Polly, pick up the crumbs of CAKEWell hello there!
I mUst say that the previous review
moderator tip - its a STORY, not an fin advise
was not entirely correct, or rather completely erroneous, because the price movement occurred in the other direction.
I suppose this is the machinations of the cunning goblins who took away the cookies they had accumulated from the hoarding dwarves during the Last Bear Massacre.
In their dirty little hands, the CAKE chart has transformed into something different and alien to our mind, because we are all used to 1-3-5 growth, and here we see only two impulse waves. Where is the fifth, where did you put it, you vile goblins? "you'll never figure out our trick white lady hehe hehe"
BUT I DID! we growin' via ZigZag ABC!! Isnt it a relevation?!
Here's the goblin chieftain's head, Your Grace, and here'z thy bag of CAKE they stole. The cookies are a little moldy, but if we introduce a fashion for moldy cookies, thy citizenz will buy it, Im sssure.
I suggest buying all cookies at 1.397-2.041 coin per CAKE, so that the average is 1.7, and we will wait for the price to rise to 15
that's the end of the fairy tale and who listened - well done :)
Az usual - understandin' thy idea obliges you to press thy missile button (let them firez in da chartz only)
if u find its silly - my regredz ;)
Wavetheory
Hellena | EUR/USD (1H): Long to 50% Fibo 1.09204.Dear colleagues, the price has safely reached the support area and formed wave 3. At the moment it is possible to update the minimum in the area of 1.08599, after which I expect the beginning of corrective wave 4 with the goal to reach 50% Fibonacci level in the area of 1.09204.
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GOLD, SHORTGold has been on an uptrend path since a new low was updated at 1812 (Friday, 6th October 2023. The bulls took over from 1812 until there was a break of structure when the price updated the LH from 2013 (11th January) to 2002 on Wednesday, 17th January 2024. The break of structure could mean that if gold price fails to retest the recent HL of 2061 on the Daily, then the recent LH of 2002 will be retested in an attempt to update that LH to possibly 1974.
Price is expected to retrace to at least 50% level in 2020 before a potential rise to retest the 2060 level but the price is expected to have a strong resistance at 2045-2048 level. However, the fundamentals lining up for the week (Flash Manufacturing PMI, advance GDP m/m, unemployment claims, Core PCE price index m/m would actually determine the direction of the gold pricing and it is necessary to keep an eagle eye on the event proceedings.
A failure to break up the 2045-2048 resistance could mean the SELLERS may drive down the GOLD Price to 2002 and further plundering down to 1974 to confirm a new low update.
Hellena | DJI (4H): Short to support area 37041.78.Dear colleagues, I assume that the price has either completed the 5th wave or is completing it. Therefore, I suppose that the price starts its downward movement. I suppose the first target is the support area 37041.78. This is the area of the wave 4 low.
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USDJPY: Riding the conclusion of Wave 5Greetings fellow traders,
I extend my best wishes for a prosperous New Year to you all.
Allow me to share my analysis of the USDJPY market. As we can all observe, the pair is currently in a bullish trend, having exhibited the attributes of an impulsive 5-wave pattern. It seems we may be witnessing the conclusion of the last impulsive wave, assuming it is not truncated.
The market appears to be in sub-wave 4 within the final wave 5. As such, I anticipate an impulsive upward movement, taking out the previous high at 145.977. My optimal entry point is at the 145.157 price level, where I anticipate market to find support.
The projected targets for this analysis are 146.883, 147.554, and the extreme upper border of the channel at 148.184. This outlook would be invalidated if the price were to dip below 144.315.
There is CPI report today. Market may whipsaw in both directions, trade with caution.
Thanks, and cheers to a more profitable 2024.
Hellena | GOLD (1H): Long to 50% Fibo 2039.Dear colleagues, the price has started a downward movement and formed wave 1. At the moment it is possible to update the minimum in the area of 2017, after which I expect the beginning of corrective wave 2 with the goal to reach 50% Fibonacci level in the area of 2039. It is possible that there will be no update of the low and the price will immediately start moving towards the target.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | GOLD (1H): Long to resistance area of 2062.47.Dear colleagues, I suppose that the price has not formed wave c in the corrective movement. Therefore, I suppose that the price will either continue its formation or will reach 50% Fibonacci level, form a full-fledged wave b and then start an upward movement. Wave c should be higher than wave a, but we will set the nearest target at the resistance area of 2062.47.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | EUR/USD (1H): Long to resistance area 1.10252.Dear colleagues, I assume that the price will continue the upward movement, because wave 3 is forming now. It should update the maximum of wave 1. Therefore, I expect that the price will come to the resistance area 1.10252. Before that, a small correction to the swing area 1.09613 is possible.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | GOLD (1H): Long to 100% Fibo 2047.117.Dear colleagues, I assume that the price has completed the five-wave structure and is currently in correction. It should update the maximum of wave 4 or at least reach its level. Hence, I expect the price to come to the area of 100% Fibonacci extension level at 2047.117. Before that a small correction to the area of 2025.872 is possible.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | GOLD (1H): Short to support area 2017.309.Dear Colleagues, the price has gone out of the plane and now I see the beginning of a downward five-wave impulse. Most likely, wave 2 is almost over or will end at the resistance area 2038.245. I expect the formation of wave 3, which will reach at least the support area 2017.309.
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AudNzd Formed A Bullish Falling Wedge Pattern!Looking for Impulse Up.
AudNzd moving up soon. AN formed a bullish wedge pattern to move up. You have to wait for TL break out with strong bulls candle then get in on retracement. It's important to have your own rules on RR and adhere to them. This trading idea is intended to assist you and enhance your knowledge. If you have any questions, please ask me in the comments.
Learn & Earn!
Wave Trader Pro
Hellena | DJI (4H): Long to area of 38153.16.Dear Colleagues, I believe that the price will still go higher, completing wave 5. Or the price will continue wave 3. I expect a small correction, after which the target will be reached in the area of 38153.16.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | EUR/USD (1H): Short to support area 1.08769. Dear Colleagues, the price is still flat. I assume that the price will continue to decline, because the price is in a large wave 2 of the higher order. The nearest target is the support area at 1.08769.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | GOLD (1H): Short to support area 2024.854. Dear Colleagues, the price is still flat. I assume that the price will continue to decline, because the price is in a large wave 1 of the higher order. The nearest target is the support area at 2024.854.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
DXY to continue declineDXY started a recovery from 100.257 from the heavy decline due to the pause in the interest rate hikes back in December 13th, 2023. The index started to recover from 28th December and to 102.723 due to the positive news from the last Friday NFP fundamentals. Price was quickly knocked down by the negative news on the ISMs late Friday.
DXY January candle has done a retracement unto the 61.8%-78.6% (EMA 20) of the December bearish candle. As a result of the retracement on the December candle, the DXY is expected to retest the weekly EMA 200 on the key level 100.500 and as at the ending of last Friday, price was resisted by the weekly resistance.
On the Daily, the DXY index is expected to retest the EMA 200 at 101.706 and subsequently retest the key level 101.500 again.
The important fundamentals this week are mainly the Thursday's Core CPI m/m and the Friday's PP1 m/m where the economists are projecting a negative news for the CPI. We need to keep an eagle eye on the news this week to make informed decisions.
Hellena | GOLD (1H): Short to support area at 2027.800.Dear Colleagues, I suppose that the downward movement is not over. I expect the low to be updated and wave 3 to end in the support area at 2027.800. This target is the nearest one.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | EUR/USD (1H): Long to resistance area of 1.10416.Dear Colleagues, I suppose that price has formed corrective wave 4 and is starting the impulsive movement of wave 5. I see the first resistance area on the way of wave 5 - the area of 1.10416. This is the area that can affect the price movement.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
GbpUsd formed a Wedge pattern(Rising Wedge)Looking for Impulse Down.
GbpUsd moving down soon.It is on retracement now. You should look for entry on lower Time Frame. GU formed a bearish rising wedge pattern to fall. It's important to have your own rules on RR and adhere to them. This trading idea is intended to assist you and enhance your knowledge. If you have any questions, please ask me in the comments.
Learn & Earn!
Wave Trader Pro
Hellena | GOLD (1H): Short to 100% Fibo lvl 2049.040.Dear colleagues, I suppose that the price is completing the corrective movement in waves a, b, c. I expect the price to reach the target of 100% Fibonacci extension level of 2049.040.
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Hellena | Oil (4H): Short to support area of 67.34.Dear Colleagues, Towards the end of the year we see a large accumulation of option contracts at levels that are well below the current price. I believe that we should look out for short positions.
I expect that wave 2 has finished its movement near the 74.80 area and I expect an impulsive wave 3, which will come at least to the target in the support area of 67.34.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | GOLD (1H): Short to support area of 2056 (correction).Dear colleagues, I suppose that we are in for a strong decline! But it will not be easy to catch the end of wave 5. I suppose that wave 5 may continue its ascent to the resistance area of 2099. Somewhere in the range near this level we should enter a short position because the five-wave structure is coming to an end and the price will enter a deep correction. If you prefer aggressive trading, you can enter the trade earlier. But the main target is in the support area of 2056.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Hellena | GOLD (1H): Long to resistance area of 2081.Dear Colleagues, I expect the upward movement to continue. Apparently, wave 5 will be longer. Another small correction is possible, but the main target is in the area of 2081.
This week gold shows an increase in the number of buyers, which means that the bulls will not give up their positions so easily.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!