Is A New Bullish Cycle Starting in Dogecoin From June Low?
DOGEUSD promotes the currency as the “fun and friendly Internet currency”. Software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. Dogecoin had established a dedicated blog and forum, and its market value has reached US$8 million, once jumping to become the seventh largest electronic currency in the world.
Platinum (PL) continues to trade sideways and the metal is in the process of forming an important low before the next major bullish cycle starts. The Federal Reserve has aggressively hiked rates multiple times, creating a sideways to lower movement in the commodity sectors. There’s however no doubt that the longer term outlook of commodities is bullish. At this stage, there’s enough number of swing to call the daily and monthly correction completed. However, we still need more data and evidence to call the correction completed. In the meantime, we still give a possibility for the metal to extend lower until the market says otherwise. Below is the update of the Elliott Wave chart in Platinum.
Good day Traders and Investors. In today’s article, we will look at the past performance of 4 Hour Elliottwave chart of Nike Inc. ($NKE). The decline from 08.16.2022 high unfolded as 5 swings which created a bearish sequence in the 4H timeframe. Therefore, we knew that the structure in $NKE is incomplete to the downside & should see more weakness in 3 or 7 swings against 08.16.2022 peak. So, we advised members to sell the bounces in 3, 7, or 11 swings at the blue box area. We will explain the structure & forecast below:
Short term Elliott Wave view suggests correction from 9.28.2022 high ended at 109.53 as wave (4). Internal subdivision of wave (4) unfolded as a double three Elliott Wave structure. Down from 9.28.2022 high, wave W ended at 110.055 and wave X ended at 113.942. Index then resumes lower in wave Y to 109.53 and this completed wave (4) in higher degree. Dollar Index has turned higher in wave (5) but it still needs to break above previous peak on 9.28.2022 at 114.78 to rule out a double correction.
In this technical blog we’re going to take a look at some Elliott wave charts of yellow metal (Gold). Gold formed a high on October 4, 2022 (1729.46) and started declining. Decline took the form of an impulse, we will explain the internals of this impulsive decline, the bounce which we expected and current forecast.
In this technical blog, we will look at the past performance of 4-hour Elliott Wave Charts of META. In which, the decline from 21 July 2022 high unfolded as an impulse sequence and showed a lower low sequence within the bigger cycle from November 2021 peak. Therefore, we knew that the structure in Meta is incomplete to the downside & should see more weakness. So, we advised members to sell the bounces in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
Good day Traders and Investors. In today’s article, we will look at the past performance of Caterpillar Inc. ($CAT). In our last article we explained that the stock has reached the Blue Box area where a bounce can happen. This is how we saw it back in Sep 2022.
Gold and related miners continue to suffer a setback as the Fed continues its aggressive rate hike to combat inflation. However, there’s recent indication that the world’s central banks may reduce the pace of the hike due to the rising probability of a recession. In this update, we will look at the technical outlook in Gold Miners Junior (GDXJ). We will use Elliott Wave to do the analysis.
Hello fellow traders. As our members know, Amazon stock has completed 5 waves structure in the cycle from the 146.61. We were calling for a 3 waves bounce against the mentioned high after which we expected the price in stock to drop toward new lows. In previous blog on Amazon we shown how we called decline due to incomplete bearish sequences. In this technical article we’re going to take a quick look at the more recent Elliott Wave charts . We recommended members to avoid buying the stock and keep favoring the short side . Let’s take a look at the charts