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This pattern confuses beginners 😳 ⠀ The falling wedge pattern resembles the triangle pattern, so novice traders often make mistakes when opening trades. ⠀ The main difference between a falling wedge and an ascending or descending triangle is the downward movement of support and resistance lines, while a triangle has a clear horizontal line of support or resistance. ⠀ As part of risk management, price movement must be defined as the height of the wedge itself. However, with a massive increase in trading volumes, quotes may go even higher. ⠀ You can see an example of the falling wedge in the 15-minute Apple Inc stock chart. ⠀ The picture shows that the price was gradually decreasing after the main bullish trend, while the lows and highs of the price were declining. ⠀ After the narrowing of the trading channel, there was an impulse breakdown of quotes upwards. ⠀ After waiting for the re-testing of the broken resistance level, we could open a buy trade with the target higher by the level of the falling wedge height. ⠀ Stop loss in this case should be set at the lower border of the trading channel. Follow our blog for more useful information: http://amp.gs/jxnZw

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XAUUSD: Elliott wave analysis and forecast for 09.12.2022 – 17.12.2022 Main scenario: consider long positions from corrections above the level of 1765.01 with a target of 1851.11 – 1920.84. Alternative scenario: breakout and consolidation below the level of 1765.01 will allow the pair to continue declining to the levels of 1714.44 – 1689.68. Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart, with wave С of (4) completed inside. The fifth wave (5) appears to be forming on the H4 chart, with the first counter-trend wave of smaller degree i of 1 of (5) continuing unfolding as its part.... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxnmG

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Pound left troubles behind. Forecast as of 09.12.2022 When downbeat forecasts don't come true, a currency has every chance to grow. That goes both for the euro and the pound. A recession may turn out not too deep and won't thus mean a fall of GBPUSD. Let’s discuss it and make a trading plan. Weekly fundamental forecast for pound sterling Be prepared for the worst, as the best doesn't require preparations. Why is the pound growing if the British economy has already tanked into a recession, hasn't recovered after the pandemic in contrast to other G7 economies, and the Bank of England has delayed a rise in interest... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxntR

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WTI Crude Oil: Elliott wave analysis and forecast for 09.12.2022 – 17.12.2022 Main scenario: consider short positions from corrections below the level of 84.00 with a target of 63.00 – 54.50. Alternative scenario: breakout and consolidation above the level of 84.00 will allow the asset to continue rising to the levels of 94.40 – 98.25. Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a bearish correction continues developing as second wave (2). Supposedly, wave С of (2) is forming on the H4 chart. It includes a correction formed as wave iv of C. The fifth wave of smaller degree v of C appears to... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxnYW

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USDJPY: Elliott wave analysis and forecast for 09.12.2022 – 17.12.2022 Main scenario: consider short positions from corrections below the level of 137.84 with a target of 133.16 – 127.32. Alternative scenario: breakout and consolidation above the level of 137.84 will allow the pair to continue rising to the levels of 142.20 – 143.75 Analysis: a bullish third wave of larger degree (3) presumably finished developing on the daily chart, with wave 5 of (3) formed inside. A downside correction started developing as the fourth wave (4) on the H4 chart, with wave А of (4) continuing forming inside. Apparently, the fifth wave of smaller degree v of A is developing... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxnYZ

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GBPUSD: Elliott wave analysis and forecast for 09.12.2022 – 17.12.2022 Main scenario: consider long positions from corrections above the level of 1.2100 with a target of 1.2674 – 1.2963. Alternative scenario: breakout and consolidation below the level of 1.2100 will allow the pair to continue declining to the levels of 1.1750 – 1.1325. Analysis: the fifth wave of larger degree V presumably finished developing on the daily chart, with wave 5 of V formed as its part. The first ascending wave (1) started developing on the H4 chart, with the third wave of smaller degree 3 of (1) forming as its part. On the H1 chart, apparently, there's wave (iii)... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxnzQ

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EURUSD: Elliott wave analysis and forecast for 09.12.2022 – 17.12.2022 Main scenario: consider long positions from corrections above the level of 1.0288 with a target of 1.0745 – 1.1020. Alternative scenario: breakout and consolidation below the level of 1.0288 will allow the pair to continue declining to the levels of 0.9928 – 0.9717. Analysis: a bearish wave of larger degree A is presumably completed on the daily chart, with the fifth wave (5) of А formed as its part. Apparently, an ascending wave B started developing on the H4 chart, with the first counter-trend wave of smaller degree 1 of (A) of B forming as its part. H1 chart: wave... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxnT2

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USDCHF: Elliott wave analysis and forecast for 09.12.2022 – 17.12.2022 Main scenario: consider short positions from corrections below the level of 0.9451 with a target of 0.9285 – 0.9085. Alternative scenario: breakout and consolidation above the level of 0.9451 will allow the pair to continue rising to the levels of 0.9660 – 0.9753. Analysis: a bullish third wave of larger degree (3) is presumably developing on the daily chart, with wave 1 of (3) formed inside. On the H4 chart, a descending correction continues developing as wave 2 of (3), with waves a of 2 and b of 2 formed as its parts. Wave c of 2 continues unfolding. On... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxn8d

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USDCAD: Elliott wave analysis and forecast for 09.12.2022 – 17.12.2022 Main scenario: consider long positions from corrections above the level of 1.3384 with a target of 1.3824 – 1.3975. Alternative scenario: breakout and consolidation below the level of 1.3384 will allow the pair to continue declining to the levels of 1.3220 – 1.3070. Analysis: the fifth wave of larger degree 5 is presumably developing on the daily chart, with wave (3) of 5 forming as its part. The third wave 3 of (3) continues unfolding on the H4 chart, with wave iii of 3 and wave-shaped correction iv of 3 completed as its parts. The fifth wave v of 3... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxnj9

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LiteFinance became the best broker in the Global Brands-2022 nominations Dear clients,  Less than a month is left before the New Year holidays, so we decided to sum up the results of 2022 and share our professional successes with you. Following the well-established tradition, LiteFinance has once again become the best broker in several categories. According to the UK Global Brands Magazine, LiteFinance wins the awards: Most Innovative ECN Broker in MENA; Most Innovative Regional FX Broker in Asia. We are proud of our achievements and want to assure you that we will not stop there. Our developers will continue improving LiteFinance services, which are highly appreciated by thousands of... Read more http://amp.gs/jxnI5

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Short-term analysis for oil, gold, and EURUSD for 09.12.2022 I welcome my fellow traders! I have made a price forecast for US Crude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Euro is rising in the short-term uptrend, approaching the primary upside target. Oil price forecast for today: USCrude analysis The oil short-term downtrend continued yesterday. The price broke through the low of December 7. The price is now trying to break out Target Zone 72.04 - 70.91. If the TZ is broken out, the next downside target will be Gold Zone. If... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxnI4

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Dollar: all problems are due to self-confidence. Forecast as of 09.12.2022 Few people assumed that at the end of 2022 the Fed would begin to signal a slowdown in rate hikes. When this happened, a wave of sales hit the US dollar. However, without the ECB, the picture would be incomplete. Let's discuss this topic and make up a trading plan for EURUSD. Weekly US Dollar fundamental forecast 2022 was marked by a massive increase in interest rates. Central banks, seeking to curb demand and reduce inflation, acted according to three criteria. First, how to quickly raise the cost of borrowing. Secondly, how deep inflation can go. Third, how long it will... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxB6k

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Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.12.2022 I welcome my readers! I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency. Elliott wave Bitcoin analysis Bitcoin continues to form a complex corrective wave B, which consists of three main sub-waves [W]-[X]-[Y]. Sub-waves [W] - [X] are completed, while the last sub-wave [Y] is still under construction. Wave [Y] will be completed as a double zigzag (W)-(X)-(Y), where the last leg (Y) also looks like a double zigzag W-X-Y. Growth within sub-wave (Y) will reach the level of 18010.00. At this level, wave... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxBQR

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Watch this video so you never make the beginner's mistakes ! https://www.youtube.com/watch?v=ggf2uqpm8TI

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Franc is right at home. Forecast as of 08.12.2022 The approaching global economic recession is not the only bearish driver for the USDCHF. US dollar sell-offs, reverse currency wars and other drivers support the Swiss frank. Monthly Swiss franc fundamental forecast The US dollar is weakening, December is a statistically strong month for the franc, and the global economic recession is approaching, so the Swiss franc, being a safe haven, is naturally rising. The USDCHF 11.5% drop from its November highs is due to massive US dollar sell-offs, the SNB's intention to play reverse currency wars, and the fact that the Swissie looks strong at the end of the... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxBSX

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LiteFinance named Best Retail Forex Broker of 2022 Dear clients, LiteFinance was recognized as the Best Retail Forex Broker in 2022 by the professional jury of Smart Vision Investment EXPO-2022 The exhibition annually presents the leading trading and investment companies in the Middle East's financial markets. We are proud to receive the most important award of the event among such deserving competitors. The LiteFinance team is grateful to our clients, because we are constantly improving and developing thanks to you! Best regards, LiteFinance. Read more http://amp.gs/jxBUI

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Short-term analysis for oil, gold, and EURUSD for 08.12.2022 I welcome my fellow traders! I have made a price forecast for US Crude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Oil is trading in the short-term downtrend; the price reached the lower Target Zone 72.04 - 70.91. Oil price forecast for today: USCrude analysis In the short-term downtrend, the oil price reached the lower Target Zone 72.04 - 70.91. If the price continues falling and breaks out the Target Zone, the next downside target will be the Gold Zone 68.54 - 68.19. There could... Read full author’s opinion and review in blog of #LiteFinance http://amp.gs/jxB91