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Elliott Wave

Costco Wave Analysis – 20 May 2025- Costco broke resistance level 1020.00 - Likely to rise to resistance level 1080.00 Costco recently broke the resistance level 1020.00, which stopped the previous waves 1 and (b), as can be seen from the daily Costco chart below. The breakout of the resistance level 1020.00 accelerated the active impulse waves 3 and (3). Given the clear daily uptrend, Costco can be expected to rise to the next resistance level 1080.00 (former monthly high from February and the target price for the completion of the active impulse wave 3).
NASDAQ:COSTLong
by FxProGlobal
PYTH 4H ANALYSIS – Bullish Setup in PlayAfter completing a 5-wave impulse to the downside, PYTH has shown signs of a trend reversal. The first upward impulse displayed a clear 5-wave Elliott structure, breaking out of the descending channel — a strong bullish signal. Following this, a classic A-B-C zig-zag correction occurred, which acted as a retest of the broken channel resistance, now turned support. This confluence increases the probability of a bullish continuation. With market structure aligning and correction likely complete, PYTH is showing potential for a 50%+ move to the upside. 🟢 Entry Zone: 0.1400 – 0.1500 🔴 Stop Loss: 0.1272 (Below wave C & structural support) 🎯 Target Price: 0.2235 💡 Note: Always manage your risk and confirm with your own analysis before entering any trade.
by TheWaveHunter
4
GOLD → Short squeeze before a drop to 3150?FX:XAUUSD is consolidating. The market needs a driver, but due to the unstable fundamental background, traders have switched to a wait-and-see mode. Consolidation could turn into strong movement at any moment. But in which direction? Gold under pressure: the market is waiting for signals from the Fed and negotiations. The dollar is putting pressure on the market amid expectations of trade negotiations with India, South Korea, and Japan, as well as statements from the Fed.Earlier, the metal was supported by the weak dollar after Moody's downgraded the US credit rating, but growing interest in risky assets and hopes for peace between Russia and Ukraine reduced demand for gold. Key factors — negotiations and comments from the Fed — will continue to influence the dynamics of the dollar and gold. Technically, the price is in a downtrend and within consolidation. A breakout from consolidation could be accompanied by strong momentum, but I believe that there will be no countertrend movement and that a retest of resistance could end in a decline... Resistance levels: 3265.5, channel resistance Support levels: 3206, 3153 The most likely scenario within the bearish trend is a short squeeze and a downward breakdown from the triangle (the fundamental background and economic risks are slowly but surely declining, and gold may lose value). A false breakout of 3250-3265 could trigger a continuation of the trend towards 3150-3120. Best regards, R. Linda!
FX:XAUUSDShort
by RLinda
23
THETA Token Is In A Larger Flat CorrectionTheta Token with ticker THETAUSD made a deeper retracement in the last year, but it’s actually still above 2023 lows, so it can still be a larger regular 3-3-5 A-B-C flat correction in play. After recent projected five-wave impulse into wave (C) of a three-wave (A)(B)(C) decline in blue wave B, it can be now on the way back to March 2024 highs for blue wave C, which could be a five-wave impulsive cycle. Currently, it can be still unfolding a lower-degree five-wave impulse into wave (1), so more upside is expected for wave (3), especially if breaks above 1.74 bullish level, just be aware of wave (2) pullback. Theta Token (THETA) is the native cryptocurrency of the Theta Network, a blockchain-powered platform designed for decentralized video streaming and content delivery. It aims to improve the efficiency and cost of streaming by allowing users to share bandwidth and computing resources on a peer-to-peer basis.
BINANCE:THETAUSDLong
by ew-forecast
PENDLEUSDT → Resistance retest. One step away from distributionBINANCE:PENDLEUSDT is preparing for distribution after a prolonged consolidation. The price is testing a key resistance level, which, if broken, will trigger a rally... The coin is breaking through the flat resistance and consolidating above the upper border of the range. The key level is 4.400. If the bulls hold their ground above this level, the growth may continue. Bitcoin is showing bullish dynamics, which supports the altcoin market. The bullish trend may continue in altcoins as well. Pendle may move from consolidation to distribution. Resistance levels: 4.32, 4.400 Support levels: 4.024, 3.622 If the coin manages to consolidate above the key resistance level, thereby confirming the breakout, the price may move to aggressive growth. In this case, the target could be 4.800. Best regards, R. Linda!
Long
by RLinda
4
ADAUSDT🔹 Cardano (ADA) Technical Analysis 📅 Date: May 19, 2025 Cardano is currently moving within a medium-term ascending channel. After the second touch of the channel’s lower boundary, the price initiated a 5-wave impulsive structure. Wave 4 has retraced precisely 0.618 of waves 1 through 3 and coincides with the bottom of the channel — a zone that also reflects a Change of Polarity, where former resistance is now acting as solid support. Currently, wave 5 is developing, but the bullish momentum appears weaker compared to the preceding bearish leg — a possible indication of buyer exhaustion. Interestingly, the projected end of wave 5 aligns with the 0.618 retracement level of the prior decline and overlaps with the Pivot Point R2 zone, which could serve as a strong resistance area. Based on this setup — and with strict risk management in place — I’ve entered a long position with the stop-loss placed just below the tip of wave 1. Cardano remains one of my preferred crypto assets, and this pattern may offer a promising bullish continuation opportunity. 📈 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice.
Long
by abbasseraj
GOLD (XAU/USD) - Bullish Wave 4 Retracement in Progress📈 GOLD (XAU/USD) - Bullish Wave 4 Retracement in Progress 💥 15-Minute Chart | Elliott Wave | AO Convergence | Bullish Reversal 🔍 Market Context: Gold has completed a clear 5-wave impulsive move down from the 3228.75 resistance zone. Based on Elliott Wave Theory, we are now seeing the beginning of Wave 4, a corrective retracement before a potential Wave 5 continuation lower. 🧠 Technical Breakdown: ✅ Wave Count: Wave 3 completed with strong bearish momentum, ending in a classic 5-subwave structure. We're now seeing a bullish engulfing candle at the termination of Wave 3, signaling a potential Wave 4 correction. Price is currently showing strength to the upside, likely retracing to test the previous supply zone near 3,228.75. ✅ Awesome Oscillator (AO): Notice the bullish divergence (or convergence) forming between Wave 1 and Wave 3 lows. Momentum is waning, suggesting the sell-off is losing steam—an ideal condition for a Wave 4 bounce. Histogram bars are beginning to flip green, indicating short-term bullish strength. ✅ Price Action Confirmation: The bullish engulfing candle marks a potential reversal zone. Wave (5) of 3 appears to be completed in the green box region, aligning with historical demand. A breakout above the small pullback could accelerate the move toward the 3220–3228 area. 🎯 Trade Idea (Short-Term): Bias: Bullish retracement (Wave 4) Entry: On break of bullish engulfing high Target: 3220 – 3228 zone (Fib or prior structure resistance) Invalidation: Close below 3190 or break of bullish engulfing low 📢 What to Watch Next: Monitor for bearish signals around 3228 to prepare for a potential Wave 5 drop. If price stalls or forms bearish divergence near resistance, it may offer a high-probability short setup. 💬 Let me know in the comments if you're riding this retrace or waiting for Wave 5! Drop a 👍 if you like clean wave structure analysis! #XAUUSD #GoldAnalysis #ElliottWave #Wave4 #AO #BullishEngulfing #TradingView #PriceAction #TechnicalAnalysis
FOREXCOM:XAUUSDShort
by AwesomeOscDad
Meta UpdateWe're still within the target box thus far. Price came about $5 from the 1.618 and began to move lower. We cannot yet determine if the top is in, but I believe it is close if it isn't yet. If a top is not in, then I think we make a slight high to tag the 1.618 / 0.786 in the $670 area. If it is in, then we have begun our descent to the $420 - $318 area. I know that is a very big zone, however, we're very early in the pattern if we are in fact headed lower. Once we get more data I can refine this target. All I can go on at this point, though, is the fibs from the larger minor A-B waves. Looking at MACD, you can see we made this high on bearish divergence. This doesn't bode well with continuation higher. Normally, you need a healthier pattern / technicals to support continued momentum higher. In short, I believe we begin to move lower again in the near future if we haven't already. Minor C will take time though. So don't read this and think I am saying next week C will be done, because that isn't gonna happen. These things take time.
NASDAQ:META
by TSuth
6