There is a liquidity injection in 1h FVG as we consider it as variable 1 and a liquidity raid in Fractal low inside the FVG as a variable 2.
Long position seems logic after price reaction on 1h Demand Zone
1. Daily Swing + Int. Bias Bullish 2. 4h Swing Bullish 3. 15m Swing Bullish + Int. Counter Bearish So, the continuation of a counter move will grab SSLQ and the thoughts for long entries will be from the second +OB around 18.635 - 18.645 area. Before and In case that we have BOS (18.670), the next target will be 15m Swing High. Long positions are HP When all...
In Elliot's wave theory, no essential role is played by funtamentals or any other micro or macro economic elements. It is rather the occasion for the baton to change from bulls to bears and vice versa. Thus, BTC, after an impressive wave lengthening run (3), ended up in a rather truncated wave (5) in November 2021 and since then has begun an ABC correction, with...
After the completion of the upward wave 1 at 1998 dollars in five sub-waves, an abc correction was the normal consequence, of which wave c, we are watching to be in full swing with a first target of 1961 dollars.
It seems that ABC correction has completed. If this count is correct, the border for long positions is the invalid line.
There is a remarkable analogy in the three uptrend legs retracement and a positive divergence in the DPO index that makes the pair interesting.
The most recent increase must be a component of wave (V), which should push gold to a new record high, unless.....
If we attempt to measure with Elliott's wave theory the gold price rise, we could say that the (5) wave of the 5/ wave is bounded in the region of 2450. This is because when we have an extension of the 3/ wave, then probably the 5/ wave is equal to the 1/ wave. So, if our measurement is accurate, the 4/ wave has ended with an acute correction in the region of 50%...
It seems that the downward trend has ended in week layout. We'll keep an eye on it in short term charts.
When we are in correction mood, we cannot say clearly whether the converging BCDE triangle will break upwards - in most cases it does - or downwards. In conclusion, we expect to recognize signs of breakout.
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The collapse in 2022 is hardly a buying opportunity if this calculation is accurate. Instead, it is most likely the start of another significant downtrend.
It is clear that long-term trend is downward. Thus, there will be opportunities to open sell positions and buy positions at shorter time levels as well.
After Nov 07 British Pound seems to ending the downtrend correction. Critical res 1.35 area.