Free Forex tips

Access free trading tips and analysis on major forex pairs, cryptocurrencies, and Indian NSE currency tips. Stay informed and improve your forex trading skills with Moneymunch.

NASDAQ AMAZON – Wave Strength Analysis On Daily Chart

0 40513

Free nse amazon chart calls

NASDAQ AMZN has started an impulsive cycle from 81.33, and the price is forming the final wave (5). The price has accomplished a corrective wave (4) and formed sub-waves of the impulsive wave (5). Wave Formation & Fibonacci relationships: Wave (2):
  • Wave 2 has formed an expanded flat with a 3-3-5 structure.
  • Price retraced 78.6% of wave (1).
Wave (3):
  • Wave 3 has constructed a motive structure.
  • Wave 3 is an extensive wave with a 3.618 multiple of wave (1).
  • The sub-structure and element structure is visible.
Wave (4)
  • Wave 4 is a zigzag formation and can be mentioned as a triangle by changing the labels.
  • Wave (4) retraced 50% of wave (3).
Wave (5)
  • The structure of wave (5) does not look like an ending diagonal. So, the last option for us is to assume it is an impulse.
  • The common Fibonacci relationships are: – Wave 5 = Wave 1 – Wave 5 = 0.618 reverse Fibonacci of wave 4 – Wave 5 = 0.618 X Waves 1 through 3 – The upper band of the parallel channel and throw-out out in many cases.
ADX (average directional index): The ADX (14-day setting) shows strength coming but doesn’t advocate the cause of the shart surge. Traders must note to take high probability traders after ADX crosses 30. It only measures whatever trend it is, should one trade or not, by measuring the strength of the trend. ADX level of 22 shows that the market can be choppy in many instances. Weekly Trend: The weekly trend looks strong, as the price has broken out a crucial resistance zone at 143. If the weekly trend & Daily trend are bullish, day traders can take long traders to be within the trend. To look in-depth, we have to analyze the shorter timeframe. This way, we can get a clear story of wave (5) before initiating any position.Continue reading

SPX – A Peculiar Reversal Or Straight Continuation

2 43211

Free s&p chart calls

Timeframe: 4h SPX has formed a corrective A-B-C zigzag formation on the hourly timeframe chart. The price has accomplished wave (b) at 4561, creating the final wave C of the corrective wave (c). SPX has occurred sub-wave 4 at 4333 and started forming sub-wave (5) of wave (C). According to the Elliott wave principle, an impulsive cycle can only start after the breakout of the sub-wave (4). SPX has taken third support on the dynamic support line. Another clue could be the descending channel of subwave 2-4, and the breakout able to reach wave (B). If the price breakout wave sub-wave 4 of wave (C) at 4333, traders can trade for the following targets: 4416 – 4486 – 4540+. We can see that the mid-term trendline is holding the price movement, and failure to sustain above the dynamic support can lead to worse conditions even if the price has retraced 61.8% of the overall move. Moving averages are trading above the price, and a rising RSI shows the strenth is about to come. Premium subscribers will get trade setup with entry, exit, and invalidation levels.Continue reading

Commodity Silver’s MOON to EARTH Journey May Start

4 25762

Free Forex Silver (XAGUSD) Daily Chart & Signals

XAGUSD investors must fear to 18.305 level. At the current stage, it is strong support.

And if that happens with a breakout, be ready for the 17.00 and 16.00 levels because it’s a very crucial point for short-term investors.

My point is to explain XAGUSD first because it closed at 18.902, and whenever it comes to hit the 18.305 level at that moment, the MCX silver will try to fill the following area (see the chart below).

Free Commodity MCX Silver Daily Chart & Tips Continue reading