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CADCHF: Triangle patternThe Darkest hour is that before the down, the great hope and light which always draws you towards itself. In Elliott wave analysis, these sparkling lights are the patterns, and when we encounter a pattern, we can build the whole path. What we have learned in Elliott's rules is the importance of the patterns, the most valued of these patterns are Diagonal and Triangle, which we can determine the direction of the movement according to their position. In the case of this currency, a Triangular pattern is being formed and we know that this pattern can be formed in wave B or 4. For this reason, and considering the history of the chart, we can consider this wave as the 4th wave, which will start the uptrend in wave 5 after the downtrend.
by NirmataFX
3
Ripple: The beginning of the uptrend with targets of $ 13 Please be noted that the target of $ 13 is a long-term price movement In the daily chart, Corrective Wave of 2 has been completed in the range of 0.1700, and the price is forming the first uptrend in Wave 3. ( Daily Chart ) In the 240- minute chart, after monitoring the details, the first ascending wave has been completed in the range of 0.3721 and the retracement has been completed in the range of 0.2608 with a truncated C wave, and is currently completing wave 3. Notes: First: The first confirmation to change the price trend is the range of 0.3835, which is probably happens in this uptrend. Second: To get the confirmation for changes to the main trend, the price must cross the range of 0.6813, which is the end of wave B. In this case, hopefully, we can expect $ 13 target price. Third: If the price crosses the range of 0.2608, the downtrend can be extended up to the range of 0.15. This range is equal to 1,618 Fibonacci ratios of the Wave A from point 2, which is an important price range.
BITSTAMP:XRPUSD
by NirmataFX
1
ChainLink : Target of $ 80 As you can see in the chart, the uptrend continues in wave 3, from the sub-waves of the 3rd wave, the price is in the wave of 5. The targets of this uptrend could be initially $ 37 and in continuation $ 80, when the 5th wave from point 3 ends. In many analyzes, the target price of $ 700 for this token has been seen. But I personally think the highest target level which forms at the end of Wave 5 could be in the $ 225 range, which is the target for a very long term.
COINBASE:LINKUSD
by NirmataFX
1
KAVA - The beginning of a strong 3 ascending wave The first ascending wave has ended in the range of 5.53 , there are two scenarios of corrective movement for this uptrend. The first scenario which has shown in color line is a simple corrective Zig zag, that is completed in the range of 1.1226. In the second scenario, the pattern of wave 2 is in Complex format, which is displayed in gray. In any case, in order to confirm the uptrend, the price needs to cross the range of 2.69, and by crossing this price, we can specify $ 9 in the first target and then $ 22. One of the reasons we have considered the $ 22 range as the final target is the channel line that we draw from the beginning and end of wave 2 and extended it to the end of wave 1. Time limit: I'm looking for a system that we can use it to predict the time frames which we will reach the forecasted target. Currently, I use Time Fibonacci, according to this analysis, the timeframe for this event would be from 21Jul to 21Sep , in which we can reach the target of $9 .
by NirmataFX
Has the Altseason started? Evidence suggests that in order to be able to predict the onset of the Alt season, we need a descending bitcoin dominance. According to the 10-days analysis of the Bitcoin dominance, the probability of the formation of an Expanded Flat pattern structure is very high, and the targets for this downturn are in the range of 57.67 to 51.61. BTC.D : ( 10 Days ) On the other hand, by considering the bitcoin chart itself, and monitoring the RSI in the balance area (middle) range, it is possible that after a sharp uptrend, the price is in resting position, and forming a Triangular pattern (The range moving in this area) On the other hand, by examining the dominance of the Ethereum, Ripple and other currencies, we can have a count for their uptrend movement, and increase of dominance for them For example, for the Ethereum ( 10 Days Chart ) For Ripple (10 Days Chart ) For Dot Also, in most currencies, we can see an increase in the dominance, which by itself indicates an ascending trend for these currencies. In addition, by monitoring the status of the coins such as Ripple, Ethereum which have been shared previously, we can see the price increase clearly. There is question now, according to this scenario, which one of these currencies are better to buy: - ZEC , which according to the analysis can increase up to $ 350 - TRX , which can increase up to 0.08 to 0.18 - ETH , for $ 2560 targets - Link , for $ 90 to $ 100 - DOT , which is referred as an Ethereum replacement - QBX , that the analysis was shared in the last 5 days, has experienced a nearly 200% price increase so far. Last but not least, Ripple , I personally find Ripple very prone to price increases, and whatever analysis I do, I reach a very fantastic uptrend outlook for the currency. That's why I keep it in my portfolio. Caution: All of these comments and scenarios are completely personal.
BITSTAMP:BTCUSD
by NirmataFX
GBPJPY: The probability of Diagonal pattern formation In the daily chart, by checking the details of the waves we can see that wave i from the sub-waves of wave 3 has completed in the range of 133.04, we are currently in wave ii. In the 240-minute diagram and in the details of wave 2 from sub-wave C, a diagonal pattern is forming which we can consider it as a terminated wave in the range of 142.03. To confirm the main downtrend, the price needs to cross from the range of 139.51 with 5 descending waves.
by NirmataFX
1
S&P500 : The completion of the Diagonal patternIn240 minutes chart of the uptrend from the range of 3511 to 3833 is in the form of 3 waves which confirms the scenario of the formation of the Diagonal pattern. Currently, to get the the confirmation of the downtrend,the price should not cross the range of 3841,because the 3rd wave should not be shorter than the other waves. By crossing the price from this range,this scenario will be violated. Thee confirmation for this pattern will be received by the formation of 5 descending waves,and by crossing the price from the range of 3660. According to monitored position, personally,I set the short order. By considering the RSI you can also see the convergence
U
by NirmataFX
[US Dollar Index] 12 Jan, 2021 - Roger V Trading IdeasUS Dollar index What happened to US Dollar index? Since ever US dollar index has broke the support level of the triangle in November 2020. The US dollar index has gone in a bearish trend. Until today on the 12th of January 2021, I was able to return to review the US dollar index chart, and realised there is some potential signal appearing on the MT4 monthly chart, with a bullish candlestick. Knowing that one monthly candlestick represents four weekly candlesticks. As per image shown below. As per Roger V Trading Strategy, new lows or new highs. It is more preferred to wait for extra more candlesticks to be formed in a consolidation before it is considered as a pair to execute the trade. Before the first bullish candlestick is formed in the weekly chart, the strategy taken by Roger V's, is more preferred to idle until the third or fourth candlestick to be formed. I would wait further if there is no in favoured signal appear at the time. Friendly Note: The candlestick formed in a greater timeframe, is more legit and it increases the potential of the direction will proceed. What is happening in the weekly and monthly chart of US dollar index: As seen on the monthly chart, an on-going bullish candlestick is currently forming for January 2021, it may take another 19 natural days to form its candlestick. At the same time, looking into weekly chart, there is four candlestick formed already for December 2020. If the candlestick on the weekly chart can form a bullish candlestick. There is a potential possibility this may be a long term trend turning point for US dollar index to turn its direction from weak to strong with the US dollar. (As per technical and strategy view.) Worst Case Scenario: However, not to ignore the worst case scenario if it happens. If the price goes down to 88.900 (Danger zone) and then if even worse, surpasses the last support level of 87.900. The potential idea of US Dollar in going strong will all cease its idea. Best Case Scenario: All major pairs will be in the direction of US dollar going strong (70~80% correlated most times) Major pairs such as, AUDUSD, USDJPY, USDCAD, USDCHF, NZDUSD, GBPUSD,EURUSD. Gold would also be considered to be a strong correlated relationship with US dollar, as the abbreviation is XAU USD. (For further questions or anything unclear, feel free to leave a message in the posts comment at the bottom of the page or on Roger V Diamond VIP group.) Conclusion: Due to the above reasons, the possibility for US dollar if not breakout the last support level of 87.900. There will be a potential of US dollar going strong in the next few weeks time, or even upward trend in months time. (Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.) -------------------- How to get closer with market updates? Where to find Roger V? FB/ Google: Search Roger V Trading Academy -------------------- Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
INDEX:DXYLong
by aluotradingjournal
1
EURCAD: Diagonal pattern in the weekly chartEURCAD: Diagonal pattern in the weekly chart, Triangle pattern in the daily chart ( Weekly Chart ) In the weekly chart, the largest waves have a triple structure, so monitoring the charts shows the end of the chart is in a form of 3-wave pattern that starts from the range of 1.2129. According to these explanations, the price is forming an Ending Diagonal pattern in this time frame. In continuation, we will study the daily chart and the details of the movement. ( Daily Chart ) In the daily chart, the price is in the final wave of the Diagonal pattern, of which the B wave is forming the triangle pattern, and the movement is terminating. The uptrend formation and the end of the Triangle pattern can be confirmed by crossing the price from the range of 1.5785. But the main point can be seen in the 240-minute chart, in this chart at the end of the E wave the Diagonal pattern is being formed. By crossing the price from the range of 1.5600 we can get the early confirmation to enter the completion of the Triangle pattern with targets of 1.6250 to 1.6300.
by NirmataFX
Gold: The Double ZigZag pattern is not over yet. ( Daily Chart ) In the daily chart, and in the previous analysis, we considered the IV wave as an ended wave in the range of 1764. We were expecting the price increase and cross the level of $ 1965. In the range of $ 1959 and with price decrease from this area and by crossing the price from the range of $ 1818, it seems the structure of the uptrend, from the range of $ 1764 to $ 1959 is in the form of 3 waves. To get the confirmation for the completion of wave IV, we should wait for a downtrend formation with 5 more waves up to the range of $ 1736 to $ 1650.
FX_IDC:XAUUSD
by NirmataFX
2
BTC - Two potential scenarios for Bitcoin and its reasons First, we describe descending scenario: In the daily chart, we can count 5 waves up to the range of $ 41950, which indicates the end of the uptrend in wave III, in order to have the completion of wave IV, we must wait for the price decline up to the range of 16,500 to 21,800 dollars. The reason we considered a long corrective movement in wave IV is that in wave II we had a short retracement. Take the following image which depicts the ascending scenario: First, we study the trend lines and the 10-days chart. In the past, and in the case of the crypto currency market, movements in wave 3 or the 5th continuous wave usually were ending in 400% of Fibonacci ratio, which we have not reached this level in Bitcoin yet. (10 Days Chart ) Now let's see the wave count in the 240 -minute chart: We can have this wave count that, the uptrend up to the range of $ 42,000 was the end of 3rd wave from point iii, and by hitting the trend line which obtained from the connection of waves 1 and 3, hopefully we can expect the price increase in the 5th wave up to the range of $48,000, which is according to the analysis of 400% of Fibonacci ratio. ( 240 Minute Chart )
by NirmataFX
2
Zcash – Probability of uptrend formation to the range of $ 183The first 5 ascending waves started from the range of $ 18.13 and ended at the level of $ 102.42. The corrective movement of this uptrend has been completed in the range of 46.27 which is approximately equal to the Fibonacci ratio of 0.618. By crossing the price from the range of 89.77, which is the end of wave B from the correctional structure, we can be hopeful to start the uptrend in C / 3 wave. This wave initially can touch the range of $ 183 and then reach the level of $ 384
BITFINEX:ZECUSDLong
by NirmataFX
1
NEO - The beginning of wave 3 from bullish with the target $100The first 5 uptrend waves started at the level of 3.89, has ended at the range of 25.85. The corrective wave of this trend was very complicated and in the form of Expanded Flat and Double Zigzag patterns, which is completed in the range of 12.21, that is equal to 0.618 Fibonacci ratio. Currently, by crossing the price from the range of 21.82 (the end of X wave) and breaking the downtrend line, we can be hopeful to get the following targets. First target: $ 42 Second target: $ 47 The third and final target is $ 100
Long
by NirmataFX
1
OMG - The beginning of the uptrend in wave 3 / AThe first uptrend, which started in level of 0.3031, ended in the range of 9.82, in continuation the price entered the corrective phase of this uptrend, which is a simple 3-wave pattern that ended in the range of 1.99.12. This corrective movement has been completed in the range of 0.786 Fibonacci ratio. Then, with the breaking of the downtrend line, we can be hopeful that the downtrend is over, and also by crossing the price from the range of 5.18, we can get the main confirmation. The general targets are in the range of $ 39, in addition, we can focus on $ 15 and $ 17 as the short-term targets.
OLong
by NirmataFX
9