NOT ~ 1D Analysis #NOT Buy gradually after successfully penetrating this resistant line with a short -term target of at least 10%+.
In corrective patterns, Wave 2 can sometimes include large expanded waves. Here’s a simplified example of a potential Zig-Zag trade. The critical support level is at the start of the move at $79,962, while key support lies at the 0.786 retracement level at $81,635 if we break above $84,630. The target for Wave (C) is $90,547, aligning with the length of Wave (A).
? Technical Context: Market Structure: Price is in a long-term sideways range with lower highs. AUD/CAD is struggling to break above the 0.90–0.91 region, showing signs of exhaustion. Zone of Interest (Supply): Purple box: 0.9000 – 0.9100 A clean historical rejection zone that has acted as both support and resistance multiple times since 2022. Entry Type: Sell Limit @ 0.9070 placed slightly below the top of the resistance zone to increase likelihood of getting triggered on a spike. Stop Loss: 0.9175 – above multiple wick rejections and key structure highs. Allows breathing room for volatility without compromising the structure. Take Profit Targets: TP1: 0.8650 (conservative target at strong support) TP2 (optional extension): 0.8500 (major long-term range low) Risk-Reward Ratio: ~1:3 minimum to TP1, potentially 1:4+ if extended to 0.8500. ? Strategic Notes: Trigger Conditions: Wait for a retrace to the 0.9070 zone rather than enter at market open. This is based on the idea that a final upward effort could grab liquidity and fill your limit. Monthly Candle Watch: Monday is month-end. Monitor the monthly close to determine if the structure still supports the trade idea. If the close is strongly bullish and you’re triggered early, be open to closing the trade early to avoid deeper drawdown. Why It’s High Probability: Multi-year horizontal structure Repeated failure to hold above 0.90 Candlestick wicks rejecting the same zone Fundamentals slightly favor CAD over AUD (higher real yields, oil correlation) Defined invalidation point and asymmetric reward
Should BTC's last significant leg up repeat in similar volume following the 70-day adjusted BTC-M2 chart, we could see BTC achieve 127k by June, if not sooner. Stay patient.
AUD/JPY is at a key area of resistance/support and shows strong signs of a reversal into consolidation.
Tesla has an Elon problem aka a SENTIMENT problem I am a 100% Technical Trader I am an avid believer in Elliott Wave Theory and Socionomics From those perspectives its clear to me that Tesla is in trouble...long term Tesla went from essentially a meme like stock to a media and Institutional darling The meteoric rise in the stock was largely because of belief in Elon..the person Yes his companies have done some pretty amazing things..but if we are honest there are tons of failed promises in their past and now we are seeing competitors start to really make ground This is showing up in vehicle pricing and units delivered..both trending down The problem Tesla stock truly has though is that soooooo much of the company sentiment is tied into a belief in Elon- the person..versus the fundamentals of the company and their actual products (cmon we all know LIDAR is better smh) As his popularity wains... so will Tesla So with that said the charts are setup to provide opportunities for BOTH BULLS and BEARS over the next few years. The chart show really clean places to take and hedge positions... but long term BULLS need to be keely aware of the "Trouble" line because if and when it breaks Tesla will be in serious trouble
NZD/USD has reached a key area of support and shows strong signs of reversing back into consolidation while also being oversold.
ECONOMICS:USPCEPIMC (February/2025) source: U.S. Bureau of Economic Analysis https://www.tradingview.com/x/2vfqldIc/ - The US PCE price index rose by 0.3% month-over-month in February, maintaining the same pace as the previous two months. The core PCE index increased by 0.4%, the most since January 2024, surpassing the forecast of 0.3% and up from 0.3% in January. On a year-over-year basis, headline PCE inflation remained steady at 2.5%, while core PCE inflation edged up to 2.8%, above the expected 2.7%.
TESLA has retraced over 70% in past corrections SUB 200 would be a SWEET deal I am looking for 185 and a 6 figure play will alert yall step by step show me some LOVE I am currently long with my last buy at 237!
Due to the lack of sustained downward momentum overnight and the overall weak move, I have relabeled the decline from $88,839 as a sharp correction, potentially marking the end of Wave 2 in a Wave E corrective bounce. Wave 1 appears to be a Type-2 Weak 5-Wave move that began at $79,962. To confirm this bounce, we need a break above $84,630, with a protective stop set at the last low, currently $81,635, aligning with the 0.786 retracement level.