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CADCHF: Bullish Setup After WXY CompletionCADCHF has likely finished its correction phase (called a W-X-Y in Elliott Wave), which basically means the market has already gone through a messy sideways/down move and may now be ready to trend. Price recently dipped below support (a fake breakdown) and quickly reacted, suggesting sellers are losing control. Right now, the market is trying to form the first move up (Wave 1), but it’s not confirmed yet. For real strength, currency needs to break and hold above the marked resistance level. Breakout above wave B will confirm the bullish cycle. Bullish targets are 0.5148 - 0.5751+ . We can extend the targets after the breakout of wave X. We will update with further information soon. By @BrightRally_Research
Long
by BrightRally_Research
2
No Clear Signal That Bitcoin Has Finished Dropping!BTCUSD on the weekly timeframe appears to have completed a 5-wave impulse at the top, and is now moving into an ABC corrective phase. Wave A seems to be already in place, and BTC is currently trying to bounce into wave B. However, this bounce looks more corrective in nature rather than impulsive, so it’s not strong enough yet to signal the start of a new uptrend. The broader structure still points toward the possibility of a deeper pullback. The key level to keep an eye on is around 60,000 , which lines up with the 200 EMA and could act as support. A short-term reaction or bounce from this area is possible, potentially forming wave B. That said, unless Bitcoin manages to break above and sustain itself beyond the marked resistance zone, this move should be viewed as a relief rally rather than a true reversal. Once wave B is complete, another move lower (wave C) is likely. This could take BTC down into the 50,000 - 52,000 range before the correction fully plays out. A strong breakout above the wave B resistance level would invalidate this bearish outlook and suggest a shift back toward bullish momentum. We will update with further information soon. By @BrightRally_Research
CRYPTO:BTCUSD
by BrightRally_Research
1
Is Gold Headed Toward 4000 or Even Lower Before Reversal?In the previous article, we were expecting a temporary bounce within a broader bearish structure, not a full trend reversal. Check here: Price action is still consistent with that bearish view, but the slope suggests we are still in Wave 3. XAUUSD may form wicks near the lower band of the parallel channel. Wave X has reached wave equality (100% of Wave A). It's possible to see 4000 – 3950 or lower before a reversal. Wave 4 may occur with minimal retracement, as the slope is very strong. Bulls should not act hastily without confirmation, as we don't know how large the wicks in gold can be. The first confirmation of the participation will be the breakout of wave (A) low. By @brightrally_research
PEPPERSTONE:XAUUSD
by BrightRally_Research
5
Warning: NIFTY May Not Have Bottomed YetElliott Wave Overview: NIFTY 50 (spot) is currently forming a corrective structure. There are multiple valid ways to label this chart, but this count is selected based on Elliott Wave alternation guidelines. Corrective structure is a normal flat. The index appears to have completed wave (X) at 26323.20, and wave (Y) is now unfolding. So far, wave (Y) has retraced approximately 78.6%, while a typical flat correction often extends toward 100% retracement of wave (A). At present, the market seems to be progressing within wave (iii) of the larger decline, with its sub-waves already in motion. A key level to watch is 21858.7 , where: Wave (Y) = Wave (W) (price equality) This level may act as a potential demand zone. Wave scenarios: Once wave (iii) is complete, a wave (iv) bounce is expected. This wave (iv) is likely to be choppy, time-consuming, and lacking strong momentum. After this corrective phase, the market is expected to resume its decline, forming wave (v) and completing the larger wave (Y). From a bullish perspective, if the index convincingly breaks above the wave (iv) structure, it could signal the first signs of strength from the bulls. In that case, a base formation may develop, with potential upside extending toward wave B levels. However, it is important to note that even after the completion of wave (v), any bounce may remain limited in strength, especially if wave (iii) is still extending and has not fully completed yet. By @BrightRally_Research This is not financial advice. Always manage your risk.
NSE:NIFTY
by BrightRally_Research
Gold's Final Shakeout Is ComingEWT: DAILY TF Gold hit a peak of $5419 in early March and has been falling since then. Right now, XAUUSD is trying to move up slightly, but it looks more like a temporary bounce than a real recovery. Gold is forming a flat formation. Waves 1 through 4 have already played out, and the market now appears to be setting up for the final move: Wave 5 to the downside. After Wave 5 is complete, XAUUSD is likely to start moving upward. Immediate Resistance: 4800 Immediate Support: 4500 A breakout of the channel with strong volume could bring buyers into the market. Until then, price is likely to move lower toward the Wave (A) level. Global Sentiment: The overall market mood is cautious. A strong US dollar, rising interest rates, and higher oil prices are putting pressure on gold. News like war or tensions can push gold up for a short time, but for now, the upside looks limited unless something big changes in the market. By @BrightRally_Research
PEPPERSTONE:XAUUSD
by BrightRally_Research
2
Forex Basics Every Beginners Must Know!What is forex? Forex (Foreign Exchange) is the global market where people buy and sell different currencies to make a profit. It is the largest financial market in the world, where currencies from different countries are traded with each other. Every Forex trade involves two currencies. For example: EUR/USD, USD/INR, GBPJPY, USD/ZAR, etc. But why? You are buying one currency and paying in the second currency. In EUR/USD, you are buying EUR and paying with USD. In other words, EUR/USD shows how many US dollars are needed to buy 1 Euro. Forex pairs show how much of one currency is needed to buy another currency. Base Currency & Quote currency: 1. Base Currency: The first currency in the pair is called the base currency. It is the currency you are buying or selling. 2. Quote Currency: The second currency in the pair is called the quote currency. It shows how much of that currency is needed to buy one unit of the base currency. Q: What if I am selling EUR/USD? If you sell EUR/USD, it means you are selling Euros (EUR) and buying US Dollars (USD). It means you believe that the Euro will become weaker compared to the US Dollar. Currency Classes in Forex In Forex, currency pairs are generally divided into three classes based on trading volume and popularity. 1. Major Currency Pairs Major pairs are the most traded currency pairs in the world, and they always include the US Dollar (USD). 2. Minor Currency Pairs (Cross Pairs) Minor pairs are currency pairs that do not include the US Dollar. 3. Exotic Currency Pairs Exotic pairs include one major currency and one currency from a developing country. Quick Comparison: Important Topic: 1. What is Spread? - It is the difference between the buy price and the sell price. Let’s take a random currency example: Suppose, Buy price is 1.1002, and Sell price is 1.1000 Spread = 2 pips 2. What is pip? A pip is the smallest standard price movement in a Forex currency pair. Think of it like a unit used to measure price movement. For Most currency pairs: 1 pip = the 4th number after the decimal For example, the price of GBP/USD is 1.2745. The price of GBP/USD is 1.2745. If the price moves to 1.2746, this change is called a 1 pip move. 1.2745 to 1.2750 = 5 pip 1.2745 to 1.2760 = 15 pip For JPY Pairs: 1 pip = 2nd decimal place is the pip For example. The price of USD/JPY is 158.43. If the price moves to 158.50, this change is called a 7 pip move. What is the lot size? In Forex trading, you don’t buy or sell just one unit of a currency, such as $1 or €1. Instead, currencies are traded in standardized amounts called lots, which represent batches or blocks of currency. What is leverage? Leverage in Forex trading allows traders to control a larger position with a smaller amount of money. In simple terms, leverage means borrowing money from your broker to trade a bigger amount than what you actually have in your account. Imagine you have $100 in your trading account. If your broker provides 1:100 leverage, it means you can open a trade that is 100 times larger than the money you actually have. So with $100, you are able to control a position worth $10,000 in the market. In other words, leverage allows you to trade a much larger amount of currency than your account balance alone would normally allow. Common Leverage Ratios: 1:10 → $1 controls $10 1:50 → $1 controls $50 1:100 → $1 controls $100 1:500 → $1 controls $500 That’s it. This series will continue with the upcoming parts. This post took a lot of effort to make Forex concepts simple with visuals and examples. If you found it helpful, please boost or share it for better reach. As this is our first post, the design may not be perfect. We appreciate your support.
Education
by BrightRally_Research