Wave 5 migght be about to begin.
There is a signal that shows the rand might be weakening against the dollar for a while.
There is a selling opportunity which might play out for quite a while. Also refere to the monthly chart for the clear bearish momentum.
This is a second viewpoint in contrast to the one I posted a few days ago. The way the structure is looking on the weekly chart, it will not be a suprise that the market will go up before the longterm trend to the downside continues. *NB: Should this play out then the 2nd leg will be an EXPANDING FLAT instead of a RUNNING FLAT which currently exists.
The pair might be going up to the 61.8% or 78.6% retracement before coming down. The analysis to the downside will be provided once the aforementioned conditions have been confirmed.
Silver is continuing to the upside, possibly to the 22.00000 mark before any longterm correction can take place. It is still safe to buy but and SL should be placed below 17.50000
There is a sell signal on this pair as there is one last move (5th wave) to complete the sequence to the downside. It might be more prudent to wait for a better entry around the 61.8% to 78.6% retracement zone. This improves the Risk to Reward Ratio. *NB: Patience is very fast.
There is one last move to the downside that has to play out to complete the correction wave structure. This move is likely to close at the 78.6% level but it is also possible for it to extend down to the 88.6% level (flashing out weak hands) before going up. *NB: Also note that the RSI (shown above the chart) has to reset on the hourly chart hence the...
There is a possibility for fractals playing out on BTCUSD as it heads down to 5300-5500 before a major trend continuation.
Possible drop to the 5500 level before trend continuation.
We might be getting one last move to the downside before a trend continuation (visible on Monthly and Weekly timeframes).
There is a high probability of a retest to happen.
Possible buying opportunity: Short term
Refer to the Weekly Chart and Daildy Chart for a clearer picture.# The 4H tmeframe is still indicating a short-term bullish move.