USDollar Is Making An Intraday Pullback Within DowntrendGood morning traders! Stocks keep pushing higher along with yields, so it looks like 10Y US Notes could still see lower support levels, and that’s why USdollar is in a bigger intraday correction. What we want to say is that while the 10Y US Notes are still searching for support, the DXY can stay in recovery mode or at least sideways. In the meantime, stocks can easily see even higher levels after NVIDIA surpassed earnings.
Looking at the intraday USDollar Index – DXY chart, we see a leading diagonal formation, so we are tracking now an intraday abc correction before a bearish continuation, thus keep an eye on GAP from May 18 around 101 level that can be filled and may act as a resistance before a bearish continuation.
Elliott Wave
GBPJPY 1H Analysis – Bullish Breakout from Ending Diagonal + AO Pair: GBP/JPY
Timeframe: 1H
Structure: Wave 5 Ending Diagonal + Bullish Divergence on AO
Hi traders! Here’s an update on GBPJPY from the 1H chart.
After a strong bearish move, price formed a falling wedge (ending diagonal) pattern, indicating exhaustion in the downtrend. This pattern completed with a final Wave 5 that showed significant weakness — and here’s the key signal:
🔍 Bullish Divergence Spotted
While price made a new lower low (Wave 5), the Awesome Oscillator (AO) printed a higher low. This classic bullish divergence hints that bearish momentum is fading and a potential reversal is in play.
📈 Breakout Confirmation
Price has now broken above the wedge and the 1.0 Fibonacci level (~193.67), confirming the breakout and early bullish momentum. We’re currently seeing price pushing up with strong momentum candles.
🎯 Potential Targets Based on Fibonacci Extensions:
• 1.618 – 194.60 (first resistance / TP1)
• 2.618 – 195.35 (TP2)
• 4.236 – 196.45 (extended TP3 if trend continues)
🛑 Key Support:
• 193.00 zone – ideally price should stay above this level to maintain bullish bias.
🧠 Summary:
• Falling wedge (ending diagonal) completed as Wave 5
• AO bullish divergence signals weakening sell pressure
• Breakout confirmed above 193.70
• Watching for continuation toward 194.60 and 195.30+
📌 I’ll be watching for a potential pullback above 193.70 for a high-probability reentry opportunity. Always manage your risk and trade what you see.
Let me know your thoughts in the comments below! 📥
#GBPJPY #ForexAnalysis #PriceAction #ElliottWave #AO #Breakout #Fibonacci #TechnicalAnalysis #Wave5
My Thoughts #013The pair is still quite bullish...
I would look for sells
if we get to the supply zone and get a choch I would sell then for now I just think it will push up to the supply zone before we get that drop.
As you can see it's the buy before the sell that Choch so that is why I think it will mitigate the Zone before dropping...
Yet I am not. Saying it might not sell from the point it's at but it's just my perspective
Use Proper risk management
Let's do the most
ADA is going to catch big targetsWe are currently experiencing a Wave 2 correction after completing an impulsive Wave 1. Once the ABC correction is complete, we can expect to enter an impulsive Wave 3. As time goes on, if it seems like we are entering Sub-Wave 1 of Wave 3, I will publish an idea to outline new targets. For now, we should anticipate new movements in the market.
XAUUSD_10M_BuyAnas Gold Analysis
Elliott Wave Analysis Style
Short-term Time Frame and Scalping
Position Type from Buy to Sell
Main and Important Support Level $3355
Given the completion of 5 downwaves and the formation of the corner pattern, by maintaining the main support and breaking the pattern upwards, it can enter the upwave and move towards $3376 and $3382
If the announced resistance is crossed, the rise towards $3404 and $3414 will continue.
Rising from the Ashes: CUMMINS INDIA's Grand Wave 5 Launch?After a soul-sucking 11-month correction that chewed through every classic pattern — flats, triangles, zigzags, combos — CUMMINS INDIA may finally be ready for lift-off.
A WXYXZ correction has reached its climax in a clear Wave 4 low near ₹2580, completing the complex structure inside a descending channel.
But the game changed when price:
Broke the 200 SMA
Blasted through the channel
Punched RSI above 70 for the first time since May 2024
And did it with volume breakout
Now, all eyes are on Wave 5 — projected to aim for:
1.0 extension: ₹3569
1.618 extension: ₹3812
Can we reach a new ATH above ₹4171? It’s possible — if this unfolds through nested 1-2-3s, we may be witnessing the start of a larger degree rally.
Invalidation : Below ₹2706. If it breaks, the count may need a rework .
For now? Wait until it retraces to launchpad.?
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Gold Long: Wave 5 of 3Over in this video, I updated the Elliott Wave Counts for Gold Long. If I'm not wrong, we have finished wave 4, although the ideal entry is at 3344.
The Stop loss is 3354 if you entered now, and 3328 if you enter at 3344 (watch video for explanation).
The most important price target is 3438 which was the high on 7th May 2025 and 78.6% of wave 1 of a higher degree (watch video for explanation), although it is not the ultimate price target.
Good luck!
BSE Ltd – Completion of a 5-Wave ImpulseBSE Ltd appears to have completed a five-wave impulsive advance following a prior flat correction. Wave 5 has reached the 1.618 Fibonacci extension of Wave 1 and touched the upper boundary of a well-defined ascending channel — suggesting a potential short-term top.
If a correction unfolds from here, it may take the form of a zigzag or a flat. Key Fibonacci retracement levels to watch:
Target 1: 2,159 – 0.382 retracement
Target 2: 1,981 – 0.5 retracement
Target 3: 1,803 – 0.618 retracement
The invalidation level for this setup is around 2,736.20 . A sustained move above this would indicate that the uptrend may still be in progress.
Price action in the coming sessions will be key to confirming the next direction.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
GOLD → Correction after distribution. Bullish trendFX:XAUUSD is testing the liquidity zone at 3350 and forming a false breakout of resistance within the uptrend. A correction is possible before growth continues.
The fundamental background is quite controversial in the market. In the current situation, the focus is on relations between Russia and Ukraine, especially after the escalation that took place over the weekend. Everyone is watching the ongoing negotiations in Turkey. In addition, we should not forget about the situation with tariffs, which is still quite tense.
Gold has been rallying since the opening of the session and has reached the order block. A false breakout of resistance is forming, which could trigger a correction to the zone of interest. The dollar is hitting support, which could form a local correction before continuing its movement. This could also affect the price of gold, which remains bullish in the market.
Resistance levels: 3350, 3365, 3409
Support levels: 3303, 3264
The price has broken out of consolidation, with resistance tested and liquidity above 3350 realized. Relative to the current level, a correction is possible with the aim of retesting support before continuing to rise.
Best regards, R. Linda!
NIFTY50.....Buy signal!Hello Traders,
the NIFTY50 declined this morning roughly 210 points to 24526! This was today's low!
After, a upmove started and created a buy-signal!
Chart analisys!
This buy-signal will be eliminated below the Monday's low @ 24526! You can enter the trade, if the upmove getting exhausted and retrace a 0.618 Fibo of the advance or you jump directly into the marked!
Price targets will be submitted later!
It becomes essential to handle the stop-loss level consequently @ 24526 points! Just one tick below and the trade must be stop!
If the bulls want to ride this buy signal we can expect a wave c=a!
I will update the count in the coming 1-2 days!
Thank you for your understanding!
Have a great week.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
Crypto Market Slows Down For A Correction Within UptrendCrypto market nicely slowed down as expected and Crypto TOTAL market cap chart can now be finishing a projected wave 4 correction right at the former wave "iv" swing low and channel support line, which is ideal textbook technical picture that can now send the Crypto market higher for wave 5, especially if bounces back above 3.3T area and channel resistance line.
However, even if it's going to face deeper and more complex correction within higher degre wave (2) down to 3.0T - 2.8T area, sooner or later we can expect a bullish continuation, as Crypto TOTAL market cap chart is not at the all-time highs yet.
Link Correction complete? CRYPTOCAP:LINK Correction Nearing Completion? Key Levels to Watch
Recap
CRYPTOCAP:LINK continues to retrace and lose levels. Price action looks a bit incomplete on the Elliott wave side, but technicals suggest the retracement may be nearing its end.
The Setup
The cleanest scenario would see price make one more leg down into the 12.42 area. That level offers symmetry and structural balance for a completed correction.
If instead price breaks above 15.008, it opens the door for the correction to be considered complete. Still, confirmation would require a strong reaction from that move—not just a quick wick.
The Outlook
A defense of 12.42 would keep the bullish scenario alive. A break below that level, however, would weaken the outlook and raise the probability of an extended correction or trend continuation lower. Namely an impulsive move down. Right now, we have a potential correction, we need the PA to provide proof of what we have. Wave 4s and 5s at matching degrees as what has printed are need to prove an impulse and an invalidation will prove otherwise.
For now, the focus remains on reactions at these two levels. Watch closely— CRYPTOCAP:LINK could be setting up its next directional move.
EURUSD → False breakout of resistance. Correction?FX:EURUSD is strengthening amid a decline in the dollar, but the currency pair is encountering strong resistance and forming a false breakout, which could trigger a correction.
EURUSD is testing the resistance range as part of a distribution and forming a false breakout. The market structure is bullish, with the price breaking through local resistance and updating its high. The inability to continue growth and price consolidation below 1.1418 may trigger a correction. The dollar is also hitting support and may form a small correction, which will put pressure on EURUSD
Resistance levels: 1.14246, 1.1418
Support levels: 1.1384, 1.1343
If the currency pair fails to consolidate above 1.14246 during the resistance retest in order to continue its growth, then we can expect price consolidation below this level to open a short position. The correction may reach the specified support zones before continuing its growth.
Best regards, R. Linda!