Daniel_Kostecki

Daniel_Kostecki

In our previous analysis about the key German DAX index we have mentioned about two potential head and shoulders patterns. One is larger than the other. The market has created a strong downward movement and has completed the smaller pattern. The neckline has been broken and retested as a potential resistance. After that the price dropped to the textbook target...

Daniel_Kostecki

The exchange rate of USD/JPY currency pair has created a potential head and shoulders pattern. The neckline has been broken and the market has plunged. This type of breakout may confirm the bearish scenario according to the price pattern. The nearest potential resistance is set by previously broken lows at 104,89 and 105,00. The first one has been tested which...

Daniel_Kostecki

The price of Litecoin has ended the potential five wave impulse structure as the end of the corrective wave. The key support at 42,00 USD has been defended and the price has created a potential inverted head and shoulders pattern. The neckline has been broken yesterday at 51,61 USD. As a result, the market may rise to the textbook target which is set at 61,72...

Daniel_Kostecki

In our previous analysis about the German stock index DAX we have mentioned that the market may wait for a large head and shoulders pattern. The resistance where the left and right shoulders seem to be located near the same level. The neckline could be set by the previous lows at 12313. However, looking at the lower time frame we could spot another potential head...

Daniel_Kostecki

The price of Bitcoin has risen to the highest level since late August, reaching almost 12000 USD. The whole upward movement has started after the potential “abc” running correction which has appeared within an upward trend. It seems that after the break of 12473 USD the market may move towards the top from June at 13880 USD. Above this level, a 100 percent Fibo...

Daniel_Kostecki

The EURUSD exchange rate has been creating a potential corrective wave four as a part of a larger Elliott wave impulse pattern. What is more, the recent developments on the chart may indicate an inverted head and shoulders pattern as the start of a new impulse wave. If this assumption is correct the market could break the neckline as an upper limit within a drawn...

Daniel_Kostecki

Looking at S&P 500 index chart we may spot that the market has been moving within an upward trend channel. The index accelerated after the resistance breakout at 3430. It seems that currently, this level could be a part of an important support area. The second part of the mentioned support could be the lower limit in the main upward channel. It has been tested...

Daniel_Kostecki

The German stock exchange index DAX has been creating a potential head and shoulders pattern on the daily chart. After the spring and summer rally, the market has been consolidating and creating a potential distribution in the area of the bearish gap from February. The whole movement looks like a possible head and shoulders pattern where the left and right...

Daniel_Kostecki

Looking at the BCHUSD chart we may firstly spot a potential XABCD harmonic pattern and secondly a potential “abc” irregular correction pattern. The first one and the second one could be potentially a trend continuation pattern. In this situation, we’re talking about an upward trend. If the support at 204,26 USD is defended we may assume that the price could rise...

Daniel_Kostecki

Looking at the chart of Ripple we may spot a potential running correction labeled as “abc”. The price of XRP has tested important support at the trendline drawn through the recent lows. What is more, the market has also defended the previous resistance at 0,2254 USD. Currently, the XRPUSD exchange rate has been moving above the short-term trend channel and its...

Daniel_Kostecki

In our recent analysis, we have mentioned that the Nasdaq 100 may finish the whole corrective structure labeled as “abc” after the previous impulse wave labeled as “1-5”. According to the Elliott wave theory after impulse wave and after correction the next impulse wave should occur. Looking at the chart the next impulse is on the way supported by the possible...

Daniel_Kostecki

It seems that the Canadian Dollar may be the top gainer this week in relation to the US Dollar. The CAD could be appreciating thanks to rising oil prices after the hurricane Delta causes the closure of 92% of oil production in the Gulf of Mexico. From the technical point of view, the USDCAD currency pair has ended a potential one to one corrective pattern with...

Daniel_Kostecki

The price of silver has been creating a potential “ABC” simple corrective pattern after the previous rally. The wave “C” has potentially ended at the lower limit of a downward channel. The market reaction near that level may confirm the assumption of finished correction. However, currently the price is consolidating below 24,40 USD which could be the first...

Daniel_Kostecki

The Nasdaq 100 index has been creating wave after wave according to the Elliott wave theory. After an impulse wave which consists of five waves, the market has created a three-wave corrective pattern. It looks like a simple “abc” correction. The “c” wave seems to have finished at the previous important support at 11236 and at the lower limit within a trend...

Daniel_Kostecki

The EURUSD currency pair has been creating a potential pattern known from Elliott wave theory that we have described in our previous analysis. According to Elliott wave structure the corrective wave “iv” should be finished and the breakout from the downward channel may confirm that. Currently, the wave “v” within wave 3 is now possibly forming with the potential...

Daniel_Kostecki

Looking at the E-mini S&P 500 futures contracts we may spot a potential Elliott wave pattern. In our previous analysis, we have mentioned that impulse waves have been created followed by an “abc” simple correction pattern. Currently, after the wave "a" we could expect wave “b” and wave “c”. Looking at the chart the wave “b” may be finished soon and wave “c” could...

Daniel_Kostecki

In our recent analysis, we have mentioned that E-mini S&P 500 futures are trying to create an impulse wave known from the Elliott wave theory. It seems that the whole upward structure has been finished and currently we could observe a potential wave “a” within corrective movement. From the technical point of view, we may expect another upward wave labeled as wave...

Daniel_Kostecki

The price of BTC firstly has created a potential larger ABC simple correction pattern followed by a V-shaped recovery. Secondly, after this huge rebound, the price has tried to break 12000 USD. However, this attempt has ended with some correction which could look like an abc running pattern. The market has retracted after a move above 10500 USD and stopped at...