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…
From the December 2018 lows around 3k, BTC rose in 5 waves impulse advance followed by complex correction W-X-Y-X-Z. Right now, we seem to be in last leg (Z) which so far is looking like a zigzag (a-b-c). Legs a and b of Z seem to be done and we are now in last wave…
Update [20th October]: Finally, we got a positive close yesterday. Even though DXY didn’t close position day before yesterday, our level for minor wave iii remains in same zone (~115.700) since wave ii didn’t move much from when we estimated the size of wave iii. Wave iii would likely put equities and other asset classes…
JPASSOCIAT has broken out from a falling wedge with good volumes. Falling wedges are typically bullish in nature and this wedge has been in formation since more than an year now. Longer the timeframe, larger the moves. There might be pullbacks but if we go by classic TA the size of this move that has…