KironKavanagh

KironKavanagh

Chart 1: XAUUSD H1 (1-Hour Timeframe) • Wave Structure: The chart shows a correction after the completion of Wave (i), followed by a corrective Wave (ii), which is a typical Elliott Wave pattern. • Entry Point: The price appears to be in the early stages of Wave iii, suggesting that entering a long position at the current level could be beneficial. • TP: The...

KironKavanagh

Chart 1: XAUUSD H1 (1-Hour Timeframe) • Wave Structure: The chart shows a correction after the completion of Wave (i), followed by a corrective Wave (ii), which is a typical Elliott Wave pattern. • Entry Point: The price appears to be in the early stages of Wave iii, suggesting that entering a long position at the current level could be beneficial. • TP: The...

KironKavanagh

Current Observations: 1. Resistance Zones: • 78.688 to 79.134: Major resistance zone indicating potential selling pressure. • 77.203 to 77.500: Intermediate resistance area. 2. Support Zones: • 75.453 to 75.726: Immediate support zone where the price is currently around. • 72.719 to 72.992: Strong support zone further below, marked in yellow. Trading...

KironKavanagh

A recent survey of Bloomberg experts revealed that only 30% anticipate a rate increase from the Bank of Japan in July. Most respondents expected a modest reduction in quantitative easing (QE). However, the evolving dynamics of inflation and wage rates are prompting the BoJ to consider more decisive action. Let's discuss this topic and make a trading plan for the...

KironKavanagh

H1 Analysis: • Wave Structure: The chart shows a clear impulsive wave structure followed by a corrective wave. • Wave Count: • The impulsive wave structure is labeled from (i) to (v), indicating a complete 5-wave sequence. • The corrective wave is labeled as (a), (b), and (c) forming an ABC correction. • Current Position: The price appears to be completing...

KironKavanagh

Daily Chart Analysis The daily chart of GBP/USD shows a clear Elliott Wave structure with key waves and corrective patterns. Here’s the detailed breakdown: 1. Primary Wave (1) and Wave (2): The chart begins with an impulsive primary wave (1) that ended in early March 2023. This is followed by a corrective wave (2), which appears to be a Zigzag pattern (a-b-c),...

KironKavanagh

Chart Analysis H1 Chart: • The chart indicates a clear Elliott Wave structure. • Wave (ii) appears to have ended around the 1.06631 level. • Wave i of the current impulse seems to have completed near 1.09605. • A correction wave ii is likely in progress, with potential support at the 1.07727 level (61.8% Fibonacci retracement). H4 Chart: • The larger wave...

KironKavanagh

1. Short-term (H1 Chart): • Wave Structure: • The chart shows a completed five-wave impulse pattern, denoted as (i), with a subsequent correction likely underway, labeled (ii). • The first wave (i) consists of five sub-waves (i, ii, iii, iv, v). • The correction wave (ii) appears to be forming an A-B-C structure. • Fibonacci Retracement: • The correction...

KironKavanagh

Major Wave Structure 1. Primary Waves • W-X-Y-XX-Z: The chart begins with a complex corrective structure indicating a prolonged corrective phase. • 1-2-3-4-5: Following the complex correction, an impulsive wave structure is apparent, suggesting the beginning of a new trend. 2. Subwaves • Each primary wave consists of smaller-degree waves, identified using...

KironKavanagh

Major Wave Structure 1. Primary Waves • W-X-Y-XX-Z: The chart begins with a complex corrective structure, which is common in Elliott Wave Theory to describe prolonged corrective phases. • 1-2-3-4-5: Following the complex correction, an impulsive wave structure is apparent. 2. Subwaves • Each primary wave consists of smaller-degree waves, identified using...

KironKavanagh

I usually use separate chart software for much of my technical analysis, so this prediction is based on alternative software in addition to tradingview Major Wave Structure 1. Primary Waves • W-X-Y-XX-Z: The chart indicates a complex corrective pattern, often referred to as a double or triple three. • 1-2-3-4-5: Following the complex correction, the chart...

KironKavanagh

Chart Analysis H1 Chart: • Elliot Wave: • The chart indicates the formation of waves within the Elliot Wave structure. We see the completion of waves (i) and (ii) with an ongoing development of wave iii. • Wave (ii) correction appears to have completed, implying the start of wave iii downwards. • Potential target for wave iii could be the 50% Fibonacci level...

KironKavanagh

Elliott Wave Analysis H1 Chart: • Current Wave Count: The chart shows that the pair is in wave (ii) of a larger degree downtrend. • Wave Structure: After completing wave (i), an a-b-c corrective structure forms wave (ii). This indicates that the pair may be preparing for the next impulse wave (iii) downwards. H4 Chart: • Current Wave Count: The chart...

KironKavanagh

Elliott Wave Analysis 1. Daily Chart • The daily chart shows the USDJPY pair in a corrective phase within the larger uptrend. • Wave 3 appears to be completed, with a sharp decline indicating the beginning of wave 4. • The target for wave 4 correction is around the support level at 151.852. This level is crucial as it coincides with the 38.2% Fibonacci...

KironKavanagh

Daily Chart Analysis The daily chart suggests that the GBPUSD is currently in the third wave (III) of a larger degree impulse wave. The prior wave structure includes: • Wave 1: An initial upward move. • Wave 2: A corrective wave that retraced part of the first wave. • Wave 3: The current wave in progress, which is typically the strongest and longest wave in...

KironKavanagh

Overview: The EUR/USD is analyzed using Elliott Wave Theory, which is a form of technical analysis used to forecast market trends by identifying the waves of market sentiment. This analysis spans multiple timeframes (H1, H4, Daily), providing a detailed perspective on the potential future movements of the pair. H1 (Hourly) Analysis: • Current Wave Pattern: The...

KironKavanagh

Comprehensive Analysis of Gold (XAU/USD) Focusing on Elliott Wave Daily Chart Analysis 1. Wave Structure: The daily chart indicates that the fifth wave of a larger degree (5) is in development, with wave 3 of (5) forming as part of it. 2. Correction and Impulse Waves: The chart shows the completion of a fourth wave correction (iv) within wave 3 of (5),...

KironKavanagh

Profit-Taking: After gold reached near-record highs earlier in the year, many investors started selling to lock in profits. This is a common reaction after significant rallies, contributing to downward pressure on prices . Strengthening U.S. Dollar: The U.S. dollar has been strengthening, which typically leads to a decline in gold prices as it becomes more...