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Wave Analysis

GBPJPY → The CBJ has raised rates. What's in store for the pair?FX:GBPJPY experienced an attempt to break through resistance and rise, but failed to realize the intention as traders do not believe in bullish movement due to the actions of the Central Bank of Japan The Central Bank of Japan raised the rate by 0.25% to the highest since 2008. The bank sees accelerating inflation, a slowing economy and is likely to raise the rate further if inflation continues to rise. Fundamentally, the situation may trigger a fall in the currency pair, but it may be restrained due to the Pound's strength against the Dollar. Nevertheless, I assess the situation regarding a false break of resistance from the technical part, and from the fundamental part from the Japanese action, as they are targeting the medium term. Resistance levels: 193.00 Support levels: 192.00, 190.55 Another attempt to retest resistance before a further drop is possible. Traders are starting to build up longs on the Yen, which may lead to a bearish correction of the currency pair. Regards R. Linda!
Short
by RLinda
2
ENA/USDT - Potential Breakout in Long-Term DowntrendHello traders! Let's take a look at the ENA/USDT price chart. As you can observe, the price has been locked in a long-term downtrend , contained within a descending macro channel . Recent Price Action: Over the past 24 hours, ENA has shown signs of a potential reversal. The price has entered a mini-uptrend channel and is currently approaching the upper boundary (ceiling) of the larger, descending macro channel. This creates the possibility of a breakout from the long-term downtrend. Potential Breakout Scenario: Given the potential increase in altcoin trading volume, I believe there's a strong likelihood that ENA could break through the macro channel's resistance level, located around $1.060 . If this breakout occurs, I anticipate a continued upward movement towards the following targets: First targets: Target 1: $0.9875 Target 2: $1.0500 Then: Target 1: $1.20 Target 2: $1.35 Target 3: $1.52 mportant Note on Price Correction: It's crucial to acknowledge that after a potential breakout above the macro channel's ceiling, a price correction is likely to follow. This is a normal market behavior after a significant upward move and should be anticipated. Disclaimer: This analysis represents my personal perspective and should not be considered financial advice. The cryptocurrency market is inherently volatile, and past performance is not a guarantee of future results. Always conduct your own research and manage your risk accordingly before making any trading decisions. Good luck with your trades!
Long
by Arash-RK
Bitcoin situationWe haven't talked about the quintessential cryptocurrency, Bitcoin, for a few weeks. It has been moving sideways, and I've maintained the recommendation to stay neutral. The good news is that the support hasn't broken, and it has provided good buying opportunities. Now, we can expect another drop to the area marked as an ideal buy, or in case of a bullish breakout, we can buy to join the next bullish rally. Losing 86k$ is a major problem according to the current chart situation.
BITSTAMP:BTCUSDLong
by TopChartPatterns
1
GBP/USD Buy Opportunity: Riding the 3rd Wave Uptrend The GBP/USD currency pair is currently presenting a potential buy opportunity as it appears to be in the middle of a 3rd wave uptrend—a strong impulsive move according to Elliott Wave theory. This article highlights the setup, entry, target, and stop-loss levels, with supporting technical reasoning. Market Overview The GBP/USD has been trending higher over the past few sessions, with strong bullish momentum indicating the development of an impulsive Elliott Wave structure. Based on recent price action and Fibonacci projections, the pair is currently in the 3rd wave, often the most powerful and extended wave in a 5-wave sequence. Current Price Action: The pair recently broke above key resistance levels, confirming the bullish structure. Fundamental Drivers: Hawkish expectations for the Bank of England (BoE) and signs of USD weakness amid a dovish Federal Reserve outlook are providing fundamental tailwinds. Buy Setup To capitalize on this uptrend, the following trade setup is recommended: Entry Level: 1.2400 This level aligns with minor support based on a previous breakout zone and Fibonacci retracement levels. Buyers can aim to enter around this area, where the market could resume its upward trend. Stop-Loss: 1.2344 The stop-loss is placed just below the most recent swing low, protecting the trade against invalidation of the bullish structure. This level is key because a break below would indicate a potential shift in sentiment. Target Level: 1.2556 The target is derived using Fibonacci extensions of the previous wave 1 and wave 2 structure. The 161.8% Fibonacci projection aligns with this level, reinforcing its significance as a likely resistance zone. Elliott Wave Analysis Wave 1 and Wave 2 Completed: GBP/USD formed a clear impulsive wave 1, followed by a corrective wave 2, which retraced approximately 61.8% of wave 1—typical behaviour for wave 2. Wave 3 in Progress: The current price movement shows strong bullish momentum characteristic of a 3rd wave. Volume and price acceleration further confirm this scenario. Fibonacci Projections: The 161.8% extension of wave 1 predicts a potential wave 3 target near 1.2556. Retracement levels between 38.2% and 61.8% of wave 2 suggest 1.2400 as a key entry zone. Risk-to-Reward Ratio This trade offers an excellent risk-to-reward profile: Risk (Stop-Loss): 56 pips (1.2400 - 1.2344) Reward (Target): 156 pips (1.2556 - 1.2400) Risk-to-Reward Ratio: ~1:2.8 This favorable ratio makes the trade attractive to swing traders and position traders alike. Conclusion The GBP/USD presents a compelling buy opportunity in the middle of a 3rd wave uptrend, with the potential to reach 1.2556. Traders can look to enter around 1.2400 with a well-defined stop-loss at 1.2344 to limit downside risk. The trade aligns with both Elliott Wave and Fibonacci principles, offering a high-probability setup with a strong risk-to-reward ratio. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Please perform your own due diligence before entering any trades.
Long
by TheSignalService
2
USDJPY Trade IdeaWith the Federal Reserve already adopting a dovish monetary policy stance and the significant divergence in policies between the Bank of Japan (BOJ) and the Federal Reserve, USD/JPY appears to be an attractive candidate for a short swing trade. 🔍 A few days ago, I opened a position in this direction, and now, despite that position still being active, I’m adding a new one. 💡 Risk Management: The total risk for this project remains strictly controlled and does not exceed 2% of the total capital. What’s your analysis? 🤔👇
Short
by MasoudEskandari
1
"XAUUSD Rising Channel with Breakout Potential"This chart represents a rising channel pattern for XAUUSD on a lower timeframe. Key details include: 1. Ascending Channel: The price is consistently moving within the defined upward-sloping parallel trendlines. 2. Breakout Zone: The target level appears to be around 2,781.139, where the price may potentially break above the channel. 3. Current Price: XAUUSD is trading at approximately 2,754.565, slightly below the upper boundary of the channel. 4. Bullish Momentum: The trend indicates strong buying pressure, suggesting a potential continuation toward the resistance level. This setup highlights a bullish bias, with a breakout confirmation necessary to sustain the upward trend.
OANDA:XAUUSDLong
by SOPHIA_06
2
EURUSD Roadmap==>>Short-term!!!EURUSD ( FX:EURUSD ) is moving near the Support zone($1.039-$1.033) and inside the Ascending Channel . According to the theory of Elliott waves , it seems that EURUSD has succeeded in completing the main wave 3 above the ascending channel and is currently completing the main wave 4 . I expect EURUSD to attack the Resistance zone($1.052-$1.044) again soon, and the main wave 5 could end in this zone. What do you think? Will EURUSD break the support zone or bounce back to test the resistance zone? Note: If EURUSD can break the Support zone($1.039-$1.033), the lower line of the ascending channel, and 100_SMA(4-hour) , we should expect a further decline of this pair. Note: Donald Trump's speech and the announcement of the Unemployment Claims index can affect the EURUSD trend(Tomorrow). Please respect each other's ideas and express them politely if you agree or disagree. Euro/U.S.Dollar Analyze (EURUSD), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; 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.
Long
by pejman_zwin
3
Hellena | EUR/USD (4H): LONG to the resistance area of 1.05862.Dear Colleagues, after the last upward movement it became clear that the wave “5” of the senior order is already completed and it means that we should expect the continuation of the correction “abc”. At the moment I expect a corrective movement in wave “b” to the 50% Fibonacci area (1.03180), then an upward movement to the resistance area of 1.05862. It is possible that the price will continue the upward movement, renewing the wave “a”. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Long
by Hellena_Trade
7