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Is Silver(XAGUSD) Ready For Trend Change?

January 9, 2022, 7:39 pmMay 31, 2022 2 38698

Silver(XAGUSD) has formed a downtrend channel for more than 48 weeks. Price has made a high of 30.03, and sellers entered the market.

Price Action Perspective:

Price has made a series of Lower Highs and Lower Lows, and the control line gives nine touches.

According to Dow theory, if the price breaks the previous LL, it will make a new LL. The upper band & lower band has provided strong reversals to the price.

After breaking the LL, if the price gives a breakout of the downtrend channel, it indicates the worst fundamentals. And if the price gets reversed to create the lower band of the downtrend channel, the price will march to the upper band touch.

Elliott Perspective:

Price has constituted a corrective structure, where price has completed double zigzag(w-x-y).

It will create the last leg wave Z in order to complete the Triple correction. After making the last leg Z, silver will start a five-wave impulsive wave.

If you are a premium subscriber, you can unlock the premium box for XAGUSD.

Will Gold (XAUUSD) Reach $2050 Before December 2022?

January 9, 2022, 5:42 pmMay 31, 2022 12 187909

XAUUSD is forming a triangle on the wave ((4)).

This correction has taken more than 17 months, but the triangle is not over yet. Price has completed wave D of the 4th wave triangle, and wave E of wave A is in progress.

After completing the wave sub-wave A, the price will start wave B & then wave C.

The ending point of wave E is the starting point of the impulsive cycle.

Calculation of wave E:

Wave E can end 100% of wave sub-wave A at 1726.

Wave E can end near previous sub-wave B at 1719

Wave E can end at 100% of wave D at 1704.

Traders can wait for the breakout of the B-D trend line. Note that if the price doesn’t break the B-D channel, sideways will be continued.

CADJPY Marching Towards The Second Target.

January 5, 2022, 11:21 amMay 31, 2022 2 25915

Before:

CADJPY was forming a last impulsive wave 5 of primary degree.

It had completed the corrective structure, running flat.

After accomplishing the C leg, the price surged from 87.48 to 90.

Price was above 50-MA, which was the indication of a strong trend. It was a beginning of a new impulsive move. I found that the price can make a big move up to 93.84.

As I mentioned in my previous article, “We can expect the following targets 91.46-92.29-93.849“.

Click Here to read the previous research report.

After:

Price broke the 50-MA & minor resistance of 90.382.

Yesterday, CADJPY reached the first target of 91.46 and made a new high of 91.667.

Although the price is gaining momentum, it never moves in a straight line.

It will create a series of highs and lows to create an uptrend.

EURCAD: Sentiments Are Short-Term Bearish, But…

January 4, 2022, 11:42 amMay 31, 2022 3 41448

EURCAD has completed corrective wave 4, and if the price breaks the parallel channel C, it may make a new low, which should be impulsive sub-wave 5 of wave (5).

If price breaks down channel C, the following targets for Wave 5 will be 1.4313 – 1.42520 – 1.41652- 1.41156.

After making wave (5), if the price breaks the B channel, it can go for 1.4645 and start a new 5-wave impulse structure.

Please note that the Breakout of wave (4) indicates a strong bull trend.

If the price breaks the channel without a downward, it indicates truncated 5th.
I will upload an intraday chart for further information soon.

AUDJPY Is Forming A Contracting Triangle

January 3, 2022, 5:27 pmMay 31, 2022 2 21929

Currently, AUDJPY is forming a contracting triangle on the corrective wave ((4)). Price has completed sub-wave (C), and sub-wave (D) is in progress.

After completion of the (D) wave, the terminating wave sub-wave (E) will break the B–D trendline of the contracting triangle.

Wave (D) can end nearby 78.6% retracement of wave (B).
If the price breaks the B–D trendline, It can move to 85.35 – 86.25 – 88 – 89. The traders should put protective stop loss at 78.78.
wave (5) may end at 89.609, which is inverse Fibonacci retracement 1.618% of wave (4)

Wave (E) can complete between 0.618 to .786 Fibonacci levels.
That’s why a trader can expect the following targets for wave (E) 83.44 – 82.50 – 81.03 as targets of wave E. If you want to trade wave (E), then you should have a trailing stop due to the high volatility of wave (E).

EWT: CADJPY Preparing for 93.84

December 31, 2021, 1:49 pmMay 31, 2022 2 40454

Price has completed the C leg of corrective wave Primary ((4)), and the price will march for impulsive wave ((5)).

Wave Formations:

Wave ((1))

– Leading diagonal
– Formed on extreme low
– Termination sub-wave 5 is smaller than 3

Wave ((2))

– Zigzag
– 50% of wave ((1))
– Ended near the sub-wave 4 of an impulsive wave.

Wave ((3))

– Impulse (Five wave moves)
– Extended 2.618% of wave 1

Wave ((4))

– Running triangle/running flat
– 38.2% of wave ((3))
– Ended above wave (b)

Wave ((5))

– Wave ((1)) was a leading diagonal, so wave ((5)) can’t form as a diagonal. It will be an impulsive wave.
– Wave 3 can end near 161.8% of the 4th wave at 93.492.
– Wave 1= Wave 5 at 93.765
– Wave 5 can complete after touching the parallel channel at 93.849.

We can expect the following targets: 91.46-92.29-93.849

NEWLY PUBLISHED COMMENTS: READ WHAT THEY’RE TALKING ABOUT...

Rinky Gautam said on Mar 24 2023
Awesome article and results are even more favorable.
Yash Sarwagi said on Mar 24 2023
Great catch!
Chirayu Lodha said on Mar 24 2023
I just wanted to let you know that I am now a premium subscriber and am already benefiting from the additional resources and features.
mohammad sahil said on Mar 24 2023
Your analysis has been extremely helpful, and I am definitely considering upgrading to a premium subscription to take advantage of all the additional benefits.
Prajakta Soni said on Mar 24 2023
I am very interested in purchasing a premium subscription based on the quality of the analysis you have provided. I believe it would be a wise investment for me.
Sanjana D Reddy said on Mar 24 2023
good pick.
Aashvi Laghari said on Mar 24 2023
Your analysis was excellent. Thank you!