xauusd. Expecting for this early weekday 2023 05 15
This is my plan for Monday.
IMHO xauusd will bounch at 0.618 level and go down again to level a and c leg.
And then I'm expecting the big correction ended, and it will go back to the main uptrend.
Let's see what the market will perform in this early weekday.
Please CMIIW.
Please share your thoughts. Thank you...
Elliottwaveanalyis
Bictoin Elliott wave count 4hPrice action didn`t changed too much from my last analysis ( see the related idea).
After a break below 26525 price recovered this level and now is acting like support.
Price rejected 2 times by the median channel line (red channel).
Important resistance 0.5 fib retracement of the last swing down if it break it price may reach 30000 level again.
A break below 26525 may send the price into an important support zone 24262-25256.
Under 30000 level bitcoin still remain into a bearish zone.
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XAUUSD DAILY TIMEFRAME FORECASTI have tried many scenario on Gold, and i prefer this projection as my trading plan.
Invalidation level at 1949.77, means, in the short term Gold continue to bullish before making major correction on Wave 4 as you can see at the picture.
Elliott Wave is high subjective, i will post if there's a new update on my perspective.
Trade safe, Everyone!
Cheers
AVAX Elliott wave Daily countAVAX is trading now into an important support zone.
If the price will go impulsive up I wont see this good as it will make an abc (blue count) flat correction for a wave B from a flat correction at a bigger degree (red count) that will turn de price down again.
All I want too see is to break now this support zone ( at least under 13.864 level, previously low) to complete a WXY complex correction and than to go up maybe for a wave 3.
If you have questions feel free to ask, also I want to see your thoughts about AVAX.
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UPDATE ON XAUUSDHere's an update:
1st Scenario: Still on complex correction, the time XAUUSD hit all time high at 2078 was not a motive according to fibonacci (subjective), there's still a chance XAUUSD to go sideway until CPI or Core PPI release.
2nd Scenario: subwave v of (v) was truncated --> Ready for Major Correction.
I prefer to wait until structure and pattern formed.
Elliott Wave is high subjective, i will post if there's a new update on my perspective.
Trade safe, Everyone!
Cheers
XAUUSD FORECASTI know almost all forecast on XAUUSD choose Triangle Scenario, So here's my perspective as WXY Corrective.
Elliott Wave's perspective is highly subjective, in my opinion, Invalidation Level is needed as all technical analysis is just an art of probabilities.
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Bitcoin Elliott wave count 4HBitcoin price still can be counted as a sideway move (down red channel) as the price hits 1:1 proportion W vs Y of a possible WXY correction for a wave 2.
Price still stay into an up channel(green channel) of a possible impulse ended at 31050.
For wave 2 I think is still early to be ended as the price did not hit even 0.382 fib retracement of this up move and the time that passed from the drop start did not hit even 0.5 of the time that took to go up(25 June vertical green line).
The price action at this time still favors a move to the downside and a break of the red channel bottom line may increase the selling orders. Also a break above median line of the red channel may turn the price up.
We still have a strong support at the 24200 - 25200 but if it will be break the gates are opened until 19500 zone.
Good luck, hit the like button if you like my analysis and follow me for future count updates. Thank you!
Looking for long in PRZ
IMHO For me it is too late now to take a shot position. I can't find any good RR ratio anymore.
But, if I see an opportunity to go short with a good RR ratio, I will go short untill the PRZ has reached.
Meanwhile, I am looking for a long position some where between 1987 and 1998 in PRZ.
But it will me a correction wave. So let's see how the market perform the corrective wave before taking any position.
Please CMIIW, comment, and give me your though. I will very appreciate it.
Thank you.
Bitcoin Elliott wave count 6HBitcoin price bounced after publishing CPI index and this favors a June month without FED changing the rate.
As I said previously if the price keep up the 0.382 fib retracement we may continue with a 5th wave to the upside.
Probably we have a Triangle consolidation for 4th wave (blue triangle) and is very logical after wave 2 being an extended flat from the rules of alternation. Also we may have a B wave (red triangle) a triangle as you well know the B wave of a triangle is usually complex.
A break above 0.764-0.854 fib retracement, comparing C wave, will invalidated the triangle pattern. Also a break below AC (blue count) will invalidate the triangle pattern as I am expecting into this zone to turn down for E wave.
So after all I said we may still stay into this annoying consolidation a couple of days but the things are looking good if this count is correct.
Good luck and give a like if you like my analysis also follow me for future count updates.
BTC Elliott Wave count 4H TFI think Bitcoin needs a deeper correction to move higher.
WXY correction on the table if this is not the beginning of something bigger to the downside.
As we stay above 19568 it may use last impulse (C wave in my count) to go higher.
Other important levels 26935 and 24050.
Good luck!
Bitcoin Wyckoff and Elliott WaveThis is the structure I have been discussing on Twitter, YouTube, and elsewhere since the June 2022 swing low. Wyckoff methodology indicates that it is likely accumulation. The Elliott Wave count may or may not be correct locally. We want to see an impulsive breakout above that ascending red dashed resistance to signal that the wave ((ii)) flat structure may be complete, but a breakout above wave (b) is required to add confidence to that count. Further breakdown has a target of the daily pivot. If the count is correct, then wave ((iii)) of 3 has a minimum expected target of $42350 from here. The Daily RSI is printing hidden bullish divergence at the moment, but we need confirmation that it is complete. The daily Stoch RSI has reset into oversold, so a breakout of oversold would add more support to the idea that wave ((ii)) is complete. We can also note the red parabola. While price remains above that curved line we should continue to expect higher, overall, rather than a larger pullback.
Let's see if we can get that rally from somewhere around this area.
BTC Elliott Wave count 4H TFBitcoin may fall down in 5 waves and this is not good!
Probably we had an ABC zigzag correction to the upside with wave C hitting 1.272 fib extension (31050) of wave A with wave B an extended flat correction.
Probably wave 3 from this move to the downside that started from 31050 zone is ended and we may see a correction to the upside for wave 4 into 0.382 - 0.5 fib retracement zone of the wave 3 (blue count).
MATICUSDT | Wave Projection | 4-Wave Correction - Subwave B?Price action and chart pattern trading setup
TFD - Elliott wave analysis
> A possible 4-wave correction descending triangle with subwave B breakout expected to retraced 0.618 - 0.786 of subwave A scenario.
> Entry @ breakout triangle after downtrend subwave c completely retraced
> Target @ 5-wave upper resistance zone 1.618 wave 4 extension and 2.618 wave 1 extension + 30-40%
> Risk reward ratio could be 3:1
Indicator: RSI bullish momentum
Always trade with affordable risk and respect your stoploss
BTC Elliott Wave count 15 min TF Bitcoin going up with a V shape recovery what I think it may be a 5th sub wave of a 3rd wave from a C or 3 bigger degree (watch related idea).
Nice impulse here with 5th wave being extended wave after an equality between 1 and 3.
The correction may end into the 0.5 fib retracement area where we have the 4th wave and than probably will start a 3rd wave up.
I will post updates on this count soon as I see more price action.
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