LIVE TRADING FOR AUDUSD ON 2ND OF MAY 2023Here the market is selling but will still make some change according to the Elliott wave predicting that level of 5 will still complete by going up,So going for long trade is needed
Correction
No trades on EURUSDTomorrow the FED is expected to rise interest rates to 5,25%.
We prefer to wait for the news to pass before looking for new trades.
Yesterday we saw a new attempt to rise, followed by sharp decline and test of the lows around 1,0960.
Upon a new test it’s possible to see breakout and heading towards 1,0900.
For new entries, we’ll wait for the news to pass and movement to be confirmed.
Elliott Wave View Suggests Silver (XAGUSD) Correction continueSilver (XAGUSD) ended cycle from 3.10.2023 with wave 1 at 26.08 as the 45 minutes chart below shows. The metal is now correcting cycle from 3.10.2023 low in wave 2. Internal subdivision of wave 2 is unfolding as a double three Elliott Wave structure. Down from wave 1, wave a ended at 24.78 and wave b rally ended at 25.31. Wave c lower ended at 24.62 which completed wave (w). Corrective rally in wave (x) ended at 25.48. The metal resumes lower in wave (y) with internal subdivision as a zigzag. Down from wave (x), wave a ended at 24.76 and wave b ended at 25.35. Wave c lower ended at 24.47 which completed wave (y) and ((w)) in higher degree.
From there, the metal formed wave ((x)) connector with internal subdivision as a double three in lesser degree. Up from wave ((w)), wave (w) ended at 25.22 and pullback in wave (x) ended at 24.49. Wave (y) higher ended at 25.9 which completed wave ((x)) in higher degree. The metal then turns lower in wave ((y)) with internal subdivision as a zigzag. Down from wave ((x)), wave (a) ended at 24.86. Expect rally in wave (b) to fail in 3, 7, or 11 swing for further downside. Potential target lower is 100% – 161.8% Fibonacci extension of wave ((w)) which comes at 23.31 – 24.29 area. Near term, as far as pivot at 26.08 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
BTC long run outlook everything has been confirmed using MA200 plus adding a reversal trend following mid-May 2023 to 2024 onward. correction point would be expected to be around 24800 price point with confirming accumulation breaking trend upward of 31300 point, but a rejection point seems to be expected here minor shorts may be happened due to heavy buying and selling. overall if breaks reversal shorts to longs could confirm the long run from 31300 points to its ATHs zone.
Important levels on EURUSD During the yesterday’s news we saw fluctuations in range 1,1000-1,1060.
Currently, it’s important to see breakout outside of that candle.
Key support level is 1,1000.
Upon pullback from this level we can expect another rise towards 1,1060 and test of the previous tops.
On breakout , we’re headed for a test of 1,0960 and the previous lows.
Should break and make double top Gold is in a good position to buy before big drop occurs.
I bet 1986 area can hold and the support is pretty strong ; tug-a-war with sell pressure but I know the bulls can take this and handle it there.. break the pressure and bring the buyers pressure to overcome it and should get exhausted until hit about 2060 or 2080 area for a sell off.
The Feds had confirmed that USA will have a mild recession at the end of 2023 and should expect the big drop before end of 2023 4Th Quarter or before end of 3rd Quarter of 2023.
Trade safe and watch any reversals
$BTCUSD holds steady around shortterm POC $27k but how for long?The macro trend for BITSTAMP:BTCUSD is..
And this publish looks at the Intermediary Wave 4 in further detail by studying the characteristics of Minor Wave 5.
Here are the 2 possible scenarios to play out in the days and weeks to come:
Scenario 1
Intermediary Wave 4 is not yet completed, despite touching 0.328 retracements, and will play out in a triangle, as Waves 4 usually do.
This means Minor Wave 5 will break down further, possibly towards 0.328 fib targets of $26.4k.
This is the stronger scenario that I will lean on.
Scenario 2
Intermediary Wave 4 is completed, aka Minor Wave 5 is also completed.
This means Intermediary Wave 5 is underway, aka Minor Wave 1 is also on its way.
Aka we've seen the bottom for the year, although I do not lean towards this scenario, here's one for cautious optimism.
Sidenote 0: Divergence on the shorter timeframes. Volatility.
Sidenote 1: Waves 1 are typically motive/impulse waves accompanied by cautious exuberance, but the news is rather stale at the moment. Dullness.
Sidenote 2: As of pixel time, Coinbase NASDAQ:COIN is sueing SEC for lack of regularity clarity. It's scary time indeed. Uncertainty.
Sidenote 3: FOMC meeting in 8 days and 84% (today) expectations that we'll see 500bp for the first time since 2017. Sell pressure.
Sidenote 4: Last month saw the Mt Gox CRYPTOCAP:BTC redemptions which will go on until near end of year. Sell pressure.
Sidenote 5: China is smiling at crypto again, while Binance lifts its Russian restrictions. Bullish.
EUR-GBP Will Go Down! Sell!
Hello,Traders!
EUR-GBP has retested a
Horizontal resistance of 0.886
And failed to break the level
So now we are seeing
A nice bearish reaction
And I think that the pair
Will go further down
Sell!
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Check out other forecasts below too!
Important USD news Today GDP data is going to be released.
We expect the news to have an impact and cause fluctuations.
We will look for new trades after the news when the direction is confirmed.
If the uptrend continues the next resistance levels are 1.1154 and 1.1276!
XRP/USDT 4HInterval check the current situationI invite you to review the XRP chart in pair to USDT, also on a one-day interval. First, we will use the purple lines to mark the downtrend channel in which the price is currently moving.
Moving on, we can move on to marking support areas when we start a larger correction. And here, the first support is at $0.45, the second support is at $0.43, the third support is at $0.41, and then the fourth support is at $0.39.
Looking the other way, we see that the price has reached the first resistance at $ 0.48, which so far has no strength to break. However, if it manages to break out above, the second resistance is at $0.51, the third at $0.53, and then the fourth at $0.55.
At this point, it is worth looking at the EMA Cross 10 and 30, which indicate that we are on the verge of returning to an uptrend.
The CHOP index indicates that most of the energy has been used, the MACD indicates that we are moving in a local uptrend, while the RSI has a return to the upper part of the range, which may give a moment of recovery before further growth.
EURNZD long term outlook is bullish... BUTFor EURNZD there is much more upside potential in the long run. However, after the recent rally, a pullback would be quite healthy. The price should be aiming for the 61.8% Fibonacci retracement area, before/if the uptrend continues.
BIG SELL ON NAS100after the BOS, that's your indication & after the indication, you will see a correction & then a continuation. we can expect to catch this big sell all the way down!!! use proper risk management. only risk 1-2% of your acc. more opportunities will arrive. never get greedy!! Follow me for more ideas
USDCAD I Key resistance broken. Expect pullback and more growth!Welcome back! Let me know your thoughts in the comments!
** USDCAD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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The rise on EURUSD continues Yesterday EURUSD managed to breakout 1,1000 and tested the previous top.
We expect the uptrend to continue, additional confirmation will be breakout of 1,1074.
The next resistance levels are 1,1154 and 1,1274.
Upon decline below 1,0900 the scenario breaks down.
GBPUSD AnalysisWe have bullish correction on the support of the current structure to confirm the bullish momentum we have first impulse that is followed by a correction, I will only execute after breaking the current correction resistence.
NB: Im not advising this is my opinion
What if....
what if we have a yield curve that hasn't been inverted this much in 40 years
what if we've enjoyed 15 straight years of bull markets
what if this is just the start of the correction
what if I told you that I've tested 50 indicators and identified that this correction (on a weekly scale) thus far has matched identically to the START of the dot com bubble (on a daily scale)- March 2000 to June 2000
what if I told you that if you scale the duration of start of the dot com crash to this correction, this correction would be 5.9 X the duration of the dot com bubble and this correction will end it 4.5 years.
I'd encourage you to examine the start of the dot com bubble from March 2000 to June 2000 (daily scale) and compare to the current weekly Nasdaq technicals and see for yourself.
I hope this isn't the case, but what if...
Good Luck
📈ETHUSDT Price correction scenario📉BINANCE:ETHUSDT
COINBASE:ETHUSD
Hey everyone, first take a look at my previous analysis and positions.
According to the recent growth of Ethereum and other altcoins, as well as the fall of Dominance below the level specified in the last idea, there is a possibility of price correction at the same time as the fall of Bitcoin.
Price divergences are marked on the chart
Don't forget to risk-free your position.
Consider the impact of the jobless claims on Thursday.
Please share ideas and leave a comment,
let me know what's your idea.
CrazyS✌
EUR-CAD Local Bearish Bias! Sell!
Hello,Traders!
EUR-CAD is trading in an
Uptrend but is about to
Hit a horizontal resistance
Level of 1.491 from where
A bearish correction
And a move down are
To be expected
Sell!
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Check out other forecasts below too!
NVDA: A Dangerous Pattern Appears.• NVDA is doing a pullback to its 21 ema, which is a normal movement. The problem is that this correction is occurring after it found a strong resistance at 280;
• This could be the beginning of a Double Top chart pattern. In order to trigger this pattern, NVDA would have to lose the 263 support line, which is the previous bottom area;
• In this scenario, NVDA would seek the 244, the next support line;
• In order to avoid this bearish thesis, it is important to see NVDA doing a bullish reaction, preferably above the 21 ema, and breaking the 280 as soon as possible;
• So far, it seems NDA is just doing some range trading between its two key support/resistance lines.
I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
Awaiting EURUSD EURUSD continues its sideways movement and holds below 1.1000.
To enter a trade we need a breakout.
A breakout will confirm the uptrend and allow buys to be sought.
On a dip below 1.0900 the bullish scenario breaks down!
Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has fallen below the local uptrend line.
Let's start with the support line and as you can see we have the first strong support at $ 27798, however if the price falls below the support we can see a correction around the next strong support at $ 25824.
Now let's move to the resistance line, as you can see the first resistance is $ 29155, if it breaks down the next resistance will be $ 29709, the third resistance will be $ 30165, the fourth resistance will be $ 30602 and then the fifth resistance at $ 31236.
Looking at the CHOP indicator, we see that any collected energy is quickly used up, the MACD confirms the downtrend, while the RSI has crossed the lower limit of the range, which can give you a moment of breath.
📈BTCUSDT Price correction scenario📉BINANCE:BTCUSDT
COINBASE:BTCUSD
Hey everyone, first take a look at my previous analysis and positions.
According to the recent growth of Bitcoin at the same time as Dominance fell below the level specified in the latest analysis, there is a possibility of price correction at the same time as this cryptocurrency falls.
Price divergences are marked on the chart
Don't forget to risk-free your position.
Consider the impact of the jobless claims on Thursday.
Please share ideas and leave a comment,
let me know what's your idea.
CrazyS✌
