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Wave Analysis

Strategy after NFP data news releaseGold rebounded today. Although the space is not large, gold did not continue to fall. The downward momentum of gold began to weaken, and gold still has the possibility of rising. If it continues to rise, yesterday's decline is just an adjustment, and gold will continue to rise. Whether gold is a reversal or an adjustment, wait for the release of NFP data tonight. The 1-hour moving average of gold continues to turn downward. If the non-agricultural data of gold continues to fall, the gold moving average will form a dead cross, and the space for gold to fall will be opened. If the data of gold is bullish at night, then gold will rush up and pay attention to the suppression of the 2770 line. If it is under pressure at 2770, then continue to short. If gold falls directly due to negative news, then continue to short after the rebound. Trading strategy: BUY:2731~2733 SELL:2770~2772
OANDA:XAUUSD
by Jun-goldFX
ETHUSD: Squeezed for a Breakout - Bullish Momentum BuildingETH is currently squeezed between an ascending trendline and a strong resistance level, signaling potential upward pressure. The Market Liberator indicator shows diminishing wave patterns on the downside, which is a bullish signal indicating that selling momentum is weakening. Additionally, money flow on lower timeframes is shifting toward green, suggesting increased buying interest. This combination of technical factors hints at a potential breakout to the upside, making this setup favorable for a long position. additionally the green/yellow lines could be seen as TP'S, yellow lines are high TF S/R which tend to give an stronger reaction, and the thin green lines are 4H S/R. i suggest to await conformation for the trade and goodluck!
Long
by JornYn
Flat increasingly likely - channel guidelines show the wayOne of the best ways to simplify the Elliott wave method is by using the channel guidelines. Here we can see the corrective channel on the initial pull back from its top has been broken significantly to the downside. This indicates that it is an impulse wave, rather than any corrective pattern. In other words, the advance at this degree is complete and it's now in a more significant decline, again at this degree. Using the first 3 pivots - the top of the advance, the first low, and the next pivot high gives the corrective channel. Now that it's broken in this way it becomes a base channel for the decline. We can see it contained a second attempt to push higher before it made the impulsive move to the downside, then held a retest and continued its decline. This gives us the indication that a more significant decline is in progress. In this case, the potential is for this to be the first of 5 down to complete the 4th wave flat pattern at the larger degree advance. That means it would retrace to make a 2nd wave advance before continuing the decline - in other words, if that played out, it would give us the first 3 pivots to repeat the above channel guideline at a larger degree of pattern - the local top to the end of the first, and finally the end of the 2nd wave advance. Then we could expect the same impulsive decline to break that channel to make the 3rd wave at one higher degree. As always though, these are guidelines - never guarantees. Someone could always come in and buy up all the sell orders, sparking a return to the upside. Remember, only buyers and sellers determine whether it goes up or down.
INDEX:BTCUSD
by JCore7
XPRUSD !!As it has been doing for the past few months, the price channel that Bitcoin is trading inside is descending. When Bitcoin gets closer to the upper limit of this channel, which is around $70,000, the chance of another attempt to break through this level increases, but so does the chance of a drawback. The price action of Bitcoin has recently bounced off lower levels indicating strength according to the chart analysis but it is still stuck in this declining channel. Bitcoin will require a strong catalyst or considerable buying momentum to break above the upper trendline and launch a significant advance toward $70,000.
CRYPTO:XPRUSDShort
by FXBANkthe8055
SENDAI - Looking for a potential bullish momentumThe price is hovering near potential breakout levels around 0.565. The last candle shows some upward momentum. The downtrend line indicates resistance that the price is approaching. A breakout above this level could signal a bullish move. Buy on Breakout: If the price breaks above 0.565, this could serve as a trigger to enter a long position. Set your stop loss at 0.470, just below the significant support based on past price actions. This provides a buffer against potential losses. Ensure that the risk-to-reward ratio is favorable. With an SL set at 0.470, you’re risking approximately 0.095 per share for a potential gain of 0.065 to 0.170 (depending on which TP level is hit). Adjust position size according to your risk appetite and portfolio size. Keep an eye for a clear breakout above 0.565 while monitoring volume spikes for confirmation. Ensure to manage your risk effectively with a well-defined stop loss and take profit levels.
SLong
by mg6112
BTC Parallel Channel in Daily ChartOn the BTCUSD daily chart, we can observe that Bitcoin's price has been oscillating within a well-defined parallel channel. The upper trend line acts as resistance, while the lower trend line serves as support. This channel has been respected multiple times, making it a reliable indicator for future price movements. Key Observations : Resistance and Support : The upper trend line has consistently acted as a resistance level, limiting the upward movement of BTC. The lower trend line has provided strong support, preventing significant downward breakouts. Price Action: The price has touched the upper trend line many times, indicating a strong resistance level. Similarly, the lower trend line has been tested few times, confirming its role as a robust support level. Potential Breakout : A breakout above the upper trend line could signal a bullish trend continuation, leading to higher price levels. Conversely, a breakdown below the lower trend line might indicate a bearish trend reversal, resulting in lower price levels. Technical Indicators: To complement the parallel channel analysis, I have included the following technical indicators: 50-Day Moving Average (50 DMA): Provides a smoothed trend direction. 200-Day Moving Average (200 DMA): Indicates long-term trend direction and potential reversal points. RSI (Relative Strength Index): Indicates overbought or oversold conditions. Conclusion: The parallel channel on the BTC daily chart provides valuable insights into potential price movements. Traders should watch for a breakout above the upper trend line for a bullish signal or a breakdown below the lower trend line for a bearish signal. Additionally, keeping an eye on the included technical indicators can help confirm these signals and enhance trading decisions. Disclaimer : The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
INDEX:BTCUSD
by rukshan2102
ASI Weekly Chart Update - 29/04/2024Resistance Zone - 13300 to 13600 Support Zone - 11000 to 11275 Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CSELK:ASI
by rukshan2102
KITACON - Looking for potential price targetN wave with E, V, N & NT projection. Price is above the Kumo, suggesting bullish sentiment, though the cloud is still thin, indicating some level of uncertainty. The price is slightly above Tenkan-Sen, suggesting short-term bullish momentum. Chikou-Span positioned above the price, further confirming bullishness. Wave Structure: We see the classical A-B-C correction pattern completing around point (C), and the price has started moving upwards towards the NT level (0.775). If the price can successfully break and close above 0.775, it would likely confirm the next wave towards the N (0.845), V (0.860), and E (0.915) levels. 52-week high: 0.785, a key resistance level to monitor. A potential entry can be taken once the price breaks above the NT level of 0.775, confirming bullish continuation. Stop-Loss: Below the recent low around 0.740, providing a good risk-to-reward ratio. Given the bullish signs from the Ichimoku indicators and the N wave projection, a breakout above NT (0.775) could indicate further upside movement. However, watch for a rejection at this level, which may result in price consolidation or a pullback. Note: 1. Analysis for education purposes only. 2. Trade at your own risk.
KLong
by mg6112