As per the invalidation level specific in the previous update, counts I mentioned earlier are not valid anymore. Now I am recounting the waves from a new reference point, which is the swing high of 114.778, made on 28th September this year. We are still in corrective mode as per our previous updates but the…
Dollar index might be in late stage of correction. As per my current wave counts, we are in wave c of last corrective leg Z. W-X-Y-X-Z is a complete complex corrective structure in itself, but there could be corrections within corrections. Considering that, what we are taking as W-X-Y could be larger (W) and X-Z…
Dollar index has been in corrective mode after making the high of 114.77 last month. The fall from that high (marked as 1 in yellow – the second one) was clean abc which made me think that correction is over and we might start next impulse up. We did get some upside but in hindsight…
In daily chart, a clear 5 wave rise up is visible followed by clean zigzag correction. Cardano is just 1 point away from breaking the minor wave b high of 0.416 (touched 0.415 as on writing this). Once broken, we can fairly assume that next 5 wave rise up has started which should take us…
Crypto charts are always exciting to see. Never a dull moment 😇 Dogecoin has been in news due to Elon Musk’s acquisition of Twitter and implications of Dogecoin getting integrated with the platform. This has given a significant rise to Doge in past few days. In fact, it nearly doubled in a single day once…
Nasdaq is looking extreme bearish as per the weekly chart shown here. We can see a long term H&S formation since last 2 years and now Nasdaq seem to be on verge of breaking down from there. We don’t have a close below neckline yet but we can see that the right shoulder has fallen…
Gold made a double top as shown in the weekly chart followed by breakdown and retest of the support level. It is now trading below the support line which makes it look like a genuine double top so far. For the uninitiated, double tops are bearish reversal patterns and confirmed breakdown from such patterns can…
We got a positive close yesterday with which we should have completed Y leg of the correction. With that, WXY is done and now we have 2 alternatives. Wave 3 up starts from here itself. DXY keep going in corrective mode and does another 2 legs X and Z making it a complex W-X-Y-X-Z pattern….
There has been some new development in DXY chart hence sharing the revised view. What I initially thought is wave 2, which materialised as zigzag (abc) after the high of wave 1, seem to be turning into a complex correction (WXY so far). The initial ABC was possibly W followed by the leg up (X)…
Here is the monthly chart of EURUSD. From October 2008 high around 1.6, we have seen EURUSD fall in 5 waves down to 1.034 level in Jan/Feb 2017, followed by ABC correction which saw a high of around 1.25 in February/March 2018. Now, we seem to have started a fresh 5 leg impulse down after…