WaveSavvyTrades

WaveSavvyTrades

Apologies for yesterday's shabby analysis. Today's one is a detailed analysis considering the starting point of price. This symbol has currently formed a truncated wave (thus wave 3 and 5 end at same point). More often truncated wave reverse all the way to the starting point of the wave (thus price of 1.0535). To take things one at a time, the price is currently...

WaveSavvyTrades

The price of this symbol is currently trading in a rising channel (a bearish structure). Further, the RSI is also showing a bearish divergence. If the resistance of the rising channel holds, this symbol could fall to 1.2200.

WaveSavvyTrades

The price of this symbol has made a double top, and has began a move down towards the neck area of the double top. Also the price is moving down in a wave-like fashion which fits elliot wave pattern. Price is currently retracting to form wave 4, and could find resistance at 1.0841 - 1.0853 (0.5 fib and 0.618 fib of wave 2 respectively). If the resistance hold, I...

WaveSavvyTrades

Looks like the VIX may fancy some action. I don't really trust this symbol especially how it has been broken lately. However, there seems to be a falling wedge. If it is valid this may rise in the near term.

WaveSavvyTrades

Price for this symbol seems to have been trapped between a support zone and a resistance zone for quite a while now. A break out in either direction could possibly bring very strong moves. The price is currently at the resistance zone plus the price seems to have formed a rising wedge. If the wedge structure is valid and price turns bearish it could head to the...

WaveSavvyTrades

The chart explains everything. If you like these analysis or they are helpful to you in anyway please like and follow me. It will encourage me to keep making them.

WaveSavvyTrades

Well well well. If this wave hypothesis is right, then the 10-year treasury yield will be bullish and that the banking crisis may not be over as treasury price is inverse to the yield. Seems very bullish dollar is underway and the 10-yield may catch up with the rate rises. This could also be bearish for gold and the US equities too especially the NASDAQ. If you...

WaveSavvyTrades

The NDQ looks very bearish according to Elliot wave theory. Major wave 3 to the downside started in August 2022. The price has completed subwave 1 of major wave 3 and currently undergoing correction subwave 2 correction in a triangle. If the resistance of the triangle holds, subwave 3 of major wave 3 could be underway and the price could likely head to sub 7000...

WaveSavvyTrades

We finally have a structure to short from but the safest option will be to wait for after BoE. I haven't sill entered any position yet. I am waiting for BoE as I know there is plenty of pips to grab if this bearish flag plays out. See previous wave analysis below. If you enjoy my analysis or they are helpful to you in anyway, please like and follow me. From some...

WaveSavvyTrades

Following the recent correction of the DXY to the 100.80 level, the symbol has recently made a leg up to the 105.8 level. This leg up fits with what can be described with the Elliot wave hypothesis. After reaching the 105.8 level, the price has retreated to the 103 levels and it is approaching the 0.68 fib level (the top of the support zone). With vote on Sunak's...

WaveSavvyTrades

Well well well look what we have here, a truncated wave yay!!!!! All the bears are awake. GBPUSD has formed a truncated wave and If we are to go by the text book, price should go all the way down to the previous low, however, we like to take things one at a time so we should be looking forward for price to reach wave C (1.15) for the next leg down. If you like...

WaveSavvyTrades

EURUSD has been forming some really complex structures which has currently been found out. The price is currently in a broadening triangle and moving towards the resistance zone. If our wave hypothesis is correct, I expect price to complete wave 5 with a target of about 1.03. If you like these wave analysis, please like and follow me.

WaveSavvyTrades

This symbol has been trending up following the correction from the October 2022 high of 152 to 127.4 region. The pair has been trending up in a wave-like fashion and has currently completed waves 1 to 3. Assuming the 50 daily SMA acts as support (which is usually a reliable support considering the correction of wave 3) and completes wave 4, we would be set to go...

WaveSavvyTrades

This symbol is probably one of the most difficult if not the most difficult forex symbol to trade. No wonder it has such obscure waves and exhibit some of the anomalies of wave analysis which Ralph Nelson Elliot talked about in his book. We have identified the five-wave correction from the January 2023 low (137.5). The January 2023 low is wave a of the long-term...

WaveSavvyTrades

Dollar strength seems back on the board again this week. The price action has been following the elliot wave trend pattern. If our wave analysis is correct, the DXY would need to complete impulsive subwave 5. Further the current price action seems to be forming a falling wedge adding the the bullish bias. This is bullish for dollar against dollar pairs. This means...

WaveSavvyTrades

The JPY has taken a major beating following rate rise in major economies to curb inflation and the ultra easy monetary policy in Japan. Nevertheless, the Japanese Yen Index (JXY) seemed to have found a bottom at about 65.85 in October 2022. The has recovered some ground following the bottom in Oct 2022, and has successfully completed major wave 1 and formed a wave...

WaveSavvyTrades

This symbol is now trading in the consolidation zone (1.19 to 1.2260). Further, price has completed a five wave pattern and undergoing a correction. The price seems to have just broken out of the falling triangle. Moreover, with the current optimism from the brexit deal which seems to address the Northern Ireland protocol, I expect this pair to complete the...

WaveSavvyTrades

This pair looks tricky at the moment. Depending on what the structure in the ellipsis is, the price could correct a bit more upwards or fall from current levels. Price is currently sitting on the 50 weekly MA (which usually acts as a good support or resistance depending on price). With this, if price breaks out of the two white lines, it is possible to see 166.20...