Waves
Bullish bias, target 1673.After the end of wave 5 (previous downtrend), gold has started to correct, maybe in a big ABC setup, or even in a new big impulse 12345.
However, we should watch 12345 waves, inside big A wave or inside big 1, it doesn't matter.
First we see 1 and 2, inside 3 we have another i,ii,iii,iv,v setup. Gold has retraced to 50% fib retracement levels of wave iii, this can be the end of wave iv.
Inside iv wave, we can see small a,b,c setup.
Here we have two scenarios :
*First one in red, continuation from 1650's levels to 1673.
*Second scenario in gray, we are ending small b inside iv, going down to create small c to start after it wave v. If this scenario is valid, Gold will probably retrace until 38.2% fib to end small c.
Two buying setups are available, from 1655, or from 1635, knowing that iv shouldn't retrace more than wave ii, let it be the stoploss of the second scenario.
Hope you enjoyed this analysis,
Joe.
XAUUSD TRADING ACTIVE hello traders
In a previous analysis of gold, the block of sell orders was determined, the price reached it recently, and there is also an expanding correction pattern
confirms the fall
The trade has been executed and the price is moving in the expected direction
Previous analysis::
[09/29] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis
After a sharp drop from the night of the 27th, there are more ups and downs than expected.
In the case of a normal adjustment wave, it is often returned to 0.382 / 0.5 / 0.618 of the trend wave and then proceeded to the trend again.
The black square section is considered to be a downward impulse wave. After the fall impulse wave ended, it returned nearly 0.618 of the fall.
*The reason for viewing the black section as a falling impulse was because a very strong transaction volume occurred in the part predicted to be 3 waves, and the falling angle was also very steep.
There are two probability scenarios that are shown on the current basis.
1. 19.8k was the high point, and when it was slightly lowered after being hit by resistance near Fibonacci 0.618, the upward reversal ended. Now it will go down to a downward impulse. (Blue Path)
19.8k is not yet a high point, but there is one more high point renewal left. It will slightly renew its 19.8k high and start a downward impulse.
(Purple Path)
Not both of these, but we also have to be prepared for a rise
The position where the black interval drop-pulse view is discarded is 20.4k.
If you break through 20.4k, there is a high possibility of an additional increase. The downward impulse perspective is also discarded.
Until 20.4k, I would like to recommend short positions, and if you pierce it, you should report the situation and respond flexibly!
The market is very difficult these days, so let's make good results with flexible responses :)
These days, I feel that the intestines have more fakes and the difficulty has increased a lot.
As waves emerge differently than before, many people are having difficulty predicting.
The more this type of market is, the more we need to focus on responding.
Be sure to think that your predictions may be wrong when trading, and think about how you will respond if the predictions and charts flow differently. :)
ZIM bounceNYSE:ZIM
I see ZIM stock fallowing Baltic Dry Index with a lag. As we observe a bounce in BDI we can expect the same in ZIM stock price.
From a technical point of view the same thing.
We are now in wave 5 of an impulse wave down. which could also be done.
So from wave analysis point of view we can expect a correction up, most likely to the minor wave 4 extreme. in the region of $34.
And financially the company is rock solid.
Disclaimer: This is my analysis and does not constitute financial advice.
[09/27] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis
Finally, the boring convergence seems to be over.
Eventually, it deviated upward from the convergence pattern, rose slightly, and then rose in the morning with trading volume attached, and now it seems that the wave frame is being taken little by little.
Up to 18.1k, it came down to five waves, and it seems that the waves have ended, and the current section after that is important
18.1k - 19.5k = A
19.5k to 18.8k = B (Triangle convergence)
It seems that the C wave has been rising since 18.8k.
If this ABC wave is a "B wave" in this big picture and the selling pressure is a little severe, and the C wave does not come out short, it is likely to go up to 20.3 to 20.4k.
After that, it is expected to fall quite strongly with five waves, and it is likely to break 17.6k in this downward wave and renew its previous low.
We recommend that you do not hold a long position or respond briefly, and if there is a rebound up to 20.3k, it is better to enter a short position by looking at the trend change signal on the line!