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QUALCOMM (QCOM): Diversified Growth Amid DowntrendQualcomm ( NASDAQ:QCOM ) presents an intriguing setup as we believe the wave I and a larger cycle might have concluded. Following its peak, NASDAQ:QCOM has dropped nearly 30%, retracing back to the range high. To finalize wave (A), we expect an additional leg down to complete the intra 5-wave structure. The likely target lies between $143 and $133, a range that aligns well with the Point of Control (POC) from March 2020 to now. This adds confluence to its significance as a potential support zone. Despite the technical setup, we caution that the risk for a long position remains high. A more favorable entry could arise once NASDAQ:QCOM reclaims the range, validating the start of a potential bullish wave. For the current quarter, Qualcomm projects revenues between $10.5 billion and $11.3 billion, with automotive sales anticipated to rise 50% year over year. CEO Cristiano Amon’s strategy to diversify Qualcomm beyond smartphones into chips for PCs, cars, and industrial machines underscores the company’s adaptability. The next financial results release is scheduled for January 29, 2025, offering further insights into Qualcomm’s trajectory. The $143-$133 range is a key zone for potential support, bolstered by its alignment with the POC. A decisive break below this zone could invalidate the bullish outlook, while a breakout above the range high may provide an opportunity to long this stock with lower risk. The completion of wave (A) would ideally coincide with a structural turnaround. We are closely monitoring NASDAQ:QCOM for any signs of a reversal. Should the stock confirm a reclaim of the range, we may consider initiating a long position with a more precise stop-loss strategy. Until then, patience and vigilance are essential.
NASDAQ:QCOM
by freeguy_by_wmc
Gold, strong support coming inHello everyone, after the election in the US Gold started a sharp pullback and lost 9% within 2 weeks. Now the price reached very strong support zones, built from former consolidations. These zones also match with order blocs on the weekly, 4H and 1H time frame (not shown on the chart). The RSI is highly oversold and the drop was the biggest one this year. All in all I think it's time for a correction at least. According to the Elliot wave theory we finished three waves down, the C wave was formed by a five wave move which is very common on five waves. If you are interested in the micro count, let me know in the comments. The orange area shows the potential resistance for the larger B wave. The green support zone should ideally hold to keep the bullish trend alive and the upper zone shows the fifth wave targets. The price could easily extend to 3000 dollar before a major correction should come.
FXOPEN:XAUUSDLong
by Kyrean
Shopify (SHOP): Preparing for a Long-Term Entry at $49.62Considering Shopify, the situation is unfolding as we anticipated. We expected the beginning of 2024 to potentially mark the peak for Shopify with the completion of Wave (1), indicating a Wave 2 correction. This correction is likely to find support between the 63.8% and 78.6% retracement levels. Currently, the pattern is showing lower lows and lower highs, suggesting that further price declines may occur, potentially closing existing gaps. Our strategy is still developing, but we plan to place a long-term entry at $49.62 with a stop-loss at $31.
NYSE:SHOPLong
by freeguy_by_wmc
USDCAD Buying ideaAs indicated by the drawings. There are some things we need to understand . 1. The resistance zone one the Hour , and the 4 Hrs TF which are used for the analysis , rather intraday bias has been Violated . 2 observe keenly that after the break, there has been a undoubted close of the candle above the resistance zone showing that the bulkish market as per the breking hour is unchallenged. 3. Observe a consolodation of different players in the market structure has been observed prior the break 4. What we expect next after an impulsive move is a corrective move. 5. We wait for the bearish correction upto the last breaking structural zone to tap out the structural pool for a confirmation of the entries.
Long
by DIGITALASSETSINC
2
Gold (XAUUSD): Is a Long-Term Cycle Ending Soon?We came across a long-term view of TVC:GOLD on the monthly chart, and it’s hard to ignore what it suggests. Since 1980, Gold has shown clear Elliott Wave structures, with Wave III respecting key Fibonacci extension levels. Now, we appear to be concluding Wave V, which could mark the end of a multi-decade cycle. While the RSI on the monthly timeframe is overbought, it’s not definitive on its own. However, when paired with the chart structure, it raises concerns. We expect a potential max price for Gold at $3,000, a significant psychological level. If this marks the end of Wave V, Gold could retrace to a range of $1,400-$1,700 as part of a major correction. An alternate scenario is that we’re still concluding Wave III, with more upside left. Either way, we anticipate a short-term push above the current trend channel, targeting $2,910-$3,000, before a correction for Wave (4). Alternatively, breaking the trend channel prematurely could trigger the start of this correction sooner than expected. Our short-term target is $2,420-$2,150 before resuming a push to $2,900-$3,000. Alerts are set, and we’ll provide updates or potential setups as this unfolds.
CAPITALCOM:GOLDShort
by freeguy_by_wmc
Visa (V): Pullback Incoming After New All-Time HighsVisa ( NYSE:V ) has reached our anticipated wave 3 target, a significant milestone for this stock that has consistently delivered strong performance. Recently, regulators in the EU have begun probing Visa and MasterCard’s fees, assessing their impact on businesses. While this could pose some risks, Visa’s overall trajectory remains promising. The stock has been setting new all-time highs consistently, but with the potential completion of wave ((v)) and wave 3, we are now looking for a pullback. This correction could offer a great opportunity to open new long positions. Our target range for the pullback is between $280 and $260, though the exact level remains uncertain. Before this, there could still be further upside, with a potential minor retracement between $311 and $325 that would support a bearish short-term outlook. We are monitoring this closely and have alerts set to act when the time is right. Visa remains a long-term performer, but patience will be key to capitalizing on its next move.
NYSE:VLong
by freeguy_by_wmc
IS XAUUSD CORRECTION OVERIn my recent analysises I warned that a significant correction is xauusd correction in xauusd prices was inveitable. True to this predication the election of Donald Trump triggered a sharp 1000 minus pips dropin xauusd value However yesterday the market rebounded strongly recovering 700 pips from that intial decline. The big question now is wether this correction has run its course in my view we may have reached a bottom and xauusd could be poised to resume its overall uptrend. im currently looking for buying oppurtunities on dips.
OANDA:XAUUSDShort
by GoldMarketKiller
1
Amazon (AMZN): Approaching critical resistance!Amazon continues its impressive rise, moving out of our initial sharp Wave (2) scenario. Despite the bullish momentum fueled by last Thursday’s earnings report, we remain cautious and are still leaning towards a potential larger pullback. The company showed strong performance in key segments, with CEO Andy Jassy’s strategic focus on expenditure and cost-cutting delivering an 11% revenue increase to $158.9 billion, surpassing analysts’ expectations. Now, Amazon has reached our second key turnaround zone, between $201 and $220. A move higher would invalidate our bearish outlook, but until then, we are preparing for a potential pullback and targeting lower entry points to capitalize on future upward swings. The stock has recently posted a nearly perfect equal high, alongside a bearish divergence, which could signal an upcoming correction. The looming U.S. elections could inject significant volatility into Amazon’s price action, with potential wicks forming in either direction. While a move up to $220 would still be considered valid within this structure, we are closely monitoring these levels. As always, we will update you once the bearish scenario is confirmed or invalidated.
NASDAQ:AMZN
by freeguy_by_wmc
Airbnb (ABNB): Bearish Setup or a Bullish Surprise?After finding support at $113, Airbnb NASDAQ:ABNB is experiencing a rapid rise, efficiently collecting all the imbalances left behind from the previous drop. As we approach Airbnb’s earnings report this Thursday, the company is expected to post a year-over-year decline in earnings, despite higher revenues for the quarter ending September 2024. The sustainability of any immediate price changes and future expectations will largely depend on management’s discussion during the earnings call. While we don’t base our strategy solely on the earnings outcome, it’s crucial to note that a favorable outlook from management could give the stock a short-term boost. Still, despite the potential for this optimism, our analysis remains bearish on NASDAQ:ABNB for the foreseeable future. Technically, the 61.8% Fibonacci level aligns perfectly with the point of control from the past three years, offering a strong setup. If this level is reached, it would also complete the filling of any remaining price imbalances. This makes for a compelling hedge against our other swing-long positions. We aren’t setting a limit order just yet. We prefer to observe the market’s reaction to the earnings report before making a move. This could mean placing the limit order the following day, depending on how NASDAQ:ABNB behaves during and after the earnings call. For now, we remain patient and prepared.
NASDAQ:ABNBShort
by freeguy_by_wmc
Nasdaq (NDX): US Election Hype vs RealityThe US Elections are just around the corner – a global event that everyone is eagerly anticipating. But the big question remains: Will the election results really have a massive impact on the financial markets? Or, at the end of the day, does it even matter who wins – Kamala Harris or Donald Trump? 🤔 We shared our view months ago: It doesn’t matter who takes the presidency. We firmly believe that a major market correction is inevitable, regardless of the election outcome. The timing? Impossible to predict. But one thing is clear: the warning signs are everywhere. From rising unemployment and skyrocketing debt to relentless inflation, the economic data paints a bleak picture, reinforcing our thesis. Looking at the weekly NASDAQ:NDX chart, a drop of over 20% could definitely happen. This isn’t something to ignore. But even in the middle of this chaos, there is a golden opportunity: A significant downturn could present a rare chance to accumulate high-quality assets at very cheap prices. This could be the moment to build a perfect portfolio, positioning yourself for long-term gains when the market rebounds. So, how should you approach this? See the upcoming volatility as an opportunity, not a threat. Secure your open positions, stay adaptable, keep an eye on the markets, and buy strong assets undervalued. And most importantly: Sit back and enjoy the show that both the markets and the political landscape are about to deliver! 🍿
NASDAQ:NDXShort
by freeguy_by_wmc
2
Goldman Sachs (GS): Ready for a Big Correction?As we projected four months ago, Goldman Sachs ( NYSE:GS ) has reached our anticipated upside range between $516 and $575, touching $540 specifically. We've reinforced our analysis with a trend line dating back to 2016, which has been tested and validated three times. Combining this trend line, the Elliott wave count, and key Fibonacci levels, our outlook now points towards a significant pullback from current levels. Given that we're likely dealing with a larger Elliott wave cycle, we anticipate a substantial correction of around 28%. While a 28% decline sounds extreme, it's not unprecedented for $GS. The drop from the top of wave 3 to the bottom of wave 4 was 35%, and the decline from wave (1) to (2) was almost 50%. Even smaller corrections within these larger waves illustrate that major pullbacks are essential for long-term growth, especially as institutional investors take profits. With Goldman Sachs having gained 87% year-to-date—a remarkable rise in this sector—a correction is likely as big players start locking in their gains. We aren't sure yet how this correction will unfold, but we anticipate a sharper, quicker drop compared to the more prolonged wave (2) correction. A potential support level for wave A could be around $420. Meanwhile, wave C and the overarching wave (4) are expected to land between $366 and $264. We are not setting a limit order at the moment but have alerts in place for both scenarios: whether we call the exact top here or see NYSE:GS push higher before pulling back. Either way, we'll be ready and will update you as the situation evolves.
NYSE:GSShort
by freeguy_by_wmc
Coca-Cola (KO): Pullback Opportunity as Limit Order FillsOur first limit order for Coca-Cola was filled last Friday as the stock retraced over 11% from its peak at the upper trendline. Despite Coca-Cola's management expressing confidence in their recent performance, investors remain cautious. Zoran Bogdanovic, CEO of Coca-Cola HBC AG, stated, “I am pleased that our Q3 results build on the strength of our first half... However, we remain mindful of macroeconomic and geopolitical challenges.” This pullback appears to be a natural and necessary correction. Coca-Cola is typically a slow-moving, stable stock, and its surprising 43% rise over the past year warranted a healthy correction. The RSI is inching closer to the oversold zone, and a hidden bullish divergence is forming, lending support to our long-term bullish outlook. We’re prepared for a deeper retracement and have a second limit order set in the middle of the golden pocket (50-61.8% Fibonacci retracement), just above the Point of Control (POC). Given Coca-Cola’s reputation as a stable “safe haven” stock rather than a volatile investment, we’re maintaining a patient and calculated approach.
NYSE:KOLong
by freeguy_by_wmc
Apple(AAPL): Down 7% – Is This the Opportunity We’ve Waited For?Apple’s stock has experienced a 7% decline over the past 10 days. What’s behind this drop? The fall came despite Apple slightly beating analysts’ expectations for the September quarter, driven mainly by a rebound in iPhone sales. During the fourth-quarter earnings call, CEO Tim Cook discussed positive developments in China but declined to speculate on economic stimulus impacts, noting stable year-over-year performance, partially aided by favorable foreign exchange rates. From a technical analysis perspective, everything is lining up perfectly. Our limit order remains unchanged. The formation of an exact double top points to the possibility of a flat pattern, which typically leads to a double bottom. This anticipated double bottom would align with the volume profile’s range high, offering additional support to key Fibonacci levels. Our stop-loss placement is secure, positioned below the support zone and the Point of Control (POC). We’ve set a time horizon for the wave ((ii)) to complete, and we believe this setup could result in a promising swing long position heading into Q1 or Q2 of 2025. If the chart develops as we hope, there may even be an opportunity to open a short position to hedge our long exposure. Until then, we’re prepared for another potential 12% drop, waiting patiently to execute our plan.
NASDAQ:AAPLLong
by freeguy_by_wmc
3
AMD (AMD): Trendline test coming - crucial for bullish case!Following the completion of wave 3, NASDAQ:AMD has also completed wave 4 with a near-perfect correction at the 78.6% Fibonacci retracement level. The rapid V-shaped recovery after the drop validates our count and points to continued bullish momentum as long as key support levels hold. AMD’s earnings report on Tuesday aligned with forecasts but projected slightly weaker revenue than expected for the upcoming quarter. This led to a 6% decline in after-hours trading, raising concerns about potential deceleration in AMD’s overall business, even as the company remains a key player in the AI chip sector alongside its competitor, Nvidia. From a technical perspective, NASDAQ:AMD now faces a crucial test. The stock must break through the resistance zone between $162 and $174 to confirm further upside potential. Failing to do so could result in a pullback to the trendline, a level that has been respected several times since early 2023. As long as the stock remains above the $120 level, we maintain our bullish outlook. However, losing this level would confirm a bearish trend shift. We expect continued volatility, particularly post-earnings, and will monitor for a potential move higher or consolidation around these resistance levels. We are optimistic about AMD’s prospects but await further developments at this critical juncture.
NASDAQ:AMDLong
by freeguy_by_wmc
Chipotle (CMG): Awaiting strong correction in bearish waveAfter the recent 50-1 stock split, we revisited Chipotle's chart, refining our analysis for a clearer picture. With the adjusted setup, we’re more confident in our outlook for a potential bearish correction. Our initial turn-around zone was spot-on when factoring in the split, and we remain committed to our analysis. Today, NYSE:CMG reached the targeted Wave B area at the 61.8%-78.6% Fibonacci level. Immediate reactions are often rare, but we believe a reversal could materialize soon. We’re eyeing the range between $43-$26, near the trendline, as a potential target zone for the next phase in this corrective wave pattern. In the second quarter, Chipotle posted an 18.2% year-over-year revenue growth, boosted by an 11.1% rise in comparable restaurant sales and over 8% transaction growth. The earnings report tomorrow will likely attract more investor attention, but our approach focuses on technical entries at key levels rather than earnings reactions. We have alerts set and are prepared to buy when the scenario aligns. Until then, patience and disciplined timing will guide our approach.
NYSE:CMGShort
by freeguy_by_wmc
Ford (F): Eyeing Earnings for Potential Resistance FlipFord is set to release its earnings report in a few hours, and analysts generally anticipate that results will meet or slightly exceed consensus expectations. Currently, Ford is trading around a significant resistance level, and a breakout above this level could mark an important shift, opening the door for further gains. Our outlook remains bullish, with expectations that Ford will fill the large gap visible on the chart in the coming months. Recent analyst targets align with our view, with ratings from Barclays, Goldman Sachs, and Morgan Stanley averaging around $13 for Ford stock. This target range corresponds well with our technical analysis, reinforcing our approach to Ford. However, we’re holding off on any immediate action until after the earnings report to avoid an unpredictable reaction. We’ll be monitoring the market’s response closely, avoiding impulsive moves, as the true direction often becomes clearer after the initial post-earnings volatility. Until then, patience remains crucial—trade the plan, stay disciplined, and seize the opportunity when it aligns with our setup.
NYSE:FLong
by freeguy_by_wmc
2
Deutsche Bank (DBK): Earnings beat but loan losses double We missed the optimal entry for Deutsche Bank (DBK), but the analysis was accurate overall. The earnings report showed some resilience with a revenue increase of 5.2% year-over-year, reaching €7.50 billion, slightly above analyst expectations of €7.30 billion. The stock reacted with a modest dip, but nothing significant. However, Deutsche Bank reported a notable rise in loan losses, which doubled to €494 million in Q3 2024 compared to €245 million a year ago, aligning closely with the €482 million forecasted by analysts. From a technical standpoint, our primary count still appears valid, though it’s a bit on the lower side. This could indicate that wave 3 might not be the longest wave in this count, which is atypical but possible as long as it’s not the shortest. We’re targeting a potential endpoint for wave 5 within the HTF resistance zone, aligning with the 50-61.8% Fibonacci extension level, where we could look for a long position if the setup confirms. We will continue to monitor DBK closely as this potential target level nears and adjust accordingly.
XETR:DBK
by freeguy_by_wmc
Gold's next probable direction & a safe zone for a Buy entry I am also starting to see some downturn in Gold and Silver prices, mostly from momentum indicators which simply can't sustain the bullish momentum session after session. But I don't think its a big correction, only 4% down from the current Gold price, this is a Fib level of support for price but this Fib level also coincides (ties-in) with recent market structure support. Down below I will give some details of a Gold short I took today in Asia Friday and about 1 hour ago. Interestingly, the Gold price started to slightly sell off Lol, as if I am the only Gold-trader today in the Asia region.
EIGHTCAP:XAUUSDShort
by Easy_Explosive_Trading
Silver (XAGUSD): Anticipating a correction after new local highsTwo out of our three Silver positions remain active, with Silver reaching a remarkable high near $35. Today, we decided to fully close our second position, locking in substantial gains. The first position, initiated at $26.30, will remain open with a stop loss placed slightly below $26, aligning with the high-timeframe support and wave 1 level. Given current analysis, a correction in Silver may be on the horizon after reaching the minimum target for wave 3. With increased Treasury yields and some profit-taking, Silver could face resistance in climbing further, especially considering the upward trend in yields. While we cannot predict the exact speed of this potential downturn, if it unfolds as expected, we’ll look to re-enter with Silver certificates around the $30 to $28.30 range. The ideal correction would see a pullback toward the volume range high and a subsequent bounce within the 61.8%-78.6% Fibonacci zone, which we’ll confirm once wave ((a)) is established. Stay patient and focused, as volatility is expected to rise with the upcoming presidential elections.
OANDA:XAGUSD
by freeguy_by_wmc