Stoic-Trader

Stoic-Trader

From an Elliott Wave point of view, we could be near a downside correction (wave C). The rise from late May doesn´t have the same momentum, and looks like an ending diagonal. A break from the bottom of the ascending wedge would indicate wave C is in progress

Stoic-Trader

Probably not the most popular opinion, but in my primary count, DUSK would still have one more leg down for Wave 5. Count is valid as long as we stay below 0.0830 (wave 1 low).

Stoic-Trader

The token is correcting the whole move up which began in early 2023 (at 0.03560). We are currently in wave C of the correction, so we could see bulls beginning to show up soon. Price is grinding downwards inside the green descending channel. A breakout from the top of the channel could indicate the correction is over, with a lot of potential upside.

Stoic-Trader

I am considering we are currently inside blue B corrective wave, and expect further downside for blue C. Wave B could be finished, but I´d prefer to see a liquidity sweep targeting 50% pullback, and dropping right back below the green resistance zone. This would be a great place to enter a short trade.

Stoic-Trader

Ethereum is looking bullish, and is respecting clearly defined support and resistance levels. In my primary count, we have finished black wave 1. The question is to determine if black 2 is already finished, which could lead to strong upside. There is no way to know without further price action, and a break of green resistance is a very bullish signal.

Stoic-Trader

I´m keeping an eye on a quick pullback on AAVE for a potential 1-2/1-2. The thesis is that black 2 finished in the 50% pullback and we´re currently finishing blue 1. Blue 2´s pullback would be a great opportunity for long trades with a very tight stop loss. The gray zone, with gave us a fake breakout for black 1, may be the temporary resistance for blue 1.

Stoic-Trader

I am expecting further downside for V, based on: Bearish RSI divergence on recent top (on 4H and Daily timeframes) Lack of Bullish RSI divergence on recent low Strong volume on downside, smaller volume on upside The 1st target is green support zone around 320.

Stoic-Trader

Although price has been recovering for the last couple of weeks, I still don´t see clear reversal indications. We have yet to see a higher high / higher low, or bullish RSI divergence. These are key to consider a reversal. The green resistance zone is a key level to be broken for a bullish bias. Meanwhile, I´ll still be looking for downside reversals in...

Stoic-Trader

I´m treating the recent upside as a corrective movement, and still expect a lower low. Reasons: -> Upside does not look like a motive wave. -> Lack of RSI divergence on the 4H or Daily Chart on the recent low. I will look for reversals in the green resistance levels for short trades.

Stoic-Trader

On the Daily, the pairs grind to the upside is still going on, but we have signs of exhaustion: - Bearish RSI divergence - Price is inside a channel with a shallow slope (ending diagonal) This leads me to consider we are close to finishing blue 5 of black 5, and can expect a correction soon. Ideally, I'd wait for a lower low / lower high and break of the...

Stoic-Trader

Zooming out to the bigger picture, we can see that we are approaching a strong support level around 18.60 (green zone), with bearish RSI divergence. There is a high probability that this zone will serve as a catalyst for USD strength, at list in the short term. Initial targets would be: minor blue resistance zone around 19.20 major gray resistance zone around...

Stoic-Trader

I expect at least one more liquidity-grabbing leg up for blue wave 5, before a correction begins. First target for the correction is 168 (blue area), which is the beginning of this latest upside wave. Note that you should trade wave expectations... wait for a reversal pattern and clear bearish price action before taking any shorts.

Stoic-Trader

Bank of America is targeting new all-time highs (currently at 50.11, purple line). The gray zone at 48.00 could offer some resistance for a short term pullback. This could be an opportunity for long trades (right now, RSI is overextended at 76).

Stoic-Trader

We are getting close to the invalidation level (all time low), but the downtrend is losing strength. First bullish signal would be a break of the green descending channel. Or, if you´re into YOLOing, begin building a position from current levels (high risk, since we don't have any bullish price action yet).

Stoic-Trader

Ripple could already be in the subwaves of gray 5. The gray descending trendline was broken and is serving as support for the correction. In smaller timeframes, price is still making lower lows and lower highs. I´d wait for a clearer reversal in the 4H before taking long trades. Invalidation is at 1.6134 (potential gray 4 low).

Stoic-Trader

This is my current trade plan for Gold. I don´t believe the correction is over, and will be watching for potential shorts after some upside movement (green b -> c trade). But the bigger opportunity will be on the conclusion of green c / blue 2, from where we can really get another strong leg to the upside.

Stoic-Trader

I´m considering the recent downside to be a correction from the move which began on mid-April. Price is finding support in the blue 0.18 zone, but the lack of any reversal patterns in smaller timeframes leads me to believe that we will still see further tests of this level. Break of the green descending trendline would be the first indications that bulls are...

Stoic-Trader

I´m following a potential reversal for EURGBP as a Head and Shoulders pattern. Neckline break at 0.845 would take us to the next strong resistance level at 0.853. Bullish RSI divergence is supportive of this scenario.