Image by  from Elliott Wave Analysis TradingLounge Daily ChartXRP/ U.S. dollar(XRPUSD)XRPUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Flatposition: Wave ((B))Direction Next higher Degrees: wave IVWave Cancel invalid level: XRP/ U.S. dollar(XRPUSD)Trading Strategy:XRPUSD is in a wave II structure, which is a corrective wave. After the end of wave I, wave II is expected to form a corrective ABC structure. Currently, the price is in the sub-wave b of this structure. After the end of wave b, the price is expected to correct down to the end of wave c of wave II.Trading strategies* Buy Strategy (Long Position):   * Wait for the price to adjust down to the support zone of 1.8936 – 1.5370 and look for an opportunity to open a buy position.* Risk Management:   * Set Stop Loss below 1.5000 level. Elliott Wave Analysis TradingLounge 4hr ChartXRP/ U.S. dollar(XRPUSD)XRPUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: Impulseposition: Wave ((3))Direction Next higher Degrees: wave aWave Cancel invalid level:Details: The current structure of XRPUSD shows a downward correction in Corrective Wave (a), which still has a chance to move down further. XRP/ U.S. dollar(XRPUSD)Trading Strategy:XRPUSD is in a wave II structure, which is a corrective wave. After the end of wave I, wave II is expected to form a corrective ABC structure. Currently, the price is in the sub-wave b of this structure. After the end of wave b, the price is expected to correct down to the end of wave c of wave II.Trading strategies* Buy Strategy (Long Position):   * Wait for the price to adjust down to […]

Image Source: We had been on the trajectory for a rather uneventful day, upended temporarily by no real news but that which send market indexes into the red. The Nasdaq and S&P 500 bounced back and finished in the green for the session — +0.51% and +0.36%, respectively — while the Dow lost -0.28% and the small-cap Russell 2000 was down -0.45% at the close.Thus, it was a pretty flat day overall, as we’ve seen more or less for the past couple weeks. With so many changes coming on a seemingly hourly basis — not only from economic prints and earnings results, but from the White House with its litany of headline generation — market behavior looks to be a bit tame, especially at historically high valuations. Q4 Results Send Stocks in Different Directions: AMZN, SKX, EXPE  The big “Mag 7” company reporting this afternoon is Amazon ( – ), which beat solidly on the bottom line — earnings or $1.86 per share versus estimates of $1.52 — and more tepidly on the top: revenues of $187.8 billion surpassed the $187.28 billion expected. North America sales grew +10% and +9% Internationally; its Retail space (Whole Foods) gained +8% in the quarter.Amazon’s growth engine, however, is its cloud-based Amazon Web Services (AWS), which grew +19% year over year. Ads gained +18% and Subscriptions were up +10%. Shares are selling the news in the after-market, however, after gaining nearly +9% year to date for the Zacks Rank #2 (Buy)-rated giant.Skechers ( – ) stock is plummeting -13% after its Q4 […]

Image Source: Here are a couple of precious metals miners I’ve mentioned in the past which look better than ever.Spotify’s Success StoryGap FillersWithering Away

Image Source:  Are you seeing this range rotation?  This bullish range gives us (2) ways to make money – bear traps and breakoutsI have (3) Bear Traps on my radar for tomorrow…But if we’re lucky, we’ll get this Breakout Pullback because it could be EASY MONEY to finish the week! E-Mini S&P (ES):   Emini is bullish with a breakout above the range from earlier this week, telling me to look for ways to buy a breakout pullback tomorrow morning! E-Mini Nasdaq (NQ):   Nasdaq is bullish and grinding higher, telling me to look for bear trap buying opportunities off the low the channel tomorrow morning! Video Length: 00:29:01This Stacked Range Strategy Could Be Easy Money This Slingshot Reversal Could Be Another Big Payday These Tariff Trades Could Make Us A Fortune On Friday

Image Source:  The Australian Dollar could depreciate due to market caution ahead of US Nonfarm Payrolls release on Thursday. The AUD receives downward pressure from increased risk aversion amid the US-China trade situation. US Initial Jobless Claims rose to 219K the previous week, against the expected 213K and 208K prior. The Australian Dollar (AUD) remains weak against the US Dollar (USD) for the second consecutive day on Friday. The AUD/USD pair faces additional downward pressure due to risk-off sentiment fueled by escalating US-China trade tensions.China, Australia’s key trading partner, retaliated against the new 10% US tariff that took effect on Tuesday. However, on Monday afternoon, US President Donald Trump stated that he would likely speak with China within 24 hours. Trump also warned, “If we can’t reach a deal with China, the tariffs will be very, very substantial.” Despite this, no further updates have emerged.Markets now price a 95% probability of a Reserve Bank of Australia (RBA) rate cut from 4.35% to 4.10% in February, further weakening the AUD’s resilience. The RBA has kept the Official Cash Rate (OCR) at 4.35% since November 2023, emphasizing that inflation must “sustainably” return to its 2%-3% target range before considering any policy easing. Australian Dollar could decline amid market caution ahead of US jobs report   The US Dollar Index (DXY), which measures the US Dollar’s value against six major currencies, rises to near 107.70 at the time of writing. The Greenback could receive support as sentiment turns cautious ahead of a key US jobs […]