XAGUSD Buy trade. Multiply your account 50 times with a perfect text book elliot wave correction setup. we are in the up trend and we will buy the ABC correction at current levels.
Elliott Wave
Gold Short: Walkthrough of Wave Counts and H&SThis is the video walkthrough of the Elliott Wave Analysis of Gold that I posted 8 hours earlier. I made an update to the head-and-shoulders in this video and discusses the change in neckline. I also discuss about why I chose to label the waves as they are and how they might have been labelled otherwise. In the end, this is still a short call but with the H&S tilt shifted down.
I realised that I missed out on how to do the profit target, but please refer to the linked static idea for the profit target and stop loss. Thank you!
Gold Short: H&S and Wave 3 downOver here, I've labelled all the waves breakdown as well as drawing a tilted head-and-shoulders. I believe that we are going into a wave 3 (minute degree) that is supported by the formation of the right shoulder.
I expect the neckline to be broken which will then goes down to the first resistance provided by the lower blue trendline.
The next resistance in green will be our first TP target. This is where we can choose to reduce the position, or to adjust the stop loss down in order to ride the position. As the lower target cannot be seen without squeezing the chart and causing the waves breakdowns to be unclear, I will update again when that happens.
The stop loss is above the right shoulder.
Good luck!
APTOS MarketCap#Apt presents a strong motive diagonal on its all-time market cap chart, quite different from the price chart due to ongoing token unlocks.
It’s still in an ongoing correction since Dec 2024, with more downside likely before the major structure completes.
APT: The Solid Range#Aptos is a solid project that has traded within the same range ($3–$20) since its late 2022 launch.
Currently, #APT is in the demand zone of this long-term range.
A strong rebound is likely from current levels as long as $3 holds as the stop-loss.
Ripple Potential UpsidesHey Traders, in today's trading session we are monitoring XRPUSDT for a buying opportunity around 2.16 zone, Ripple is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 2.16 support and resistance area.
Trade safe, Joe.
GOLD → Consolidation ahead of news. What to expect?FX:XAUUSD is consolidating. Focus on 3370 - 3269. Economic data is expected tomorrow, and gold is likely to trade within the consolidation range for several days.
Optimism about US trade talks with key partners boosted risk appetite and supported the dollar. The US Treasury Secretary reported progress with India, while President Trump softened his rhetoric on China, which also strengthened the dollar. At the same time, traders took a wait-and-see stance ahead of the release of US GDP data for the first quarter. If the figures turn out to be weak, gold could rise sharply as a safe-haven asset. Thus, the gold market remains sensitive to trade news and macro data, especially against the backdrop of rebalancing at the end of April.
At the moment, as part of the current momentum and correction, I expect prices to recover from the 0.5 - 0.7 Fibonacci zone. Gold may test 3323-3325 before resuming its correction within the consolidation.
Resistance levels: 3323, 3352, 3370
Support levels: 3290, 3270
Traders are waiting for a resolution in the tariff dispute as well as economic data due tomorrow. However, while the price is consolidating, I expect a rebound from support. BUT! If the price continues to squeeze towards any boundary, with priority to support, then the chances of a breakout from the consolidation base may increase.
Best regards, R. Linda!
NZDCHF → The global bearish trend may continueFX:NZDCHF has been within a local upward wedge pattern for a long time. A breakout of support could trigger a continuation of the downtrend.
After breaking through the wedge support, the currency pair is one step away from the start of the realization. The focus is on consolidation at 0.4982 - 0.4919. A breakout of support could trigger a decline in the currency pair amid a weakening NZD and a rising dollar index, which overall creates a negative backdrop for the pair.
A retest of the previously broken boundary of the figure or resistance at 0.4953 is possible before the decline continues, but a consolidation of the price below 0.4918 will be a good signal for the start of the movement.
Resistance levels: 0.4953, 0.4981
Support levels: 0.4918, 0.4872
Trend pressure plays an important role, as does the fact that the price is coming out of a wedge consolidation. The breakout is directed towards the main trend, and price consolidation below the key support will only confirm this.
Best regards, R. Linda!
EWTSU eurousd H1 subminuette wave (y) update
EWTSU eurousd H1 update
The three-wave corrective move (w)(x)(y) appears to be over
micro wave ((5)) should follow in 5 waves
invalidation : area 1.1330
Cocoa short: End of double combination As depicted in this chart, I believe that cocoa is going to go down after finishing a double combination correction up. We should be going down in a C wave. The stop loss is above the double top.
Take note that the double top also stop around previous wave 4 end (blue line).
XAUUSD_2HUpdate Gold
Wave ABC which is currently in wave B in a corrective triangle of five waves abcde
and could continue to fall for wave C to $3166
Main and important resistance 3360
Short resistance 3321
EURUSD Short: Completion of Double CombinationThis is the Elliott Wave counts for EURUSD. I go through the wave counts from weekly degree then drill down to the 15mins for trading purpose. I suggested 3 entry points as a scaling-in strategy to trade this. Important for this is, as usual, the stop loss.
LINKUSDT → Consolidation. One step away from a rally?BINANCE:LINKUSDT entered a consolidation phase after breaking out of a downward channel. This is a fairly positive sign that buyers are building up momentum ahead of a possible breakout of resistance.
Exit from the downward price channel, distribution, and transition of the market to a consolidation phase: 15.275 - 14.400. Bitcoin is forming positive dynamics, which supports altcoins. The local alt season may continue if Bitcoin continues to grow after breaking through 95K. If LINK breaks through the resistance level of 15.275, this move could trigger further growth
Resistance levels: 15.275, 15.942
Support levels: 14.400, 14.266
At the moment, the mood of altcoins depends on Bitcoin, as it is receiving support amid positive fundamental data in the US and the global economy. However, for LINK, the focus is on the current consolidation. If the resistance level is not broken on the first attempt, it may happen during the next retest. Before that, the price may test the consolidation support with a false breakdown, which could create an imbalance in favor of buyers, only increasing the chances of growth and a breakout of resistance, provided, of course, that the overall bullish trend continues.
Best regards, R. Linda!
Leaving Breadcrumbs For A Swing Or Setting A Trap?In my previous idea, I explained why I think the price could rise to the $580s and just wanted to provide a brief update on what I’m watching for this week. The market has felt lethargic recently despite rising roughly 8.25% over the last five sessions. The days of fretting over incremental movements feels like a distant memory. Fortunately, major data releases and large cap earnings should energize the market. While “C” waves are not required to meet specific sub-wave retracements, and can go straight to their targets without a significant pullback, we should still be prepared for the possibility of being faced with market whiplash. Taking all of this into account, I think there could be a pullback - especially after noticing an important clue right in front of me.
AMEX:SPY has been rising higher for the last five sessions in a jerky uptrend from last week’s lows and is close to filling a gap/imbalance at the $555 level on the daily chart. There is also a gap from $529-$534, however the price is much closer to filling the upper gap.
Other things I’m taking note of on the daily chart are the declining volume and a MA cross confirmation. The moving averages I’m using here are HMA (13; pink) EMA (34; yellow) and SMA (200; green), and I have found the Hull Moving Average crossing the Exponential Moving Average to be a fairly reliable indicator of a reversal. HMA will cross up on Tuesday if the price stays above the EMA.
For a different perspective, the 1000R ($10) chart shows the price action a little more smoothly. I noticed that for the month of April, each time the price swung lower, it did so by around $35. If it is assumed that this pattern continues for one more swing lower in what would be wave (b) of C, the next question would be: to which retracement level it would go?
There are a lot of people on the boards who think the price will move lower on Tuesday. If the price were to fall from around Monday’s close of $550, a $35 drop would take the price back to around $515, which would result in an approximately 80% retracement of wave (a). There is nothing wrong with this, and the price could reverse and extend to $580 from there, however I think such a deep retracement into wave (a) is the less likely scenario since the goal of this larger corrective wave is to keep the momentum moving higher to sell before the market tanks. I still charted it above to show what that would look like.
Alternatively, I am expecting SPY to move higher on Tuesday and pull back Wednesday and Thursday to continue printing what appears to be clean and proportional movements here in the first major corrective wave of the bear market.
The week ahead will have several events that could determine the market’s direction. The most important news should come from GDP and Core PCE data being released before the open on Wednesday. Regardless of how the market reacts, we can assume with relative confidence that the news will contribute to a large movement in price. Since I’m suggesting a $35 move down will happen at some point, I am anticipating Wednesday will start this movement.
Above the $555 gap there is an order block that the price should be gravitating towards. This would be an ideal area to absorb buy orders before SPY gets sent down. Taking an educated guess, $565 could be a key level that marks the end of wave (a). A $35 reduction from there would see the price retrace 61.8% (0.382 level on the chart) to $530. Since there is another gap around this level, it should be a logical area for the price to move next before beginning its final rise to around $580.
…
This idea makes more assumptions than my last one, so please trust your own instincts and form your own opinions. The market can be unpredictable, so patterns can fail at any time. This is why it is important to stay vigilant.
With that being said, I expect Tuesday to be another low volume day that could take the price in any direction; including sideways. Since Wednesday’s data should be a major driving force for price activity this week, it is important to assess which level the market is targeting just before the news comes out. We’ll see what happens, but I think institutions are going to look to prolong this corrective wave while they still can and offload shares at a good price, because the next time this sells off it will go much lower.
I appreciate all of the feedback I received on my last post, and if you enjoyed this one I’d love to know what you think. Good luck to all.
USOIL 2025/04/29Scenario USOIL TF H4
- Stick to your stop loss to protect your trades
- Manage your positions patiently until you hit the target
- Profit always in risk, take the risk or lose the chance
Potential Formation of a Triangle Pattern ObservedOn the daily timeframe, the Dow Jones movement currently presents two possible scenarios.
Under the black label, there is a potential formation of a triangle pattern, suggesting that the Dow Jones may enter a prolonged consolidation phase to complete wave B, with an expected range between 38,200 and 40,400.
However, under the red label (alternative scenario), a bearish triangle could be forming as part of wave X.
Short-Term Opportunity Emerges for XAUUSDOn the 1-hour timeframe, I anticipate that XAUUSD remains vulnerable to further correction, at least to retest the 3303–3322 area. Subsequently, as long as XAUUSD is able to stay above 3273, there remains a short-term opportunity for a rebound toward the 3356–3376 area.
XAU/USD Elliott Wave Count: Preparing for Final ImpulseXAU/USD appears to be in a textbook 5-wave impulsive structure on the 4H chart, with the market now completing Wave 4 as a classic ABC corrective flat/pennant.
The impulsive move from the Wave 2 low has formed clear internal substructures, with Wave 3 exhibiting extended price action, consistent with Elliott Wave guidelines.
Currently, price is consolidating in a contracting pattern labeled Wave 4 (A-B-C), which looks to be near completion. Based on wave symmetry and Fibonacci projections, a strong upside move is anticipated once Wave 4 concludes, leading into the final Wave 5 rally.
Entry Zone: 3286.875
Target: 3367.440– 3410.210
Stop Loss: Below 3260.190.
IP: The Story Idea#IP is a new AI coin listed on all major exchanges.
After a strong rise following its launch in early Feb, it dropped in a double combo correction that seems to be completed.
With stop-losses below $3.44 and $2.98, a major bullish move toward a new ATH could be next.
#Story
GOLD → The chances of a further decline are growing...FX:XAUUSD continues to test support at 3270 for a breakout. Any de-escalation of the conflict between the US and China could trigger a price drop. But it's not that simple...
Gold under pressure amid tariff war and ahead of US data
On Monday, gold is testing last week's low of $3260, remaining under pressure from a strengthening dollar and easing trade risks between the US and China.
Investors are preparing for the release of key US GDP and labor market data, which could influence expectations for Fed rates. Against this backdrop, the correction in gold could be replaced by growth if macro statistics turn out to be weak and geopolitical risks remain.
Another retest of support could trigger a breakout. It is necessary to monitor the situation between China and the US. Any de-escalation will trigger a decline.
Resistance levels: 3299, 3326
Support levels: 3268.9, 3245, 3232
Since the opening of the session, the potential for a further decline has been exhausted. Gold may strengthen to the indicated resistance zones. A false breakout of 3300/3326 could trigger a decline, which could bring the price closer to the support breakout of 3270.
With respect, R. Linda!
EURUSD Elliott Wave: EUR Trend is MatureThe rally for EURUSD has been spectacular.
The uptrend is nearing its point of exhaustion, if it already hasn't seen the top.
We've anticipated a large uptrend since the trend change in January.
There are 2 colored labels on the chart, red and black labels.
RED AND BLACK WAVE COUNTS
The RED labels imply a high in wave 1 and EURUSD is declining in wave 2. Wave 2 likely stretches down to 1.07-1.12 and may take 1 to 3 months to develop.
The market geometry within this rally fit really well on the red. However, the lack of RSI divergence at the end of wave 1 is a little worrisome. Typically, we'll see wave ((v)) diverge on RSI relative to the high of wave ((iii)).
The black is a slight variation of the red. BLACK suggests the recent high wave wave ((iii)). A little more dip and correction is wave ((iv)). Then, one more rally in ((v)) to finalize the larger degree wave 1.
Either way, the trends in EURUSD are skewing to the downside.
Since wave 2 is a corrective wave, it'll be a difficult one to trade. If you want to trade USD strength, consider buying USDCAD or shorting AUDUSD.
From lower levels (1.07-1.12) in about 1-3 months, a bullish setup in EURUSD and GBPUSD are likely to emerge for another powerful run.
Gold will go down soonHi
I think gold is in corrective wave B of ABC and wave B is a flat. Currently wave c of the flat is completing 5 waves and moving higher.
USDCHF | 15M | Needs to break for uptrendHey there my friend;
I’ve prepared my analysis of USD/CHF for you. For USD/CHF to move into an upward trend, it needs to break out of the parallel channel. Once it breaks out of the parallel channel, I’ll share the target levels with you.
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