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XAUUSD - Ascending Channel Breakout As Shown XAUUSD has broken out of its ascending channel and impulsed downward giving indication gold may be in a bearish trend now and the trend has reversed. It seems we are in the first wave of the Elliot wave theory which is the impulse wave that is shown on the chart. We may see a further continuation or we will see a retrace to the key FIB levels of 61.8 (1922) or 78.6 (1939) before we see a continuation downward. Either way we should wait for confirmation of the trend line breaking or confirmation of the key FIB levels showing signs of resistance. I marked this Idea to be Invalid around 1961 and the target levels to be around 1830 and 1777. Upgrade your trading with me For FREE SIGNALS and if you would like to see updates on this idea and many more please follow: @wrightwayinvestments @wrightwayinvestments @wrightwayinvestments ✅ Hit the like button, and share for more!
OANDA:XAUUSDShort
by WrightWayInvestments
4
OXY - Great setup NYSE:OXY - Elliott wave Analysis Warren Buffet bought OXY in Q1,Q2 and Q3 of 2022. We can't all be Buffets but a a good setup might be in place right now. A clear upward impulse wave starting in October 2020, with an extended third wave that reached its peak on May 31, 2022. Since then, we have been witnessing a period of consolidation in the form of a retracement wave (4). The sideways movement of the price is characteristic of a triangle pattern. Triangles are a slow and sideways movement that indicate a balance in the convictions between bulls and bears. They are only present in waves 4, B, and X, preceding the final wave of a sequence. The eventual outcome of a triangle pattern is a wave 5 of the impulse sequence, also know as the post triangle thrust. The good part is that we can calculate this post triangle thrust. In terms of Fibonacci retracements, the current retracement of 0.236 in wave 3 aligns with the second most common Fib retracement for wave 4. It is important to note that triangle patterns can be difficult to trade. Why because in this case the triangle can take the form of a B wave at a larger degree than fall in wave C finishing the correction. than moving up in wave 5 of the larger impulse wave. This may not be relevant in the current situation, however, it is important to exercise caution and keep this in mind." When they conclude though, they result is the post triangle thrust. ConclusionGood upside potential at least to $74 level 13% increase from the current level. There is also another energy stock with the same wave count NYSE:PXD this time with a dividend yield of 11 %. Legal Disclaimer: The information presented in this analysis is solely for informational purposes and does not serve as financial advice.
NYSE:OXYLong
by WavesInvesting
1
BTC Last impulse down before BULL Season startsBTC Last impulse down before BULL Season starts. Right now either Running Flat or Expanding Flat needs to complete before going down as last impulse. Feb 1st, FOMC meeting will trigger Crypto, Stock market down. Will need Short Set up for shorting. Will need lower time frame like in 4H Break of Structure (breaking last higher low). Then will need to the same break of structure in 15min time frame, wait price to enter up into the order block zone and/or order block candle to enter Short.
BITFINEX:BTCUSDShort
by negheart8
EURUSD - Double Top Bearish IdeaAs we can see in EURUSD a double top has formed and the structure of it has been broken indicating that the pair would like to push down. Also upon retracing it rejected at a key Fib level 61.8. This is also a key level for the Elliott wave theory for wave 2 indicating we are in the formation of wave 3 which should be an impulse down furthering this bearish sentiment. I see this set up being invalid around the 1.07150 area. If you would like to see updates on this idea and many more please follow and hit the like button for more!
Short
by WrightWayInvestments
1
AUDUSD - Rising Wedge Bearish PotentialAs we can see AUDUSD formed a rising wedge and broke the structure of it pointing the pair to the downside. To further this bearish sentiment AUDUSD also rejected a key FIB level @78.6 after breaking structure and retracing. Usually this is a great indication we may be in the 3rd wave of the Elliott Wave Theory which should be followed by a great impulse downward. I set this idea to be invalid if price continues upward around 0.68750 with setting take profit at 0.66100 and 0.64656 If you would like to see updates on this idea and many more please follow and hit the like button for more!
Short
by WrightWayInvestments
6