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.
Correction
CADJPY I It will correct upward (LONG)Welcome back! Let me know your thoughts in the comments!
** CADJPY Analysis - Listen to video!
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BITCOIN TO $31K WHO'S WITH ME?first analysis for the year on bitcoin, in this analysis, we noticed price broke-out from a long time continuation correction. i see some nice setups on bitcoin for confirming a bullish momentum for bitcoin.
i see bitcoin to $31k soon
WHAT ARE WE EXPECTING:
a bullish rally (impulse)
HOW DO WE ENTER:
a break of trendline followed by a correction (bullish rejection candle formation)
TRADE INVALIDATION:
when bearish continuation pattern forms
TRADE CRITERIA:
3:1
double bottom
candle formation
THANKS FOR READING
AS ALWAYS TRADE SAFE AND STAY SAFE!!
Silver Turning Up For Minimum Three Waves
Silver made strong and impulsive rally since September 2022 till February 2023. A sharp drop in February from 24.50 and break below 22.50 supports suggests that metal is in a higher degree correction. That’s quite strong decline, but due to a five-wave rally earlier, we still see it as part of a complex sharp W-X-Y correction with the support here in the 61,8% - 78,6% Fibonacci retracement and 20-19 area.
We can currently see a nice bounce from the support, but due to sharp leg down previously, we are tracking a minimum three-wave A/1-B/2-C/3 recovery at least up to 22.75 area for wave C or maybe even higher and back to highs for wave 3 of a new five-wave bullish impulse.
Support on intraday dips is at 21.30 followed by 20.60
EURUSD after CPIEURUSD after ICP
The news has passed but there were no good entry opportunities.
No new trades at the current levels as well.
Pullback from the support level at 1,0600 is needed in order to get into buys.
No grounds for sell trades too, at the moment!
That’s why it’s better to wait for the development and to look at another instruments meanwhile.
Tomorrow the interest rates from the ECB will be published, which will also have an impact.
EURUSD$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!
GOLD : Is Rug Pull near to corner ?OANDA:XAUUSD
Hi , Trader's ..gold bullish move was because of SVB Bank collapse
Now market is extremely over bought ,
Market need's to do minimum 50% retracement near 1880 area first tp
Tp 2 1855 area in extension where 50 and 200 ema
market can give sharp downtrend
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EURUSD before CPI US inflation data will be released today.
This is one of the most important news stories right now and it will have an impact.
To enter EURUSD, we will wait for the news to pass.
For a buy entry, the target is a drop to 1.0600 and a pushback.
We will only consider a sell option after the news when leaving a tail above 1.0750.
USDJPY$USDJPY It's been a crazy time in the world and in the markets.
UJ has dropped and now it's heading back to the upside.
I'm looking for price to reach 133.594 for starters before continuing on up.
Everyone have a safe and prosperous trading week.
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!
XAUUSD: Gold Correction Is due OANDA:XAUUSD
Hi , Trader's ..As u can see after collapse of silicon valley bank , Gold shotup heavily
Now Market needs a correction down to 1860 area , 50% correction is due now
Gold is heavily overbought in All TF now , Market seems to be unstable
There is big Gap opening which need's to be filled
1900-1909 area will be reversal area for gold
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No trades on EURUSD EURUSD passed above previous tops around 1,0700 and it’s likely to continue.
There are no current entry opportunities after the hike.
It’s better to wait for correction or reversal with good ratio.
An important news for USD is due tomorrow.
An important resistance level will be 1,0840, while the support is at 1,0640.
DXYPullback, we'll see what the market does upon it's opening.
DXY bias looks like it wants to continue to the downslide.
Now that the dust has settle from NFP i'm looking for a push to the downside in the coming week.
Everyone have a safe and enjoyable Sunday.
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!
EURAUD I Potential correction downward from supply zoneWelcome back! Let me know your thoughts in the comments!
** EURUAD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Thanks for your continued support!
NZDUSD, Potential Short to Double Bottom Price action has been moving within a falling wedge structure which as we know is a reversal structure in nature. We may get another leg down to a double bottom area before price climbs up as we can see a corrective movement after a strong impulse this past week.
I will wait to see if price is able to retest the upper boundary of the wedge structure to give a sell opportunity.
Thanks
Trade Safe
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NAS100$NAS100USD NFP had the markets in shambles and unclear of direction today 3/10/23.
Now that the dust has settle i'm looking for a push to the upside in the coming week.
Everyone have a safe and enjoyable weekend.
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!
US30$US30 NFP had the markets in shambles and unclear of direction today 3/10/23.
Now that the dust has settle i'm looking for a push to the upside in the coming week.
Everyone have a safe and enjoyable weekend.
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!
Watch BTC closley ...Check out my last analysis about bitcoin, it gives you great vision about what's going on.
clearly there was an impulse wave as i counted in the chart and now the correction is happening but this but this correction is going to take a little bit more time to finish . I demonstrated a authentic supply zone in the chart. You can start buying when the downtrend got weak and there was a divergence in the RSI indicator
EURUSD before NFPEURUSD is at important resistance level before today’s US job data.
They are an important indicator of the development of the economy and are monitored by the FED when deciding on interest rates.
We will watch for a pullback from the resistance zone and a selling opportunity.
We will look for an entry after the news when pullback from the zone.
In the case of an impulse rise, no trades is entered into!
JPM, Completion of 32 YEARS Bull Run?Is 9 months correction enough for completion of 32 years bull run ?
Started at 3.21 on 1990 and ended at ATH , JPM most probably has completed an impulsive section of a large degree wave cycle and currently is in first leg of 3 legs ABC form of correction.
As shown on the chart by green horizontal lines, JPM has so far retraced back around 0.382 of whole impulsive section which is acceptable but not typical for correction of bull run of this size. More typical Retracements are 0.618 Golden Ratio and 0.786 levels which suggest 68 or even 39.5 USD for JPM bottom !!. For now, I give more chance to 0.618 level (68 USD) which coincides with strong static support related to top of wave (1).
Timing is most difficult and of course least accurate task in charting and technical analysis however, we can extract some clues from chart:
First : So far , we had 9 months of correction which I suppose is not enough at all for 32 years bull run.
Second: if we use time Fibonacci for 32 years impulsive section and consider lowest Fibonacci level which is 0.236 , we reach to 7.5 years !!. Therefore, correction MAY last for some years.
Third: labeled wave (2) (intermediate degree ) correction lasted for 9 years from 2000 to 2009. If our suggested wave count becomes true, we are now in larger degree wave 2 (primary degree) which supports our expectation about multi years correction.
Please note dotted red arrow on the chart is more optimistic than 7.5 years correction related to 0.236 Fibonacci level.
Our wave count confirmation condition is a trade below what is labeled as wave (4) . This means there is one bullish case scenario which suggest the decline from ATH to be just the correction of what has been labeled as wave (5). In this case, our suggested wave count needs a major update.
Some important and educational notes:
1. Chart is very similar to NASDAQ. This remind us importance of index analysis.
2. Wave (2) retraced 0.786 of wave (1) a typical one. wave (4) retraced back 0.5 of wave (3) , another typical one.
3. Elliott waves alternation guideline is beautifully observable on the chart : Wave (2) is broad and long lasting wave (9 years) while wave (4) is a sharp one ( just 3 months).
To warp up, If we are a day or swing trader we can use the benefit of lots of ups and downs in the rout of the chart by choosing strong and efficient strategy (Please keep in mind that chart is on monthly time frame). But if we are a long term investor, we need some strong bullish signs and events in the stock and whole market to start investing in JPM, something much more stronger than just one day bounce back or a daily bullish candle.
Hope this analysis and explanations to be useful and wish you all the best.