Currently, gold is facing strong resistance in a chromatic state, which is still not sufficient for entering a selling position. Therefore, we must wait for the chromatic support breaking range and decide for a long-term selling position.
Dow Jones, on the 15-minute time frame, is likely to return to the range of the yellow China point and then continue its upward movement for the completion of the triangle pattern and subsequently proceed towards the target.
Currently, on the 15-minute time frame, the Euro is preparing itself for a short decline until the yellow China point, after which it will move towards the target, meaning it will complete the flag pattern.
The Euro has currently reached the upper limit of its long-term descending channel, and it has the potential to further deepen by moving towards lower regions.
On the 8-hour time frame chart, I have a descending correlation. Currently, there are two double-bottom patterns simultaneously present. It is advisable to wait patiently until the patterns trigger before making a move for lower risk. However, considering higher risk, we can enter a buying step.
Hello, in this analysis, in the first section, I illustrated the probability chart of movement towards an AB= CD, using Fibonacci tools. The next section, indicated by red boxes, represents the order block ranges. Finally, take-profit levels are marked with green numbers, and stop-loss levels are indicated by red numbers.
Hello, in this chart, I tried to identify the best retracement range. However, it is advisable that for trading, we first observe the initial signs of retracement at the specified point.
The five-wave Elliott pattern has concluded; review my previous analyses. Currently, we may observe a downward movement to initiate the first wave in a smaller time frame, or if we are on a larger taime , we might be anticipating the beginning of wave C.
In the previous analysis I conducted yesterday, I predicted an upward trend to the range of 16,500. Today, if the specified region does not cross the boundaries of the red box area, we will witness a downward trend within the defined ranges on the chart.
"As I specified in the analysis, currently the price is very close to precisely rejecting the 618 Fibonacci retracement level, demonstrating a positive reaction. The next resistance zones are the order blocks at 16,400 and, in the subsequent step, at 16,500."
"In the daily timeframe, we have observed a reaction to the butterfly harmonic pattern in the past. So far, there has been a correction to the 50% Fibonacci level. The expectation is for the downward trend to continue until the 61.8% level. Subsequently, with the confluence of the 200-day moving average, it is anticipated to initiate its support and rise above $12."
After completing the beautiful pattern, Butterfly, and finding support in the chromatic trendline, it continued its upward trajectory. It was anticipated to extend its upward move within the range of its 0.618 Fibonacci ascent
"The static support is in the range of $205, and the diagonal resistance in the first step is around $218. It's possible that, after crossing $220 and touching $230, there might be a drop to $215 as a means of collecting liquidity. Afterward, we should be prepared for a pump towards $240."
Harmonic patterns generally have good reactions. In the first step, the 38% Fibonacci retracement level, and in the second and third steps, the 50% and 61.8%, respectively. However, at the beginning of the trend, we should wait for confirmation with a bearish candle.
In counting the waves, we have reached the current point, it is possible that the previous bottom also follows the downward trend, on the other hand, it is possible to start its upward trend, according to the previous shadow candle, in any case, both scenarios have the same meaning.
In this 2-day time frame chart, there is no recommendation for a short position. Instead, consider giving more time to the market only to complete your long-term portfolio.
Based on the obtained pattern and the minimum stop-loss threshold, we can examine this matter, and if we observe a similar trend with your trading strategy, we can enter this trade.