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Elliott Wave

GOLD--> Trend favors sellersGold prices maintained their recovery momentum on Wednesday, gaining over 70 pips early in the trading session and currently trading steadily around the 2639 USD level. While the metal is showing signs of upward movement, this momentum appears to be short-lived as the overall trend remains favorable for sellers. The primary driver is the weakening of the US dollar, as investors take profits following last week's strong rally. Since gold is priced in USD, a weaker dollar makes the metal more accessible to buyers using other currencies. Additionally, ongoing geopolitical tensions continue to provide strong support for gold prices, with the current target aimed at the resistance level of 2665 USD. If the price successfully breaks this level, further recovery could be expected. Conversely, if it fails, the recommended strategy remains selling in line with the primary trend.
OANDA:XAUUSDShort
by TomtradeFX
1
Tesla UpdateToday was yet another day of chopping within this area. I will re-iterate, we're waiting on wave c of A to commence, or for price to make OMH. My primary analysis remains we have topped; however, we have no confirmation of that. As you can see by the labels on the chart, I am counting this move off of the 23 October bottom as an abc pattern. There is the possibility it is a 5-wave c wave according to the turquoise labels. Should the ALT be the case, we would be looking for OMH into the area of $376-$397. This area has our larger 1.618 @ $395.90 (orange fibs) and turquoise 2.0 @ $397.25. The depth in which MACD dropped makes me feel this is not a wave 4, but y'all know MACD doesn't dictate the count. It is just a tool we use to help us in labeling the structure. In short, price raises to make OMH or begins dropping from here towards the lower target box. Please let me know if you have any questions.
NASDAQ:TSLA
by TSuth
Bitcoin - 1D Elliott Wave AnalysisGreetings, this is my current Elliott Wave count for Bitcoin on the daily timeframe. In August we bottomed in the green Wave 4 and are working on green Wave 5 since then. Of this green Wave 5 we have finished blue Wave 1 and 2 and are close to finishing blue Wave 3 after which we expect a pullback in blue Wave 4 before another rally. Next targets for blue Wave 3 are the 1.618 FIB at 95'359 USD and the 1 to 1 FIB at 98'322 USD. In case of an extension we'd be looking at the 1.38 FIB of a higher count at 112'194 USD which is right below the 1.236 FIB at 115'948 USD and then the 1.38 FIB at 128'222 USD. Support for blue Wave 4 is between the 0.236 FIB at 84'857 USD and the 0.618 FIB at 68684 USD. Noteworthy is that our previous ATH is around the 0.5 FIB at 73679 USD which could function as further support if we reach it. Be aware that the blue Wave 4 support can morph and change if blue Wave 3 extends to the upside. Thanks for reading. NO FINANCIAL ADVICE.
by KanashimiBro
AUDJPY Elliott Wave Analysishello friends In the AUDJPY currency pair, we see the formation of a 5-wave pattern in the dominant wave (B). Before these 5-waves, we see a strong downward movement. which we call wave (A). These 5 waves have modified the previous powerful movement, and the corrective movements are always more complicated and time-consuming than their previous wave. Therefore, it is more likely that the price will return to its original movement. Therefore, with the hypothesis of continued downward movement, we are waiting for the break of the trend line drawn at the 5-wave bottom (wave B) and with the break and pullback, we can enter into a sale transaction. To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
Short
by M_Gheysvandi
1
GOLD → Market confirms downtrendFX:XAUUSD is testing resistance of a key descending channel. Bears continue to resist based on important fundamental aspects of the global economy Fears of further geopolitical escalation between Russia and Ukraine are likely to subside a bit. In addition, the Fed speech will help determine the U.S. central bank's future path on interest rates. Attention is focused on the December rate meeting.... Technically, the gold confirms the downtrend channel, so we have a key trend to follow in our trading decisions. A false breakdown of the local resistance at 2627 is forming. Consolidation of the price below this zone may provoke further decline Resistance levels: 2627, 2643 Support levels: 2694, 2560 Another resistance retest is possible. It will be possible to talk about buying after the price will be able to break 2643 and consolidate above this zone (additional scenario). But in priority I consider further decline from 2627 or from the channel resistance Rate, share your opinion and questions, let's discuss what's going on with ★ FX:XAUUSD ;) Regards R. Linda!
FX:XAUUSDShort
by RLinda
8
DASH: Strong Gains Ahead IF Wedge Is BrokenDSHUSD is coming higher, out of a last week consolidation that we have been tracking around $25, but it looks like break higher was wave five because of current reversal down. However, it can be just another correction with a bullish cycle, that will be expected to resume after a-b-c retracement back to 25-26 support area. If we are correct, then strong recovery is yet to come, out of an ending diagonal that appears completed on a daily and weekly chart. Keep in mind that ending diagonals causes a sharp reversal and strogn recovery in price, which is far from over. Drop below 21 will suggests that bears are still here, for 18/17 wedge support.
COINBASE:DASHUSDLong
by ew-forecast
Solana - 15 min Elliott Wave AnalysisGreetings, this is an update to my 15 min count. I changed the count slightly from an ABC to an WXY as the Wave 2 in the previous C retraced to the 0.886 FIB which makes it less likely. In the WXY we already finished the W and the X and started working on the Y wave. The Y wave is an ABC of which Wave A and B are done with B hitting the 0.886 FIB. Wave C in yellow is ongoing and we might have finished Wave 2 of yellow C. We added the Wave 2 resistance for the yellow C wave and it sits between the 0.5 FIB at 242.93 USD and the 0.786 FIB at 245.54 USD. We do not want it to hit the 0.886 FIB at 246.46 USD. We also added a trendline which a break of could indicated that yellow Wave C is following through. On the chart you can see the targets for yellow Wave C sitting at the 1 to 1 FIB at 233.32 USD, the 1.236 FIB at 229.97 USD, the 1.38 FIB at 227.93 USD and the 1.618 FIB at 224.56 USD. We preferable hit the 1.618 FIB at 224.56 USD but we wanted to show you the other potential targets too. :) Noteworthy ist that the 1.618 extension for the Wave Y in the WXY is in confluence with the 1.38 FIB target of yellow Wave C at 227.93 USD. Wave 2 support of the green Wave 2 stays unchanged and still sits between the 0.382 FIB at 230.78 USD and the 0.786 FIB at 218.57 USD. Thanks for reading. NO FINANCIAL ADVICE.
Short
by KanashimiBro
Tesla UpdatePrice is still chopping around in my b wave target box, and thus far, the 0.786 is holding up. If the structure is to continue along the expected pathway, we should start to drop, ideally tomorrow, towards the c of A target box. That is not saying we get there tomorrow, just that I would like to see us begin our journey down. As the label suggests that should be the c wave of A. It will present as either a 3 or 5 wave pattern. Usually, this part of the pattern would have a stronger move then the rest. That is what usually causes MACD to print the lowest reading of the structure. The ALT count suggests that we get another high above the last @ $362.80. As stated prior, should price breach the top of the target box, odds of another high raise dramatically. It wouldn't be a guarantee, but would raise the probability significantly.
NASDAQ:TSLA
by TSuth
3