harshjapee

harshjapee

The daily chart view for DAX, could be still suggesting that the drop could accelerate, prices break below 12000/11900 mark, which is the Neck Line as displayed. Further to our discussion yesterday, DAX has plunged around 200 points and could continue wave (3) or C lower until 10200 levels, as being highlighted as 1.618 Fibonacci extension. Also note that...

harshjapee

Continuing the discussion from yesterday, Gold daily chart is suggesting that prices might have found support at $1160 mark, slight lower than what was expected. Looking at the structure from December 2015 till now, the potential triangle consolidation still remains intact, with prices potentially testing lower support zone. Furthermore, today's pattern could be a...

harshjapee

The daily chart view for US Dollar Index might be suggesting that a top could be in place around 96.95/97.00 levels yesterday. The ending diagonal view presented yesterday has been changed to the most probable count for wave (5) termination. Lower degree counts are suggesting 5 waves push from wave (4) on the chart displayed here and hence it would be safe to...

harshjapee

The EURUSD daily chart is probably producing a Morning Star bullish reversal pattern, after printing lows at 1.1300/01 levels yesterday. As highlighted on the chart view here, the pair could begin its much awaited counter trend rally (A-B-C) from these levels. The existing wave structure is suggesting that an impulse wave lower could be complete at 1.1300 levels...

harshjapee

Hello Everyone, Bitcoin is seen to nearly complete its 3 Wave decline than began from sub 20000 levels in December 2017. It is safe to exit all shorts around these levels if still holding. The highlight is to watch out for a reaction on higher timeframes around current levels: Convergence of 7 month old Trend line support, fibonacci 0.618/0.786 of previous rally....

harshjapee Updated 

EURUSD pair after stopping out many including us, finally looking to reverse after printing 1.2537 highs yesterday. Still a reversal pattern needs to be confirmed on Daily Chart but the pin bar can be considered a potential reversal at least. 5 waves rally might have completed from 1.0350 levels. Selling on rallies ahead of 1.2537 levels, remain a favored trading...

harshjapee Updated 

After having produced a bearish view few weeks back, a probable wave count is proposed here. Bitcoin hit the soft target below 10000 levels before pulling back. The underlying is most probably producing an (A)-(B)-(C)-- 3-3-5 flat at a higher degree. If this count holds, we should witness fresh lows towards 7500-8000 levels before the underlying finds meaningful...

harshjapee

A slight change in the corrective wave here. Instead of a proposed triangle, the underlying has finally completed a flat around 17000 levels. Resistance stands around 16000 levels now. Trading point of view there is no change: please remain short with stop at 20000 and target below 10000. Good luck! Harsh Japee

harshjapee

Bitcoin looks to be consolidating within a triangle for now. If prices push above A, it should attempt for a flat. But in both cases, the underlying is correcting the earlier drop from sub 20000 levels. At least an (A)-(B)-(C) drop can be expected at one higher degree going further. Trading point of view, it is good to remain short again @ 15000 levels, stop @...

harshjapee

Gold finally completes an expanded flat, a probable alternate discussed in December 2017. The metal being broadly in a multi year triangle, is carving out wave D lower which completes at 1200 levels at least. If the triangle count holds true, prices will remain broadly below 1357 levels and continue into wave (C) towards 1200 levels. Trading point of view, look to...

harshjapee

Gold has pipped us twice with the sharp rally cutting through all resistances. We present 3 probable wave counts below, and they all keep the bigger picture intact. 1. An expanded flat: This should push prices close to 1310 levels at least before drifting lower sharply towards fresh swing lows. 2. Ending Diagonal: Wave C, within an A-B-C correction can be an...

harshjapee

Gold clears 1277, stopping us out today. This rules out wave 4 that we were anticipating at a lower degree. It is quite possible that the metal worked out wave (1) earlier and wave (2) is now penetrating through the fibonacci 0.618/0.786 resistance levels. Also note that the metal is seen testing resistance trend line and a bearish reaction here would still keep...

harshjapee

The GBPUSD story remains unchanged for now, except for a small potential change highlighted here. Wave e within the triangle also unfolded as a triangle making 9 sub waves for the entire consolidation (contracting triangle). If this count holds true, we should see a break lower soon. Watch out for 1.3300 handle break to accelerate lower. Please remain short, stop...

harshjapee

Bitcoin story continues as discussed last week except that the aggressive longs triggered at breakeven levels. The underlying has completed either an A or wave 1(looks impulse) as labelled here. The subsequent wave structure is also corrective till now (an a-b-c), indicating a potential termination of wave B or 2. The fibonacci 50% has been tested here but be...

harshjapee

Finally Bitcoin gives us something in terms of probable wave counts to work upon. First things first, if you have held shorts from sub 18000 levels, please take profits around 12700/13000 levels. To continue the story, the drop from sub 20000 levels can be counted as 5 waves labelled here (an alternate is just a-b-c, not shown here). What implies is that we have...

harshjapee

Continuing the story from yesterday, the underlying has been in a consolidation. Not speculating much about a bearish reversal at the moment but certainly it could be an A-B-C correction as discussed earlier. The recent price action suggests that Bitcoin is unfolding into a potential triangle. Normally triangles precedes the 5th wave. In this case the 5th wave can...

harshjapee

Gold wave (4) looks to have finally terminated at 1268.30/40 levels yesterday. It might be too early to predict but the story begins to unfold at smaller degrees first! The yellow metal seems to have formed an impulse wave 1 and corrective wave 2 at a lower degree and the 3rd wave should be on its way now through 1250/52 levels. Lets see if it unfolds into an...

harshjapee

To continue the story ahead, BTC is seen to be consolidating since yesterday. The waves are sub dividing as 3 each. It could be producing an expanded flat 3-3-5 with high probability. Too early to confirm a trend reversal but at least an A-B-C deeper correction seen in sight for now. Remain short from yesterday, stop above 20000 target 12000 and 10000. Sincerely Harsh