Solid Signals
- Thread starter SOLIDECN
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BTC USD Elliot Wave Analysis
The most recent BTCUSD chart section displays the formation of a wave (W), which serves as the initial part of a potential double zigzag. Wave (W) may soon be unfolded as a standard A-B-C zigzag. Impulse A and correction B are completed, while impulse C is still under construction. Sub-waves [1]-[2]-[3]-[4] are formed within impulse C. Corrective sub-wave [4] looks like a double zigzag (W)-(X)-(Y). Thus, shortly the price growth is expected within the final sub-wave [5] towards the level of 22845.
Trading plan for BTCUSD today: Buy 20343.5, Take profit: 22845
Trading plan for BTCUSD today: Buy 20343.5, Take profit: 22845
Elliott wave Ripple analysis
The XRPUSD market shows that the linking wave XX has been completed. Later, the construction of a new zigzag consisting of sub-waves [A]--[C] began. Now the first sub-wave [A] is unfolding as the leading diagonal, judging by the internal structure. This diagonal will be completed near the 0.494 level, marked by a minor correction 4. Then the price may correct within the bearish wave , as shown in the chart.
Trading plan for XRPUSD today: Buy 0.456, Take profit: 0.494
Trading plan for XRPUSD today: Buy 0.456, Take profit: 0.494
XAUUSD
The gold price has broken through Friday’s high, and the price has been corrected since then. The market is now driving to the Additional Zone 1667 – 1666. The AZ is a strong support level, after the test of which, one could enter new purchases with a target at yesterday’s high.
If the AZ is broken out downside, the correction will continue down to the trend key support 1653 – 1650. After the key support test, I also recommend entering purchases with the target suggested above.
If the AZ is broken out downside, the correction will continue down to the trend key support 1653 – 1650. After the key support test, I also recommend entering purchases with the target suggested above.
- Buy in Additional Zone 1667 - 1666 | Take Profit: 1681 | Stop Loss: according to the pattern rules.
- Buy in Intermediary Zone 1653 - 1650 | TakeProfit: 1681 | Stop Loss: according to the pattern rules.
GBPCAD
Looking at the daily chart, the GBPCHF pair consequently dropped value from 1.6917. We have the "upper long wick" candle in the daily time fram suggesting possible decrease in the price with SL above the wick.
Zooming to the 4H time frame, the price reacted to 1.67992 - 1.67921 support area. The market for this instrument is considered bullish as long as this level is intact, and another rise to 1.6917 would be possible.
Trigger chart is the 1H time frame. Entry price is 1.6806 with the first target at 1.6847 followed by 1.6917.
USDJPY
The USDJPY is forming a double top pattern on the 1H chart, reacting to the resistance at 142.24. The pair couldn’t close above the aforementioned level.
By zooming out to the 4H chart, we see an "upper long wick" candle giving a signal with a risk of getting stopped above the last high and a 1 to 1 ratio reward around 141.27.
By zooming out to the 4H chart, we see an "upper long wick" candle giving a signal with a risk of getting stopped above the last high and a 1 to 1 ratio reward around 141.27.
USDCAD
The pair is trading in the downward channel and slightly above the 50 SMA. Resistance is located at the Fibo 0.236 level around 1.3260. The bearish scenario is valid and active as long as the price trades below the aforementioned level and channel.
Zooming into the 30 minutes chart, we see a bearish engulfing candlestick formed near the channel line. A sell forecast with a stop above 1.3260 targeting the previous low at 1.3140 seems reasonable.
Zooming into the 30 minutes chart, we see a bearish engulfing candlestick formed near the channel line. A sell forecast with a stop above 1.3260 targeting the previous low at 1.3140 seems reasonable.