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New update for Novavax (elliot waves)My weekend analysis for $NVAX Finally, we are starting to build the long expecting and hopping final wave 5 of the primary cycle corrective wave C. It was a running flat structure, which is a rare structure, that is why it was a tricky one to understand from the beginning. I have inserted some supply and demand areas in order to understand better where we will find supports and resistances and also where the price is "magnetizing" to go. On the 2h chart, we see a shooting star candle, which is confirmed, and then the gap down. Now is building up a SHS pattern, in which the right shoulder will be the wave 2 of the wave 5. It is already at 50% retracement, which is inside the area of a wave 2 target and also inside the resent daily supply zone. I am expecting to be rejected from there, but it can always go further up and maybe close the gap from yesterday before going down again. The SHS pattern if it triggers, the target coincidences with the wave 3 fib. My target area is at 38$ to 30$.
NShort
by FiboSnail
USDCAD > Impressive Setup for A Buy!!Analysis on #USDCAD Looking at the chart you can see the USDCAD might be forming a bullish harmonic bat pattern and an ABCD harmonic pattern as well on the hourly chart, this pattern if completed it will happen in an area that has not been tested before but the market showed a bullish momentum to the upside from that zone near 1.2670 which I predicted many times before. >> If the market comes to my structure support zone near 1.2670 where the market turned bullish in the past, I will then look for a conservative buying trade with a good risk to reward if the entry rules are met. ________________________________________ Dear Traders, the best "T h a n k Y o u" will be your likes and comments! Thanks for your continued support! ________________________________________ Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only*
by TheTradersAvenue
1
BTCUSD Analysis By AVNGL (SECOND TRY)This second analysis test on BTC/USD It is trying to expose in a simplified way thetrend changes in daily candles for the basic understanding of this very funny and volatile wave market. Remember that the markets have to be studied for their cyclical and undulating nature, in the price/emotion relationship. --- (ANNOUNCMENT) & (REMINDER): Last Sunday I could not publish the largest analysis that I have saved and the first to expose with greater seriousness, however next Sunday I will be ready with better and more details for any type of market studen --- II hope to be of help. A huge greeting, and have a good week.
COINBASE:BTCUSD
by AVNGL01
Albemarle (ALB) Is Currently At 205; Wait For Retracement At 215Last week I suggested shorting Albemarle (ALB) if it pushed through the many levels of support and closed below 215 in price. Technical analysis in the form of chart patterns like descending triangles, double tops, multiple downward spikes, an increase in volume on the uptrend, and the Fibonacci retracement along with a close below a long-term upward trendline suggested that it was poised to fall. We couldn’t for sure confirm that it was in a downtrend because it had not yet been established with the 1-2-3 method. There was also a large head and shoulders pattern that was not confirmed. However, closing at 211 (price) on the 24th of January confirmed this pattern. Your profits would have been massive if you had jumped in short 215 as I suggested and placed a tight stop just above one of my resistance levels (between 216 and 219). A bailout when the price reached its floor of 196, anything between 4.5 and a 9 to 1. Take into consideration that all the confluence pointed to a massive drop, and in these situations, I like to keep my stop-loss tight to maximize profit-taking. It is risky, and there is a chance you may get stopped out, but that occurs with every trade. I was spot on in this scenario, and a 9 to 1 win is a pretty sweet deal. Now, if you missed the trade and are kicking yourself (and you should be), don’t worry because the retracement is in progress. Using the Fibonacci retracement again, we can see that the 38% level is at 215, exactly right up against all those resistance (former support levels) levels. It is highly unlikely that Albemarle (ALB) is going to recover from this price drop in the next couple of days. We can now be on the lookout for a symmetrical triangle (created by the new low at 196) and a possible channel establishing the downtrend further. If you are brave enough, you can put in a limit at 215 and place your stop-loss at 216. If prices drops to 196, your profits will be 19 to 1. Remember that besides having all the resistance at 215, 215 is a round number where many traders are possibly holding their position. This means that price will most likely find it difficult to move higher. This also means that the price may not hit 215 because of the number of traders who have shorted there, so it's better to get in at 214. A healthier (and smarter) trade would be to put your limit in at the Fibonacci retracement level of 38% (price 215) and put your stop-loss above the 50% Fibonacci level (price 221). This will give you ample stoppage room and space for the trade to breathe when it attempts to retrace to its highs. This will prove difficult because of all the resistance in its way, though. Take into consideration that price may push to the Fibonacci 50% or 62% levels because of the channel forming before the drop continues.
CAPITALCOM:ALBShort
by DevlonJarrodHorne
GBPAUD > Simple and Classic Trend Continuation Setup!!Friends I hope you are feeling kind and generous today to give the idea the likes and comments it deserves. Analysis on #GBPAUD Simple and classic trend continuation setup, this one is easy, but I have to wait for the market when it gets near the trendline support and structure support level to see what the market will provide as a reason for entry Thank you so much for your support. Check today analysis below⠀ >>“ Only trade when the probabilities of the market going in your favor are greater than it going against you." TradingAxis
by TheTradersAvenue
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