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Elliottwaveprojection

APEUSD | Wave Analysis | Bullish Triangle ABCDE ProjectionPrice action and chart pattern trading setup > A possible upcoming bullish triangle ABCDE wave within 1-2 months > B-wave retraced 0.786 of A-wave and recent C-wave retraced exactly 0.786 of B-wave. > Expecting uptrend D-wave at 0.786 of C-wave with an inverted head n shoulders reversal pattern. > Entry: head n shoulders breakout > Target: D-wave position +30%+ > Stoploss: right shoulder -10% > RRR: 3:1 Indicator: > MACD above signal line just below 0. > RSI bullish momentum rebounded from MA line Nothing is 100%, always trade with affordable risk and respect your stoploss
ALong
by dukeposh
TKN | Wave Analysis | Possible Upcoming Impulse 3-Wave ForecastPrice action and chart pattern trading setup > Wave pattern: 2-Wave Triangle ABCDE - possible upcoming wave E before rising impulse 3 wave. > Entry: Support level SMMA50 and SMMA20 @ 0.618 and 0.786 retracement zone > Target: 3 -wave triangle breakout plus distance of the triangle channel 1.272 extension zone of main 1-wave +15-20% > Stoploss: Lower triangle support zone -7-8% > Risk reward ratio: 3:1 Always trade with affordable risk and respect your stoploss
SET:TKNLong
by dukeposh
Next Top Is...Minor wave 1 may have finished today, slight chance of it finishing if a new low occurs shortly after the open tomorrow. For now, Minor wave 1 was 3 days. Wave 2 will likely be similar in length. Historical relationships point to a possible top around 4000. There is not much news until the Fed so we could meander upward for a few days while we wait. I do expect Minor wave 3 to be a very sharp drop in the order of 300+ points over 3-6 days which would be fueled by a larger than expected Fed hike and/or hawkish comments afterward. Minor wave 1 has been eventful so far, we shall see what happens next.
SP:SPX
by StockSignaler
USDJPY approaching BIG 148 Intervenion level. Wil BOJ act?The bulls are getting nervous on USDJPY as BoJ once again repeats potential intervention on the FX markets because of weak JPY which is not good for imports. Technically, we see pair trapped in a wave four consolidation which can be a flat or a triangle as first leg A and then B unfolded in three legs. As such, we still think that the current price move in 141-145 range is a correction that belongs to an ongoing uptrend. We see a nice important level around 148, especially if we consider levels back in 1998. That said, we believe that USDJPY is in some very late stages of a recent recovery, but short-term structure not showing a top yet!
by ew-forecast
2
USDNOK Can Fall Hard If Neckline Is BrokenUSD came down last week as sentiment changed when ECB raised rates by 75bp, so it appears that the USD will now give some moves back as other CB trying to follow the FED. We have also seen some rally on crud, as demand can increase as we approach the winter. Higher crude oil will have a positive impact on some commodity currencies, like NOK, CAD and even MXN, especially during the USD weakness. As such, we have decided to look at the USDNOK today as this one can have the most downside potential. On a daily chart we can see that price came nicely higher last year, but recovery from 2021 low is overlapping which normally means it's a corrective price action. We see this as a higher degree pause in wave B that can be coming to an end after recent turn down from Fibo. cluster resistance area. The divergence line on the RSI also suggests that bulls can be done, especially if we consider the Head & Shoulders top formation. However, a trendline near 9.6 must be broken to confirm lower prices into the third wave of a decline.
by ew-forecast