Correction
EURUSD H1Hi traders, i am looking it the EURUSD chart if price go back and come around our mentioned pattern completion area then i will be looking price action for a short position opportunity, if price drop from the current area and break 0.96325 level without hiting our mentioned level then this setup will be invalidate.
Trade with your according strategy do not depend on my analysis, this analysis is just a scenario and i would love to be wrong GOOD LUCK.
(1D) S&P500 WXY DOUBLE ZIGZAG CORRECTIONPossible Double Zigzag (WXY) pattern playing out on S&P500, which started from the ATH in January and is still on going.
In my previous analysis from 2020 (linked below), I proposed that the ENTIRE history of the S&P500 so far is simply part of a 5 wave bull Impulse, which is still on going. Within this bull Impulse, we are currently in Wave 3, which itself is turning out to be an 3rd Wave Extension made up of 9 waves. This Wave 3 started at the end of the Housing Market Crash in early 2009. Of this Extended 3rd wave, the current WXY correction we are in represents Wave 8 before we resume the bull trend to complete the extended Wave 3, which will then start the 2nd major correction on the bull impulse mentioned before on the macro scale. The first major correction (Wave 2) was a 3 wave correction consisting of the Dot Com Crash and Housing Market Crash.
According to this analysis, we are still in for some pain well into the new year, so hang tight! Trade responsibly.
#EverythingIsAlreadyWritten
NZDCHF H4Hi traders, NZDCHF is setting up for a downside move i am expecting from price to come around our mentioned pattern completion area and looking price action on the top for a short position opportunity, if price drop from the current area and break 0.55091 level without hiting our mentioned entry level then this setup will be invalidate.
If you are taking this trade so please i request you trade with your according strategy do not depend on my analysis, this analysis is just a scenario and i would love to be wrong GOOD LUCK.
AUDCHF H1Hi traders, AUDCHF is setting up for a downside move watch price to complete our pattern and look price action on the top for a short position opportunity if price drop from the current area and break 0.62298 level without hiting our mentioned entry level then this setup will be invalidate.
If you are taking this trade so please i request you trade with your acourding strategy do not depend on my analysis, this analysis is just a scenario and i would love to be wrong GOOD LUCK.
EURUSD is heading towards 1,0090! The breakout of 0,9808 from yesterday, confirms the ascend of EURUSD.
The first target here will be 0,9915, followed by 0,9999.
All long positions must be closed before 1,0090!
It's important to understand, that this is only a part of a pullback from the higher timeframes and we should see a reversal to the downside soon.
This will be valid only if price doesn't break below 0,9725!
USDCADHi traders, USDCAD is setting up for a downside move watch sharp breakdown to the downside and look for a short. If price did not give us a sharp breakdown then watch price to come around our upper mentioned area and look on the top for a short position opportunity GOOD LUCK.
GBPJPY Analysis Ahead of CPI Inflation ReportWelcome back! Let me know your thoughts in the comments!
**GBPJPY - 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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chfjpy Hi traders.
On Thursday 22 of September, the Price actions violated rapidly the former support.
It has not been checked and my bias has shifted to bearish, 'cause I take into account as a supply area now.
The price action has been performing bullish impulse moves without significant correction.
With positive JPY news, this scenario can be validated even more.
Thank you for your support to the messages! I hope that I help.
Good luck!
Important levels for EURUSD We expected more upside movement on EURUSD after the low from last week.
However, it looks like the market doesn't have enough strength and we don't have a reason to buy.
The continuation up will be confirmed upon break above 0,9808.
Before that we could see another drop but right now, we don't have a sell signal either.
That's why we should wait for a better setup before taking a trade.
GBPAUD Local short and best place to buy Welcome back! Let me know your thoughts in the comments!
**GBPAUD - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Forex Academy
AUDNZDHi traders, AUDNZD is setting up for a upside move watch price to hold the bottom and look for a long position opportunity GOOD LUCK.
USDJPN correction expected?I don’t really trade Forex, unless something catches my attention.
USDJPN has been climbing for a while now. On weekly chart it is overbought and even the strongest move need to take a brake once in a while,
Either if you look on EMAs or Fibonacci levels, correction can reach area 139-141.2.
It doesn’t mean it will but according to my analisys, most of the indices look like they they’re going for an upside move. With VIX being overbought as well.
The markets might get a bit more positive until November US rates decision.
Personally I think we might not get lower than 140.
Im not a professional trader and this is not a trading advice. Trading is risky. Always do your own analisys.
Where is EURUSD going? The ascending move from yesterday didn't have enough strength to continue higher.
Now it's important to see which level will be violated next.
In case of a breakout of 0,9775, then we're probably heading to the parity level again!
However, if the market breaks below 0,9669 then we will have to see how the setup will develop later on.
Trades at current price levels are considered risky and not confirmed!
NZD CHF ANALYSIS hello traders
I will share an accurate analysis of the NZD CHF
Using waveform analysis and smart money strategy
First, the wave analysis
The main motive wave is to the downside and now the price is correcting and the correction is still not completed. We have a strong bullish wave and a bearish wave in the form of an ABC pattern.
I have to have another strong upward wave
Secondly, Smart Money
The price was moving in a downtrend and is lower high and lower low
Then there was a change in behavior and a higher high . universe
Then it is equal high and represents the liquidity, and we have confirmation of price reversal from the block of orders where the price was lower high and lower low and there was a change in behavior and the price was higher high and higher low
By 90%, the price is heading to break the level of 0.57000
Natural Gas: The supply-demand dynamic is at a critical stageDeutsche Bank reported that in a particularly critical phase is the supply-demand dynamics regarding natural gas towards the winter season, which the behavior of households will be decisive in the coming months, as their consumption represents a large percentage of total consumption. A supply failure is likely to be avoided at least as the scenarios confirm that a 20% YoY reduction in consumption this winter (and flat annual demand thereafter) is likely to lead to some shortages either early in 2023 or the winter of 2023/24.
The reduction in Germany remains at 40%, while if demand falls by only 10% YoY stocks will not be exhausted even in such a scenario. For certain, fill levels would fall below 10% in late winter 2022/23, but this would not put energy security in doubt until 2024. The European Commission is working on proposals to limit prices. While negotiating with reliable suppliers, for instance, Norway, and strengthening common markets seem to be the Commission’s preferred options, the idea of a (temporary) price cap on imported natural gas is gaining ground.
The greater the potential for the implementation of a cap the lower the success of the implementation of the first two measures. Such an implementation could lead to increase supply risks, depending on the design of such an import price cap which would accompany the mandatory demand reduction.
From an Elliot wave perspective, we will examine the Natural Gas chart to see its potential move in the short to mid-term.
Looking at the weekly chart, natural gas made an impulsive five-wave rally from the lows, which suggests that low is in place and we can expect a bigger recovery. However, in Elliott waves, after every five-wave rise we can expect a slow down in three waves, so we are tracking now an (A)-(B)-(C) correction before the uptrend resumes. First support is around 5.3 level, while second support would be around 3.5 level.
All the best!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NVDA, now has a fresh low as was predicted.! whats next?I warned about a very strong bull trap in NVDA on 28th July and now the stock has a fresh low. !
As discussed in previous idea , inverted flats in bear market are among the most difficult patterns to recognize. Lets review published idea first :
Now, What is next?
As shown on the chart , a zigzag correction is most likely forming in NVDA and the stock is currently in wave 5 of A of an ABC form of correction.
Two suggested supports are shown on the chart by green lines. These lines coincide with 0.382 and 0.618 Fibo projection of wave 1-3 from top of wave 4 which are typical for end of wave 5. Suggested wave A which is (most probably) just the first large leg of correction will probably end at these supports. This means that stock may show a considerable counter trend correction (wave B) and a resumption of down trend (Wave C ) after that. It may take 12 to 18 months from now for completion of large degree ABC zigzag form of correction.
Picture inserted in the chart was captured from a very useful book written by Frost and Prechter titled : "Elliott wave principle key to market behavior " chapter 1, figures 1.22 and 1.23. As we can see current chart beautifully resembles text book example.
Please note this analysis may need update in future since corrective waves may take some complicated forms . Should it need any update, we can do it later.
I hope this analysis to be useful and wish you all the best.
Warning ! Possibility of inverted flat and major decline !NVDA has started a rally from the latest low and brought hope for bulls.
This rally resembles 5 legs impulsive waves and MAY be a very strong Bull Trap !
Inverted flat corrections are one of the most complicated patterns in bear market. Two pictures inserted in the chart are captured from a very useful book written by Frost and Prechter titled : "Elliott wave principle key to market behavior " chapter 1, figures 1.35, 1.36, 1.37,1.40 and 1.41. Figure 1.37 shows a real example of this tempting wave pattern and major decline after completion of pattern in Dow Jones Industrial Average from Aug to Nov 1973.
The key to recognize this pattern is to recognize internal pattern of previous waves. I showed internal wave patterns of previous waves for NVDA and as you see it is very similar to text book examples.
I showed two strong resistance zones which can resist against NVDA rally and push it back down to a new low if this analysis becomes true.
These resistance zones are related to different inverted flat correction patterns : Irregular and Running . Although there are some clues for recognizing which pattern is developing before the fact by means of Fibonnaci ratios, I prefer to be conservative and take both of them into consideration for now.
Please note, we are in the world of possibilities not certainties and the scenario I suggested here is a real possibility . I do not claim that this scenario surely happens but I can confidently warn traders and investor to keep this pattern in their mind .
Good luck everybody.
ANKR Buy time #Big bull coinHello traders!
Welcome back to another episode with Analyst Aadil1000x.
After great success in CHRusdt and WOOusdt we are now buying ANKRusdt for a big bull run.
Previously I gave 100% surety for CHR and WOO but this time the surety level is a little less than 100%. Let's see what will happen in this trade as the strong bullish pattern is completed and it is ready to fly and we are ready to move with it.
ANKRusdt buy now, its a 0.03036
Stoploss 0.02810(-7.4%)
Target 1, 0.03432(+13.1%)
Final Target 0.03876(+27.7%)
Don't forget to hit the like button and follow to stay connected.
CME chart for WXYXZ correction WXYXZ correction with flat X rising wedge rally, revisiting prior idea below with C up in progress
XAUUSD LONG TRADE hello traders
In today's session, buy gold, the target is level 1727
Analysis
We have a strong support level
And a bullish impulse wave and an expanding correction pattern, we are expected to get another bullish wave
EURUSD H1 analysis Like we said yesterday, the downtrend on EURUSD is still valid and the best trading opportunities will appear as soon as price confirms another downside push.
However, it is still early to enter short and expect to see a breakout of the previous low.
We are now waiting for the pullback to continue and trick us a few more times.
That's why we should reduce the amount of trades and position size before we see a clear setup.
We could potentially see a drop to around 0,9750 and then another push higher maybe taking price above the parity level.
