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Wave Analysis

GBPJPY → Buyers increase positions to break 195.5 ↑FX:GBPJPY continues to climb purposefully towards 195.5, forming a consolidation in the form of an ascending triangle. The goal of this maneuver is to break the resistance with further continuation of the upward movement... The bulls are trying to keep the defense above the key support at 193.5. The change of the fundamental background for JPY strengthens the sales of the national currency, which favorably affects, in our case, GBP. As a consequence, the market starts testing 195.5 with the aim of a breakout. GDP in UK remained at the same level of 0.2%. There is important news ahead - PPI. Based on the previous economic data, we can assume that PPI will also support the dollar, which will negatively affect the JPY. On the background of this influence, the bulls will be able to overcome the key resistance. Support levels: 193.5, 191.7, 190.0 Resistance levels: 195.5 The acutal situation on the chart is directed towards the continuation of the movement. The market structure is changing, the fundamental background is on the side of the buyer. We are waiting for the breakthrough of the key resistance (trigger) and the continuation of growth... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPJPY ;) Regards R. Linda!
Long
by RLinda
7
Gold Rebounds as Bulls Seek New Highs Amid Market ShiftsAt the start of the week, gold has quickly regained its upward momentum, aiming for new highs. Currently, the precious metal is trading around $2,731, with the bulls firmly in control of the market. On Friday, gold saw an influx of buying interest, which slightly eroded the previous day’s gains as the USD weakened. This shift was supported by expectations of a less aggressive easing policy from the Federal Reserve. Additionally, a generally positive tone in the stock market has somewhat dampened demand for this safe-haven asset. However, ongoing political uncertainty in the U.S. ahead of the November 5 presidential election, persistent geopolitical risks from ongoing conflicts in the Middle East, and further declines in U.S. Treasury yields are providing solid support for gold prices.
OANDA:XAUUSDLong
by Pierce_Bowers
XAUUSD_1D🏌‍♂XAUUSD_1D🏌‍♂ Analysis of Anas Gold in daily and long-term time According to Elliott waves, the market is big in wave 3. If the price is maintained above 2713, it is possible to continue the rising wave and it can complete wave 3 at the price of 2990 and 3000 dollars. And then for the mid-term time, enter the correction as wave 4 and then the new wave as wave 5 to complete its range of $3333. ⚠️ In any case, the number 2713 is lost, the price of waves will change. The main number is 2666 dollars.
OANDA:XAUUSDLong
by Elliottwaveofficial
BITCOIN - The Next Target: Minimum $118K...After months away from analyzing the Bitcoin chart, I revisited it and identified a straightforward count, clearing away previous complexities to better estimate Bitcoin’s next target. Based on this count, we’re now in Wave v of Wave 5, marking the final movement in this 5-Wave sequence that began in 2008. In this video, I’ll also cover the key levels to watch if you’re looking to trade this move higher. Stop Level: $58,971 Target 1: $118,000 Target 2: $174,000 This is just an idea and is not investment advice. Always trade with caution.
Long
by AriasWave
1
ETHUSDT.1DReviewing the ETH/USDT daily chart provides a clear perspective on Ethereum's current market dynamics within defined technical parameters. Key Observations: Resistance Levels: The chart highlights 'R1' at $2,829.29 and 'R2' at $3,565.20 as the main resistance levels. These points have previously acted as ceilings for price action, suggesting areas of potential selling pressure. Support Levels: The primary support at 'S1' is currently at $2,101.09, with further downside protection potentially near 'S2', indicated on the chart. Descending Resistance Line: A key feature is the descending resistance line, which has been consistently capping price advances, indicating a prevailing bearish bias in the longer-term market trend. Technical Indicators: Stochastic RSI: The Stochastic RSI is nearing the lower end of its range, suggesting that the asset may be approaching oversold conditions. This could signal a potential reversal or at least a pause in the downward momentum. MACD: The MACD is currently below the signal line, indicating bearish momentum. However, the histogram shows decreasing negative momentum, suggesting that the selling pressure might be easing. Strategic Approach: Given the proximity of the price to 'S1' and technical indicators suggesting potential oversold conditions, there might be a tactical opportunity to look for entry points around this support level for a rebound, especially if other indicators such as the MACD begin to show signs of a bullish crossover. If 'S1' holds and the price rebounds, targeting a move towards 'R1' could be feasible. It would be prudent to set a stop-loss just below 'S1' to mitigate risks in case of a breakdown. A breach of 'S1' would necessitate a reassessment of the bullish scenario, potentially shifting focus to 'S2' for further support levels. Conclusion: ETH/USDT is currently in a delicate position, testing significant support amidst bearish trend signals. The outcome at 'S1' will be critical in determining the short-term market direction. Traders should monitor this level closely for signs of stability or a further breakdown. As always, maintaining robust risk management strategies is essential to navigate potential market volatility effectively.
by MarsSignals
DYDXUSDT.1DAnalyzing the DYDX/USDT daily chart, several key features and indicators suggest potential strategies for navigating this market effectively. Key Observations: Resistance Levels: The chart identifies 'R1' at $1.1761 and 'R2' at $1.4895 as significant resistance levels where price action has previously shown selling pressure. These levels will be crucial for determining potential breakout points. Support Levels: The current support 'S1' at $0.8072 is pivotal. The price has rebounded off this level recently, indicating it is a significant zone where buyers are stepping in. Price Action: The price has been relatively range-bound, showing recent spikes that tested 'R1' but failed to break through, suggesting a consolidation phase within these boundaries. Technical Indicators: Stochastic RSI: The Stochastic RSI is in the lower range, indicating potential oversold conditions which could precede a price reversal or at least a stabilization. MACD: The MACD is below the signal line, which traditionally suggests bearish momentum. However, the histogram is close to the baseline, indicating that the negative momentum may be waning, which could precede a bullish crossover. Strategic Approach: Given the current setup, my approach would involve closely monitoring the price action around 'S1'. If the price holds at this level, it could present a buying opportunity, particularly if other indicators like the MACD begin to show signs of a bullish crossover. The target would be an initial move towards 'R1', with a further view to 'R2' if momentum increases. Conversely, a breakdown below 'S1' could indicate a shift to a more bearish market sentiment, potentially leading to lower prices towards $0.8330 or lower. Such a move would necessitate a reevaluation of the bullish outlook and might prompt short positions or an exit from long positions. Conclusion: The DYDX/USDT pair shows potential for upward movement if it can sustain above 'S1' and challenge 'R1' again. Traders should prepare for both scenarios: a bounce from 'S1' or a breakdown below it. Monitoring the Stochastic RSI and MACD will be crucial in identifying the strength and timing of potential moves. As always, employing rigorous risk management practices will be essential to navigate this volatile market effectively.
by MarsSignals
BTC complex waveActually it took me a lot of time to reveal this hypothesis. In my opinion, we are in a very complex correction that the price hesitates below a very important downtrend line that prevent the price to go to the sky. I can count some waves and expect that the price is going down a little bit to 66,600 and then start a small impulse, wave c of wave (X). so you can trade this small bullish wave and be careful of the (Y) impulse that may go down to significant value. What I have to say, be careful and always use your own risk management strategy. Good Luck
Long
by ahmed_fawzy
3
GBP/CAD Bearish Breakout Expected from RangeGBP/CAD is expected to break out to the downside after a period of ranging market conditions. Despite multiple market data releases, the pair remained unaffected and has shown a consolidation pattern. I believe the ranging phase is over, and GBP/CAD is now beginning a bearish trend. The first target for this move is 1.76450 , with potential for further downside Currently, the RSI is below the oversold level, indicating a possible correction before the breakout continues. I plan to add some positions at this point, and if the RSI impulsively moves up to the 50 level, I will add more positions. Best of luck with this bearish trade!
Short
by ClearTradingMind
MAHARASTRA SEAMLESS--ACCUMULATEThe company exhibits positive divergence with a low P/E of 9.2 and a dividend yield of 1.62, with an intrinsic value of 650. It is undertaking capital expenditures of approximately Rs. 852 Cr funded through internal accruals, allocated as follows: Narketpally (USTPL) at Rs. 264 Cr, Mangaon (MSL) at Rs. 195 Cr, and Nagothane (MSL) at Rs. 393 Cr. Additional working capital requirements are projected at Rs. 300 Cr for USTPL and Rs. 250 Cr for MSL, also to be financed from internal accruals. The company has prepaid its long-term loans for the Telangana plant and rig acquisitions in October 2022 and June 2023, achieving a zero-debt status. There are no inter-corporate deposits (ICDs) or corporate guarantees outstanding as of 31st March 2024. The promoters have been consistently increasing their stake over the past seven years. The company's total order book is approximately Rs. 1754 Crore, indicating the end of Wave 2 .
NSE:MAHSEAMLESLong
by tanrakesh47815
JAMNA AUTO--accumulateLooking good in chart at one of the good support zone , accumulate for good returns. Company is currently supplying springs to aftermarkets in over 15 countries. Looking to add ~40 new countries. ~800 number of existing part numbers for export. client -Ashok Leyland, Force, Fuso, GM, Bharat Benz, Isuzu, Mahindra, Renault Nissan, Scania, SML Isuzu, Escorts, Tata Motors, UD Trucks, Volvo, etc. major aim --1. Increase contribution from new products from 47% in FY24 to 50% 2. Increase contribution from new markets from 21% in FY24 to 50% 3. Increase ROCE and dividend payouts to 50%
NSE:JAMNAAUTOLong
by tanrakesh47815