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Elliott Wave

GOLD → 2685 breakout trigger. News ahead. A new conflict! FX:XAUUSD stops correlating with the dollar. The price is testing the key resistance at 2685. Bulls continue to test this area and accumulate the potential for a breakout attempt. Important news on jobless claims and retail sales are ahead China's economic problems have a negative impact on gold as the country is the world's top gold consumer. At the same time, markets are resorting to profit taking on long USD positions ahead of the release of the most important economic data - the US retail sales report. BUT! Another escalation, but in another part of the world: North Korea has declared South Korea an enemy and completely cut off transportation links with it. The markets are clearly not going to let this fact pass their ears..... Technically, the buyers do not retreat from their intentions and continue to test the resistance with a breakdown target. A pre-breakdown consolidation and several possible scenarios are forming, no matter how many people don't like it. Resistance levels: 2685 Support levels: 2674.5, 2665, 2658 A breakdown of resistance will trigger an impulse, and this is a logical scenario based on the technical situation on H1 (ascending triangle, accumulation and compression to the level). BUT! The news can have an unpredictable impact. If gold forms a false breakout and goes back to 2674, having updated this low, the price may go even lower (to 2665, 2658), for liquidity, before returning to the way north Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDLong
by RLinda
32
Palantir Update - New ticker coverageThe last post I made covering PLTR I showed the 4hr chart with my long-term projections. This chart I wanted to zoom in a little showing the more immediate pathway in front of us. Per my usual I have two different counts on the chart. These two counts, however, have the same end point. The difference is the pathway price will take to get there. The white count suggests that our wave 2 abc pattern was irregular, and we're now within the wave iv of 3 of (3). This should take us to the small target box from $40.25-$37.88. Afterwards the upward trend should resume bringing us to the larger target box finishing wave 3 of (3). The ALT implies that the wave (i) was abnormal. If you follow that pattern, it suggests the wave (iv) price is currently in, will be a little deeper. We shall find out soon enough but for now the white count is my primary thesis. I do want to note that the wave (iv) could already be over with price headed up to the larger target box from here. If we can make it to the smaller target box I will enter into a position with a stop in place. If not, I will wait until we retrace for wave 4 of (3) to enter into any positions.
P
by TSuth
7
Nasdaq short: Are you ready for the crash?There are 2 ways to look at the wedge that has formed: A truncated 5th wave that ends in an Ending Diagonal, or A W-X-Y-X-Z triple combination retracement. Side note: To be honest, had the wedge not form in 5 waves in the sub counts, I would really prefer for option 2 to be a “triangle”. The nice thing about this is that no matter whether it is the 1st or 2nd way, both gave the same direction: down. There is an advantage to the 1st count though: A sharp move down upon breakdown. The 1st way also has the added advantage of being in-sync with S&P500 and DJIA. There is actually a 3rd way to look at the wedge, one that I think is highly unlikely: 1-2,1-2,1-2. This way of counting means you will expect the next move up to be a very powerful wave 3. While I think that this is highly unlikely, we have be prepared for freak scenario and thus the stop loss.
OANDA:NAS100USDShort
by yuchaosng
9
Alikze »» GRT | Wave 3 or rising C scenario - 1W🔍 Technical analysis: Wave 3 or C scenario in the ascending channel - the target of the previous major ceiling - 1W - In the previously presented analysis , a bearish flag pattern was observed, after which the BINANCE:GRTUSDT currency entered a correction phase, which was completed by the size of the correction flag bar in the Buyer Zone box. - As can be seen, the weekly and daily timeframe is moving in an upward channel. - Currently, a descending channel has been formed inside the ascending channel, the descending flag pattern has been completed in the Buyer Zone. - Now, according to the current momentum, it can touch the neck line area in the first step. 💎 In addition, an AB=CD pattern has been formed, and the above modification is a response to the mentioned pattern. - So it can include a motivational wave in the form of wave 3 or bigger C, which can crown the previous major ceiling. ⚠️ Note: It should be noted that if the bottom area is touched before, the ascending scenario will be invalidated and must be updated again.⚠️ »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:GRTUSDT
Long
by alikze
16
NIFTY50.....Buy signal with stop-loss @24660!Hello Traders, The NIFTY50 fell to 24660.25 on Friday, showing a "gap down"! This gap was closed with a hammer candle, a strong buy signal as long as the low of the hammer holds! It also bounced back to the lower trend line for the 3rd time, showing a good recovery from the lows. There is resistance at or around 24850 and a move around this area opens the door to 25065 depending on when and if it is reached. The descending trend line is also a good clue, as the price will extend this area. From an Elliott Wave perspective, we probably saw a wave b of an expanding flat this week, and the recovery would be a wave c of iv. This would take the rest of next week to establish! In some cases, a wave c of a flat only retraces a 0.618 Fibo of wave a. But only if wave a has developed into a "three-down"! The overall count is unchanged, and the next few days leading up to the US election will be quite exciting! Stay tuned and trade with patience! Have a great week..... Ruebennase Please ask or comment as appropriate. Trading based on this analysis is at your own risk.
NSE:NIFTY
by ruebennase
BTCUSD : Correction after DiagonalBTCUSD is Entering a New Uptrend, but a Slowdown May Occur In recent weeks, BTC's upward movement has not been very aggressive, and selling pressure has been consistently present. Currently, BTC appears to be in the 5th wave of a Leading Diagonal. However, a slowdown may happen soon due to the following technical signals: The price is hitting a major descending trendline. The price is slowing down after encountering an FVG (Fair Value Gap) on the H4 timeframe. AO (Awesome Oscillator) is showing divergence, starting from smaller timeframes up to the H4. If a slowdown occurs, BTC may retrace to the 50% or 78.6% Fibonacci levels, which are targets for the Diagonal. Note: Price zones are only significant areas that affect price movement.
ICMARKETS:BTCUSDShort
by nexus_trader
XAUUSD : ATH (Almost TOP Here)XAUUSD (Gold) Continues to Reach New All-Time Highs Gold prices have been surging aggressively over the past week. At present, gold appears to be forming one of two potential patterns: In the correction phase of Wave 4, with the following possibilities: Expanded Flat Triangle Running Flat/Triangle If this is the case, the price may consolidate for a while before hitting a new all-time high (ATH) again towards the end of the year. Currently in Wave 3 of Wave (5): In this scenario, the price may have a small pullback before quickly reaching a new ATH. After that, a larger correction phase is likely to occur by the end of the year. For now, more weight is being placed on the first scenario. However, if the price breaks above the B-wave of the Expanded Flat at 2375, the second scenario will be favored immediately. Note: The first scenario is more likely because, on a larger scale, the price has already reached the target of Wave (5), even though the smaller waves have not fully completed. Close monitoring is required.
ICMARKETS:XAUUSD
by nexus_trader
1