MoneyEngineer

MoneyEngineer

Last week, I took a long position on NZD/USD, anticipating a bullish outcome based on both fundamental and technical analysis. Fundamentally, the pair showed a +5 COT score on the A1 Edgefinder, indicating a bullish sentiment. On the technical side, both the daily and 1-hour charts displayed a bullish trend, with the EMAs pointing upwards. A pullback presented a...

MoneyEngineer

A powerful entry strategy that can make you rich in three steps. Step 1: Identify support/ resistance zones & apply the 21 EMA on the 15min/ 1min time frame. Only take trades in the direction of the 15min chart EMA. Step 2: Monitor your entry time frame and wait for a pullback to the 21 EMA that creates hidden divergence on the RSI (6) , enter with momentum in...

MoneyEngineer

From the 2008 market crash we can observe a complete 5 wave impulse with clear fractals, the Covid crash was only the wave C in the Flat correction. From that low we have had a massive rally and it does not look done yet! Very good short term buy setups on the 10min time frame. I feel the patterns on this index are more clear and create better stop loss ranges...

MoneyEngineer

Very decent short trade on gbp/cad, showing off the traditional chart patterns.

MoneyEngineer

Coming off the 2008 crash we had an expanded flat, that started this cycle wave 3. Wave 1 vs. 3's first and most probable extension is the 1.618%. We are nearing it, and we can clearly define the sub moves of the lower degree waves. We are at a deciding point now, but in either case it'll be more upside soon enough.

MoneyEngineer

I believe later we could see a move that extends to the 1.618% extension of the prior impulse. Very nice buy setup to finish out the week. Good luck guys.

MoneyEngineer

On the higher time frames it seems the pattern would correct more, but ill jump in now if it confirms an entry i can breakeven.

MoneyEngineer

The pattern eur/usd has been in is a ending diagonal in Elliott Wave, this pattern is terminal and usually ends with a violent reversal. We have seen quite a clean impulse at the bottom, and the pattern that preceded that is a clear double zigzag. If price starts to break above the sub (B) i will be interested to buy.

MoneyEngineer

Left hand count: This is a bullish count and if so we should expect quite the rally today. Wave C is usually the strongest wave in a flat. Right hand count: This is a bearish count. If the bulls do not materialize, we can expect a zig zag correction followed by a sharp drop down to break the recent lows. Gameplan: Elliott Wave has shown us what is possible,...

MoneyEngineer

The count has evolved a bit, the current move is a bigger flat than originally counted. So I will look for a bullish impulse and flag at the area of interest, there is also the possibility that it just keeps dropping. But in the moment I think this correction might get more complex. Good luck guys!

MoneyEngineer

I still believe this move to be corrective, but none the less very large moves. So for today i am forecasting that we are seeing a bull flag and it should rally 500 points after this correction. Similar move to what we saw yesterday.

MoneyEngineer Updated 

On the left hand side you can observe on the hourly time frame divergence from the last impulse wave up. In Elliott Wave it is a rule that if wave 5 is complete there has to be momentum divergence, so i can hope for a more significant correction for the best entry possible. Or it could extend the overall impulse before having a significant correction. But a very...

MoneyEngineer

Left hand count: That massive drop has changed things pretty significantly, at this point I have to forecast that the recent impulse up was actually wave 5 and not the start of a cycle wave # primary. I will be looking for a correction then one more down before the bulls come back in. Right hand count: This idea has more merit now, and this is the count of...

MoneyEngineer

Since we have had big moves I think it is time we discuss the primary forecast for the DOW. Left Hand Count: This is a bullish count, where I am forecasting a correction that is currently unfolding before we go bull again. You never are certain of where you are in a cycle, so it is important to just take it one impulse at a time. This correction needs to consume...

MoneyEngineer

*A lot has unfolded since the previous update, I am choosing to update the Dow maybe every other day or when something new unfolds so this does not become too repetitive. Left hand count: So it is very safe to assume that this impulse up is complete, now we come back to looking for a long term investment opportunity. In Elliott Wave the corrections take much...

MoneyEngineer

Left hand count: In this idea the correction is viewed as complete, it is a double flat correction characterized as a double combination (WXY). I will be looking to see how the market opens, I think that will gives us clarity. Right hand count: In this idea it is a regular flat, and we are in sub four of wave C and expecting a short drop for wave 5 before we get...

MoneyEngineer

So we now have clarity, and it is for sure not a triangle. I do not have a alternate forecast this soon because the pattern is a confirmed regular flat, 1 more quick drop and we are going to be very bullish. Do not miss the trade!

MoneyEngineer

The pattern that has corrected bitcoin is a Regular Flat, there is a classic bullish reaction coming off of a text book pattern. Could be a nice buy opportunity.