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Elliott Wave Analysis: BNBUSD Has An Unfinished Wave C

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Mar 21 2022

Hello Crypto traders!

Today we will talk about Binance Coin - BNBUSD, its price action from technical point of view and wave structure from Elliott Wave perspective.

BNBUSD is trading in a big A-B-C zig-zag correction from May 2021 highs and it looks to be unfinished. In May 2021 we saw sharp and impulsive decline, which should be labeled as a first leg A. From May till November 2021 we have seen a three-wave corrective rally in wave B and since November 2021 it's trading now in wave C.

Wave C is a motive wave and it should be completed by a five-wave cycle. If we consider that May 2021 lows is still open, then current sideways consolidation could be easily just as part of subwave (4) correction before we will see another sell-off for the final wave (5) of C towards 250-200 strong support zone .

Trade well!

Elliott Wave Analysis: BNBUSD Has An Unfinished Wave C by ew-forecast on TradingView.com



Elliott Wave Analysis: AUDJPY Broke Out Of Triangle - UPDATE

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Mar 18 2022

Hello traders and investors!

Today we want to update our AUDJPY chart from February 10, which is moving nicely higher as expected after we noticed a bullish running triangle formation in wave (B).

As you can see, AUDJPY is now in the strong rise, but it's also approaching projected 88-92 target area for wave (C). However, wave (C) is a motive wave and it should be completed by a five-wave cycle of the lower degree, so be aware of more short-term gains before it finds the top. Keep in mind that triangles suggest final continuation leg before reversals.

Trade well!

Elliott Wave Analysis: AUDJPY Broke Out Of Triangle - UPDATE by ew-forecast on TradingView.com



EW Analysis: Bitcoin Is Consolidating Within Impulsive Downtrend

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Mar 14 2022

Hello traders and investors!

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

With US stocks in risk-off mode it's hard to be bullish on BTC , especially when we see a sideways consolidation, which is usually a corrective movement within downtrend. In fact, price action since end of January looks slow and corrective, possibly even a triangle pattern for wave 4 that can send the price back below June 2021 lows and 30k level for the 5th wave. So, as long as 46k holds, we think there is a chance for another drop in Crypto market.

Be humble and trade well!
 

EW Analysis: Bitcoin Is Consolidating Within Impulsive Downtrend by ew-forecast on TradingView.com



Elliott Wave Analysis: GOLD Is Trading In 5th Wave

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Mar 08 2022

Hello traders and investors!

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

Gold is coming sharply to the upside as a "safe haven" asset based on the latest US-Russia tensions. Higher inflation is also one of the reasons for higher metals. We see gold breaking out of wave (IV) triangle pattern , so we see this as a break towards new ATH . In the short-term however we should be aware of some pullbacks, but generally speaking, gold may stay up until it hits new ATH and fully completes final wave (V). Later then we will have to be aware of a higher degree corrective slow down.

Trade well!
 

Elliott Wave Analysis: GOLD Is Trading In 5th Wave by ew-forecast on TradingView.com



Elliott Wave Analysis: ShitCoin Index Is Eyeing July 2021 Lows

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Feb 23 2022

Hello Crypto traders and investors!

We are pretty sure you are wondering when it's time to buy cryptocurrencies again. Well, Cryptos are still trading in a bigger sideways correction, which we see it as an A-B-C flat formation, especially if we take a look on shitcoin index, where we see quite clear Elliott Wave Pattern, called 3-3-5 flat correction .

A 3-3-5 flat correction consists of three waves in leg A, three waves in leg B and five waves in leg C.
As you can see, we have (W)-(X)-(Y) complex structure in wave A, then wave have a three-wave (A)-(B)-(C) corrective recovery in wave B and now we are trading within a bigger ending diagonal pattern for wave C.
The ending diagonal is a special type of wave that occurs in wave 5 of an impulse, or wave C of a correction. This wave often occurs when the preceding move of the trend has gone too far, too fast, and has run out of steam. An ending diagonal pattern is a type of pattern that can occur at the completion of a strong move.

So, what we want to say is that shitcoin index and cryptocurrencies in general can be trading in final stages of a corrective movement, where we are tracking final wave (5) of C, which will ideally retest July 2021 lows and then we will expect real bulls to show up.

Be humble and trade smart!
 

Elliott Wave Analysis: ShitCoin Index Is Eyeing July 2021 Lows by ew-forecast on TradingView.com



Stocks Will Stabilize When Aussie Finds The Support

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Feb 16 2022

Hello traders and investors!

Today we will talk about stocks and Aussie ( AUDUSD ) pair regarding risk-on/risk-off sentiment, so if you are wondering when stocks will be back to bullish mode, then keep an eye on Aussie.

As you can see on the left correlation chart between SP500 and AUDUSD pair, always when Aussie finds the support, we see SP500 stabilization.

Well, if we take a look on the right Aussie chart from Elliott Wave perspective, we can clearly see a corrective movement, ideally a complex (W)-(X)-(Y) decline. We are already tracking final wave (Y), but it has to be finished in three legs A-B-C and as you can see, wave C is still missing.

So, if we are on the right path, then stocks might not be ready for a bull-run yet, until Aussie fully completes its corrective decline, where final leg may also occur as a spike down like back in March 2020 and January 2019.

Trade well!
 

Stocks Will Stabilize When Aussie Finds The Support by ew-forecast on TradingView.com



Running Triangle On AUDJPY Suggests A Bullish Continuation

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Feb 10 2022

Hello traders!

Today we will talk about AUDJPY pair and its price action from technical point of view and wave structure from Elliott Wave perspective.

AUDJPY is in a sideways consolidation since May 2021 and looks like a triangle pattern . Triangles are continuation patterns, which consist of five waves A-B-C-D-E and with current break above upper triangle line, seems like it's finally finishing a corrective running triangle that can take the price higher with room up to 88 - 92 area.

Of course, triangles can be sometimes very complex and they could take even more time, so in case of another decline, then we may see even more sideways price action. Anyway, as long as the price is above 80. 40 invalidation level, we can expect further rally.

Trade well!
 

Running Triangle On AUDJPY Suggests A Bullish Continuation by ew-forecast on TradingView.com



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