A long term forecast for Bitcoin going into 2021.
I am counting the third wave to be in the region of 33k - 38k USD. An extended third could possibly go in higher but I won't entertain it just now as it's anyone's guess.
In accordance to Elliott Wave theory, the third wave is typically the most impulsive so it is possible that we achieve this level...
GOOD DAY TRADERS
PRICE IS PRESENTLY IN A DOUBLE CORRECTION WITH A FLAT AS THE FIRST CORRECTION AND WE ARE GETTING A ZIGZAG AS THE SECOND CORRECTION.
FOR THE ZIGZAG I THINK WE HAVE WAVE A AND B AND WE ARE LIKELY TO GET WAV E C IN THE WEEK
A quick update on Gold and the fourth wave is still in progress. As mentioned in the linked idea, I'm expecting the corrective sequence to continue into December and print a new quarterly low with the Horizontal support level at 1800-1765 providing some confluence.
I will be looking to take swing positions once this low is in as we are likely to get...
A long term forecast for Gold going into 2021.
I am counting the fifth wave to be in the region of 2185 - 2300 USD.
Will provide detailed counts and price levels once we're into the final wave of this leg. Please follow for further updates.
Do leave a comment if this idea caught your attention. I'm keen to hear your thoughts and as always, a like...
Provided the broad market doesn't start to take a real beating & this remains only a correction for tech I would expect a continuation of the trend for the dollar. See the blue shaded area for projected levels where the trend may continue.
Following on from my Gold & Silver analysis I'm finishing up with some analysis on the Gold/Silver ratio. Expecting another silver spike to correspond with the 5 wave in both Gold & Silver. Since the start of the metals rally back 2018 my motto has been buy Gold on pullbacks and buy Silver on momentum. Then close out both at the end of a significant move. Keep in...
This pair is a definitely a Long trade. Looking at the previous time frames with 1 Day and the market is trending up, On June 9th 2020 the market has touched the 0.70374 after a 31st December 2019 and has crossed the resistance level for a 1 Day chart.
As it is trending high the market would touch the next resistance point at 0.73726 before the trend reverse....
USD/JPY to continue downtrend in my opinion, with Elliot wave 5. As you can see market is now in a downtrend, I predict market to reach correction which it has then impulse then correct then impulse and so on!
Can go short or hold for long!
Looking to EURNZD, there is a good setup in this pair.
Based on EW, I would like to see the price getting higher to my "Area of Value" and I will go to lower timeframe to get into short opportunity.
We can call this intraday trade, in order to confirm my short bias of course I would love to see if the price makes a Lower Low in Daily TF before doing any pullback....
Target in sight sell 12400 target 9757 > 7787
Ending diagonal typically occur in waves 6/7, sometimes they fall short of the upper trend line. I think this one is going to fall short of the line and terminate at 12400
Zoom in this chart to notice PA on a lower TL.
The GBP is an undervalued currency since the Brexit vote 2yrs ago , this decline means it holds a notional bullish sentiment. The BoE has maintained a hawkish stance amidst the geopolitical hurricane subsequently favouring a strong pound. We choose to look for rallies based on this fundamental bias. The charts too...
GBPJPY has formed a 5-wave motive wave & an ABC correction.
We would now like to go long from the current level with a stop below the C wave.
A simple, effective wave count with nice profit targets & great risk/reward ratio.
Updates will be posted as the trade progresses
Here we have a beautiful trade setup for USDCAD.
Since our last call price has declined by 160 pips, breaking the small trend channel formed during the ABC correction.
We've seen price pull back to retest the bottom line of the channel & it is now trapped beneath the 0.382 fib retracement level.
Strong upside rejections supports the likelihood of bearish...