The E-mini S&P 500 (ES) is showing signs of a possible market bottom formation after a significant pullback. We are seeing key support levels around 5600.00 holding strong, and the price action is showing signs of a potential reversal to the upside.
USDJPY is currently testing a key resistance level at the Neckline of a Head and Shoulders pattern on the H1 timeframe. This level has acted as a strong barrier in recent sessions, and a confirmed breakout could indicate a shift in market structure, leading to a bullish continuation. The price has retraced to key Fibonacci levels, showing potential for an impulsive move if buyers gain control. A successful breakout could align with Wave 3, a high-momentum phase in Elliott Wave Theory, pushing the price toward the 161.8% Fibonacci extension at 149.50. Trade Plan - Breakout Confirmation: Looking for price to close above the neckline with strong momentum before considering entry. - Target: Fibonacci 161.8% (149.50), aligning with potential Wave 3 expansion. - Stop Loss: Placed at 147.60 (Pocket Pivot) to manage risk effectively. - Risk-Reward Ratio: Minimum 3X, ensuring a favorable reward-to-risk setup. Key Factors to Watch - Rejection vs. Breakout: If the price fails to break above the neckline, it may lead to a rejection and a short-term pullback. - Volume Confirmation: A breakout with high volume would add further conviction to the trade idea. - Market Sentiment: Keep an eye on macroeconomic factors and USD strength, which could influence price action. Disclaimer This analysis is for educational and informational purposes only. It is not financial advice. Please conduct your own research and manage risk accordingly.
Recent price action in Bitcoin (BTCUSD) suggests an oversold bounce, with resistance capping gains at the 88,000 level. The continuation of selling pressure could extend the downside move, with key support levels at 76,112, followed by 74,222 and 67,260. Alternatively, a confirmed breakout above 91,900, accompanied by a daily close higher, would invalidate the bearish outlook. In this scenario, Bitcoin could target 95,126, with further resistance at 98,500. Conclusion: The price remains at a pivotal level, with 88,000 acting as a key resistance. Failure to break above this level could reinforce downside risks, while a breakout could shift momentum back in favor of bulls. Traders should watch for confirmation signals before positioning for the next move.
Fibonacci interconnection between Higher Low, Higher High and series of Lower Highs and Lower Lows. The side of breakout from this narrowing formation will determine the direction of trend. The fibonacci lines derived from the structure covers the limits of breakout wave. If the price resumes its downtrend, I can only assume the market is still digesting the impact of deteriorating fundamentals. When I first learned about the situation, I could hardly believe it. Essentially, the anti-immigration and protectionist policies Nebraska’s farm owners voter for, have triggered a labor exodus, as migrant workers in masses preemptively abandoned farms to avoid impending ICE crackdowns. This sudden labor shortage lowered rental income potential and more importantly affected land valuations — both of which are fundamental drivers of financial performance. At the same time, the fact that the farms depend on fertilizers 90% of which come from Canada - adds another layer of uncertainty amid ongoing trade tensions. This raises the risk of input cost spikes that could further erode profit margins. As operating costs rise and productivity declines, farmland becomes an increasingly unattractive asset class, prompting investors to reassess the value of agricultural holdings. The result is a broad collapse in prices — ironically driven by the very political and economic decisions that were believed to protect these rural businesses. If this isn’t something out of parallel universe, I don’t know what is.
This is the wave count. Zigzags upward aren’t always waves and you can’t nilly willy use EWT to make what looks good a wave count. 1. Wave 1: The first wave is the initial move in the direction of the new trend (up in a bull market, down in a bear market). 2. Wave 2: The second wave is a correction that retraces part of Wave 1 but never moves beyond the starting point of Wave 1 (e.g., in an uptrend, it doesn’t drop below the low where Wave 1 began). 3. Wave 3: The third wave is typically the strongest and longest, moving in the trend direction, and it must extend beyond the end of Wave 1. It cannot be the shortest of Waves 1, 3, or 5. 4. Wave 4: The fourth wave is another correction that retraces part of Wave 3 but cannot overlap with the price territory of Wave 1 (e.g., in an uptrend, Wave 4’s low doesn’t drop into Wave 1’s high). 5. Wave 5: The fifth wave is the final move in the trend direction, completing the impulse, and it must extend beyond the end of Wave 3. Key Notes • An impulse wave consists of 5 waves: 3 trending waves (1, 3, 5) and 2 corrective waves (2, 4). • After a 5-wave impulse, a corrective phase follows with 3 waves (labeled A, B, C) moving against the trend. • These rules apply strictly to impulse waves; corrective waves have more flexibility but follow their own guidelines (e.g., zigzags, flats, triangles).
The start of a journey to 2,618 via trading points
This is the look of a positive ride on the one day chart. As mentioned in the most recent one hour chart, xrp is moving forward and going up! Sharing the view of the one-day chart and moving forward from here with a Max buy-in xrp 3L
Continuation of original theory. Xrp bounced nicely off bottom of forming triangle and is now working back to the top of the range within said triangle. Puts us at June before we see any real price action… A break below $1.89 invalidated the triangle. A break above $3 needs to retest and bounce higher before we can confirm we are out of the range. I believe we are in a wave 4 pullback and wave 5 will be the final rally for this alt season around $4-7 dollars. NFA DYOR.
I just bought Max xrp 3L. You will notice on the 1 hour chart that there are red dotted lines to the left of the price going up this indicates that what used to be resistance is now support and when I look at the right side the screen which you cannot see on my bit true account the SAR Factor met support and is bouncing off of that and going higher
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