Short Term Elliott Wave view in Netflix ticker symbol: NASDAQ:NFLX suggests that rally from 8.05.2024 low is incomplete & should continue upside. It is showing 3 swing higher since August-2024 low & expect more upside against 11.18.2024 low. It ended 1 at $736 high as diagonal & 2 correction at $669 low. Within 1, it placed ((i)) at $711.33 high, ((ii)) at $660.80 low & ((iii)) at $728 high. Wave ((iv)) ended at $696.43 low & finally ((v)) ended at $736 high as wave 1. Within 2 correction, it placed ((a)) at $699.78 low, ((b)) at $710.24 high & ((c)) at $669 low near 50% Fibonacci retracement of 1. Above 2 low, it favors upside in wave 3 in another 5 waves impulse sequence. Whereas wave ((i)) ended at $773 high, wave ((ii)) ended at $744.26 low. Wave ((iii)) ended at $841 high, wave ((iv)) ended at $804.30 low and wave ((v)) at $941.75 high. Below from there, the stock made a pullback in wave 4 to correct the cycle from 10.17.2024 low. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) ended at $909.61 low in a lesser degree 3 waves. A bounce to $928.94 high ended wave ((x)) and started the ((y)) leg lower towards $896.73- $876.79 blue box area where buyers were expected to appear. Since then the stock has reacted higher from the blue box area allowed longs to get into a risk free position. Therefore ended wave 4 pullback at $881.01 within the blue box area. Near-term, as far as dips remain above $881.01 low and more importantly above $804.46 low the stock is expected to resume the upside in wave 5. For minimum extension target towards $956.38- $979.68 area higher (inverse 123.6%- 161.8% Fib extension of wave 4). Before ending the cycle from 8.05.2024 low in 5 waves advance & making a pullback.
In the short term, it is circulating in these two areas. If the red box breaks, it can go again to touch the remaining areas in the medium term. If it fails, we will return to the blue line.
In the early Asian session on Tuesday, the EUR/USD exchange rate has been trading with small losses near 1.04000. This is due to expectations that the US Federal Reserve (Fed) will cut rates less frequently in 2025, which is providing some support to the dollar. Trading volumes are likely to be low ahead of the holiday trading week. The resumption of the Fed's 'raise rates longer' policy will be a key factor in the final trading days of the year, which could provide significant upside for the US Dollar (USD).Last week, the U.S. central bank cut the benchmark interest rate by another quarter point, as per the latest quarterly schedule. The Fed committee has revised its expectations for rate cuts in 2025 and beyond. The Fed now forecasts a rate cut of just 50 basis points (bps), or two rate cuts, compared to four quarter-point cuts.Across the pond, the euro (EUR) is weakening amid rising bets for further rate cuts by the European Central Bank (ECB).ECB President Christine Lagarde said on Monday that the Eurozone is "very close" to meeting the medium-term inflation target set by the ECB, according to the Financial Times on Monday. She also stated that the central bank would consider further cuts to interest rates if inflation continues to fall towards the 2 percent target, as curbing growth is no longer necessary. Trading recommendation: We follow the level of 1.04000, when fixing above it we consider Buy positions, when rebounding we consider Sell positions.
?Hello Traders, Our ?️ AI system detected that there is an D1 timeframe ICT Short setup in BTCUSDT for Swing trade. Technically it is clearly that a double top formation and a LG at second top. Our idea: BTCUSDT is going to the extension target to the demand zone marked on the chart. May be a possibility back to the FVG before further down. So we only waiting for Short setup for swing trade and day trade in the coming 2 weeks. For more ideas, you are welcome to visit our profile in tradingview. Have a good day! Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
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