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Correction

USDJPY More Downside Potential, Wait For Sell Setup USDJPY has been pushing down since it hits the previous highs to form a double top. With a ascending channel correction, price indeed reversed down impulsively, and form continuation correction along the way. Bow that we have push down more, and another consolidation has formed, usually give us a indication of more downside opportunity. Wait for current correction to complete to push the price down even more to previous lows.
Short
by jojofang0901
8
Patterns, CME Gaps & Golden Pocket RocketCheck notes on the chart. 1) Bearish Rising Wedge 2) Descending Triangle 3) Ascending Triangle Expansion Creating CME Gap, aka Futures Liquidity Gap. (These almost always get backfilled.) 4) Current Pattern, Bullish Ascending Channel. We had a fake out to flush the longs, and create liquidity, and to backfill the CME Gap. All other narratives are fun stories. We have since course corrected violently, failing to break out of the previous range, creating a Swing-Failure , which is locally bearish. This likely retraces to 23k, before a continuation higher to fill the next CME gap around $27,355 and $28,740 .. of course some profit taking, or other exogenous events such as the indexes falling could correlate with some pull backs, but ultimately I'm expecting 35k to fill this year. Strong resistance there, likely to struggle to get above. If it does, the next gaps that could be liquidity grabs are $45,000-$46,500 $52,500-$53,500 I don't believe we see a new ATH this year or next. 2025 is my target for ATH, which I believe we be a minimum of 130k and a max of 180k. I will scale out of positions between those two prices.
INDEX:BTCUSDShort
by TheTraderAndy
1
EURAUDHi EURAUD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
EURUSD Is Making A Higher Degree CorrectionEURUSD reversed sharply to the downside in the last few weeks as USD turns up across the board after new global inflation worries. So far we can see a nice and strong decline on the EURUSD, which for now is still in the making and can be even deeper in three legs (A)-(B)-(C). We still think that pair can complete a higher degree of correction around 38,2% Fibonacci retracement and 1.0480 level or even deeper around 50%-61,8% Fibo and 1.03 - 1.02 support zone.
by ew-forecast
NAS100$NAS100USD/QQQ are relatively the same pair and since that's the case i'm basing my bias off of the movement of the DXY which was bullish and is now becoming bearish. When one goes up the other goes down and vice-versa. I'm looking for NAS100 to move to the upside. Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!! Good luck and Happy trading!
OANDA:NAS100USDLong
by DTradesFX2
DXY$DXY Dollar Showed Little Reaction to CPI Data so i'm looking for the markets to act normal with no more major news ahead anytime soon. Therefore, i'm looking for DXY to drop and make a correction. Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!! Good luck and Happy trading!
TVC:DXYShort
by DTradesFX2
CRUDEOIL CORRECTION from the RESISTANCE LEVEL!!!The price perfectly fulfills my last idea. The market dropped from the resistance zone by making a impulse leg and hit the target and taken support at the given level. The price respected the support level and persisted itself at the support level . The market is pulling back after testing the resistance and impulse move. I expected growth from the support level , price also respected the support level . After Pullback price again respected the weekly strong resistance zone and again dropping towards the support zone . Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad.
MCX:CRUDEOIL1!Short
by Jha_Nidhi
2
EURUSD More USD Strength, Watch For Sell Setups EURUSD is shaping up for more downside opportunities as the price action is showing very clean bearish development. After the double tops, price begin to reverse from the ascending channel reversal. With bearish price in the lower time frames. WE can see price has finally impulse out of the structure and formed a continuation correction, also formed a Head and Shoulder pattern as well. All these are good confluences to wait for more sell setups to form on the lower time frames to give further opportunities to the downside.
Short
by jojofang0901
1
NZDCAD Watch For Bullish Price Action Looks like NZDCAD could potentially develop into the next bullish up move on the lower time frame. From the previous, impulsive phase on the higher time frame, price begin to form into a larger consolidation, correcting the price. With a few swing highs and lows, we see price finally create a smaller descending channel within the larger correction. This is a good sign to show multi-time frames are in a bullsh favor. Currently price has already push up, so wait for this current correction to complete to confirm the nex up side is ideal. Alternatively, price can just make one more short move down to to bottom of the higher time frame correction before the next up move.
Long
by jojofang0901
3
Silver Turning Up For Minimum Three Waves Silver made strong and impulsive rally since September 2022 till February 2023. A sharp drop in February from 24.50 and break below 22.50 supports suggests that metal is in a higher degree correction. That’s quite strong decline, but due to a five-wave rally earlier, we still see it as part of a complex sharp W-X-Y correction with the support here in the 61,8% - 78,6% Fibonacci retracement and 20-19 area. We can currently see a nice bounce from the support, but due to sharp leg down previously, we are tracking a minimum three-wave A/1-B/2-C/3 recovery at least up to 22.75 area for wave C or maybe even higher and back to highs for wave 3 of a new five-wave bullish impulse. Support on intraday dips is at 21.30 followed by 20.60
FOREXCOM:XAGUSD
by ew-forecast
EURUSD$EURUSD EU made a short push to the upside but couldn't push pass 1.07492 breaker after CPI. Since that's the case, I'm looking for EU to move to the downside. Disclaimer: This is not trade advice. Trading foreign currencies, stocks, indices, etc can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the financial markets, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose!!! Good luck and Happy trading!
Short
by DTradesFX2
4