Did you trade NSE Nifty’s Elliott wave setup?
Click here: NSE NIFTY – Are Bulls sure about Their Strength?
BEFORE
We had written in clear words, “If the price breaks out of wave B, traders can trade for the 21856 – 21955 – 22100+.”
AFTER
Part 1 – Monthly Examination of EUR/USD Utilizing Varied Approaches
Price action Breakdown Analysis:
It is the EURUSD monthly timeframe, and it shows a downtrend for more than 15 years. The price has settled in a downward value area.
Elements of price action Breakdown:
- Excess:
There are nine price excesses, four on the upper band and five on the lower band. It shows that the sellers were too aggressive when the price touched the upper band of the channel in comparison with the lower band at buyers. Buyers/Bulls tries makes the initiative to breakout the structure but end up when another party finds the price convenient for them. - Control line:
The control line represents the gravitational force to the price. The price can’t stay away until it breaks the range. There are twelve touches on the control line, and few are mentioned on the chart.
- No Trading Activity Zone:
No trading activity is the zone where one party, either bull or bear, takes control and outnumbers the other. There are a total of 14 no-trading activities zone. Both of the participants have seen each other. - Sub-value area:
A rectangle sub-value area has taken place from March 2015 till now. An excess became a great place to buy the move, yet the upper band of the sub-value area provides strong resistance. The control line of this value area at 1.1480 is sharp enough to act as a pivot level. It could be a resistance to the current price.
Continue readingNASDAQ AMAZON – Wave Strength Analysis On Daily Chart
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 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 is a zigzag formation and can be mentioned as a triangle by changing the labels.
- Wave (4) retraced 50% of wave (3).
- 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.
NSE NIFTY – Are Bulls sure about Their Strength?
Trade setup – NSE ADANIPORTS & BANKNIFTY
Gold & Aluminum Updates: Hits Target Prices Swiftly
Did you check out yesterday’s newsletter about gold?
If not, you can read it here: Gold Price Analysis – Key Levels and Targets for Intraday Traders
Highlighted in bold yesterday, we emphasized, “Finding a foothold at 61960, MCX Gold prices hinge on a crucial juncture. A crossover and break today could lead to target prices of 61860, 61760, and 61560.”
Gold successfully achieved all target prices within a single trading session.
Reminder to our premium subscribers: Aluminum Report – it’s on the verge of hitting our first target.Continue reading