Greetings fellow traders! All the major targets marked in the previous idea have been achieved. https://www.tradingview.com/chart/AUDUSD/QyWBRGqj-All-we-need-is-just-one-concept-AUDUSD-bearish/ The new plan for now is observing what the market does. We do have a bullish Purge and Revert in progress in AUDUSD on the daily. Long till 0.64700. Apart from that, we also have a daily volume imbalance which would draw price towards it. Attaching the daily chart for reference. https://www.tradingview.com/x/Z0BD4w1H/ Have an insightful trading week ahead! Disclaimer- All content is for educational purposes only and not trading advice.
TOTAL Its worth noting here that the market bounce has arrived to the retracement Golden Window. It may well be fine and continue to drift or move up. But if we were to see some significant bearish whipsaw here then that may be a signal that a third wave down may print to complete a 3 wave correction. I'm not saying this will happen but if we see that whipsaw then this perspective is on the table. If this did happen then there would be further altcoin dump action ?. Note that this is not a short call but a warning for now... There is a TradingView glitch on hour based charts, but on day based and above the 1.618 has been hit. Not advice
Rally into inauguration and pro crypto policies coming into effect, sell off into tax season/summer doldrums, top callers take victory laps, ~100K holds support and we rally through the expanding funnel into year end. Price TBD but north of 500K likely. Lets see how this ages. gl
Well, now that Australian unemployment surprisingly dropped it gave the central bank’s hold-steady stance on rates some creedence. With Aussie sitting in the lower portion of ranges (E.G. here with AUDCHF)I like buying and holding the asset for longer time horizons. Small sizes, and take profits at levels, like the 200 MA, and jumping back in on pullbacks.
The price has hit the top of the rising wedge and a trendline that starts from March 2022 top (top of a big orange channel). There is also a solid bear divegence on 4H and even a tiny bear divergence on 1D tf. I expect a pullback from here, but I'm not sure if it will be a reversal or we will see a new ATH soon. Need help of elliotitians, I can't count these damn waves.
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It is great that NASDAQ:NVDA held above 133.91 and rise for today. For days NASDAQ:NVDA has been beaten up and now per the diagram below if we break out of the areas of 140.30 tomorrow and 146.62. We will then see breakout to getting above ATH. The daily trend pattern that I've created for the next couple of days will need to see where "c" will form above or below direction. Have to see other Semiconductor sectors of the following this week. 1) Thursday, Dec 13th after market close NASDAQ:AVGO will have earnings. In my opinion if the market sees their earnings results as positive in terms of direction and demand of Semiconductors then expects for this sector and NASDAQ:NVDA to either trend higher or drop down. 2) NASDAQ:SMH is now getting back to its range of 247.00. We need to see if this holds and break above its range of 248.39. If we see 248.39 then expect its next resistance of 252.17. For those who are impatient with this stock. Be calm, wait and see this price movement break out of a direction and make sure you have months of time to see your trades play out. Stick to your price targets of risk/reward/stop out. In my opinion this is a LEAP/buying shares long term play in order to wait out this support and resistance trend for over 1 month. Have to see if this years Santa rally and early Jan 2025 will see this stock at new levels or continue to break down below 129.00 and its many supports.
EURUSD Premarket analysis Price has been taking the sell side. Price is in a discount on the previous day and the weeks range. It seems likely for price to take the buy side inefficiencies and noted equal highs. 8 NY hour will be full of action. Stay to the side lines and catch a trade after the dust settles.
TOTAL 3 Update If the capitalization of the total of these 3 is successfully penetrated,. AltCoin season is about to get crazier than ever.
We been getting nice trend action from Gold all week so far and I expect it to continue. Likely we will catch a entry for it to container during Asian range. Being patient and waiting for Killzones for the best possible entry.