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Ripple Continues Its Expected DescentVery important. Ripple completed 5 total waves down on its journey from $1.89 to $0.85. Within all Elliott Wave corrections, a single 5 wave move cannot be the complete form of the correction. It is only 50% of the correction at maximum. With 5 waves considered as A wave, we can expect 3 corrective bull waves upward for B. My target range for the up move is $1.65 - $1.85. Without accomplishing a new high above the recent price, we can very well expect Ripple to continue south to the range of $0.19 - $0.65. Considering that this range does not take us to the expected retracement level of a diagonal correction, there is a slight but good chance that a double zig zag forms to trap overeager bulls and present patient bears with an exciting buying opportunity. In my opinion, there are no good long term buy positions currently available, especially considering the steep discount soon to come.
POLONIEX:XRPUSDShort
by DigitalSurfTrading
11
US Market Technicals Ahead (26 Apr – 30 Apr 2021)The earnings season enter into its busiest phase in the coming week, with most of the focus will be on the quarterly earnings result of five big-name mega-cap tech companies – Facebook ($FB), Amazon ($AMZN), Apple ($AAPL), Microsoft ($MSFT), and Google-parent Alphabet ($GOOGL), Market participants will also be bracing for heightened volatility on the economic data front the release of the first estimate of Q1 GDP (Advance GDP QoQ), alongside durable goods orders, and personal income and outlays. This should lend further support to the notion that the economy is continuing to recover from its virus-related slowdown. New spending and tax proposals from the White House, along with Federal Reserve Policy Decision will also be in focus. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) traded with a muted tone, losing -0.14% (-5.7 points) for the week. With $SPX trading flat, a pause in the existing rally is plausible with the previously highlighted Bearish Divergence of $SPX remains valid, as sessional volume remains below its 50 days average range for the past week without any committed buying pressure reflected in this rally. With price volatility expected to pick up this week due to almost one-third of Dow ($DJI) and S&P500 ($SPX) companies reporting earnings this week, the immediate support to watch for $SPX is now at 4,110 level, a minor week long support coinciding with break of 20D MA level. FAAMG + Tesla TSLA Earnings There are about 180 S&P 500 companies, including 10 Dow components, reporting corporate results in what will be the busiest week of the first quarter earnings season on Wall Street. Most of the focus will be on the five big-name mega-cap tech companies – Facebook ($FB), Amazon ($AMZN), Apple ($AAPL), Microsoft ($MSFT), and Google-parent Alphabet ($GOOGL) – collectively known as the ‘FAAMG’ group of stocks. All five are set to enjoy another quarter of blockbuster earnings and sales growth, given their growing dominance in the tech space. Software and cloud giant Microsoft and internet search titan Google are both expected to release their latest numbers on Tuesday after the markets close. Tech and consumer electronics conglomerate Apple and social media company Facebook then follow with their respective earnings after the bell on Wednesday. E-commerce and cloud behemoth Amazon is slated to release Q1 results after the market closes on Thursday. Meanwhile, Tesla ($TSLA) – the sixth most valuable company listed on the New York Stock Exchange – reports on Monday. Some of other high-profile tech names reporting this week are Advanced Micro Devices ($AMD), Twitter ($TWTR), Pinterest ($PINS), Shopify ($SHOP), eBay ($EBAY), Qualcomm ($QCOM), and Texas Instruments ($TXN). Boeing, Caterpillar , GE Highlight Blue Chip Earnings Staying on the earnings front, a diverse group of blue chips, such as Boeing ($:BA), Caterpillar ($CAT), General Electric ($GE), 3M Company ($MMM), Visa ($V), Mastercard ($MA), and United Parcel Service ($UPS) will also report their latest quarterly results this week. Q1 reports from restaurant operators McDonald’s ($MCD), Starbucks ($BUX), and Domino’s Pizza ($DPZ) are also on the agenda, as are corporate results from automakers Ford Motor Company ($F), and Nio ($NIO). Pharmaceutical companies, like AstraZeneca ($AZN), Merck ($MRK), Bristol-Myers Squibb ($BMY), and Gilead Sciences ($GILD) are all on the docket as well. Finally, Big Oil majors, ExxonMobil ($XOM) and Chevron ($CVX), are both set to round up the week when they release their latest earnings on Friday. The Q1 corporate earnings season has gotten off to a strong start, with 86% of companies reporting earnings beats so far, according to Refinitiv. Federal Reserve Rate Decision The Federal Reserve is not expected to take any action on interest rates at the conclusion of its two-day policy meeting at 2:00PM ET on Wednesday, keeping it in a range between 0.0%-0.25%. Fed Chair Jerome Powell will hold what will be a closely watched press conference 30 minutes after the release of the Fed’s statement. Powell is widely expected to defend the central bank’s policy of letting inflation rise above its 2% target, reiterating his message that the recent pick-up in prices is seen as temporary. U.S. Advanced Q1 GDP Investors will keep an eye on a preliminary reading of first quarter U.S. gross domestic product (GDP) for fresh clues on the strength of the economy. The data is expected to show the economy expanded at an annual rate of 6.5% in the January-March period, accelerating from growth of 4.3% in the previous quarter.
U
by jfsrevg
BITCOIN/crypto market updateI feel the bearish market is nearly over. but until the next USA movement about the tax or whatever it can be a fallback again. as we see it's on a descending channel and is following it down until a good break. right now has good support on 47. If Biden or whoever came with bad news or whatever I think bitcoin price not going more than 39 down. try to but in different steps, every last amateur are going out and pro s and holders are waiting for their gains. GOOD LUCK.
by Pdrm_z
USDJPY-Formation of Diagonal pattern at the end of wave IVIn the weekly chart the price movement is forming a Triangle pattern, we are currently in the C wave from point D. ( Weekly Chart ) The daily chart shows the structure of the waves, which indicates that the iv wave from point C has ended and the price is rising in the V wave, which can be extended up to the range of 112. ( Daily Chart ) In the one-hour chart, the Diagonal pattern can be detected clearly, which can be an indication for the termination of the downtrend in the iv wave.
by NirmataFX
1
BTC/USDT 6 HOUR Chart Fall TargetsIn this idea I finally am confident that we are seeing this retrace. We completed our third ascending scallop and now we are falling. At this point what I expect is 3 descending scallops. Fall occurred last night at just after 10:00 PM CST I expect this to run in 24 hour cycles so give your portfolio that long to recover then make any decisions you need to. Best of luck to you. After we complete this fall then we will double bottom and then go beyond the all time high and there will be your bull run. Get ready when BTC hits the bottom you will have your alt season while it consolidates. This is all very normal movement. If you agree throw me a like and follow for more unique ideas and concepts that keep you in the gains. Much love to my supporters ND
Short
by The_New_Disciple
16
Rising Interest Rates Are ComingTightening monetary policies are coming. Throughout history, bond yields have been a clear telltale sign of rising interest rates. Throughout the last couple of months you can see bond yields have risen quite sharply. There is no alarm to be raised just yet on the health of the market, just an early indicator that Feds will start tightening monetary policies. I will be watching bond yields closely as the next indicator for market uncertainty would be the yield curve.
FRED:FEDFUNDS
by WaisTrades
Rising panic for the formation of descending trend Rising panic for the formation of descending trend due to the Diagonal pattern In the case of bitcoin, the diagonal pattern is under the formation, which is in the 5th wave from point 3. The uptrend is likely to be extended up to the range of $ 66,000 to $ 67,000, and in continuation, it is expected the downtrend forms in wave 4. The probable drop might progress up to $ 30,000. Personal point of view: I am a person who believes in Bitcoin a lot but in my opinion, it is not perfect and many other networks are more complete than it. But the main thing is that I still could not get an answer for its momentum. We had a lot of growth in all digital currencies, which caused inflation in traditional markets, and with the liquidity of digital currencies everywhere, this inflation enters the traditional markets (Fiat currencies). If this happens, what will happen to the markets? What is the government's strategy for this amount of liquidity? we know that if inflation causes prosperity and employment might be good for the economy, but what about this kind of inflation which is based on production and job creation? Assuming we have reached the end of the Fiat currencies era (like in the era of commodity exchange and barter), where is my location in this story? Should I forget these cross-terms and be hopeful for a $ 500,000 target for this cryptocurrency? I entered an unknown world that I do not know which path should I take. This happened to me 10 days ago and in my personal life, and currently, I become more doubtful with thousands of paths to choose.
by NirmataFX
6
GBPUSD PRE-MARKET ANALYSIS 12 APRIL, 2021OVERALL TREND- BULLISH ON THE DAILY (OVER 200EMA) and at a corrective retracement of a key support structure level. Again looking for long setups based on key support levels, looking to break into higher highs with a potential bounce retest of a major key support level at 1.380 and 1.380 Otherwise we have a key support level between 1.367 and 1.368 that price may retest for a 3rd time. Depending on how the price moves, we can look for entry opportunities on the 1H TF. But overall, looking for long setup trades.
Long
by Trader_366_FX
Link-The beginning of the uptrend in wave 3As the daily chart shows the price is in the uptrend and in wave iii, which the targets of this uptrend is in the ranges of $ 85 to $ 100 (In the short term). In the sub-waves of wave 5 from point iii, wave 4 has ended in the range of $ 21, and then, by referring to the 240-minute chart, we can consider the first formed wave as a Leading Diagonal. And its corrective movement has been completed in the range of 23.75, in continuation, the upward trend has started in wave 3, which can be extended up to the target of $ 58.
COINBASE:LINKUSD
by NirmataFX
Triangle patternFirst of all, I apologize for not being able to update the analysis due to personal issues. In the daily chart, the first target of the uptrend can be around $ 526. In the 240-minute chart over review, a Triangle Pattern is under formation, of which it could have ended in this point or it could have extended up to the $ 177 range in the e-wave, and then the ascending movement begins. We can get the main confirmation for the uptrend, when the price crossing the range of $ 217
COINBASE:LTCUSD
by NirmataFX