GBPCAD → Retest the area of interest before growthFX:GBPCAD is closing the imbalance area as part of a countertrend correction and consolidating below the 0.5 Fibonacci level. What's next, growth or decline?
The global trend is upward, and the situation is classic: the market needs energy and liquidity to continue growing.
Locally, we see that as part of a countertrend correction, the market is closing the imbalance area, but at the same time forming consolidation below 0.5 Fibonacci, still leaving the zone of interest and order block below 1.84600 untouched.
Technically, there is a fairly high probability of continued growth, provided that the price ends its consolidation with a breakout of the 1.85690 resistance and consolidates above 0.5 Fibonacci.
Resistance levels: 1.85690, 1.8657
Support levels: 1.84986, 1.846, 1.8417
However, as an additional and, in my opinion, the most important scenario, I still consider a complete closure of the fvg and a retest of the 0.7-0.79 zone, within which the order block is located. A false breakdown of the zone of interest and the capture of liquidity could attract additional interest, which would trigger growth.
Best regards, R. Linda!
Elliott Wave
Ethereum: Eyeing New Highs?Ethereum has surged recently and continues rising in turquoise wave B. The next target is a break above the June high, with potential upside to resistance at $4,107. A direct breakout above this level (27% probability) would suggest green wave alt. ended in April. However, our main scenario expects a reversal below $4,107, with turquoise wave C likely dragging ETH into the Long Target Zone between $935.82 and $494.15 to complete wave .
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AAVE Potential 1-2/1-2I´m keeping an eye on a quick pullback on AAVE for a potential 1-2/1-2.
The thesis is that black 2 finished in the 50% pullback and we´re currently finishing blue 1.
Blue 2´s pullback would be a great opportunity for long trades with a very tight stop loss.
The gray zone, with gave us a fake breakout for black 1, may be the temporary resistance for blue 1.
USDCAD offers good R:R opportunityAs the price corrected, its forming a falling wedges pattern. And the best thing is all the new lower low was appear alongside the higher low on MACD, it's such a strong BULLISH DIVERGENCE signal.
I believe in the next 2-3 trading days, 100-150 pips upward movement is very likely to happen.
C98USDT – Potential Impulse Wave 3 in Progress? | Elliott WaveHello traders! 🚀
Sharing a fresh Elliott Wave setup I'm currently monitoring on C98USDT (4H TF). The price structure is unfolding clearly and may be in the early phase of a classic 5-wave impulse.
After an impulsive move up completing Wave (1), the market corrected in a textbook ABC pattern down into a key demand zone, finishing Wave (2). We’re now seeing strong bullish momentum suggesting the beginning of Wave (3) – the longest and most aggressive wave in Elliott theory. ⚡
Trade Setup:
🟢 Entry Zone: 0.043 – 0.046
🔴 Stop Loss: 0.03913
🎯 Target Price: 0.05955
💡 Note: Always manage your risk and confirm with your own analysis before entering any trade.
Let me know your thoughts and wave count below! 👇
Happy trading! 🚀
NuScale Power strong setup formingI believe SMR is set for long rise as strong impulse will continue. This idea, of course, will take some time before we see double and triple price from now ($36). I expect swings up and down within a few weeks before trend up resumes.
Now to EW analysis. Price completed purple wave (3) of green (1) which is a part of black wave (iii). So now I expect it to go down around 38% to 68% of purple (3) and will accumulate.
Then is shall take some time for green (1) and then (2) to complete. Here we might have significant price drop with the count invalidation level at around $11.2. I don't expect this however EW rules allow to have it. Once green wave (2) is completed, the stock will fly.
SMR is an innovative manufacturer of small nuclear modular reactors. It is the only one which got the license from US nuclear authorities in this field. They do much work to install first reactors by 2030 for the first customers.
In general, data centres and progressing AI boom will be in need for energy and together with policies being shifted away from solar/wind as the only green clean energy, reliable energy sources might be long-term winners.
Currently, the company holds strong balance sheet and makes little money however work towards strengthen legal position and get contracts.
I plan to accumulate sizeable amount during upcoming volatility to build long position.
Gold is Nearing an Important Support AreaHey Traders, in today's trading session we are monitoring XAUUSD for a buying opportunity around 3,340 zone, Gold is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 3,340 support and resistance area.
Trade safe, Joe.
Elliott Wave Analysis: Potential Correction AheadThe overarching 5-wave structure from January 9, 2025, to today is nearing completion. We are currently in Wave 5, with the subordinate Wave 3 in progress. Within this, the sub-subordinate Wave 5 is just starting. Once the overarching Wave 5 concludes, expect a multi-week correction. The correction is projected to target levels between 1.1173 and 1.075.
$RIOT Continues to Follow PathNASDAQ:RIOT Is sticking closely to the plan testing the bottom and top of the channel multiple times.
Price closing above the weekly 200EMA and weekly pivot Friday will be a very bullish signal. As we have over 4 tests of the upper boundary resistance there is a high probability we break through and continue higher in a high degree wave 3.
Initial targets are the weekly R5 pivot at $39 and all time high at range at $79.
Price tested the .618 Fibonnaci retracement in a complex correction for wave 2.
Analysis is invalidated below the channel support.
Safe trading
$MSTR Megatrend Continuation?NASDAQ:MSTR is market leader in the CRYPTOCAP:BTC strategic reserves strategy and has set the benchmark.
After a nearly 20x rally profit take is exceptive, price has held up extremely well through the last 6 months only dropping to the .236 Fibonacci retracement and weekly pivot. As Bitcoin continues into price discovery expect the MSTR rally to continue with renewed tailwinds.
It is an extremely hated stock as well as its collection of yield baring derivatives. The keeps the social mood / sentiment low which could prove further tailwind for growth.
I am looking at a terminal target this cycle of around $1500 at the R5 weekly pivot.
Safe trading
$WULF Critical Resistance!NASDAQ:WULF has had a great come back but has just hit a triple sword resistance: weekly 200EMA, weekly pivot and High Volume Node where I expect it to struggle for a while!
Are CRYPTOCAP:BTC miners the new altcoins?
Bullish continuation through these resistances will flip them to support and demonstrate fundamental resilience on an improving macro economic background overcoming technical analysis.
Long term tailwind potential can be as high a10x from here but more realistic targets are the R3 weekly pivot $17 and R5 weekly pivot at $25.
Analysis is invalidated below the high degree wave (4) of a leading (or ending) diagonal Elliot Wave pattern.
Safe trading
$JSESOL - Sasol: 5301 cps The Key Level To WatchTrade summary:
The major correction from 43860 cps has seen the share price decline by 87.91%.
The decline traced out a zigzag pattern and has potentially bottomed at 5301 cps, which is the key invalidation level.
The bounce from 5301 can be labelled as a five-wave advance when looked at in the daily timeframe.
Any retracement must hold above 5301 cps for the bullish outlook to remain valid.
$IREN Killing It. More Upside?NASDAQ:IREN has poked above the true all time high range (Launch price dump excluded) in a high degree Elliot wave 3
Long term target remains the R5 weekly pivot at $40 but may over extend with a bullish Bitcoin and Macro economic tailwind, coupled with AI growth.
Many thought this was a greedy target at $5 but now that price is $16 it doesn't look so bad. You have to know when to let the runners run, that is were the big bucks are trading!
Any retracement of a decent degree should expect to find support at the weekly pivot $9.4 before continuing upwards and may present an excellent buying opportunity! I will be posting the signal levels on Substack.
As always ,all time high range will be the next support if price continues upwards from here.
Safe trading
$IREN Killing It. More Upside?NASDAQ:IREN has poked above the true all time high range (Launch price dump excluded) in a high degree Elliot wave 3
Long term target remains the R5 weekly pivot at $40 but may over extend with a bullish Bitcoin and Macro economic tailwind, coupled with AI growth.
Many thought this was a greedy target at $5 but now that price is $16 it doesn't look so bad. You have to know when to let the runners run, that is were the big bucks are trading!
Any retracement of a decent degree should expect to find support at the weekly pivot $9.4 before continuing upwards and may present an excellent buying opportunity! I will be posting the signal levels on Substack.
As always ,all time high range will be the next support if price continues upwards from here.
Safe trading
Crypto Market Completes A Correction Within Bullish TrendGood morning Crypto traders! We got a nice bounce and recovery in the Crypto market along with stock market rally after US President Donald Trump announced that Iran and Israel had agreed to a ceasefire, calling the conflict “The 12-Day War.”. Crypto TOTAL market cap chart now shows that correction is completed, support is in place and bulls back, so more upside can be seen in upcoming days/weeks, just be aware of short-term intraday pullbacks.
$TSLA Time to Fade or..?NASDAQ:TSLA (like NASDAQ:GOOG ) is standing out to me as bullish, yet, corrective Elliot Waves a higher degree series of ABCs appear to be underway.
A final wave C appears to be underway which would take price too all time highs in an expanded flat correction pattern. My count could be wrong and the interference could be from the increase it sentiment volatility connected to the US headlines lately and Trump posting on socials. Things may get back to normal after the summer and a clearer pattern may emerge.
Price is struggling to get past the weekly pivot point bullishly or the weekly 200EMS bearishly and is trapped within that range.
For now long term target is the R2 daily pivot at $693 as the higher probability is continued upside
Safe trading
$SPX500 Most Hated Rally to Continue?FOREXCOM:SPX500 continues into price discovery suggesting a wave (3) is still underway but nearing a its minimum target of the 1.618 Fibonacci extension target $6310. Overextension of this target will demonstrate an even stronger bullish outlook.
Long term terminal targets remains above $7000 for me.
A short term pull back is a high probability but markets can stay irrational longer than participants can stay liquid.
Safe trading
Gold Breakout Retest – Will PRZ Trigger the Next Rally?Gold ( OANDA:XAUUSD ) attacked the Resistance lines and Resistance zone($3,350-$3,326) as I expected in yesterday's idea .
Gold seems to have broken the Resistance zone($3,350-$3,326) and Resistance lines and is pulling back to this zone.
In terms of Elliott Wave theory , Gold appears to have completed wave 3 and is currently completing wave 4 .
I expect Gold to have a chance to rise back to the Resistance zone($3,394-$3,366) after entering the Potential Reversal Zone(PRZ) .
Note: Stop Loss (SL) = $3,297=Worst SL
Gold Analyze (XAUUSD), 1-hour time frame.
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