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Wave Analysis

XAUUSD Forecasted Trade Idea ( 30 Oct 2024 )XAUUSD Forecasted Trade Idea ( 30 Oct 2024 ) This chart appears to analyse the gold spot price (XAU/USD) on an hourly time frame, with Fibonacci retracement levels and potential Elliott Wave analysis applied. Here are a few observations that could guide a forecast: Fibonacci Retracement Levels: The retracement levels, especially the 1.618 (2,781.45) and 2.618 (2,821.04) extensions, suggest potential resistance areas if the price continues to increase. Elliott Wave Structure: The labelling suggests this might be a wave (v) of a larger impulse wave, with a potential pullback before a final upward push to complete the structure. Possible Scenarios: Bullish Scenario (Yellow Path): The price might retrace to around the 1.23 or 1.0 Fibonacci levels (2,766.10 or 2,756.99), then find support and resume an upward trend towards the 2,821.04 mark. Bearish Scenario (Red Path): If the price fails to hold above key Fibonacci support levels, it could retrace further down to the 0.786 (2,748.52) or lower levels, suggesting a larger correction. Potential Entry Strategy For a Long Entry: Wait for the price to confirm support at or near the 1.23 (2,766.10) or 1.0 (2,756.99) Fibonacci levels and look for bullish reversal signals (e.g., bullish candlestick patterns). For a Short Entry: Consider entering if the price breaks below the 0.618 Fibonacci level (2,741.87) with confirmation, aiming for lower levels like the 0.382 (2,732.53) or below. Conclusion If the price holds above the 1.0 Fibonacci level, the primary direction looks cautiously bullish. However, if support breaks, a bearish correction could be expected. A conservative approach would be to wait for clear confirmation of either scenario before entering a position. Slowly but surely.... Trade Wisely guys...
PEPPERSTONE:XAUUSDLong
by mustaqim.mazuky
Elliott Wave View: Apple (AAPL) Looking to End Wave 5Short Term Elliott Wave View in Apple (AAPL) shows a 5 swing diagonal from 9.16.2024 low. Up from 9.16.2024 low, wave 1 ended at 233.09 and dips in wave 2 ended at 221.15. The stock resumed higher in wave 3. Up from wave 2, wave ((i)) ended at 225.97 and dips in wave ((ii)) ended at 224.22. Stock resumed higher in wave ((iii)) towards 229.75 and pullback in wave ((iv)) ended at 227.12. Final leg wave ((v)) ended at 237.49 which completed wave 3 in higher degree. Wave 4 pullback unfolded as a double three Elliott Wave structure. Down from wave 3, wave (a) ended at 232.81 and wave (b) ended at 234.44. Wave (c) lower ended at 229.84 which completed wave ((w)). Up from there, wave (a) ended at 234.19 and wave (b) ended at 230.52. Wave (c) higher ended at 237.23 which completed wave ((x)) in higher degree. The stock turned lower in wave ((y)) with internal subdivision as a zigzag. Down from wave ((x)), wave (a) ended at 233.3 and wave (b) ended at 236.85. Wave (c) lower ended at 227.3 which completed wave ((y)) of 4 in higher degree. The stock has turned higher in wave 5. Near term, as far as pivot at 221.1 low stays intact, expect the stock to extend higher.
NASDAQ:AAPL
by Elliottwave-Forecast
Gold: Prepare to short or lighten your longsFrom my previous analysis on 1st Oct saying that Gold is taking a break, it did a sideway correction for the next 6 trading sessions before pushing up again. That was a "neutral" call. Now, I see that Gold is reaching wave 3 target of $2801, meaning there should be a meaningful enough wave 4 correction to go short or at least lighten your longs. There is a convergence of 3 Fibonacci extension levels around $2801, plus completion of 5-wave structure.
TVC:GOLDShort
by yuchaosng
1
You should google it! $NASDAQ:GOOG NASDAQ:GOOG Investors sometimes overlook that Google is one of the original FAANG stocks, underscoring its significant influence in tech and resilience over time. Earnings Highlights: • EPS: $2.12 vs. $1.84 expected • Revenue: $88.27B vs. $86.31B expected Ever wonder if a company holds a monopoly? Look no further than when its products become synonymous with everyday language, and it has the financial power to acquire nearly any competitor in its path.
NASDAQ:GOOGLong
by coilemard
1
HDFCBANK : Approaching Key Breakout ZoneOverview: HDFC Bank Ltd. is showing a series of breakout attempts, suggesting a build-up of buying pressure. The stock has repeatedly tested a resistance zone, indicating a potential for a breakout if this level is breached with strong momentum. Key Levels and Zones: Resistance Zone (Multiple Breakout Attempts): The stock has faced resistance around the ₹1,750 - ₹1,760 level on multiple occasions, marking this area as a critical breakout point. A sustained breakout above this level, particularly on a weekly basis, would signal bullish strength and could lead to a strong upward move. First Resistance for Retest (₹1,881): Once the breakout is confirmed, the stock may face initial resistance around ₹1,881, where some consolidation or a retest of the breakout could occur. Second Resistance for Consolidation (₹1,992): If the stock sustains above ₹1,881, the next significant resistance level is around ₹1,992. Consolidation at this level could provide additional momentum for further upside. Target Zone (₹2,231): Upon clearing the earlier resistance levels, the stock has potential to reach the target zone at ₹2,231, representing a new high and a possible long-term target for investors. Technical Indicators: The stock is trading near its 200-week moving average, suggesting it is above a strong long-term support level. The formation of higher lows indicates an uptrend, adding to the bullish sentiment.
NSE:HDFCBANKLong
by LiveTradingBox
Tesla Update Potential Great ROI Trade coming up Good evening or morning trading family So I created a quick video on a update with Tesla which I felt was important to create for everyone. Currently we are retracing up from a target that I will show you how I got in the video. However two things to mention if we can break 260-263 range we are looking pretty healthy for a bull run up. However if we go back to retest 255.66 we could potentially face another break and further bearish momentum. Any questions or comments let me know, like follow boost if you found this helpful Have a great night trading fam Mindbloome Trading Trade What You See
NASDAQ:TSLALong
by Mindbloome-Trading
BTC - Finally a Trade Worth TakingSo in our group the other day I posted a trade with a potential target of 95k. Yes we have been patient and patient and even more patient waiting for the right setup. Finally I there was a setup I liked and so we took it. This was a broad seven (7) month consolidation which is often indicative of 4th waves. Look at Gold for example, broad consolidation before the next leg higher. Well same here for Bitcoin. Now why Goldie do you take a trade at "the high"? I know you will hear many so called Furu's talk about not wanting to take a trade at a high. Well the philosophy on this is equities making new highs, make higher highs, and after a broad consolidation, a breakout is generally bullish for the equity. This is exactly what we have here is a pretty broad breakout. So where was the signal? Pretty simple here, nice inside bullish pinbar on the weekly with two closes above the upper boundary. I like that, shows selling is likely exhausted. Continuations occur after selling is exhausted and often when shorts get stuck trading the boundary. Here we are. Though I have added some Bitcoin during the consolidation, (I sold my BITO and bought BTC outright, I didn't like the speed of decay) I am also taking a trade here. Now who knows what happens, it is not uncommon to get a retest of the boundary before the move happens, and if so, and we get tapped out, I will just look for another trade. The key here is we are getting 3:1 or better on our RR so if I am right 50% of the time, I am making money! There are a couple other coins I am looking at for this next bull run, and as I shared with the group today I have bought another coin in anticipation for a bull run. I am looking at always adding some more because once my buds that don't trade anything start talking about buying ELO I already want to be positioned. Markets are still bull and I am going to follow up with a silver report. BULLL on silver baby!!
COINBASE:BTCUSDLong
by goldbug1
5
Expecting an upside breakRecently, I published an analysis on this currency pair in which I mistakenly drew the target price for wave B. Generally, corrective wave B is equal to wave A in terms of time and price, and wave B is often shorter than wave A. Currently, wave B is equal to wave A in terms of time. Additionally, the price has recently formed a triangle pattern, and it’s expected that once wave B is completed, it will break upwards from this triangle, complete wave C up to the end of the channel, and then resume its downward trend. So, we are waiting to see if the price will break this triangle upwards or downwards.
Long
by habib75rajabi
BTCUSDT Breaks Free: End of Consolidation, Next Stop 100,000?Hey Realistic Traders, let’s dig deeper into the analysis of BINANCE:BTCUSDT ! In the weekly timeframe, Bitcoin is in a bullish continuation phase, potentially marking the start of wave 5. It has also broken out of a Descending Broadening Wedge pattern that formed over more than half a year, signaling the end of a prolonged consolidation phase. Such breakouts from extended consolidation often confirm a continuation of the bullish trend. Additionally, the MACD has shown a bullish crossover , indicating building momentum. Based on these technical factors, we project a potential upside toward the target at 88,293. Upon reaching this level, a pullback to the green support zone of around 70,000 could occur before the price advances to a secondary target at 104,542. This outlook remains valid as long as the price holds above the stop-loss level at 56,930. Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Bitcoin.
Long
by financialfreedomgoals101
4
Solana - Wave 4Can see a wave count here with anticipated abc/abcde correction leg into the larger wave 4 count. This would line up with post-election rally with a possible fakeout of Head n Shoulders pattern depending on the structure of the correction leg. May be lagging BTC fractal pattern by few days as it does its consolidation retest from ATH rejection. Markets very volatile, a lot of uncertainty with election nearing and mid-east tensions ect. Could see a higher Wave 3 here, but can already count a smaller 5-wave cycle within the larger Wave 3 as it heads into Macro trendline Resistance.
by BiggyBalls
2024-10-29 - priceactiontds - daily update - goldGood Evening and I hope you are well. tl;dr Gold - 2800 is close, nothing is stopping this. BTFD. I expect bigger profit taking around 2800. gold comment: I gave the 2800 target a long long time ago and we are close. Only question is, where do you enter new longs? We have a decent channel upwards where the lower trend line is around 2760. Market also respected the 1h 20ema today. We have a big bull trend line from July right above us and that should be resistance until clearly broken. I can’t see this breaking above it, so I would rather buy on pullbacks and I do think there is a very good chance we will see a bigger correction once we reach 2800. current market cycle: late bull trend key levels: 2750 - 2800 bull case: Bulls want 2800, that’s it. Any pullbacks should stay inside the current channel and not go below 2760. The rally has become climactic and we can expect a pullback/correction soon. Invalidation is below 2760. bear case: Bears see the pattern which lead to around 2800 and it’s a big obvious number. Not many want to short this until market has reached it and they see more bulls taking profits. That is why we are currently in a big hurry to get to the target and bears are not fighting it. On the monthly chart this rally is beyond climactic already and I seriously don’t know if Gold ever printed bigger gains in 4 months or even 4 straight big green months at all. This price action is unsustainable and we will see a bigger correction over the next months. Invalidation is above 2810. short term: Bullish and you should not look for shorts until we have touched 2800 and bears build much greater selling pressure. medium-long term - Update from 2024-09-22: Very strong breakout above, again. Market currently has no ceiling. Most likely 2700 next and I do think 3000 could be a potential target if we continue. There is certainly an argument for a measured move based on the bull rally from 2018-08 to 2020-08. current swing trade: None trade of the day: Buying the breakout around US open above 2770, which was a textbook breakout and good for 160 ticks. Also legit was buying the 1h 20ema, which could have been more profitable but with more risk since your stop had to be wider.
COMEX_MINI:MGC1!Long
by priceactiontds