advice, I'm only sharing what I'm doing. Good luck everyone.
NYSE:DALLong
by FreedomBuilder
Tesla - Road to 1K can be Bumpy but its Coming SoonI just looked TESLA stock and two things popped up straight in my face 1. On the Weekly chart I see a Converging Triangle (A wedge if you like, a converging channel if you like) 2. A setup 1 formation which means, I see a Wave 3 and Wave 4 and possible Wave 5 on the horizon. If I were to invest in tesla it won't be on the Daily chart . this time it will be on the weekly chart. I can see that the Gods of Trading Chaos are pointing their fingers at 1K in the next 6 months to a year. Come on! lets find out... I have for you Triangle Formation and Wave Projection whichever you choose is up to you
NASDAQ:TSLALong
by iTradeAIMS
1