BNBUSD (Binance Coin) formed a nice H&S (head and shoulder) formation, broke down and now retesting the neckline. Notice the decreasing volume on rise from beginning of August which shows weakness. Neckline around 288 seem like a good place to short and we might see 225 or lower levels in days to come.
Here is daily chart of AUDUSD on 27th August. We seem to be in wave 3 down currently which should go around 0.67374 level before we have a bounce in wave 4. Overall, this impulse down might go near 0.66 levels in days to come.
I have refrained to analyse Torum so far since it’s relatively new and for counting long/medium term Elliott Waves, there has to be enough (a few years) data. Today I was able to count a clear 5 wave impulse up in daily chart hence decided to give it a go. From July 13th, Torum went…
From the 19th August top at 17992, Nifty has fallen in 5 waves impulse (1H) which suggests the short term trend is down. After completion of 5 waves down, Nifty rose in a corrective pattern (ABC) and stopped around 61.8% retracement which gives confidence that the rise is indeed corrective. From the C made on…
BTC has broken down from a bearish channel/flag with good volumes. Minimum we’re looking at is around 20K (height of channel). Trading around $20750 as of writing this. However, if we consider the flag pattern then the downside would be much deeper, around $19K.
This is weekly chart of Bitcoin. From start of 2019, Bitcoin (BTC) has been in a clear 5 wave impulse which ended in September last year after seeing a peak price of $69K. Since then BTC has been in corrective mode. Earlier it looked like regular zigzag (ABC) correction and my assumption was that downside…