SP500 Forecast – TRADE SETUP
SP500 is in a bullish cycle, and it is making higher highs. As the impulse wave is incomplete, we can enter the market at the end of wave 2 in the Minor degree (grey).
What to do?
The price is currently in the Inflection Zone (green area) created at the end of wave 2, and we expect the price will bounce within this area. Therefore, we are buying SP500 now with the stop loss below the 3,923 level and a target at the 4,401 level.
It is a 4:1 Reward vs. Risk trade,
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS HERE https://bit.ly/m/TRS
SP500 is in a bullish cycle, and it is making higher highs. As the impulse wave is incomplete, we can enter the market at the end of wave 2 in the Minor degree (grey).
What to do?
The price is currently in the Inflection Zone (green area) created at the end of wave 2, and we expect the price will bounce within this area. Therefore, we are buying SP500 now with the stop loss below the 3,923 level and a target at the 4,401 level.
It is a 4:1 Reward vs. Risk trade,
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS HERE https://bit.ly/m/TRS
Gold Forecast
Gold is in a bullish cycle, and we will look for long opportunities when we see a clear 3 legs-down corrective structure. Unfortunately, the connector (B) of the current (A)(B)(C) is too shallow and it does not retrace enough according to our strategy to allow us to enter when the price reaches the IZ (grey zone). We do expect the price will bounce from the IZ, but it can be only the connector from a deeper (W)(X)(Y), so we are not going to take this trade.
What to do? 2 scenarios:
-The prices resume the bullish cycle ->We should wait for the price to break the 1,960 level before looking for buying opportunities.
-The price makes a deeper correction-> A new IZ will be created, and we will analyze its structure to check whether it is tradable or not.
In any case, we will keep you updated on the TRS community
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS HERE https://bit.ly/m/TRS
Do you want the analysis, wave counts and trading strategies for more than 20+ assets daily?
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Gold is in a bullish cycle, and we will look for long opportunities when we see a clear 3 legs-down corrective structure. Unfortunately, the connector (B) of the current (A)(B)(C) is too shallow and it does not retrace enough according to our strategy to allow us to enter when the price reaches the IZ (grey zone). We do expect the price will bounce from the IZ, but it can be only the connector from a deeper (W)(X)(Y), so we are not going to take this trade.
What to do? 2 scenarios:
-The prices resume the bullish cycle ->We should wait for the price to break the 1,960 level before looking for buying opportunities.
-The price makes a deeper correction-> A new IZ will be created, and we will analyze its structure to check whether it is tradable or not.
In any case, we will keep you updated on the TRS community
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS HERE https://bit.ly/m/TRS
Do you want the analysis, wave counts and trading strategies for more than 20+ assets daily?
Check our website for more information about us: https://tradingtherightside.com
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Bitcoin Forecast
Technically the correction (II) in the super cycle degree (red) should have reached the 12,230 level to end the correction and start the new bullish cycle. However, the possibility that this will not happen is high as it seems that in Nov 2022 we ended this long corrective cycle.
Even though another push low is not 100% discarded, we forecast that the new bullish cycle is already in place. Therefore once we have a bullish sequence, we will be interested in buying BTC. This can happen this week. We will keep you updated.
In the alternative scenario where BTC makes another lower low, we would buy it if the price reaches the 12.3 k level.
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS IN BIO OR HERE https://bit.ly/m/TRS
Technically the correction (II) in the super cycle degree (red) should have reached the 12,230 level to end the correction and start the new bullish cycle. However, the possibility that this will not happen is high as it seems that in Nov 2022 we ended this long corrective cycle.
Even though another push low is not 100% discarded, we forecast that the new bullish cycle is already in place. Therefore once we have a bullish sequence, we will be interested in buying BTC. This can happen this week. We will keep you updated.
In the alternative scenario where BTC makes another lower low, we would buy it if the price reaches the 12.3 k level.
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS IN BIO OR HERE https://bit.ly/m/TRS
EURUSD Forecast
The correction EURUSD started in September 2022 is not over yet. We are forecasting that we only have finished the (A) from the (A)(B)(C) of the correction in the intermediate degree (blue) to end wave 4 (green). Therefore we still need to see the price making higher highs from the current position.
What to do?
We currently can not look to enter the market. We should be patient and wait for the price to break the 1.1033 level before looking for short-term buying opportunities.
Alternative scenario
We forecast that wave 4 in the primary degree (green) is not over yet. However, until the price does not break the 1.1033 level, we cannot discard the scenario where wave 4 is already over. If this is the case, the price will resume the downtrend directly, making lower lows.
As always, we will keep you updated
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS IN BIO OR HERE https://bit.ly/m/TRS
The correction EURUSD started in September 2022 is not over yet. We are forecasting that we only have finished the (A) from the (A)(B)(C) of the correction in the intermediate degree (blue) to end wave 4 (green). Therefore we still need to see the price making higher highs from the current position.
What to do?
We currently can not look to enter the market. We should be patient and wait for the price to break the 1.1033 level before looking for short-term buying opportunities.
Alternative scenario
We forecast that wave 4 in the primary degree (green) is not over yet. However, until the price does not break the 1.1033 level, we cannot discard the scenario where wave 4 is already over. If this is the case, the price will resume the downtrend directly, making lower lows.
As always, we will keep you updated
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS IN BIO OR HERE https://bit.ly/m/TRS
EURNZD overview
EURNZD is giving us signals that the correction (A)(B)(C) has ended. If the price breaks the trendline, we will consider the next motive wave is in place, and this motive wave should reach at least the 1.62 level
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS IN BIO OR HERE https://bit.ly/m/TRS
EURNZD is giving us signals that the correction (A)(B)(C) has ended. If the price breaks the trendline, we will consider the next motive wave is in place, and this motive wave should reach at least the 1.62 level
Please remember to do not to risk more than 2% of your account on each trading idea
ALL OUR LINKS IN BIO OR HERE https://bit.ly/m/TRS
Ethereum Overview
Ethereum is inside a motive wave. Currently, ETH is doing wave 2 of the minor degree (grey), and we are interested in buying if the price reaches the IZ (green-shaped area) without breaking the trendline.
From the IZ we expect the price will bounce. If the trendline is not respected, we will cancel the trade idea, and the analysis will be adjusted
Please remember to do not to risk more than 2% of your account on each trading idea
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Ethereum is inside a motive wave. Currently, ETH is doing wave 2 of the minor degree (grey), and we are interested in buying if the price reaches the IZ (green-shaped area) without breaking the trendline.
From the IZ we expect the price will bounce. If the trendline is not respected, we will cancel the trade idea, and the analysis will be adjusted
Please remember to do not to risk more than 2% of your account on each trading idea
Join our 10 day FREE trial of our community with daily reports covering more than 20 assets and its Elliott wave counts and analysis!! No credit card is required.
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ALL OUR LINKS IN BIO OR HERE https://bit.ly/m/TRS
AUDUSD overview
AUDUSD is giving us signals that the correction (B) is close to end. It has reached the Inflection Zone already. We believe the price can make another marginal low whiting this IZ before breaking the trendline, which will confirm the (B) has ended and it will give us a trade opportunity
Please remember to do not to risk more than 2% of your account on each trading idea
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AUDUSD is giving us signals that the correction (B) is close to end. It has reached the Inflection Zone already. We believe the price can make another marginal low whiting this IZ before breaking the trendline, which will confirm the (B) has ended and it will give us a trade opportunity
Please remember to do not to risk more than 2% of your account on each trading idea
10 day FREE trial of our community with daily reports covering more than 20 assets and its Elliott wave counts and analysis!! No credit card is required.
https://members.tradingtherightside.com/communityplans
ALL OUR LINKS IN BIO OR HERE https://bit.ly/m/TRS
AUDJPY overview
AUDJPY has broken the low created in December last year, which confirms that the most probable path is continuing the bearish corrective cycle WXY until reaching at least 81.455. This fact opens us the opportunity to look for shorting opportunities until we reach that level.
We will not blindly enter to sell AUDJPY in any case. Only if we see clearly a corrective structure we identify and it provides us with a good Inflection Zone, we are going to sell it with a very high probability of having a profitable trade.
AUDJPY is an asset to monitor, and we will keep you updated if the selling opportunity appears
AUDJPY has broken the low created in December last year, which confirms that the most probable path is continuing the bearish corrective cycle WXY until reaching at least 81.455. This fact opens us the opportunity to look for shorting opportunities until we reach that level.
We will not blindly enter to sell AUDJPY in any case. Only if we see clearly a corrective structure we identify and it provides us with a good Inflection Zone, we are going to sell it with a very high probability of having a profitable trade.
AUDJPY is an asset to monitor, and we will keep you updated if the selling opportunity appears
SP500 – Follow up
After the FED announcement yesterday, the price reached the IZ (green area). As expected, the price bounced from this zone, and SP500 started the next bearish motive wave.
Our forecast has not changed. As soon as the price breaks the 3,762 level , we will be looking for short-term selling opportunities. We will confirm this view when the price breaks the trendline created by the correction. We will keep you posted.
Inflection Zones – the green areas- work very well, and the price bounce when it reaches these zones because we have a confluence of signals within this zone. Elliot wave gives us the rules to increase our probabilities of a winning trade.
After the FED announcement yesterday, the price reached the IZ (green area). As expected, the price bounced from this zone, and SP500 started the next bearish motive wave.
Our forecast has not changed. As soon as the price breaks the 3,762 level , we will be looking for short-term selling opportunities. We will confirm this view when the price breaks the trendline created by the correction. We will keep you posted.
Inflection Zones – the green areas- work very well, and the price bounce when it reaches these zones because we have a confluence of signals within this zone. Elliot wave gives us the rules to increase our probabilities of a winning trade.