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Alikze »» SHIB | Upward wave 3 scenario🔍 Technical analysis: The scenario of the 3rd wave of the rising super cycle
- In the analysis presented in the previous post , after an upward wave up to the area of 2.618, the previous wave itself experienced significant growth.
- Currently, in the weekly time frame, after going through a downward trend in a channel, it managed to have a complex structural correction to the green box range, which led to an exit from the channel.
- Therefore, according to the current momentum, it will have the ability to reach the target of Fibo 1.618 range and then up to its previous ceiling.
- After that, if the previous ceiling is broken, the rising wave can extend to the specified supply area.
💎 In addition, if the previous floor or green box of stabilization occurs, the bullish scenario will be invalidated.
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BINANCE:SHIBUSDT
Consolidation could lead to new ATH. Still wanted to sell thoughGold remains in consolidation, and a new all-time high could be on the horizon.
However, I still anticipate a significant correction.
For now, I'm staying out of the market, looking for opportunities to fade the current move, with the expectation of at least a 500-pip target.
UsdJpy could return to 150In mid-September, USD/JPY dropped below the 141.80 technical support level and even briefly fell under 140.
However, this bearish move was short-lived and ultimately proved to be a false breakout. The pair quickly recovered, and despite some signs of a potential continuation of the downtrend from the trend line on Monday and Tuesday, yesterday's session was marked by a strong bullish engulfing candle that broke above the falling trend line.
At this point, the path for further gains seems clear, with 147 and possibly 150 as upside targets for the bulls.
In conclusion, as long as technical support holds, I am looking to buy on dips.
Dollar bulls are strong hereIt has now been exactly a month since the DXY dropped to its price at the start of the year, which also serves as a technical support level. The price has bounced back from this zone twice but has failed to break above the 102 resistance, falling back each time.
However, each time the bears attempted a decisive break downward, the bulls stepped in and pushed the price back up. Although the price did dip below the support zone on two occasions, these breaks were minor (around 0.2%) and did not qualify as significant.
Yesterday, the price once again reversed strongly from this well-established support zone. It seems as though the bulls are waiting for a catalyst to trigger a true reversal.
I anticipate that the USD will strengthen in the coming days and weeks.
A break above the 102 resistance would confirm a bottom and open the path for further gains, with 104 as the next target.
EURUSDEURUSD . Potential long opportunity.
Our previous idea for EURUSD has been correct . We believe that EURUSD will continue to the upside after coming down to our PBA 1 (Pull Back Area) . Our entry is sitting at the pullback area at 1.11363 . Break above our PBA 2 would result in higher highs . Our TP (Take Profit) is sitting at 1.12300 . If price falls below our PBA 1 it would invalidate our trade idea. SL (Stop Loss) is set at the break of our PBA 1 at 1.11110 .
PARAMETERS
- Entry: 1.11363
- SL: 1.11110
- TP: 1.12300
KEY NOTES
- EURUSD has fallen to our PBA 1.
- DXY still weak.
- Break above PBA 2 would confirm higher highs.
- Break below PBA 1 would invalidate the trade idea.
Happy trading!
FxPocket
Gold's Aggressive Rally. Still looking for correction thoughWith Gold making new all-time highs every day since Friday and no resistance levels in sight, it's challenging to time and find an entry point for a short trade.
Although my short position from yesterday hit the stop-loss, my view remains the same: Gold should correct by at least 500 pips.
Technically, since the low last Thursday, Gold has surged by 1,200 pips, with this move contained within a very aggressive uptrend channel, which is often a sign of a final leg in a rally.
Currently, the price is testing the median support, but more confirmation is needed before entering a short position.
This could happen with a daily close below 2630 or if there's a failed attempt to reach a new ATH during the day.
In conclusion, while I remain bullish in the medium term, at this moment, I am focused on identifying a strong entry point for a short trade, expecting a 500 pips correction.
Silver could drop from resistanceAfter bouncing off the 28 support zone and breaking above the falling trend line, Silver continued its upward momentum, reaching key resistance around the 32 level.
Now, the price has begun to pull back, signaling a potential correction.
The 30 level stands as a crucial support to watch, with an interim support at 31.
Gold- Correction loomingGold began the week by setting new all-time highs, with the latest at 2644.
However, the bulls appear to be losing momentum, and the recent rise has formed a small rising wedge, which suggests a potential pullback.
In conclusion, while the medium-term outlook remains very bullish, in the short term, I’m looking to sell in anticipation of a test near the 2600 zone or just slightly below.
EURUSDEURUSD . Potential long opportunity.
This is an adaptive analysis!
Our idea for EURUSD is a long after the price has fallen to our PBA (Pull Back Area). With DXY showing weakness we do believe that EURUSD could rise to our target 1.11674 . Our SL is set at 1.10751 .
In second scenario , we could see EURUSD make a deeper pullback down to 1.10500 which could be the second entry . Targets remain the same while SL would sit around 1.10150 .
PARAMETERS
- Entry: 1.11057
- SL: 1.10751
- TP1: 1.11363
- TP 2: 1.11674
KEY NOTES
- EURUSD has fallen to our PBA.
- Adaptive analysis.
- DXY showing weakness.
- EURUSD may make a deeper pullback to 1.10500.
Happy trading!
FxPocket
Hellena | GOLD (4H): Long to 100% Fibo lvl 2673 (Wave 3).Colleagues, I believe that the price has not finished the upward movement in wave “3” of the higher order and wave “3” of the lower wave.
After a small correction of 2603 I expect a continuation of the upward movement to the area of 100% Fibonacci extension (level 2673).
It is quite possible that this movement will not start immediately and will be preceded by a slightly deeper correction.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
BtcUsd- Again at a juncture pointIn my previous BTC/USD analysis, I mentioned that as long as the 58k zone holds, a rebound to the 61,500 zone, with an extension to 64k, was likely.
Currently, the price is just below the second target, a critical point defined by horizontal resistance and the falling trend line from the channel.
Bulls need to break above this level for a strong final in 2024. However, if they fail to reclaim this zone, a drop to 50k becomes a strong possibility.
EurUsd- Fall to 1.1 once more?Last week was favorable for Euro bulls, with the price climbing back to 1.12.
However, after three failed attempts to break above this level, the price has dropped sharply today and is now resting on the 1.11 support zone.
I anticipate a break below this level, with the next target being 1.10.
My strategy is to sell into rallies, with a stop above 1.12 to negate the setup.
Hellena | BITCOIN (4H): Long to resistance area 64879.Dear colleagues, after analyzing bitcoin I came to the conclusion that the price is in an upward impulse, but the correction “2” is not yet completed or almost completed.
I believe that after reaching the area of 56398 the price will again rush in an upward movement with the goal of reaching the area of 64879 in wave “3”.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!