Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT ________
I encourage you to read first the previous technical analysis in the related ideas specially on Weekly and Monthly time frame. ________
Technical Analysis
1M I’m still uncertain if it can break MA 200. If that happens, then most likely favorable to cryptocurrencies and stocks. I think, I will focus on from Weekly to 1 Hour. Just read my previous TA on this time frame in the related ideas.
1W Confirmed: 1. Hidden Bullish Divergence on RSI, Stoch RSI & MACD; 2. Bullish Crossover on Stoch RSI & MACD. Probably this one is for real not a false signal; and 3. MACD Histogram fires first buying momentum in favor of US Dollar Index Bulls. Unconfirmed 1. The US Dollar Index is trying to break above EMA 9 (Green). The more it tests, the higher probability of breaking above EMA 9 and closed above it; 2. Probably in the next days or weeks may test EMA 21 (Violet) & EMA 34 (Dark Orange); 3. Stoch RSI has not yet reached 50 level (If it reached, it’s confirmed); 4. RSI has not yet reached 50 level (If it closed, it’s confirmed); and 5. MACD has not yet cross the zero line (If it crossed and closed, it’s confirmed).
1D Confirmed: 1. Bullish Convergence on RSI, Stoch RSI & MACD; 2. RSI is now above 50 level and currently holding as support; 3. Stoch RSI is now above 50 level and has bullish crossover; 4. MACD has bullish crossover; and 5. DXY is now above EMA 9 (Green) on daily. Unconfirmed 1. There is no bullish crossover yet between EMA 9 and MA 50 (Orange); 2. Currently, MA 50 is acting as a strong resistance to move up; and 3. MACD has not yet crossed the zero line into positive zone.
4HR Confirmed: 1. Moving Averages is acting as a support for a potential upside; 2. RSI is holding above 50 level; 3. Stoch RSI is declining but US Dollar Index is moving up. It’s bullish; Unconfirmed 1. Potential bullish divergence on RSI, Stoch RSI & MACD; and 2. Stoch RSI & MACD has not yet bullish crossover.
1HR Bearish Convergence on RSI, Stoch RSI & MACD. Possibly move down first to moving averages, then move up after.
Elliot Wave Counts for Weekly and Monthly
Elliot Wave Counts for 1D, 4HR and 1HR _______
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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