TradeCentral_IN

TradeCentral_IN

TVC:DXY has been moving perfectly as per Elliott waves. It has completed an impulse and now in correction. It has already corrected near 50% which is also close to previous degree wave 4. Worst case we might do 61.8% around 107. Once we get a positive daily close from here, it would be reasonable to assume next impulse has started. What does this mean for...

TradeCentral_IN

NSE:NIFTY is forming a bearish wedge pattern. We might top out around 17900 and should start down from there. If the lower trendline convincingly breaks, we might be back at 17100/17200 levels soon.

TradeCentral_IN

BINANCE:BNBUSD formed a nice H&S (head and shoulder) formation, broke down and now retesting the neckline. Notice the decreasing volume on rise from beginning of August which shows weakness. Neckline around 288 seem like a good place to short and we might see 225 or lower levels in days to come.

TradeCentral_IN

Today played out as expected and we completed minor wave 3 and 4 possibly. We might be in minor wave 5 down which seem to be sub-dividing. Overall the larger wave 3 down should take us to 17100 and below, depending on whether and how much it extends. Today was a 250 points large down move so we might also get a sideways day tomorrow, but we should see 17100 and...

TradeCentral_IN

Here is daily chart of AUDUSD on 27th August. We seem to be in wave 3 down currently which should go around 0.67374 level before we have a bounce in wave 4. Overall, this impulse down might go near 0.66 levels in days to come.

TradeCentral_IN

From the 19th August top at 17992, Nifty has fallen in 5 waves impulse (1H) which suggests the short term trend is down. After completion of 5 waves down, Nifty rose in a corrective pattern (ABC) and stopped around 61.8% retracement which gives confidence that the rise is indeed corrective. From the C made on 25th August, Nifty seem to have started the 3rd wave...

TradeCentral_IN

NSE:NIFTY is near the trendline from the high made in October last year. Breakout point is around 17800 but it may turn out to be a false breakout, if that happens. RSI is high and when RSI breaks the trendline on closing basis, we might have a confirmed trend reversal which could last for sometime. Exiting longs above 17800 may be a good idea. Keep an eye!

TradeCentral_IN

NSE:NIFTY has formed a flag inside larger flag. Smaller flag is bullish and will come into play if we breakout above 15880 level and this breakout can take up near 16000/16100 level. And then the larger flag (bearish) would come into play. Reversal from that zone might take us to much lower levels below 15000. If we don't break out above smaller channel then...

TradeCentral_IN

Here is monthly chart of FTX:SOLUSD . It shows clear 5 wave impulse followed by ABC correction that is still not complete. Once we get a positive monthly close then we can expect the next 5 waves impulse on the upside that the size of it should be at least same as the upmove of previous 5 impulse waves (1-2-3-4-5). It's a wait and watch game from long term...

TradeCentral_IN

Today's upmove had the bears running helter-skelter, but the hourly chart shows negative divergence with RSI making a lower low while NSE:NIFTY made a higher high. Let's see how (and if) this divergence will play out next week.

TradeCentral_IN

TVC:DXY is showing divergence with RSI where DXY has made a higher high but RSI made a lower low on daily timeframe. Could this bring some breather for equities and commodities for few days? Lets wait and watch.

TradeCentral_IN

COINBASE:BTCUSD has broken down the H&S with a weekly close below the neckline. Next, it might find support at 200 daily/weekly averages but I won't be surprised if the price falls to $15k levels as per the height of H&S head.