Elliott Wave
Short Opportunity on GBPUSD – Technical & Fundamentals AlignToday I want to look at the Short position opportunity in GBPUSD ( FX:GBPUSD ). So let's take a look at the GBPUSD pair from a fundamental and technical perspective.
Fundamental Analysis:
The British Pound remains under pressure due to growing expectations of a 25–50 bps rate cut by the Bank of England in early August. Markets are increasingly leaning toward easing as UK inflation hit 3.6% in June, the highest in over a year, while economic growth weakened and consumer confidence dropped to its lowest since early 2024
Ongoing fiscal concerns, including potential tax hikes and budget instability, continue to weigh on the pound. In contrast, the US Dollar( TVC:DXY ) remains relatively robust—supported by strong economic data and a safe-haven preference amid global uncertainty
Summary:
BoE easing becomes more likely due to weak UK data and inflation.
Fiscal risks and low consumer sentiment add downward pressure on GBP.
USD strength from solid data and safe-haven demand supports further GBPUSD downside.
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In terms of technical analysis , in the 1-hour timeframe , GBPUSD is approaching the Resistance zone($1.356-$1.350) , the Potential Reversal Zone(PRZ) , and the 50_SMA(Daily) . Meanwhile, this return to Important Support lines could act as a pullback to these lines. Important support lines and 50_SMA(Daily) were broken last week.
In terms of Elliott Wave theory , GBPUSD appears to be completing a main wave 4 . Main wave 4 is likely to have a Zigzag Correction(ABC/5-3-5) .
I expect GBPUSD to start declining from the Potential Reversal Zone(PRZ) and reach the targets I have marked on the chart.
Note: Stop Loss(SL): 1.3575USD = Worst Stop Loss(SL)
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British Pound / U.S Dollar Analysis (GBPUSD), 1-hour time frame.
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GOLD → Consolidation before the next jump to 3450?FX:XAUUSD continues to rally, with the price updating its local high to 3438 and moving into consolidation, possibly for another jump...
After hitting a five-week high of $3,438, traders are taking a break. Optimism is fuelled by Trump's statements about the largest deal with Japan and negotiations with Canada, but uncertainty about the details of the agreements and political instability in Japan are keeping caution in check. The market is waiting for further signals on trade and political issues, which remain key factors for gold.
Technically, the dollar continues to fall, which generally supports gold. But! Gold is approaching strong resistance at 3445-3450, where growth may be temporarily halted.
Resistance levels: 3433, 3446
Support levels: 3416, 3401, 3375
As part of a local correction, gold may test consolidation support or 0.5-0.7f before continuing to rise. There are quite a few orders in the 3433-3446 zone, and it will be difficult to break through this area to reach the target. Consolidation before this level may help the rise to continue.
Best regards, R. Linda!
GOLD → Correction before continuing the rally to 3450FX:XAUUSD updates its local maximum to 3401.5 and enters a consolidation phase ahead of news. The dollar correction gives speculators a chance...
The price of gold is correcting from 3400. The reason is profit-taking ahead of Powell's speech at 12:30 GMT and waiting for clarity on US trade negotiations with the EU and Japan before August 1.
Gold remains sensitive to the progress of negotiations and the dynamics of the dollar, which is weakening amid political uncertainty, declining yields, and pressure on the Fed from Trump.
Technically, after exiting consolidation and retesting 3400, the price is entering a local consolidation phase.
Focus on key levels: 3401, 3382, 3375. A false breakdown of support could trigger a recovery phase.
Resistance levels: 3402, 3393
Support levels: 3382, 3375, 3362.75
The distribution phase has been halted by resistance, and the price has moved into a countertrend correction due to uncertainty. Markets are waiting for positive signals from the Fed. Local and global trends are bullish, which may support the price overall...
Best regards, R. Linda!
BITCOIN → Consolidation and compression to 116K. Correction?BINANCE:BTCUSDT.P continues to consolidate, with the price testing support at 116K, leaving behind the zone of interest at 120K-121K. Are there any chances for further growth?
(Alternative scenario (if growth to 120K does not occur))
Fundamentally, there is nothing particularly new, and the hype surrounding Bitcoin is stagnating. Technically, on D1, consolidation is underway with pressure from bears against the backdrop of an outflow of funds into altcoins. However, the dominance index is starting to rise, which could trigger some correction in the market. The price on the working timeframe, without updating local highs, is testing lows, and the latest retest of the liquidity zone is provoking a fairly aggressive reaction that could bring the price to retest the zone of interest at 120K-121K.
But! If the price is squeezed between 116K and 0.5 Fib with a gradual squeeze towards support, the chances of a breakdown and a premature fall will increase.
Support levels: 116370, 115860
Resistance levels: 119650, 120100
Technically, the market needs a breather or correction, which is generally a sign of health. The nuance with Bitcoin is that below 115860 there is no support until 112K, and if the market breaks the current consolidation boundary, the further correction could be quite deep. In the current situation, I do not yet see any drivers or reasons for another rally.
Best regards, R. Linda!
DIA Motive Wave➡️ After confirming blue wave C, price is making a motive wave with sub-waves 1 and 2 complete.
➡️ Price is initially being held by the gray supply zone, which dates from October 2024.
➡️ This high could have marked the end of wave 3. Pullbacks are buying opportunities, but I prefer to see at least a 38.2% pullback for wave 4 before looking for new long trades.
USDCHF 8H Chart Downtrend➡️ Price attempted a breakout from longer term gray descending trendline, but was held by strong green resistance, so it became a fakeout.
➡️ Price also broke down from minor blue resistance and ascending trendlines.
➡️ I had labeled the early July low as blue wave 5, but that is up for discussion, due to the lack of bullish follow-up and RSI divergence. We could still see another lower low (5?).
➡️ Current bias is definitely bearish, since there are no indications that the downtrend has finished.
USDJPY → Hunting for liquidity before the fallFX:USDJPY is changing its local trend and succumbing to global pressure. The market is seeing a change in price movement following the decline in the dollar index...
The trend has broken and the price movement has turned bearish. The fall in the dollar index is allowing the Japanese yen to strengthen, which is generally negative for the currency pair. The decline may continue after a slight correction.
Fundamentally, the dollar is correcting amid uncertainty due to the tariff war, as well as expectations of interest rate cuts.
Resistance levels: 147.20, 147.89
Support levels: 145.85, 145.23
As part of the correction, the price may test the liquidity zone of 147.7 or 0.7f. A false breakout and consolidation of the price in the selling zone may trigger a further decline in both the short and medium term.
Best regards, R. Linda!
XAUUSD_4H&1D_BuyGold Analysis 4-hour and Daily Medium-term Time Frame Elliott Wave Analysis Style Gold is in a long-term ascending channel Based on Elliott Waves, the market is expected to have entered a new upward trend and has broken waves 1 and 2 and is currently in a large wave 3. The targets for wave 3 are $3480, $3525, and $3600, respectively. Good luck and wish everyone abundance and wealth 💚💚💚
EUR/USD Elliott Wave Update –Classic Wave 5 Breakout OpportunityThis chart of the EUR/USD pair shows a well-structured Elliott Wave impulse pattern unfolding on the 4-hour timeframe. The price action is currently progressing in the final Wave (5) of the impulse cycle, which typically represents the last bullish leg before a larger correction begins.
Wave (1): The initial move up from the bottom (early May), showing a clean 5-wave internal structure.
Wave (2): A healthy retracement after Wave 1, forming a base for further upside.
Wave (3): The strongest and steepest rally, as expected in Elliott theory. It broke past previous highs and extended sharply.
Wave (4): A corrective phase that formed a falling wedge pattern — typically a bullish continuation pattern.
Wave (5): Currently in progress. The wedge has broken to the upside, confirming the potential start of Wave 5.
Target 1 (T1): 1.18306
Target 2 (T2): 1.19012
Stop Loss (SL): 1.16600
After a strong uptrend, the market went sideways in a wedge pattern (a typical wave 4 behavior). It has now broken out, signaling the start of the final wave 5 move. This is often a strong and sharp push. Since the breakout is clean and the Elliott wave count aligns well, this creates a favorable long opportunity
Elliott Wave View: Nasdaq Futures (NQ_F) Poised To Extend HigherThe Nasdaq Futures (NQ_F) favors higher in bullish impulse sequence from April-2025 low. It already broke above December-2024 high & expect short term pullback in 3, 7 or 11 swings to remain supported. Impulse sequence unfolds in 5, 9, 13, 17, 21….. swings count. It ended daily corrective pullback in double correction at 16460 low of 4.07.2025 low. On daily, it should extend into 28864 – 26152 area to finish April cycle before next pullback start. Above there, it favors rally in (3) of ((1)). It placed (1) of ((1)) at 21858.75 high, (2) at 21071.50 low as shallow connector & favoring upside in 5 of (3) against 7.13.2025 low. Every pullback after 4.21.2025 low was shallow & unfolded in 3, 7 or 11 swings calling for more upside as long as it stays above 5.30.2025 low. Within (3), it ended 1 at 22222 high, 2 at 21566.75 low, 3 at 23102.50 high, 4 at 22803 low & favors upsides in 5 of (3). Wave 4 as flat correction ended in 7.13.2025 low of 22803 low.
Below 3 of (3) high, it placed ((a)) at 22779.75 low, ((b)) at 23112 high & ((c)) at 22803 low as flat connector against 6.22.2025 low. Above there, it ended ((i)) at 23424.75 high as diagonal & ((ii)) at 23108 low in 3 swing pullbacks. Above there, it should continue rally in ((iii)) of 5, which will confirm above 23424.75 high to avoid double correction. Within ((i)), it placed (i) at 23222.75 high, (ii) at 22835.5 low, (iii) at 23320.75 high, (iv) at 23169.50 low & (v) at 23424.75 high. Currently, it favors upside in 5 of (3) into 23493.5 – 23934.5 area, above 7.13.2025 low before (4) pullback. Based on swing sequence, it already has enough number of swings in (3) to call the cycle completed. But as long as it stays above price trendline, passing through 2 & 4, it should continue upside into extreme area. We like to buy the next pullback in 3, 7 or 11 swings at extreme area for intraday rally. It favors upside in April-2025 cycle & expected to remain supported in (4) & later in ((2)) pullback as next buying opportunity.
SET
Apil 2025 since the price is oversold from Feb2025 price still drop contrary with momentum
BigBlack candle followed by exhaustion gap at exactly the end of wave 5 of C
Pattern Double Bottom, Island Reversal
Be careful with the false break out at 1,250. Look closly at the momentum
Around 1,100 is a good buy zone and I do think once it break 1,250 or 1,300 price will never come back to 1,100 again.
BTCUSDT_4H_BuyBitcoin Analysis 4-Hour Medium-Term Time Frame Elliott Wave Analysis Style The cryptocurrency market leader is rising in the form of five Elliott waves, which we are currently in wave 4 correction and can move up for wave 5 by completing the correction time. Important number $118,800 Target $125,000 to $127,000
USDJPY Ascending channel bullish strong from support 📊USDJPY Analysis – 4H Timeframe
USDJPY is giving full respect to the bullish ascending channel, maintaining higher highs and higher lows with clean structure
📍 Key Support Zone:
Strong buying interest seen near 147.200 — potential long opportunity from this zone
Watching for bullish confirmation or entry setups at this level
🎯 Next Target / Supply Zone:
🔹149.000 – marked as the next resistance / supply zone where price may react or slow down
Bullish Order Block (OB) sits deeper at 143.000 – a strong area of interest if price pulls back further
🧠Stay patient and let price action lead — clean structure, smart levels, and risk-managed entries
What’s your take on USDJPY right now? Drop your thoughts
#usdjpy
#BankNifty directions and levels for July 23rd:Looking at the chart, the current view suggests:
* If the market sustains the gap-up and breaks the immediate resistance, we can expect the pullback to continue with a moderately bullish tone.
Alternate view:
* If the gap-up doesn’t sustain and the market declines initially, it may reach the immediate support level.
* If a pullback happens from there, we can expect a range-bound market.
* Conversely, if the support breaks, the correction is likely to continue.
#Nifty directions and levels for July 23rd:Good morning, friends! 🌞
Here are the market directions and levels for July 23rd:
The global market shows no major changes and continues to maintain a moderately bearish sentiment.
Meanwhile, the local market is exhibiting a moderately bullish tone. Today, Gift Nifty indicates a gap-up opening of around 60 points.
What can we expect today?
In the previous session, both Nifty and Bank Nifty couldn't sustain the gap-up start. Structurally, we are still in an unclear zone.
However, my expectation is that today’s market may take some consolidation after the gap-up start.
Looking at the chart, the current view suggests:
* If the market sustains the gap-up and breaks the immediate resistance, we can expect the pullback to continue with a moderately bullish tone.
Alternate view:
* If the gap-up doesn’t sustain and the market declines initially, it may reach the immediate support level.
* If a pullback happens from there, we can expect a range-bound market.
* Conversely, if the support breaks, the correction is likely to continue.