WaveSavvyTrades

WaveSavvyTrades

The dollar index seems to have formed a triple top. After the weak print in the CPI and employment data, the neckline of the triple top was broken. More weakness in the dollar index is expected at the very near term. This could indicate a bullish bias for major currencies against the dollar in the near term.

WaveSavvyTrades

This symbol was trading in a downward channel for which price has currently broken out. Looking at the recent price action, the price seemed to have formed an inverted head and shoulders before breaking out of the channel. Further, the price seemed to be moving in a wave-like fashion. Price has recently completed wave 4 of wave 3, and needs to complete wave 5 of...

WaveSavvyTrades

After the recent crash due to the recent incoherent fiscal and monetary policy between in the UK, the GBP has been recovering well. The price is trading in a triangle and also undergoing wave formation. We are currently in the process of wave 5 formation. The price action has currently completed waves 1 and 2 of wave 5. Wave 2 of 5 is a 0.618 fib retracement of...

WaveSavvyTrades

I suspect the price action for this symbol is trying to complete wave 4 in an abc fashion or if you want to nitpick, an abcde wave pattern to form wave 4 (price of between 164.85 - 165). After completion of wave 4 in this price zone, normally the price should shoot up to complete wave 5. I will be expecting wave 5 to complete at target levels 168 and 168.7 respectively.

WaveSavvyTrades

Following levels should be watched for near term for the completion of elliot wave on 4H: 166.88, 167.82,168.39

WaveSavvyTrades

ETH is trading in a channel and has currently broken the 200 weekly SMA. Next target will be around the 810 level (point a)

WaveSavvyTrades

A bit of a wild one but It's worth sharing. Technically BTC has been on a wave pattern and also in a channel. The price seems to have completed a 1-2-3-4-5 wave pattern and currently undergoing an ABC correction. The price also seems to have broken the support of the channel. If all our hypothesis about channel, wave pattern and ABC correction are true, the near...

WaveSavvyTrades

This symbol seems to have been trading in a channel and following a somewhat complex wave pattern. I chose the line chart because it eliminates a lot of the noise in the current market and makes things clearer. The line chart shows that the current price is in a broadening descending wedge, and has or is completing the 'abcde' pattern. More often than not, price...

WaveSavvyTrades

This symbol seems to be trading in a descending channel. Price is nearing the bottom of the channel. Would be expecting some buying pressure from the support of the channel (at about 1.1355).

WaveSavvyTrades

In the past few weeks the VIX seems to have been tamed despite all the uncertainties in the market. We are currently approaching the trendline support spanning from Jan 2018 and we should hopefully see some reaction in this symbol. If the market responds at the trendline support like that of Jan 2020, a break of the triangle (indicated by the green arrow) should...

WaveSavvyTrades

The price of this symbol has been trending higher on the weekly chart in a wave pattern in a rising wedge/channel. At the moment price is doing an irregular correction of wave 5 and also currently in the resistance zone (August 2015 high). With price approaching the resistance of the rising wedge, and the resistance zone and the weekly RSI approaching the previous...

WaveSavvyTrades

This symbol is at a critical point. The price is currently at the November 2021 high (which could possibly be a resistance) and also seems to be breaking the resistance of the rising channel. Could the resistance hold or would price break above ? Your guess is as good as mine. However, I am more in favour of selling as some of the strength of AUD maybe attributed...

WaveSavvyTrades

BTC has formed a rising wedge and broken the support of the wedge. Price also looks like forming a double top if it gets to the 31.5K area. Further, the current downtrend seems to be the fifth wave of the 3rd wave down which should take price to the 31.5K area to form the double top. At this price point anything can happen if we break the neck region of the double...

WaveSavvyTrades

Gold is given mixed signals. On daily chart we have a death cross and a resistance zone halting price. At the same time we have a bullish RSI divergence and wave analysis possibly indicating bullish. Price is also in a triangle indicating indecision. A shrewd analysis would be to wait for price to break out of triangle. However, the wave analysis plus RSI...

WaveSavvyTrades

On average, price for this pair has been ranging between 1.7 and 1.76 since October 2019 to date. With the anticipated raise in interest rate by the Bank of England on Feb 3, interest rate differentials is set to be in favor of the GBP for the near to medium term which favours a GBP long. Further, any good correction in oil should see some buliish response in...

WaveSavvyTrades

Look at the arrows for short tp and where the next buying opportunity is. Good luck Disclaimer: This is not a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me.

WaveSavvyTrades

Seems this symbol is fond of chart patterns particularly inverted head and shoulders, triple bottoms and double bottoms. Price is currently in a channel and may have an inverted head and shoulder formation underway. Further 1.2575-80 seems to be the support of the channel and I expect some buying reaction from this region. In addition, this symbol has formed a...

WaveSavvyTrades

Price was supported by the trendline on the weekly chart. This is been followed by an inverted head and shoulder formation on the 2H chart. Should this pattern complete, price would likely reach 1.73+ region. Disclaimer: This is not a financial advice. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely...