Wave Analysis
USDCHF Zigzag Corrective Rally Expected to FailThe USDCHF currency pair has been trending downward since its high on January 13, 2026. The pair follows a pattern known as a 5-wave impulse in Elliott Wave analysis. This pattern helps traders predict price movements by breaking them into distinct waves. Starting from the peak, the first wave (wave 1) saw the pair drop to 0.8965. After this decline, a brief recovery, or wave 2, pushed the price back up to 0.9196. From there, the pair resumed its downward trajectory in wave 3, which unfolded in several stages.
In wave 3, the price first fell to 0.8356, marking the end of an internal sub-wave (wave ((i))). A small bounce to 0.8583 completed wave ((ii)). The decline continued, with wave ((iii)) reaching 0.8096, followed by a slight rally to 0.8203 for wave ((iv)). The final leg of wave 3, wave ((v)), bottomed out at 0.803, wrapping up the third wave.
Currently, USDCHF is in an upward correction in wave 4, which is taking the shape of a zigzag pattern. From the low at 0.803, the pair climbed to 0.8124 in wave (i). Pair dipped to 0.8066 in wave (ii) then rose again to 0.8286 in wave (iii). A pullback to 0.8194 marked wave (iv), and the final push to 0.8311 completed wave ((a)), the first part of wave 4. Right now, the pair is experiencing a short-term pullback, called wave ((b)), correcting the rise that began on April 21, 2025. As long as the key support level at 0.8036 remains intact, USDCHF is expected to resume its upward movement soon, potentially reaching higher levels before the next major trend develops.
GLDGold has extended slightly passed the 2.618 extension fib and then began to fall back down. It is too early to tell if price has finally topped or not. It is no coincidence though that it started moving lower as the market started moving higher. I believe that any drop in price for gold is only temporary. It will, IMO, begin to move higher again around the time this larger consolidation of the indices completes.
Should price start to move higher again, we will need to look towards the 2.786 & 3.0 for points of resistance. However, if a local top is in fact in place, we would then continue lower in an overlapping/choppy fashion. I will update as it warrants.
CAD/JPY Rally Could Fade Near Resistance – Watch for ShortsThe CAD/JPY pair is currently trading within a well-defined descending trendline. Multiple rejections are visible around the 108.300, 105.864, 105.434, and 105.044 levels, confirming strong bearish control over the medium term.
Price has recently bounced from a critical horizontal support near 101.246, forming a short-term bullish move toward the descending trendline. We are now approaching a confluence zone near the 103.800–104.000 area, where the downtrend line intersects. This zone is a potential supply area and could act as a strong resistance.
Trade Idea: Sell Setup Near Trendline (103.800–104.000)
Target: 102.532, 101.250
Invalidation: Break and close above 104.200
SLB could bounce SLB is still in a down trend but we could’ve found bottom. Tomorrow is earnings and it sure looks like a D1 breakout to the upside. If correct tomorrow’s earnings report hopefully will send us higher. Long term 1st target $74.41. (I may close my original investment here) I see oil reaching all time highs in the future if so SLB will as well. I’m already in collecting dividends.
WULF / 4h#TeraWulf has developed an A-B-C sequence in wave (W) since mid-November,
So that's just an initial subdivision of the correction in one larger-degree downtrend.
The decline of impulsive wave C should have ended at 2.06, with an expanding diagonal
in its fifth wave. >> A rising tide in a five-wave sequence towards the origin of the ending
diagonal wave ((v)) will highly confirm turning the Minor-degree trend upward.
#CryptoStocks #WULF #BTCMining #Bitcoin #BTC
Mid Term Short on EURJPYIn the short term, I predict a bounce back to the trendline as we sweep some liquidity around this current location. If/When we break the 155 support, we will hit a minimum of 140 and even lower.
This is an idea. If you agree with the fundamentals of the chart you can follow my trade.
Short-term target with price reversal from 1.55
Target 1 - 159
Target 2 - 161.500 (I will look for a reversal and short from this location)
Price target with price breaking below 1.55 support zone
Short Term Target - 140
Mid Term Target - 135
CORZ / 4h#CoreScientific has developed an ABC correction in zigzag as wave (W), which started in late November with an expanding diagonal as wave A and a running flat in wave B. Now, the decline in its wave C seems to be ending diagonally quite as well.
As illustrated on this NASDAQ:CORZ 4h frame, an expected Minute-degree 5th wave will conclude the diagonal wave C in the coming few days.
>> A final decline of 23% would likely lie ahead.
#CryptoStocks #CORZ #BTCMining #Bitcoin #BTC
GOLD OUTLOOKThis chart is a technical analysis setup for Gold Spot (XAU/USD) on the 1-hour timeframe, showing a potential sell (short) trade idea. Here's a breakdown of the chart elements:
🔍 Key Zones Identified
Entry Zone:
Around 3380$-3394$
This is the suggested area where the trader plans to enter a short position (sell), expecting price to reverse downward from here.
Stop-Loss Area:
Ends near 3,415.80 USD
This zone is above the entry area and marks the risk level — if the price reaches here, the setup becomes invalid and the trade would be exited at a loss.
Target / Reversal Zone:
This is the take-profit area where the trader expects the price to potentially reverse or where they will close the short trade with profit.
📉 Trade Idea Visualization
Price is expected to move up slightly into the entry zone.
Then reverse downwards, hitting the target near the reversal zone.
✅ Summary of the Setup
Bias: Bearish
Strategy: Wait for price to hit entry zone (~3,380.00), then sell
Stop-Loss: Above 3,415.80
Take-Profit: Near 3,246.35
Risk-Reward Ratio: Favorable (large potential reward vs. smaller risk)....
Tesla - This Is Actually Not Gambling!Tesla ( NASDAQ:TSLA ) still looks quite bullish:
Click chart above to see the detailed analysis👆🏻
Just a couple of weeks ago I published a bunch of analysis, explaining all the reasons for a potential -40% drop on Tesla. However on the higher timeframe, Tesla still looks quite strong and with the bullish break and retest playing out so far, we could even see new all time highs soon.
Levels to watch: $260, $400
Keep your long term vision,
Philip (BasicTrading)
DAX Resistance Ahead! Sell!
Hello,Traders!
DAX is trading in a strong
Uptrend, recovering itself
From the trade-war lows
And the index is locally
Overbought so after the
Retest of the horizontal
Resistance above at 22,500
We will be expecting a local
Bearish correction
Sell!
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Elliot wave corrective ABC Triangle pattern Wave A is an impulsive wave that 5 subdivisions. Wave B is an abcde triangle and each wave has 3 subdivisios. a-b of the triangle is connected by wxy (also has 3 subdivisions each).
Look at smaller time frame to see (and confirm structure). Currently looking out for wave d of the triangle (wave 1 of 3) to complete then followed wave e 3 waves in the opposite direction, before there can be any break-out.
This is only an idea not financial advice
BELUSDT 1H TIMEFRAME - ELLIOT WAVES FROM FIBONACCI RETRACEMENTI just played with the Fibonacci retracement tool and traced the 5 waves with the minimum expected values.
--> If the probabilty with the retracements remains like this, then we could expect at least these results with the retraced minimum values .
--> Else if it collpases under the starting point of the wave 1 then these retracements should be ignored.
GOLD → False breakdown and change of mood...FX:XAUUSD is strengthening after a false breakdown of support at 3288, with the change in fundamental sentiment due to US statements on the tariff war also providing support for the price.
On Thursday, gold rose from a weekly low of $3,260, supported by a weaker dollar and renewed concerns about US trade negotiations with China and Japan.
Optimism about tariff cuts quickly faded after denials from the White House. Weak US business activity data is fueling talk of a possible Fed policy easing, which is also supporting gold. The markets remain focused on trade news and Trump's statements.
Technically, gold could reach the liquidity cluster at 3314 and continue to rise towards strong resistance at 3370.
Resistance levels: 3342, 3370, 3387
Support levels: 3314, 3288, 3270
Below 3314 and below 3288, a liquidity pool has formed, which the market is likely to test before continuing its growth. It is too early to talk about a resumption of a strong rally, as the situation between the US and China is complicated, as are the negotiations on the situation in Eastern Europe, which seem to be moving towards talks, but every time something goes wrong...
Best regards, R. Linda!
2025-04-24 - priceactiontds - daily update - dax
Good Evening and I hope you are well.
comment: Bulls in full control, next target is the Globex to 22535 or 22586 on the daily chart. Volume is atrocious and we are in a global trade war but hey, let’s go for another ath I guess. This will crash down to 19000 and lower again, zero doubt in my mind.
current market cycle: trading range
key levels: 21000 - 23000
bull case: Bulls want 22535 or 22586 next. Above that there is no reason not to go for 24000. Nothing more to say about this tbh. Measured move from the lows to spike high is 24375 and yes, I think it’s beyond insane and yes I also think we could get there over next days.
Invalidation is below 21700.
bear case: Bears need prices below 21780. Simple as that. They are not doing anything right now but any decently bad news could get us there. If they print 21780, it only means something if they then close the Global gap to 21674. So far away and unlikely that we get a strong bear trend tomorrow. Market will probably need to range first before we could maybe sell again.
Invalidation is above 22600.
short term: Neutral. Having a hard time believing we can do another bull trend up tomorrow. I expect sideways into the weekend. Anything below 21800 is a bear surprise to me
medium-long term from 2024-03-16: Bear trend is ongoing but for now I still think 19500 and below is an amazing buy if you can hold for years. Things will have to turn really bad for this market to find acceptance below the bull trend line from the covid lows and right now this trade war is just front running. Markets were not priced for risk 3 weeks ago but this drop was too much too fast. My bearish targets for this year are met and with the current environment I will not call for lower prices than 19000. If the trade war turns real bad, yeah sure but for now it’s not.
current swing trade: None
trade of the day: Buying the bear trap 21900, betting on a higher low and that the big globex gap stays open. I traded it horribly and went long way too late but it was still enough to went green on the day.
CAD-CHF Will Keep Growing! Buy!
Hello,Traders!
CAD-CHF is trading in a
Local uptrend and the pair
Made a bullish breakout
Of the key horizontal level
Of 0.5939 so we are bullish
Biased and now that the
Pair is going up again we
Will be expecting a
Further bullish continuation
Buy!
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