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Waveanalisis

USD/JPY Shows Potential for RecoveryThe Japanese Yen (JPY) has pared some of its gains against the USD in the Asian trading session, as investors remain cautious about the timing of a potential rate hike by the Bank of Japan (BoJ). Expectations around President-elect Donald Trump's policies have also supported U.S. Treasury yields, weakening the JPY. However, the potential for a sharp depreciation in the JPY seems limited, as there are concerns that Japan may intervene in the foreign exchange market to support its currency. Geopolitical risks may also provide some support for the JPY, while a restrained USD is likely to influence the USD/JPY pair. Traders are waiting for U.S. housing market data for further cues. Looking at the technical chart, the pair is recovering and continuing its upward momentum, supported by a strong level at 154.1. Although the resistance at 155.2 is a challenge and may not be breached immediately, after a pullback to the 154.5 support, the pair could gain momentum to break through that resistance. Overall, despite some limiting factors, the outlook for a USD/JPY recovery remains positive, provided support at 154.1 holds and resistance at 155.2 is cleared in the near term. This is my view — what do you think?
by Alisa_Rokosz
Gold - Elliot's Wave Analysis - March 2024 - Short, then LongThis post will go over 3 wave degrees for $OANDA:XAUUSD. Primary (4h) Intermediate (1h) Minor (30 mins) Primary Degree: Wave 1 came to an end just below the December 2023 high of 2088, meaning we are likely entering a wave 2 of a 5 wave impulse. This can be seen on the image below where: The diagonal trendline links the high of 2148 till the high of March 1st 2024 at 2088.36. The horizontal trendline linking the high of December 2023 at 2088.58 and the high of march 1st at 2088.38. Intermediate Degree: The wave 1 of the primary degree was a zigzag forming an A,B,C. I tried fitting an impulse sequence but an A,B,C respected the rules and guidelines more than a 5 wave did. Wave A is an impulse from the start at around 1984 to the end of the 5th at 2041. Wave B is a 3 wave flat corrective and wave C is an impulse with an extended 5th. These can all be seen on the Minor degree (see last section of post). Minor Degree: As mentioned in my previous post, The wave 1 of the primary degree was a zigzag forming an A,B,C. Wave A is an impulse from the start at around 1984 to the end of the 5th at 2041. Wave B is a 3 wave flat corrective and wave C is an impulse with an extended 5th. When breaking down wave A, we can establish a clear 5 wave sequence where wave 4 is an expanding triangle leading to a last push (wave 5). The expanding triangle can be seen as A,B,C,D,E and all respect the rules and guidelines of the wave principle. Wave B and wave C form a 5 wave impulse where Wave B is a flat and a double correction on the smaller degree, hence why the markings of W, X, Y. The end of the flat (Wave B) is also the end of Wave 2. Wave C, on the smaller degree (Minute, 15 min) forms a 5 wave sequence. This can be seen from the end of Wave 2 and the start of Wave 3 on the Minor degree. The Minor degree's 5th wave is extended, rejecting the high, ending the current Minor 5th wave and Intermediate C wave. the image below should allow for clear visualization. When placing the Fibonacci retracement on the wave 1 of the Primary degree, the most likely retracement point is between, the now support of the monthly trend line going back to 2080 in Dec 2023 till it's break on feb 29th at 2048, and the 0.618 fibonacci level at around 2048.9. The Fibonacci retracement levels can be seen on the second image below this text. In conclusion, the most likely outcome is for a 5 wave sequence on the Intermediate degree and Minor degree to be our Primary degree Wave 2. I have placed a short till 2043.95 due to the possibility of the retracement to reject the diagonal trendline a bit below the 0.618 level. I will then Long the 3rd wave till the current ATH, if this 3rd is extended, the next target should be at the most, 2190. Otherwise we will see wave 5 reach near this level on the Primary degree.
OANDA:XAUUSD
by Noah_Haitas_HSE
☕️Coffee futures (KC): third wave bull market.●● Preferred count ● Coffee Cash (KC.C), 🕐TF: 30D Fig.1 In Fig. 1 , the wave count from 02/07/2022 . At the moment, the market is in the initial stage of the development of the primary wave ③ . The alternative scenario is the same — the continuation of the formation of the wave e of (IV) , as it is marked in black . ______________________________________________ ● Coffee C®️ Futures (KC1!), 🕐TF: 6h Fig.2 The wave ① formed the shape of an expanding diagonal . There is another infrequent pattern on the chart — an expanding triangle at the position of the wave (X) of ② . Growth is expected to continue. ______________________________________________ 📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
ICEUS:KC1!Long
by TradeWaves-EWA
1
NZD CHF ANALYSIS hello traders I will share an accurate analysis of the NZD CHF Using waveform analysis and smart money strategy First, the wave analysis The main motive wave is to the downside and now the price is correcting and the correction is still not completed. We have a strong bullish wave and a bearish wave in the form of an ABC pattern. I have to have another strong upward wave Secondly, Smart Money The price was moving in a downtrend and is lower high and lower low Then there was a change in behavior and a higher high . universe Then it is equal high and represents the liquidity, and we have confirmation of price reversal from the block of orders where the price was lower high and lower low and there was a change in behavior and the price was higher high and higher low By 90%, the price is heading to break the level of 0.57000
Long
by ARABTRADERX45
Bearish trend to reach its end ?As we can see on the chart, Gold is struggling under dollar's pressure. It is making lower highs and now a lower low on bigger timeframes. RSI on the daily started showing bullish divergence. However, wave 5 can be equal to wave 1 when we meet an extended wave 3. This length will be reached on 1635 level for Gold. From another perspective, it can go to 1585 (1.25 Fib retracement, same as the previous bearish wave in 2021). You can still think that we were in an overall bullish trend with an irregular correction ABC, extended to more than 100% fib retracement, so now we are in the wave C, formed by 12345, we meet the same fifth wave, and follow the same analysis. Wait for buying setups near these critical levels. Goodluck, Joe.
OANDA:XAUUSDLong
by joe-abdallah
2