spacedevil

spacedevil

Market Structure Overview: Asset: XAU/USD (Gold/US Dollar) Timeframe: 2-hour chart Current Bias: Short-term bearish, aligning with a Wyckoff distribution and harmonic pattern setups, suggesting further downside pressure. Wyckoff Distribution: The left section of the chart shows a Wyckoff Distribution Phase, which typically indicates a transition from an uptrend to...

spacedevil Updated 

Key Events Influencing XAU/USD: US Economic Data (Retail Sales, Inflation): Strong Data: Supports a hawkish Federal Reserve stance, boosting the USD and putting downward pressure on gold. Weak Data: Reduces rate hike expectations, making non-yielding assets like gold more attractive. Federal Reserve Speeches (Kashkari, Waller, Daly, Goolsbee): Hawkish Remarks:...

01:00

spacedevil

Overview Market: NAS100 (NASDAQ 100 Index) Time Frame: 1-hour chart (indicated by the "1H" labels) Key Concepts: The chart incorporates Wyckoff methodology, harmonic patterns, and Fibonacci retracement levels. Key Components Market Phases: Phase A: Indicated at the bottom of the chart, represents the initial accumulation phase. Phase B: The current market phase...

spacedevil

BTCUSD – 2-Hour Chart Analysis (Oct 9, 2024): Anticipating a Bullish Reversal Overview of Current Market Structure The chart presents a harmonic pattern and Elliott Wave theory integration, showcasing key technical indicators for Bitcoin's price action over the next few days. Based on the structure, Bitcoin (BTCUSD) is currently trading at $62,175.77 and appears...

spacedevil

The GBP/JPY pair is expected to exhibit a bearish movement over the next 4 days, driven by: 1. Retracement pattern, indicating exhaustion of bullish momentum. 2. Bearish order blocks and supply zones, which may act as resistance points. 3. Fibonacci levels, particularly the 61.8% retracement level, signaling a potential price reversal. Short-Term Outlook *...

spacedevil

The analysis of XAU/USD suggests a bearish momentum over the next two weeks. Key insights include: The price is currently in a downward wave structure, indicating potential further declines. Significant Fibonacci retracement levels have been established as critical resistance points, with prices expected to struggle to move above these levels. Support is...

spacedevil

Current Phase: NAS100 is in Phase B of a Wyckoff distribution, indicating potential bearish continuation. Elliott Wave Structure: Completing Wave 5 of a corrective pattern. Key Resistance: Price likely to face resistance around 19,967 to 20,050 (Fibonacci levels). Key Support: 19,744.6 is a critical support level, with potential further decline to 19,663.2. Market...

spacedevil

233-Minute Chart: Larger Trend Outlook 1. Wyckoff Phases (A to C) The market is progressing through Phase B of a Wyckoff distribution pattern. Notable components of Phase B: Buying Climax (BC) indicates the peak of buyer exhaustion. Upthrust (UT) in Phase B suggests an overshoot in price before the market begins to decline. Sign of Weakness (SOW), which signals a...

spacedevil

Overview and Timeframes This analysis covers XAU/USD (Gold vs US Dollar) with a focus on two timeframes: a 4-hour chart and a 21-minute chart. Both timeframes indicate a bearish outlook for the next two weeks, as the price seems to be completing or approaching a downward Elliott Wave structure. This projection relies on the presence of multiple technical factors...

spacedevil

Technical Breakdown of the Analysis Wyckoff Phases & Distribution Phase B of the Wyckoff Method: This is a critical phase where the price makes a Secondary Test (ST), followed by an Upthrust (UT), indicating buyer exhaustion and distribution by smart money. Upthrust After Distribution (UTAD): The price has potentially completed a UTAD, signaling the completion...

01:44

spacedevil

In this detailed analysis of the XAU/USD (Gold/US Dollar) pair on both the monthly (M) and weekly (W) timeframes, we delve into potential price action scenarios for the upcoming two weeks. The market structure suggests we are entering a critical phase, characterized by multiple technical formations including Elliott Waves, Wyckoff phases, and liquidity...

spacedevil

Key Terminology & Concepts: Wyckoff Methodology (Phases A to C): The chart indicates an accumulation phase according to Wyckoff's theory, where smart money is accumulating positions before an uptrend. Key labels include AR (Automatic Rally), SC (Selling Climax), ST (Secondary Test), and LPS (Last Point of Support), marking potential points where institutional...

spacedevil

Elliott Wave Structure: The chart clearly displays a five-wave structure (labeled as (i), (ii), (iii), (iv), (v)) according to Elliott Wave theory, which implies a potential correction after a completed impulse wave. Current Position: The chart suggests that the price is completing a corrective structure in a Wave (ii) of a larger degree cycle, with the next...

spacedevil

Wyckoff Distribution Phases Phase A, B, C: Wyckoff distribution phases indicate a potential reversal from an uptrend to a downtrend, especially with the UTAD (Upthrust After Distribution) marking exhaustion. UTAD and UT: These indicate the last buying attempts before the market turns bearish, potentially signaling short entries. LPSY (Last Point of Supply): Final...

spacedevil

1. Wyckoff Accumulation Schematic (Phase B) Phase A: This is the initial phase where preliminary support (PS), selling climax (SC), and automatic rally (AR) occur. In your chart, this is indicated by the initial sharp drop followed by the first corrective move upwards (AR). Phase B: This is the phase of accumulation, where the smart money starts accumulating...

spacedevil

Overview The chart provided for the GBP/JPY currency pair on the 1-hour (1H) time frame incorporates a technical breakdown of price movements using Wyckoff Method, Elliott Wave Theory, Volume Profile, and macroeconomic indicators to outline expected market behavior for the coming week. The focus is on the ongoing distribution phase, indicating that a top has been...

spacedevil

I. Technical Analysis Breakdown 1. Elliott Wave Theory Wave Count Summary: The chart shows the completion of Wave 5 based on the hourly time frame, confirming a bearish setup. Key invalidation point: On the 1H chart: 19,571.1, meaning a break below this will confirm the extended Wave C. On the 4H chart: 20,335.3, confirming a potential reversal if this level...

spacedevil

The price range of interest is between $2,584 - $2,688, where key zones, patterns, and potential reversals are likely to occur. Wyckoff Distribution Phase: The chart follows the Wyckoff Distribution schematic, and it appears the market is in Phase B, nearing the Last Point of Supply (LPSY), where institutional traders distribute their positions. Preliminary...