Qtum is showing good strength to continue towards the highs from 2022, it is above value area high from apr 2022 to now, it seems that wants to break the accumulation for the last two years with big monthly bullish divergences, momentum shifting to the upside and moneyflow increasing in the higher timeframes. The target is between value area low from last 2021 highs, monthly/weekly levels, fibonacci extension/retracement levels and anchored vwap from may 2021 high. TARGET: $7.25 to $9.70 up to (+145%)
HI TRADERS Pair : CADJPY Position : SHORT ( SELL) Entry Price : 107.800 STOP LOSS @ 108.150 TP 1 @107.450 TP 2 @107.100 TP 3 @106.750 ( Trailing SL )
We can see the current bearish channel, of which we anticipate a breakout to the upside, and a minor bull walk, lol..not a bull run. Then a massive fall is further anticipated, but where it will fall from lies between either $1.33 area or $1,52 area. After this, a terrible dump is anticipated all the way down to $0.40 area. This is highly technical analysis, with a considerable touch of sentimental analysis. For further surety, you can check up fundamental analysis on your own. Kindly engage and boost!
Some believe gold has finished it's bull run, old hat from the late 70's folks say they have seen this before and calling a crash. The Oct/Nov highs were ripe for a correction only, a wave four sideways triangle. This building structure has perhaps only a matter of days before breaking out, buy at today's support or wait for the upper breakout for confirmation. The coming wave five breakout will be strong, could coincide with geopolitical events. Upside in precious metals has much much further to go, the current stage is only folks getting interested...the coming chaos by design will usher in a stampede. There is insufficient PM's right now for delivery should holders request their holdings. Your opportunity to purchase PM's now, will prove prudent and wise. Appreciate a thumbs up, good trading and God Bless you all!
▶️In my longer term view for LUNC, we are currently in black wave 2 correction inside the larger gray wave 3. ▶️If this scenario plays out, we would be looking at a 2-3x gain in the next few months. ▶️It is not yet clear if black wave 2 is finished or we are still in a longer correction (A). ▶️ The blue descending trendline is the key for price to pump.
Prepare urself! we going to moon even harder than now!
Mondays can be the fake move or the setup for the reversal. With these swipes the open liquidations are out. Most of the traders are either in or out. which way to go now? This formation can break easely now so beware. Range 115 Low liquidation pool. 123 High liqidation pool. BTC will play the role who is in the lead. But keep an eye on the LTC/BTC chart. If bitcoin is moving and LTC is just hanging still watch the pair LTC/BTC.
Here's a simple template that can help you to draw good fib extensions off different useful swings when the is a possible Elliot wave pattern. This should help to flag up the high probability areas in a nice expression of the Elliot pattern and also give you warning levels to watch along the way in case the nice simple pattern fails. We're going to focus on two legs. There's a few more you can draw fibs from and have useful repeating ratios but to keep it simple I'm just going to focus on the two high value ones here. Working left to right on the chart notes: When we know waves 4-5 we can use it for wave C An extension fib drawn from low to high of the 4-5 swing (you'd know this was in when wave A breaks the trend) is very useful for determining the levels the market is likely to make a low and also the level which a capitulation event is likely. The 1.61 extension is the important level here. It can hold in a simple wave 4 spike out correction. If it breaks, usually price capitulates to at least the 2.20. More commonly the 2.61 in the event we're making a low (You'll usually find this is a 76 retracement of 1-5 also). In the first instance of a 4-5 fib, I've shown a 1.61 break. Bit of a dummy rally around the 1.61 (very common) and then the capitulation to the lower fibs. Which is more common in the first leg of a trend. Deep retracements are common in trend reversals. When we know 1-2 we can use it for levels for wave 3 When we know where waves 1-2 should be in our count we can draw an extension fib high to low on this. We can define waves 1-2 as being in by the breaking of the first wave 5 high. It's also possible to pre-emptively draw these fibs when you think we're at the end of wave C. Obviously these need checked and adjusted if things change. There are four main fib levels we use in this swing. 1.27, 1.61, 2.20 and 2.61. 1.27 and 1.61 levels here are expected to have pullbacks or soft stalls but ultimately break. They're levels to be careful. If it will fail these are hot spots for it, but once we have some reaction around 1.27 - 1.61 and a valid breakout we trend consistently to 2.20. That usually completes wave 3 of the trend. From 2.20 we'll get chop and some false reversals. This is wave 4. It'll go on for a while and be full of false breakouts. Every time something looks like it's happening, it's not. Eventually there's a false bear breakout and then a big spike to the 2.61. This completes waves 4-5. Now we're back to where we started. Once we know waves 4-5, these help with levels for C. Since we now are inside a developing trend rather than in the first leg of it, the retracement is likely to be shallower. Stopping a little past the 1.61. With the trading under there mainly being a wick. There's a big bounce from the 1.61. A pullback (usually to the 1.27) and then there's a break of the high. Once we have seen those legs, then we have our new 1-2 legs and we can use these to forecast where we expect the nice trending action of C. The soft resistance levels along the way that might turn the market if the Elliot thesis is incorrect and the target levels we know to look for the bigger crash correction. For so long as the Elliot cycle plays this, these things just keep rolling into each other and you can make pretty good forecasts of the trend levels.
HI TRADERS Pair : GBPJPY Position : LONG( BUY ) Entry Price : 195.000 STOP LOSS @ 194.650 TP 1 @195.350 TP 2 @195.700 TP 3 @196.050 ( Trailing SL )
As the S&P 500 gets ready for the Fed announcement on Wednesday regarding a potential decrease in the Fed funds rate a dramatic move on Tuesday would not be expected without new information to stimulate the market. I am looking for a sideways the only slightly higher movement on Tuesday.