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Recovery

USDollar Is In Higher Degree Recovery ModeDollar Index with ticker DXY has turned bearish after the corrective rally stopped at 105.70-106, an important resistance area at the end of June. Since then, the price even accelerated lower through summer so it appears that a bearish impulse, but with current sharp bounce out of an ending diagonal on 4h TF, we believe that correction is now in play. Notice thats a very sharp leg up, so its wave a, still first leg of a minimum three-wave a-b-c recovery that can take index back to 61.8% Fib, near 104 which can be very strong resistance for the next sell-off, especially if we consider that this can be wave 2 rally.
TVC:DXY
by ew-forecast
Awaited Dollar Rebound, Too Expensive FrancCHF - Market Internals - SNB doesn't like it high USD - Strong GDP data. Claims were released slightly below the cons.; ISM PMI positive expectations - Oversold dollar due to exaggerated cut expectations - Bullish CFTC Technical & Other Setup: TR(B) Setup timeframe: 4h Trigger: 1h Medium-term: Down Long-term: Down Min target: Local mirror level, 3R Risk: 0.22%; 1R * 1st entry 0.5R near the down band of the local range (buy limit); 2nd 0.5R when 1h closed above DMA(10)
Long
by Cherry94
AVAXUSDT gives Bullish indicationsAVAXUSDT has finally broken out of the consolidation zone that has been developing since early August. On the weekly timeframe, the market formed an inside bar pattern, and the price has now surged above it, signalling a bullish outlook. Like many altcoins, AVAXUSDT has tested historical lows, revisiting levels from November 2023, where a significant price surge previously occurred. On the 4H timeframe, the price action has also broken through a triangle pattern, marking the end of an accumulation phase around 20.00 and indicating a potential bullish move. The market may retest the channel border and upward trendline. The target is the resistance zone around 27.50
Long
by RTED_Investing
NZDUSD Is Looking For A Bigger RecoveryLooking at the 4-hour time frame of the Kiwi with ticker NZDUSD, we can see a strong rebound after a completed final subwave “v” of C of (C), as Zealand beat jobs data, so seems like a new three-wave A-B-C rally can be in play within higher degree wave (D) that can recover the price back to the upper triangle line. Wave A looks to be finished after RNBZ delivers surprise 25 BPS rate cut to 5.25% today, so seems like it’s now making a pullback in wave B that can retest 0.59x support area before a continuation higher for wave C towards 0.61 – 0.62 resistance zone.
by ew-forecast
German Bund Is On The Rise, So As EURUSD PairWe talked about a bullish turn on German Bund back on June 20th, where we mentioned and highlighted more gains within wave C of an A-B-C rally, which can also recover the EURUSD pair. As you can see today on August 05, German Bund is extending strongly higher within a five-wave bullish cycle for wave C with space up to 140 area. At the same time EURUSD is also nicely recovering due to a positive correlation and with still bullish Bund, EURUSD can easily see more upside.
OANDA:DE10YBEURLong
by ew-forecast
TOTAL - An Overview on the crypto marketcap#TOTAL #Analysis Description --------------------------------------------------------------- + After a clear bounce from the support, another drop is occurring, which is normal. + We also have a strong support line that is providing significant support. + As long as the market cap remains above the horizontal and trendline support, there is hope for an upcoming bullish market. + A breakdown from this support zone could lead to further declines in the market. --------------------------------------------------------------- Enhance, Trade, Grow --------------------------------------------------------------- Feel free to share your thoughts and insights. Don't forget to like and follow us for more trading ideas and discussions. Best Regards, VectorAlgo
CRYPTOCAP:TOTALLong
by VectorAlgo
Trading Strategy for REC Ltd. (NSE: RECLTD) Analysis: 1. Trend: The stock is currently in a downward channel as indicated by the parallel lines. This suggests a bearish trend in the short term. 2. Support Levels: - Strong support is present around the 600 mark, which coincides with the current price level. - Another key support level is at 575. 3. Resistance Levels: - Immediate resistance is around 610. - The next major resistance level is around 625-640. Volume: - The volume has been significant, especially during the drop, indicating strong selling pressure. Strategy: 1. Entry Point: - Consider entering a long position if the stock shows signs of reversal or consolidation around the 600 support level. - Alternatively, if the stock breaks below 598 with significant volume, it might be wise to wait for it to approach the next support at 575. 2. Stop Loss: - Set a tight stop loss around 595 to limit potential losses. 3. Targets: - First target would be around 610 (immediate resistance). - If the stock breaks above 610 with volume, the next target is 625-640. Conclusion: - The stock is in a downtrend but is approaching a critical support level at 600. Monitoring the price action around this level is crucial. - Entering a long position with a stop loss at 595 and targeting 610 initially is a prudent strategy. - If the support at 600 fails, look for opportunities closer to 575. Note: Always consider the overall market conditions and use proper risk management techniques when trading.
NSE:RECLTD
by DkRayakTV
DMART - Momentum is building for upside move - Time to go LONG!DMart looks like it has bottomed out, presenting an opportunity for a long trade with a tight stop loss in place! Trade Idea Explanation: - Entry Point: Best around 4300+ - Stop Loss: Tight SL to 4100 on closing basis of D tf candle - **Target:** Expecting a significant upside around 5900++ Stay updated for further insights and trade safely! If you have liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recomendation. This post is meant for learning purposes only. Please, do you due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:DMARTLong
by SuperNova396
OMG Network May Face A Larger RecoveryOMG Network with ticker OMGUSD nicely stabilized and the end of 2023, clearly within a five-wave bullish cycle that belongs to first leg (A)/(1) of a minimum three-wave (A)/(1) - (B)/(2) - (C)/(3) recovery. Since the start of the 2024, we have seen slow, choppy and overlapped decline, which clearly looks like a correction, ideally W-X-Y complex one in wave (B)/(2) that stopped and perfect former wave 4 support near golden 61,8% Fibonacci retracement. By current sharp bounce back above the trendline, seems like OMG is looking for a larger recovery within wave (C) or (3) that can retest at least the December 2023 highs for wave (C) or it will go even higher for wave (3).
CRYPTO:OMGUSDLong
by ew-forecast
3
10Y Treasury Bond Is Looking For A Bigger RecoveryTreasury bond - 10Y US Notes came down a lot in the last two years but this cycle can now come to an end as we can see five waves down into 2023 lows ona weekly time frame. In fact, we also see five subwaves completed within wave (5) on a daily chart after prices recovered and break above the trendline resistance. The move is strong, thus we think that more upside can be coming within a three-wave (A)-(B)-(C) rally, where first leg (A) can be still in progress or maybe already completed as an impulse. Support on subwave 4 or wave (B) dips are at 110-111.
CBOT:ZN1!Long
by ew-forecast
Crude Oil Is Looking For A RecoveryCrude oil is coming down now making five subwaves down from 80.00 so there can be some support not far away as higher degree corrective decline from October highs can come to an end soon. There is also a potential leading diagonal, which is a bearish structure, but still suggests that the market can stabilize a bit. RSI divergence also suggests that bears are losing strength. However, any short-term low is not confirmed, unless we see an impulsive move back above 72.60. But if you look at the current price move, we can already see price turning sharply today, which can be an indication for a higher rally.
NYMEX:CLG2024Long
by ew-forecast
Low risk High Reward BMRN?NASDAQ:BMRN finds itself at a point of fight or flight, cornered and being pinned below all-time highs and just above the 0.5 retracement level. A lot can be said about this company: battles with the FDA following the Martin Shkreli controversy, having product approval delayed, and dealing with the monotony of the pandemic and the subsequent rise and fall along the way. Bullish Case - This is a perfect time to scale into a position, anticipating BMRN to become profitable when their drug Roctavian is finally approved and ramps up going into 2024 - 2025. There is an accumulation happening at this level that should bring us to the downtrend, at the very least. Let's see what the level looks like when it surpasses 85.55. Bearish Case - They are barely profitable. Shouldn't long-term investing involve sound fundamentals? It seems like a lot of hope is invested in the bull case. This is not a discount; it is a warning shot. A warning that will solidify when the 83.51 level collapses like a house of cards built on beach sand. There's no beneficial foundation to support it hitting new highs YTD, suggesting this will end negatively by December. Conclusion - This is a high-risk, high-reward kind of setup. Granted, if the level holds, this could be extremely beneficial. However, it needs a catalyst to drive investors back. If managed correctly, you can keep losses low if it fails and enjoy considerable success if some good news comes out before the year's end. Bullish - 85.55 Bearish - 83.51
NASDAQ:BMRN
by JDTheGreat
Crude Oil Slows Down For A New CorrectionCrude oil faced strong drop and spike back in May, which can be also considered as the final leg of wave (5) of A, so we are aware of a higher degree A-B-C recovery after strong reversal up from the lows. After a completed wave A and expanding triangle in wave B, which is tricky, but still a bullish pattern that already sent prices higher, ideally within a five-wave bullish impulse into wave C. Now that came back to projected April highs for wave 5 of (3), we can see a new, higher degree A-B-C correction within wave (4) that can retest 77-75 support area before the uptrend for wave (5) resumes.
NYMEX:CLU2023
by ew-forecast
1
Commodities Are Waking Up From The SupportCommodities are waking up from the support with the help of China stocks and there's room for more upside. Bloomberg commodity index with ticker AW made a nice three-wave (A)-(B)-(C) correction with the wedge pattern into wave (C). Unless it has alternatively unfolded a leading diagonal from the highs. Anyway, in both cases we can expect a recovery, at least for a temporary period of time. Currently we can see it nicely breaking out of projected wedge pattern, which indicates for a bigger recovery, at least back to the starting point of the that wedge pattern near 120 area, or maybe even higher if correction is completed.
CBOT:AW1!Long
by ew-forecast
USD Can Make A Pullback As US Yields DropUSD keeps moving higher, possibly on speculation that House vote on U.S. debt ceiling today will pass today. However, stocks are down, which can have something to do with China, where the PMI index declined once again, and also faster than expected. Technically speaking, USD is in uptrend, but yields found some resistance recently so I am wondering if USD is possibly also going to have limited gains. Looking at DXY intraday chart we see nice recovery, but now in late stages of an impulse from May 04 so we are aware of a pullback, possibly will show up as we will get an outcome from the House vote, or USD can slow down later this week when we will get the US NFP data. But keep in mind that we will be tracking only a correction here on XXX/USD pairs and that more upside will be expected for the USD, once DXY makes three wave retracement.
TVC:DXY
by ew-forecast