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Elliott Wave

GOLD → Local bearish trend. Retest of support.FX:XAUUSD is technically looking a little weak. Support is being retested amid de-escalation of geopolitical conflicts in the Middle East. Interest in the metal is waning. On Friday, gold remains under pressure ahead of data on the core PCE index, a key inflation indicator for the Fed. If inflation turns out to be higher than expected, this could strengthen expectations of a rate cut as early as July, supporting gold. The probability of a July cut is currently estimated at 21%, and 75% for September. Amid dollar volatility caused by rumors of a possible Fed chair replacement and trade negotiations with the EU and China, traders remain cautious, awaiting clarity on inflation and monetary policy Technically, before falling, gold may form a correction to 3320 (liquidity capture). Resistance levels: 3320, 3336, 3347 Support levels: 3293, 3271 If the fundamental background remains unchanged and gold continues to decline towards support at 3293 and break through this level, the breakout could lead to a fall to 3271. However, I do not rule out the possibility that after a sharp decline, a correction to 3320 could form before the fall. Best regards, R. Linda!
FX:XAUUSDShort
by RLinda
15
USDCHF → Hunting for liquidity before the fallFX:USDCHF , against the backdrop of the falling dollar and the exit from consolidation, is forming another ‘bos’, which only confirms the market sentiment. The fall of the dollar only increases pressure on the currency pair. The price has broken out of consolidation and is trading below the key level. USDCHF has broken through a fairly strong support level, which only confirms the bearish market structure. A correction is forming ahead of a possible decline (liquidity capture). Resistance levels: 0.803, 0.8042 Support levels: 0.798, 0.79 Fundamentally and technically, the currency pair looks weak. The decline may continue after the liquidity capture phase and a retest of resistance. A false breakout of resistance will be a strong signal. Best regards, R. Linda!
Short
by RLinda
10
Gold's Decline Not Over (Yet)#Gold is in a declining pattern that appears incomplete. Here are 2 models we are following closely. 1. A decline in wave (iii) of ((c)) - targeting $3,120 2. A decline in wave iii of (ii) - targeting $3,220-3,240 Both models imply the current decline is not over. FLAT PATTERN The flat pattern subdivides as a 3-3-5 ((a))-((b))-((c)) pattern. The decline appears to be in the latter stages of this pattern, wave ((c)). This wave needs to unfold as a motive 5-wave pattern...it appears we are in the 3rd wave decline so a couple of more trends lower. The flat targets $3,120. LEADING DIAGONAL The leading diagonal is a motive pattern labeled i-ii-iii-iv-v. The leading diagonal pattern is already complete and now a partial retracement lower of the diagonal is underway. This partial retracement likely carries to $3,220-$3,240. Under both scenarios, once they are complete, a strong rally is likely to follow. However, the downtrends need more price and time to develop so the rallies are on hold for the moment.
OANDA:XAUUSDShort
by JWagnerFXTrader
5
Gold Breakdown Confirmed — Bearish Pennant Targets UnfoldingGold ( OANDA:XAUUSD ) started to decline as I expected in my previous idea after the lower lines of the Ending Diagonal broke . Gold is moving near the Resistance zone ($3,349-$3,325) . And Gold seems to be crossing the 50_SMA(Daily) . From a Classical Technical Analysis perspective , the Bearish Pennant Pattern seems to indicate a continuation of the downtrend in Gold . From an Elliott wave theory perspective , it seems that Gold has completed the Zigzag Correction(ABC) , and we can expect the next 5 downwaves . I expect Gold to continue to decline at least to the Support zone($3,281-$3,243) and Monthly Pivot Point . Note: Stop Loss (SL) = $3,360 Gold Analyze (XAUUSD), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅ ' like ' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
OANDA:XAUUSDShort
by pejman_zwin
1
#Nifty directions and levels for June 27Good morning, Friends! 🌞 Here are the market directions and levels for June 27: Market Overview Both the global markets and our local markets are showing bullish sentiment. Gift Nifty is also indicating a positive start of around 30 points today. So, what can we expect today? In the previous session, Nifty performed well and Bank Nifty also supported the move. Structurally, the trend still appears bullish. So, if the market opens with a strong candle formation, we can expect a further continuation of the rally. However, my personal opinion is based on sub-wave calculations, the upcoming wave could be the 4th wave—which is typically a consolidation phase. So, after the gap-up, the market may consolidate around the immediate resistance zone. On the other hand, if the gap-up does not sustain or if the market faces rejection near the immediate resistance, it could lead to a correction of around 38% to 50% in the minor swing. The key point here is: until the market breaks below the 50% level, the overall bias may remain bullish. But if the 50% mark is broken, it could lead to a reversal, with deeper correction possible.
N
by Manickamtraders
2
#Banknifty directions and levels for June 27Structurally, the trend still appears bullish. So, if the market opens with a strong candle formation, we can expect a further continuation of the rally. However, my personal opinion is based on sub-wave calculations, the upcoming wave could be the 4th wave—which is typically a consolidation phase. So, after the gap-up, the market may consolidate around the immediate resistance zone. On the other hand, if the gap-up does not sustain or if the market faces rejection near the immediate resistance, it could lead to a correction of around 38% to 50% in the minor swing. The key point here is: until the market breaks below the 50% level, the overall bias may remain bullish. But if the 50% mark is broken, it could lead to a reversal, with deeper correction possible
N
by Manickamtraders
2
Bitcoin Top is In! Bear considerationsPrice has been carving out an unclear correction off the high. The recent structure has many squinting. Is it done or the calm before another wave of selling? I am weighing two bearish scenarios here. One is more aggressive than the other. But both start with the same idea. No new high before another low. Let’s start at the top. The initial move down off the recent high could count as an impulse. Whether that is a wave 1 or a wave A is still up for judgment. Either way, that first leg sets a bearish tone at the larger degree. Here’s where it gets interesting. The correction since then shows traits of a flat. A running one at the moment. This opens the door to two active bearish projections: A wave C collapse, implying a completed A B C correction and a downside resolution. A wave 3 drop, for a possible top if this is an impulsive sequence. That is the fork in the road. And it all hinges on the next move. Right now, the smallest degree impulse off the low is doing some heavy lifting. If that pivot holds and we only get an internal retracement like a micro wave 2, the door is still open for upside continuation. But if that impulse gets invalidated, I would expect bears to press. First for a break below 100k, then toward the 95k area. Here is how to think about it: Hold the small impulse → Potential upside Break the impulse base → Wave C or 3 likely underway Context still leans bearish. Lower highs are still in play. But we are hunting a specific structure to confirm it.
CShort
by CryptoKnee
1
Bitcoin Reaches PRZ with Bearish Signals — Is a Drop Imminent?Bitcoin ( BINANCE:BTCUSDT ) has reached the Potential Reversal Zone(PRZ) as I expected in yesterday's post . Bitcoin is trading in the Heavy Resistance zone($110,720-$105,820) , Potential Reversal Zone(PRZ) , and near the Resistance lines . In terms of Elliott Wave theory , it seems that Bitcoin has managed to complete the main wave 5 with the help of the Ending Diagonal . The structure of wave 5 can be different. Also, we can see the Regular Divergence(RD-) between Consecutive Peaks. I expect Bitcoin to drop to at least $105,400 . Cumulative Short Liquidation Leverage: $107,334-$108,250 Cumulative Long Liquidation Leverage: $105,037-$103,392 Note: We could be in for a bit of excitement in the financial markets during Federal Reserve Chairman Powell's speech. Note: Stop Loss(SL)= $109,020 = We can expect more pumps. Please respect each other's ideas and express them politely if you agree or disagree. Bitcoin Analyze (BTCUSDT), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
23