yuchaosng

yuchaosng

Firstly, beware of volatility from upcoming FOMC. From my analysis using 15 mins timeframe, I can see a clear head and shoulders setup that has broken through. Using a standard measuring rule of 1-to-1 distance (distance from head to trendline), I project that the take profit target will be around $59.75.

yuchaosng

Firstly, beware of volatility from FOMC tomorrow. From my EW counts, I am expecting Bitcoin to crash after breaking the trendline and also riding on a wave 3 down. On the chart, the big yellow 1 & 2 are the cycle level wave and the smaller purple 1 & 2 are the intermediate wave counts.

yuchaosng

This is just one possible EW count that I think is currently my preference where the recent upmove is a wave 2. The price move up hit the downwards sloping trendline and got reflected back. It is now a good risk-reward to short this and place the short slightly above wave 2 high (or above the trendline).

05:25

yuchaosng

Based on my updated Elliott Wave counts, USD is currently in a wave 3 down. I analyze this based on DXY, EUR/USD, USD/JPY, and USDSGD. Additionally, I also discussed the Fed rate cut. Instead of 25 basis points, the Fed might even cut 50 basis points.

yuchaosng

I believe that oil will go down a lot more these 2 months for 2 reasons: 1. Broke down of trendline, and 2. Presidential election and democrats will want to bring down oil prices in order to win votes.

yuchaosng

My July analysis in end July warning of an upcoming crash in S&P500 mentioned that there is one thing that I don't like about the previous count: The wave 4 is too short: only 1 week. I mentioned that there is an alternate count where the wave 3,4, and 5 are combined into a wave 3. But even that count will not change the projection that S&P is going down. Right...

05:42

yuchaosng

Base on my counts, HSI should be going down on a wave 3. If I am not wrong, it should break down from the upward channel.

yuchaosng

This is the best time to short IBM at a good risk-reward ratio. The SL is just above today's high. The TP is way below if you can hold.

yuchaosng

Based on my EW, I am betting that the vertical move up is a wave 2 and we should be going down from here on a wave 3. There is also a Fibonacci retracement level that minor wave 2 hit (and slight exceeded) and got rejected.

yuchaosng

Based on my updated EW counts, I see that minor wave 3 has ended and now we should be on the move up for minor wave 4. This could be a consolidation phase and thus I do not advocate going long. I will advise waiting to go short or scaling in a short position. Nevertheless, I have put in a potential short entry price (red line).

yuchaosng

Take a look at the 8 charts. The bottom shows 3 charts that hit various Fibonacci retracement levels. For the indices, the recent high is still below the top and this session (22nd Aug 2024) should show bearish reversal candle. Based on this, we can chance a short with stop loss above today's high.

yuchaosng

I am shorting this index because I think the vertical run is not sustainable. Also, I think USD/JPY is also going down. I believe the bottom trendline will be broken. Take note that this trade has a tight stop loss above today's high.

yuchaosng

I've updated the EW counts in this analysis. Basically, Gold is on the 3rd wave up and has just made new ATH. In my previous analysis, I mentioned that Gold can hit $3000. It is still valid. Does one need to wait for pull back? My suggestion is to scale in the long.

yuchaosng

This idea is based solely on HSI price hitting upper channel trendline. The ability to keep your SL tight means good risk-reward.

yuchaosng

I have identify 3 resistances that created a resistance zone: 1. Semi-tangible: Fibonacci Retracement level of 78.6% of Primary Wave 1 2. Tangible: Intermediate wave 2 of Primary wave 1 price resistances 3. Intangible: Wave C = 1.618xWaveA of Primary Wave 2 The risk-reward ratio looks good for shorting.

yuchaosng

From this chart, I have marked 8th Nov 2021 as the peak and end of the bull market for Russell 2000. This is despite the fact that S&P500 is still making new highs, a result of financial engineering. IWM is now more representative of the actual health of the US economy. From this chart, I've marked the wave 1 impulse wave down, a triple combination (3x A-B-C =...

yuchaosng

Based on my EW counts, the fall from 20th Jun to 5th Aug is a 5-waves Wave 1. The move up from then to today, 13th Aug, forms a zigzag wave 2. Based on 50% Fibonacci retracement of wave 1, and A=C for wave 2, we are able to get a convergence target of $115.73 on where wave 2 may end. A short entry from this price should be a good price for us to hold a position to...

yuchaosng

This is an update from my previous idea. There are a couple of concepts in Technical analysis that I want to share, but let's look at what's changed and what's not changed: Not Changed: 1. Still a short call. 2. The short position (SL and TP) What's changed: 1. Changed upper trendline from horizontal to slightly upward slanting. 2. Changed end point of wave 5...