Wave A is an impulsive wave that 5 subdivisions. Wave B is an abcde triangle and each wave has 3 subdivisios. a-b of the triangle is connected by wxy (also has 3 subdivisions each). Look at smaller time frame to see (and confirm structure). Currently looking out for wave d of the triangle (wave 1 of 3) to complete then followed wave e 3 waves in the opposite direction, before there can be any break-out. This is only an idea not financial advice
The only roadblock we have is this IFVG, but we already filled it yesterday and I honestly believe we will run straight through it this time.
I just played with the Fibonacci retracement tool and traced the 5 waves with the minimum expected values. --> If the probabilty with the retracements remains like this, then we could expect at least these results with the retraced minimum values . --> Else if it collpases under the starting point of the wave 1 then these retracements should be ignored.
- Amazon reversed from support zone - Likely to rise to resistance level 192.00 Amazon recently reversed up sharply from the powerful support zone between strong support level 167.00 (which has been reversing the price from the start of 2024), lower weekly Bollinger Band and the 50% Fibonacci correction of the uptrend from 2022. The price is currently forming the second consecutive weekly Japanese candlesticks reversal pattern Bullish Engulfing. Given the clear weekly uptrend and the oversold weekly Stochastic, Amazon can be expected to rise toward the next resistance level 192.00.
Hello dear friends ? BTC/USDT Trade Signal Technical Analysis Setup ? Bitcoin is showing signs of weakness—let’s take a sell trade! • Trade Setup ? ? • Entry: 93,500 ? • Take Profit 1 (TP1): 92,300 ? • Take Profit 2 (TP2): 91,000 ? • Take Profit 3 (TP3): 89,000 ⭕ • Stop Loss (SL): 95,800 Analysis: • Price is reacting to a strong resistance zone. • Bearish pattern forming after a recent failed breakout. • Momentum shifting downwards, signaling possible further decline. ⚠ Follow risk management! Let the setup play out—patience is key. Trade at your own Risk
During the last trading session, the GBP/USD pair posted a gain of more than 0.5% in favor of the pound, as U.S. dollar weakness continues, even after some positive remarks regarding the U.S.–China trade war. For now, it seems that investors are viewing European currencies as a potential safe haven amid the current wave of economic uncertainty across markets. This shift in sentiment has helped to sustain consistent bullish pressure on the pound in the short term. Broad Ascending Channel Since mid-January, the pair has been forming a strong ascending channel, with price now trading above the 200-period simple moving average, reinforcing long-term bullish momentum. So far, no bearish correction has been strong enough to break the channel, which remains the most relevant technical formation to monitor for upcoming GBP/USD moves. RSI Despite strong bullish momentum, a notable divergence has begun to form on the RSI, as the pair continues to post higher highs in price, while the RSI shows flat peaks in the short term. In addition, the RSI line is hovering near the 70 level, which marks the overbought zone. Both signals suggest a potential imbalance in market forces, possibly opening the door to short-term bearish corrections. Key Levels: 1.33763 – Key Resistance: This level represents the most recent highs reached by GBP/USD. A sustained move above this area could confirm strong bullish momentum and lead to an acceleration within the current channel. 1.30448 – Near Support: This area corresponds to a consolidation zone seen over the past few months. It may serve as a tentative barrier where short-term pullbacks could occur. 1.28248 – Major Support: This is a critical level, aligned with the 200-period simple moving average. A decisive move below this support could invalidate the current bullish formation and potentially trigger a long-term bearish shift. Written by Julian Pineda, CFA – Market Analyst
- DAX broke resistance area - Likely to rise to resistance level 22500.00 DAX index is under the bullish pressure after it broke the resistance area between resistance level 21500.00 (top of the previous correction A) and the 61.8% Fibonacci correction of the downward ABC wave (2) from March. The breakout of this resistance area accelerated the active impulse wave (3) from the start of April. Given the clear daily uptrend, DAX index can be expected to rise toward the next resistance level 22500.00 (which stopped wave B of the earlier ABC wave (2)).
- Gold reversed from support area - Likely to rise to resistance level 3500.00 Gold recently reversed up from the support area between the upper trendline of the daily up channel from January and the 38.2% Fibonacci correction of the upward impulse 3 from last month. The upward reversal from this support area stopped the previous minor downward correction 4 which started earlier from the key resistance level 3500.00. Given the strong daily uptrend, Gold can be expected to rise in the active impulse wave 5 toward the next resistance level 3500.00.
- EURUSD reversed from support area - Likely to rise to resistance level 1.1510 EURUSD currency pair recently reversed up from the support area between the key support level 1.1300 (which also reversed the price at the start of April) and the 38.2% Fibonacci correction of the upward impulse from March. The upward reversal from this support area stopped the earlier short-term ABC correction iv from the middle of April. Given the clear multi-month uptrend, EURUSD currency pair can be expected to rise toward the next resistance level 1.1510, which stopped the earlier impulse wave iii.
Good Evening and I hope you are well. comment: Bulls in full control, next target is the Globex to 22535 or 22586 on the daily chart. Volume is atrocious and we are in a global trade war but hey, let’s go for another ath I guess. This will crash down to 19000 and lower again, zero doubt in my mind. current market cycle: trading range key levels: 21000 - 23000 bull case: Bulls want 22535 or 22586 next. Above that there is no reason not to go for 24000. Nothing more to say about this tbh. Measured move from the lows to spike high is 24375 and yes, I think it’s beyond insane and yes I also think we could get there over next days. Invalidation is below 21700. bear case: Bears need prices below 21780. Simple as that. They are not doing anything right now but any decently bad news could get us there. If they print 21780, it only means something if they then close the Global gap to 21674. So far away and unlikely that we get a strong bear trend tomorrow. Market will probably need to range first before we could maybe sell again. Invalidation is above 22600. short term: Neutral. Having a hard time believing we can do another bull trend up tomorrow. I expect sideways into the weekend. Anything below 21800 is a bear surprise to me medium-long term from 2024-03-16: Bear trend is ongoing but for now I still think 19500 and below is an amazing buy if you can hold for years. Things will have to turn really bad for this market to find acceptance below the bull trend line from the covid lows and right now this trade war is just front running. Markets were not priced for risk 3 weeks ago but this drop was too much too fast. My bearish targets for this year are met and with the current environment I will not call for lower prices than 19000. If the trade war turns real bad, yeah sure but for now it’s not. current swing trade: None trade of the day: Buying the bear trap 21900, betting on a higher low and that the big globex gap stays open. I traded it horribly and went long way too late but it was still enough to went green on the day.