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Elliott Wave

GOLD → Countertrend correction, retest of 3345 before growthFX:XAUUSD , undergoing a deep correction after a false breakout of local resistance at 3433, has reached the support of the upward trend. Will the bulls be able to maintain the trend? Gold held below $3,400 on Friday, rebounding from $3,350, and is poised to end the week higher. Investors are watching the conflict between Thailand and Cambodia, which is boosting demand for safe-haven assets, and are also awaiting decisions from the Fed and the Bank of Japan next week. The markets received additional support from US trade deals with Asian countries and progress in negotiations with the EU, easing fears of a tariff war. As part of the correction, gold is testing trend support and the 3345-3337 zone of interest. A false breakdown, lack of downward momentum, and bulls holding prices above 3345 could trigger growth and a continuation of the main upward trend. Resistance levels: 3375, 3383 Support levels: 3345, 3337, 3330 Technically, the support level of 3345 plays a fairly important role in the market. If, during the correction, the bulls manage to hold their ground above this zone, the prospects for recovery will be high, especially against the backdrop of geopolitical problems. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
12
BITCOIN → Correction within a downward channel. 112K or 125K?BINANCE:BTCUSDT is consolidating. However, a local downward trading range is forming relative to the current setup. What is the probability of a correction continuing to 112K or growth to 125K? Daily structure: a local correctional channel within a global bullish trend. We have cascading resistance at 119.2, 119.6, 120, and 120.8. It will be quite difficult to break through this zone on the first attempt, but MM can use it to form traps and collect liquidity. At the bottom, everything is simpler — a breakdown of the local bullish structure, the formation of an intermediate minimum, below which there is a void down to 112K. Yesterday, relative to 115-116K, mm staged a massacre (trap) on both sides of the market. Liquidity collection, return to the range, and growth. The reaction to the false breakdown of support is quite strong. Since the opening of the session, Bitcoin has been heading towards resistance, but there may not be enough potential to break through the upper resistance conglomerate, so I expect to see a pullback or decline to 116-115-114. Resistance levels: 119.2, 120.1, 120.85 Support levels: 116.37, 115.67, 112 Technically and fundamentally, I do not see any drivers that could support the market (I am talking about Bitcoin, since the driver for altcoins is the decline in Bitcoin's dominance). It is possible that this may appear later. In the current situation, I am considering a false breakout and correction, as the market has not yet finished consolidating or correcting, and the current downward trading range may be extended. PS: As the price moves towards resistance, it is necessary to monitor the reaction. The market itself will show what it is preparing for... Best regards, R. Linda!
Short
by RLinda
10
Bitcoin Correction Maturing – Long Setup Brewing!Bitcoin ( BINANCE:BTCUSDT ) has fallen by more than -4% over the past day. Let's take a look at the reasons for the decline. One of the key reasons behind Bitcoin’s decline in the past 24 hours ( July 25 ) could be the reduced likelihood of Jerome Powell being replaced as Chair of the Federal Reserve. In recent days, market participants were speculating that Donald Trump might replace Powell — a scenario that was considered bullish for risk assets like Bitcoin. However, recent reports of a meeting between Trump and Powell, and signs that Powell might not be dismissed, have weakened this fundamental narrative. This meeting may signal a truce or reduced tension between Trump’s team and Powell , which could imply a continuation of current Fed policies. That’s bad news for Bitcoin, as it removes a potential psychological tailwind from the market and dampens speculative sentiment. As a result: Over $500 million in liquidations(Long Positions) occurred Weak inflows into Bitcoin ETFs A stronger U.S. Dollar Index ( TVC:DXY ) And declining Gold( OANDA:XAUUSD ) prices over the past two days all added additional selling pressure on BTC. Now let's take a look at Bitcoin's conditions on the 4-hour time frame . Bitcoin currently appears to have broken the Support zone($116,900-$115,730) , Support lines , 100_SMA(4-hour TF) , and the lower line of the Symmetrical Triangle Pattern with a bearish Marubozu candle . Note : In general, trading was difficult when Bitcoin was inside a symmetrical triangle (about 10 days). It also seems that the pullback to these zones has ended and Bitcoin is waiting for the next decline . In terms of Elliott Wave theory , Bitcoin appears to be completing microwave 5 of microwave C of major wave 4 . There is a possibility that main wave 4 will create a descending channel and complete at the bottom of the descending channel (at Potential Reversal Zone(PRZ) ). I expect Bitcoin to start rising again after completing the CME Gap($115,060-$114,947) from Cumulative Long Liquidation Leverage($114,480-$114,000) or Cumulative Long Liquidation Leverage($113,284-$112,603) near the PRZ and Heavy Support zone($111,980-$105,820) . Cumulative Short Liquidation Leverage: $117,904-$116,665 Cumulative Short Liquidation Leverage: $121,046-$119,761 Do you think Bitcoin has entered a major correction, or does it still have a chance to create a new ATH? Please respect each other's ideas and express them politely if you agree or disagree. Bitcoin Analyze (BTCUSDT), 4-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
11
GBPUSD → Retest of previously broken resistance...FX:GBPUSD has entered a correction phase after breaking through the local downtrend. If the price remains in the 1.3450–1.346 zone, this will confirm the formation of a new trading range... The market is entering a correction phase due to the dollar. A countertrend retest of the support zone is forming. Earlier, the currency pair broke the local trend and is entering a flat phase. The retest of support may end with a recovery. If, within the local movement and after a false breakout of the 1.345 - 1.3467 zone, the bulls keep the price above the buying zone, then in the short and medium term, we can expect growth to continue. Support levels: 1.3467, 1.345 Resistance levels: 1.35, 1.3584 A false breakdown of support at 1.3467 will confirm a change in the local trend (correction). The market may return to the recovery phase of the global trend. Best regards, R. Linda!
Long
by RLinda
5
ALGO rejects at yOpen — Mapping High-Conviction Trade ZonesALGO has delivered an impressive +124% rally from $0.1518 to $0.336 in just 25 days, completing a 5-wave Elliott impulse right into the yearly open resistance. We are now in a correction phase, and the current structure is showing a head and shoulders pattern, with the right shoulder currently forming. Let’s break down the key levels and setups. 🧩 Technical Breakdown ➡️ ABC Corrective Structure: Targeting wave C near the trend-based fib extension (TBFE) at $0.2574 ➡️ Fib Retracement Confluence: 0.382 retracement of the entire 5-wave move → $0.2656 Previous weekly open (pwOpen) → $0.2639 Liquidity pocket likely to be swept Anchored VWAP from the $0.1518 low (start of the bullish trend) → currently at $0.2532, acting as a major support layer Conclusion: Long opportunity zone between $0.2656–$0.2574 Trade Setups 🔴 Short Setup: Why? ALGO has lost dOpen and pdOpen — a bearish sign for downward continuation. Entry Zone: Between dOpen and pdOpen Stop-loss: Above dOpen Target (TP): 0.382 fib retracement (~$0.2656) R:R: ≈ 1:3.5 🟢 Long Setup: Entry Zone: Laddered Entries between $0.2656–$0.2574 Stop-loss: Below anchored VWAP (~$0.2532) Target (TP): ~$0.2785+ R:R: ≈ 1:2.65 🛠 Indicator Note I’m using my own indicator called "DriftLine - Pivot Open Zones " for this analysis, which I recently published. ✅ Feel free to use it in your own analysis! Just head over to my profile → “Scripts” tab → apply it directly to your charts. 💡 Educational Insight: Why Confluence Matters High-probability trades aren’t based on just one tool or level — they come from confluence, where multiple signals align: fib levels, VWAP, liquidity pools, price structures , and key levels. For example, in this ALGO setup, it’s not just the fib retracement or just the VWAP — it’s the stacking of all these elements together that creates a precise zone with a better statistical edge. ✍️ Lesson: Don’t chase trades off single signals; stack tools for confirmation.

 Patience, confirmation, and confluence — as always, the keys to high-probability setups. 🚀 _________________________________ 💬 If you found this helpful, drop a like and comment! Want breakdowns of other charts? Leave your requests below.
Short
by SiDec
5
XRP → ATH retest. Reversal or continued growth?BINANCE:XRPUSDT.P is rallying and ready to test the resistance zone - ATH. Against this backdrop, Bitcoin is consolidating after a bull run. The liquidity pool may hold back growth. Fundamentally, there is excitement across the entire cryptocurrency market. Altcoins are rallying after Bitcoin hit a new high and entered consolidation. The BTC.D index is declining, which generally provides a good opportunity for altcoins to grow. However, the index is approaching technical support, which may affect market sentiment overall... As for XRP, there is a fairly strong liquidity pool ahead — the ATH resistance zone. The price is in a distribution phase after a change in character and a breakout of the downtrend resistance in the 2.33 zone. The momentum may exhaust its potential to break through the 3.35-3.34 zone, and growth may be halted for correction or reversal (in correlation with Bitcoin's dominance in the market). Resistance levels: 3.35-3.40 Support levels: 3.0, 2.64 A breakout of resistance without the possibility of further growth, a return of the price below the level (i.e., inside the global flat) will confirm the fact of a false breakout of resistance, which may trigger a correction or even a reversal. Best regards, R. Linda!
Long
by RLinda
8
PENGU Topping Out? Targeting 30% Downside After Liquidity SweepPENGU has had an explosive run, but it now looks to be nearing completion of wave 5 of its current Elliott impulse. We’re approaching a key high at $0.04698, a likely liquidity grab zone — and potentially a great area to position for a short trade. 🧩 Short Setup Overview ➡️ Wave 5 Completion Incoming: Price is showing signs of exhaustion as it approaches $0.04698, where liquidity is likely stacked above the previous high. ➡️ SFP Trigger Zone: Watch for a swing failure pattern (SFP) at $0.04698 — confirmation for a potential short entry. ➡️ Psychological Resistance: The $0.05 level also sits just above — a classic psychological barrier that may get tapped or wicked into. 🔴 Short Trade Setup Entry: After a confirmed SFP at $0.04698–$0.05 Target (TP): Yearly Open (yOpen) — potential move of ~30% Stop-loss: Above post-SFP high R:R: Excellent asymmetry if setup confirms 🛠 Indicator Note In this analysis I'm using my own indicator called "DriftLine - Pivot Open Zones ", which I recently published. ✅ It helps highlight key open levels, support/resistance zones, and price structure shifts — all critical for confluence-based trade planning. Feel free to check it out — you can use it for free by heading to my profile under the “Scripts” tab. 💡 Educational Insight: How to Trade Wave 5 Liquidity Sweeps Wave 5 tops often trap late longs, especially when paired with psychological levels and key highs. ➡️ Patience is key — wait for a rejection pattern or SFP before entering. ➡️ Liquidity sweeps first — then the move. Final Thoughts PENGU is pushing toward $0.04698–$0.05, but this may be its final move up before correction. With the yearly open as a logical target, and clear confluence via DriftLine, this setup offers a clean short opportunity — if confirmation comes. Stay sharp, let price lead, and trade the reaction — not the prediction. _________________________________ 💬 If you found this helpful, drop a like and comment! Want breakdowns of other charts? Leave your requests below.
Short
by SiDec
5
SUI Analysis (6H)If you're on the hunt for extreme risks and potentially high rewards — SUI might be calling your name. Currently, SUI is trending within a well-respected ascending channel, and just today, it tapped both the demand zone and the lower boundary of this channel. That’s what we call a double support, and it often signals a strong potential bounce. SUI now appears to be forming a bullish flag pattern. If this formation breaks to the upside, it could trigger the fifth impulsive wave in line with Elliott Wave Theory. In such a case, the main target is projected around $5.00–$5.20. Extreme setups demand extreme conviction. Good luck.
Long
by vs_sayin
2
Bitcoin Long: Completion of Sub-wave 4, riding wave 5I updated the Elliott Wave counts for Bitcoin and we should have completed sub-wave 4 and is currently onto sub-wave 5. Based on my counts, sub-wave 3 has extended and is slightly more than 1.618x of wave 1, thus I expect sub-wave 5 to NOT extend. Based on Fibonacci extensions, the price target is around $124,600. The stop loss for this idea is around $114,600. Towards to end of the video, I zoomed out for Bitcoin and observed that Cycle level wave 1 and 3 are HUGE (red font) and the current Cycle Wave 5 looks too small. Thus, the entire 5-wave structure of what we are going through now may be just a Sub-Wave 1 of Cycle Wave 5. And that means that longer-term, Bitcoin may really go to $200,000 and beyond. But for traders, keep our foot on the ground and trade what is in front of us. Good luck!
BINANCE:BTCUSDLong
by yuchaosng
XLM Explodes +132% — Is the Party Over or Just Starting?XLM has been one of the top movers, sweeping the January 2025 swing high at $0.515 before stalling and moving sideways for the past 4 days. Is XLM gearing up for another push toward the highs, or is a correction imminent? Let’s dive into the details. 🧩 Market Structure & Fractal Pattern XLM skyrocketed +132% in just 13 days, mirroring the explosive move seen back in November 2024. If we apply the November fractal, the current price action suggests we could be setting up for an ABC corrective move. 📉 Key Levels & Confluences FVG Zone: ~$0.49–$0.50 — likely to be swept before any major move down. Monthly Support: $0.4142 Key Level / Liquidity Pool: $0.4056 — likely cluster of stop-losses. Anchored VWAP (from $0.2228 start of trend): currently near $0.4056, adding strong confluence. 1.0 Trend-Based Fib Extension (ABC projection): If price pushes to ~$0.49 to complete wave B, the projected 1.0 TBFE for wave C lands right on the $0.4056 key level + VWAP, creating a perfect confluence zone. ➡️ Conclusion: The $0.4142–$0.4056 zone is a critical support and liquidity area with multiple confluences lining up. Trade Setups 🔴 Short Setup: Entry zone: $0.48–$0.50 (ladder in) Stop-loss: Above $0.5166 (prior high) Take-profit: $0.4142–$0.4056 zone R:R ≈ 1:3 🟢 Long Setup: Entry zone: $0.4142–$0.4056 (preferably near VWAP) Stop-loss: Below $0.395 Take-profit: $0.44 ⚡ Final Thoughts Watch for a potential final push toward $0.49–$0.50 before a corrective wave unfolds. The confluence at the $0.4142–$0.4056 zone — including monthly/weekly levels, VWAP, liquidity pool, and the 1.0 TBFE target — makes it a key area for decision-making. Stay patient and wait for confirmation at these levels. Will post an update as things unfold! _________________________________ 💬 If you found this helpful, drop a like and comment! Want breakdowns of other charts? Leave your requests below.
Short
by SiDec
7
ENA Analysis (3D)ENA has been outperforming many altcoins for weeks, yet it still appears undervalued based on its fundamentals and recent investor interest. Where to buy? Right now, buying at current levels is extremely risky, as the ideal buy-back zones are significantly below the market price. First major support: $0.48 — considered a "cheap" entry. Dream entry (low probability): $0.37–$0.38 — at that point, ENA would feel almost free. Notably, BlackRock and its partners are actively investing in ENA, which speaks volumes about its long-term credibility. That alone justifies keeping it on your radar. Minimum target: $1.00–$1.20 Remember, that’s just the beginning. We may see even more once momentum kicks in. Sometimes, the best trade is the one you're waiting for. Good luck.
Long
by vs_sayin
Nasdaq Short: Completion of 5 waves with wave 5=wave 1Over here, I present a short case for Nasdaq (and S&P500 by default since their correlations are high). The main reasons are: 1. Completion of 5 waves structure both on the high degree and on low degree, as shown in the chart. 2. Fibonacci measurement where wave 1 = wave 5. The stop of this idea is to be placed slightly above the high, in this case, I placed it at around 23320. The take profit target is at the bottom of primary wave 4, around 20685. Take note that this is a positional short, meaning the strategy is to short and hold and periodically adjust your stop loss based on unfolding on wave structure. Sizing is based on your risk tolerance. Good luck!
OANDA:NAS100USDShort
by yuchaosng
EUR/USD – The Cleanest Buy Setup EUR/USD – The Cleanest Buy Setup This Quarter (Wave E Targeting New Highs) --- 📄 TradingView explanation 📊 EUR/USD 4H Chart Analysis The pair has beautifully respected the corrective channel from Wave C to D and is now preparing for the final leg — Wave E. 🟦 Key Highlights: 🔹 Price bouncing off demand zone 🔹 Tight consolidation near mid-channel = accumulation 🔹 Next targets: 1.1900 / 1.2050 🔹 Bullish continuation expected after liquidity sweep 🎯 The cleanest and most technically sound buy opportunity this quarter — align your longs with the trend before the breakout happens. 💬 Let them call it a bubble — we call it precision and patience. 🧠💸 #ElliottWave #EURUSD #ForexSetups #SmartMoneyMoves ?
by Greenfireforex
GOLD → Countertrend correction. Where will growth begin?FX:XAUUSD faced pressure in the 3430 zone, traders moved into profit-taking mode, triggering a correction. The price entered the sell-off zone... On Thursday, gold is trading below $3400 as traders assess progress in US-EU trade talks and await preliminary PMI data from the US and the EU. These indicators could influence expectations for Fed and ECB rates. Optimism is being bolstered by reports of trade agreements between the US and Japan and other countries. The ECB is expected to keep rates unchanged, while the probability of a Fed rate cut in September is estimated at 60%. Investors are also watching Trump's conflict with Powell amid his visit to the Fed. Technically, the daily market structure is not broken, and a correction is forming within acceptable limits. Based on the current direction, the market may test the intermediate bottom: trend support, the 3345-3320 area. Resistance levels: 3375, 3383, 3400. Support levels: 3345, 3320 A retest of resistance at 3375-3383 is possible. If the bears keep the price below this zone, the metal may continue its correction phase towards the zone of interest indicated on the chart. Local sell-offs have not yet broken the bullish daily structure. However, the absence of a downward impulse and consolidation in 3375 - 3383 with a subsequent breakout of local resistance could increase demand again, which would generally lead to premature growth to 3400 - 3435. Best regards, R. Linda!
FX:XAUUSDLong
by RLinda
15
Is $PENGU Cooling Off?CSECY:PENGU continues to deliver, respecting structure and printing some clean price action. After breaking out of consolidation beneath the LOI at 0.032, price extended sharply, reaching as high as 0.0469—where we just saw a firm rejection, previously identified in the last update. That level wasn’t random. It aligned with a Most Likely Target (MLT) for a wave 5 at a lesser degree and a wave 3 at a higher degree. That kind of confluence usually draws in some heat—and it did. So what now? The conservative bull outlook is that we may be entering a wave 4. How this pullback unfolds could tell us a lot. The last retrace was shallow, and if this one digs a bit deeper or breaks certain levels with pattern clarity, that might signal a higher degree wave 4 is underway. The key level here is the 0.0325 level we were watching before. The raging bull scenario is that we’re still in a lesser degree impulse up. A hold and bounce off the key level could be enough to continue the move higher. But I’m watching the conservative outlook here until we get more print. Here’s what I’m watching: • Wave 4 Behavior Is this a pause or a pivot? The next leg depends on how corrective this gets. • 0.027 A break here would raise eyebrows. That’s a deeper level of interest and could hint at something more than a minor pullback. • Pattern Depth & Structure Each retrace tells a story. More complex wave 4s tend to show themselves through drawn-out corrections or deeper fib targets. I’m still holding partial from the original 0.012 entry, having taken some profit on the way up. If we get a clean W4 print, I’ll be scouting for the next add. Trade what’s printed. Stay flexible. Let the wave show its hand. Trade Safe. Trade Clarity.
Long
by CryptoKnee
1