The potential downside of goldhello traders
gold under the bears
The current rise is just a correction and its liquidity has been seized. The price of gold may collapse at any moment
Waves
Fed decisions boost the USD trendThe Fed raised its funds rate by 75 basis point to a target range of 3.00% - 3.25%, its highest since 2008.
DXY remains bullish, even technically, supported by a rising trendline, 20 and 50 SMA on D1.
Even if the RSI starts showing overbought signal with bearish divergence, and Bollinger bands upper limit reached, it isn't in this case a sell signal: strong momentum brings traders into this trap.
Wait for RSI to cross below the 14 SMA as described on the chart to start looking for a correction.
Measuring the corrections shows us strength recently in the momentum ( smaller corrective waves ).
Measuring the impulsive wave shows us that the uptrend hasn't reached yet it's logical goal.
With the good news on the USD, the index can reach the 114 level.
Goodluck,
Joe.
[09/22] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis
About eight hours ago, there was a FOMC announcement.
The interest rate hike was 75bp (GiantStep), which came as expected.
The general announcement is that the labor market is fine, but prices need to be watched a little more, adding that the goal is to raise 125bp by the end of the year.
At the time of the announcement, NASDAQ and Bitcoin moved very sharply, and after the announcement, they eventually started to fall, and NASDAQ led them to leave the bottom, and then Bitcoin left the bottom.
Analyzing with Elliott waves, there could be a big drop.
Assuming that the impulse drop wave started from 22.8k, the abc wave appeared in the 2 and 3-2 shown in the middle, and there is a possibility that it will fall to 3-3 par starting with the FOMC announcement yesterday.
It's just one of the perspectives, but in this case, I think we should be a little careful in the long position because there is a possibility that it will not only leave the low point of 17.6k, but also go below that due to the panic cell.
If you leave the most important line 17.6k, you don't know how far you'll fall because there's no big line or support line at the bottom.
Always check 17.6k, and the market is very difficult because the beat is currently located in an ambiguous position.
If the position you thought of doesn't come, I recommend you not to enter the position.
NIFTY 50, WAVES(THIS MONTH)!!although nifty 50 has crossed 18000 previously in its 3rd wave, it will reach its new all time high in 5th wave. nifty 50 is following the waves very greatly. i had previously drawn waves for bull run and updated you till 3rd wave. now here's an update for the 5th one.
i have explained each and every trend line , bull run in my previous nifty 50 analysis, and i will link it below, you will understand my analysis more understandingly, after reading the description of those analysis.
nifty is already in a bull run, this bull run is carried in 5 waves, and now we are in the last wave of it.
let see what happens after that...
USDCADWave C of B is being completed, price targets have been identified. This wave can advance even up to the range of the previous price ceiling.
TANLA PLATFORMS, BREAKOUT!!, WAVES. although tanla did not gave a breakout, on its 3rd wave, because it follows 5 wave pattern. the waves have come perfectly, to prove this statement, i have drawn a purple line, connecting the points, which defines the 4th wave(correction point) for the 5th wave to give a breakout.
and a orange line defining a breakout in 5th wave.
volume accumulated for a breakout
Bitcoin analysis Temporary rise and then fall
Hello Traders
this is my plan for bitcoin buy short term and sell long term
XAUUSD UPDATE ( SHORT) price action
support and resistance
wave analysis
impulse wave
momentums
distribution
XAUUSD LONG hello traders
The gold is under the control of the bears, but the buyers are still strong, and liquidity will be expelled before the price drops, so you can look to buy or wait for a good selling opportunity
EUR USD UPDATE (SHORT) The structure is broken if there is no reaction from buyers so the price will drop from here
EUR USD LONG Hey Traders
EUR/USD is under the control of bears and the price will fall but will expel liquidity first, so it is now possible to look to buy or wait for a selling opportunity after the liquidity is expelled
