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Elliott Wave Intraday Analysis: GME Is Looking Higher

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Apr 13 2022

Hello traders and investors!

Today we will talk about short-term intraday GME structure in which we see pretty nice and clean bullish setup formation, at least for a three-wave (A)-(B)-(C) rally away from the lows.

As you can see GME made sharp and impulsive rally in March that belongs to first leg (A). In Elliott wave theory, after every five waves, we can expect a three-wave pullback before a trend continuation. So, currently we are tracking an A-B-C corrective setback within wave (B) that can be slowly approaching the end, as we see it moving in final stages of wave C of (B). Ideal support in Elliott wave theory is at the former wave 4 and golden 61,8% Fibonacci retracement which comes around 125 level, so final subwave "v" of C can be still missing.

What we want to say is that we should be ready for more gains within wave (C), but ideally once current wave (B) correction fully unfolds. Of course, there's a chance for bigger or more complex wave (B) correction, but the count remains valid as long as it's above 77 invalidation level.

Trade smart!

Elliott Wave Intraday Analysis: GME Is Looking Higher by ew-forecast on TradingView.com



Elliott Wave Analysis: Russell-Small Caps May Face More Weakness

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Apr 12 2022

Hello traders and investors!

Today we will talk about small caps - Russell 2000 Index in which we see nice and clean bearish setup, which means that Russell may face even more weakness in current risk-off sentiment.

From Elliott wave perspective Russell can be trading in bigger, higher degree A-B-C corrective decline, where wave C is still missing. We can see five waves of decline into first leg A, followed by a three-wave corrective rally in wave B, so wave C can be now in play.

From technical point of view, Russell made an impulsive drop from the highs and retraced perfectly back to the former wave 4 resistance area, from where we can already see sharp sell-off that can take us much lower, especially if breaks channel support line.

Well, seems like bears are still in control and we should expect more downside pressure in upcoming days/weeks, maybe even down to 1500 area, but firstly we want to see broken 1900 bearish confirmation level.

Trade well!

Elliott Wave Analysis: Russell-Small Caps May Face More Weakness by ew-forecast on TradingView.com



Elliott Wave Analysis: Palladium With Bearish Setup Formation

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Apr 11 2022

Hello traders!

Today we will talk about Palladium, its price action from technical point of view and wave structure from Elliott wave perspective.

On Palladium we have noticed the top for wave (V) at the beginning of March and in Elliott wave theory, after every five waves we have to expect at least a three-wave A-B-C pullback.
As you can see, Palladium turned down sharply and impulsively in March, which we see it barely as a first leg (A). After a completed wave (A), we can now see it trading in an A-B-C corrective recovery within wave (B), where ideal resistance is here at the former wave 4. So, from Elliott wave perspective, we have just got a nice bearish setup formation and we have to be aware of another sell-off for wave (C) soon.

From technical point of view we see nice resistance here around 2500-2600 area and channel upper line, maybe even up to 50%-61,8% Fibonacci retracement and 2700-2800 area, but keep in mind that a reversal down towards projected strong 1500-1300 support zone may occur anytime soon.

Trade well!



USDJPY Could Retest The Highs, While US Bonds Are Down

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Apr 07 2022

Hello traders!

Today we want to share an intraday update for USDJPY pair in which we see nice and clean bullish impulse in progress, ideally back to highs for wave 5 that can retest the highs and 125 - 126 area.

The main reason why USDJPY may stay up is still an unfinished five-wave decline on 10Y US Treasury Notes.
As you can see, there's a negative correlation, so if bonds are still pointing lower for wave (5), then USDJPY could easily stay up, while the price is above 123.05 invalidation level.

Trade well!

USDJPY Could Retest The Highs, While US Bonds Are Down by ew-forecast on TradingView.com



Surfing the Waves April 06 2022 - Video Update

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Apr 06 2021

Hey traders!

Below is new video analysis for EURUSD, NZDUSD, DAX, GOLD and USDMXN sponsored by Orbex.com
 



German Dax Can See Deeper Correction; Support at 14000 - 13500

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Apr 05 2022

DAX is waking up, making higher highs and higher swing low which is a bullish trend since March low, so we can expect more upside after any retracement since this is wave A, still only the first leg of a higher degree A-B-C recovery. We can actually see a completed five-wave cycle within first leg A in the 4-hour chart so looks like correction in wave B has just started. That said, an upcoming A-B-C setback can retest 14000 - 13500 support area .

Also, keep in mind that if ECB turns out to be more hawkish and if we will not get any positive news out from the Ukraine-Russia situation then DAX can be easily come down into wave C.

Grega
 



Aussie Is Approaching Potential Resistance Ahead Of RBA

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Apr 04 2022

Hello traders!

Today we will talk about Aussie ( AUDUSD ) in which we see slow price action and corrective wave structure since end of January that can be now approaching important and strong October 2021 highs resistance area ahead of important RBA.

From Elliott Wave perspective, we are tracking a complex 7-swing A-B-C-X-A-B-C elliott wave corrective rally which can be nearing the end, as we see it trading in final stages of wave 5 of (C). The main reason can be a break out of wave 4 elliott wave triangle pattern that suggest final leg before a reversal.

From technical point of view, we see it coming into important channel resistance line connected from the lows and interesting Fibonacci levels that can stop anywhere here in the 0.7550 - 0.7650 resistance zone .

Trade well!

Aussie Is Approaching Potential Resistance Ahead Of RBA by ew-forecast on TradingView.com



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