mohemati

mohemati

As shown in the chart, price is currently at the end of wave 1 of 5. In the short term, this suggests we may see a bearish corrective move to form wave 2, after which the bullish move could resume. Let me know if you have any questions about Elliott Wave analysis!

mohemati

In the 1H timeframe, it appears that price has completed a 5-wave bullish impulsive move, which may now be followed by a 3-wave bearish corrective move. So far, we have observed legs A and B of this bearish correction, but wave C has yet to form. Therefore, as long as price remains below 2747, we can anticipate this bearish move to unfold.

mohemati

#Bitcoin overall #Elliottwave count of the primary bullish move since late November 2022. With price breaking above the bearish trendline that had kept it lower since March 12th, we can confidently say that the complex consolidation under wave ④ of iii has ended, and we're now in the impulsive wave ⑤ of iii. Looking more closely at wave ⑤, we can see that waves...

mohemati

Based on the current Elliott wave count, it appears that the price is at or nearing the top of wave 5 on the daily timeframe. As a result, we might anticipate a price downturn, if not a full reversal. At this point, it would be prudent to lock in profits and prepare for a potential downward movement. Additional confluences, such as the occurrence of bearish...

mohemati Updated 

Hi folks, hope you're doing well. Looking at oil, we can identify a clear 3-wave bullish move. In my view, the price is currently forming a wave C of wave 4. Following this, we can anticipate the start of wave 5. Historically, in commodities, wave 5 is often the extended wave, which means, if we're correct, this setup offers a favorable risk-to-reward...

mohemati Updated 

The prolonged bullish impulsive move under wave 3 has likely come to an end. This outlook is based on several confluences, including the formation of a rising wedge pattern, which is a bearish reversal signal, along with the presence of bearish divergence. As a result, we could anticipate a bearish reversal move to complete wave 4. In the chart, I’ve highlighted...

mohemati

The overall wave count of hashtag #gold's primary bullish move on the daily timeframe shows we are nearing the top of wave 3 in this impulsive move that started in November 2022. I believe we are approaching a critical point where wave 3 will complete, followed by a potentially manipulative wave 4, which could set the stage for an extended wave 5—possibly...

mohemati Updated 

The price formed an ABC bullish corrective move, which suggests further downside potential. After breaking below the 1H higher low (as indicated by the arrow), the structure shifted to the downside, confirming the likelihood of a bearish move. Excited to see how this pair unfolds in the coming sessions.

mohemati Updated 

Based on Elliott Wave theory, wave 5 of a motive move is often one of the best to trade, and we might have the opportunity to catch it here. It appears we are at the end of wave 4, which, in comparison to wave 2, has been more complex and prolonged, in line with the principle of alternation. Additionally, the price seems to be forming a failure swing, which is a...

mohemati Updated 

A clear 5-wave bullish move has formed, with the fifth wave taking the shape of an ending diagonal, or what could also be termed a rising wedge pattern. Regardless of terminology, this is a bearish pattern with a high potential for reward. Further confirmations include a bearish divergence between price and the MACD oscillator during the formation of wave five,...

mohemati

Here’s what we could expect from DXY in the coming days: This extended bullish move is likely wave A of an ABC corrective structure to complete wave 4. Given the clear bearish divergence between price and the oscillator, we are likely nearing the top of wave A. From here, we could see a bearish move, which would be corrective in nature and related to the higher...

mohemati

A clear 5-wave bearish impulsive move, followed by an ABC bullish correction, sets the stage for a potential bearish wave C or wave 3. From a trading perspective, it’s not crucial whether the next wave is C or 3, as both scenarios indicate a likely bearish move. Additional confirmation comes from the bearish divergence between potential waves 3 and 5 in the...

mohemati Updated 

As seen in the chart, silver has formed a 5-wave bullish impulsive move and has since begun a bearish move, which could be labeled as wave A. As we know, corrective waves typically occur in three waves. I believe we are nearing the completion of wave B, which could lead to another bearish leg to complete wave C. This entire 3-wave bearish move could then form...

mohemati Updated 

In this chart, as you can see, we might be dealing with an inverse head and shoulders pattern. If confirmed, this pattern could lead to higher prices. However, before taking any positions, it would be prudent to wait for a shift in the lower timeframe market structure toward a bullish trend to ensure stronger confirmation of the move.

mohemati Updated 

From an Elliott Wave perspective, it appears that the price has formed wave 3 in an impulsive bullish move. Therefore, we can anticipate a bearish corrective move to complete wave 4. Based on the principle of alternation, since wave 2 was a sharp correction, wave 4 could potentially be a more prolonged, time-consuming corrective phase. This suggests that the...

mohemati

Based on this Elliott Wave analysis, we are likely at the beginning of a bullish wave 5. This suggests that corrective wave 4, which formed as a regular flat pattern, has concluded, and a new bullish move is set to begin. As a result, any bearish corrective move should be viewed as a potential buying opportunity. Let me know if you like Elliot wave analysis.

mohemati

As you can see in the chart, we might be observing a potential Head and Shoulders pattern forming on the 1H timeframe in GBPCAD. Given the bearish market structure on the 4H timeframe, this 1H bullish move could be viewed as a corrective rally within the larger downtrend. Additionally, there is a bearish divergence between the left shoulder and the head, further...

mohemati

we are clearly seeing a bearish move in 1H timeframe market structure and therefore I am only interested to sell this pair for the moment. Price is below 1H timeframe EMA, and also printing consecutive lower lows and lower highs. Price target could be around bearish channel lower line.