A couple of patterns have formed on daily chart of EURJPY. Firstly, a 'Double top' pattern was triggered yesterday with daily close below 137. Secondly, a three-wave correction may have ended on Aug 21. Thus, another wave down is due to unfold targeting 131,20 area. To confirm this scenario, a break of current trend line is around 136.20+ is required....
USDCAD consolidates in a fifth wave (daily) of a fiifh wave (weekly) It may go for another five waves up as an extension of the 5th wave. If the consolidation breaks south, it is reasonable to expect an ABC correction.
Quite interesting: this could be the beginning of a major reversal. Looking forward to a third wave to buy.
USDCHF is in a corrective pattern (4th wave at daily) within a corrective pattern (hourly ABC) WITHIN a corrective pattern (hourly ABCDE triangle) . The setup is similar to USDJPY as you can see at related ideas. Happy trading!
This setup is very similar to EURUSD. Nevertheless, GBPUSD seems more 'price-action friendly' than the Euro cross. The dollar correction has a daily target. If you zoom out the chart you shall see. ___________________ *For now on I'll reveal the money management of my trades. There are two major targets: the first one is at least double of the target two (the...
Here is my attempt on the dollar correction. First I figured out a leading diagonal withing a leading diagonal. I used MACD to identify which were likely to be the 3th Elliott wave. Than a correction may be in play: an ABC pattern The strategy is to buy at 62% retracement of the 'A' leg. Happy trading! ___________________ *For now on I'll reveal the money...
Trading a possible 'A' leg correction. Expecting a breakout of current consolidation channel.
Looks like the AUDCHF.
This is a close up at the late correction of USDCAD. I've identified as a 4th wave of 5 at daily timeframe, which is expected to go sideways for some moments. The entry is not aggressive as the projections leading price to the $1.35 in near future. Fundamentally it is quite possible as the recovery of the US economy and its 5-years-low-rate instigates a rate hike...
At the last market bottoms was 10% bulls. Strong turn bay signal.
Here I see a price action trade along the linear regression line with standard deviation set at 2 and -2. I also believe this may be an Elliot wave cycle. If i remember correctly, the third wave, should be about the same length as the first wave, so i have placed my limit at the 1.618 extension of the second wave, just to be safe (remember, still learning price...
Dear traders, if you follow my analyses and my social media channels regularly you know that I was talking about two scenarios regarding the DAX30 since the (blue) four was seemed to be completed: 1) We stick to the plan and finish the job without any detour. At this stage I was talking about 12,300 as a milestone - which I finally got. I closed all my long...
Hi Traders, I just closed all my long term longs on $GER30 as I think we are in a great place to reverse or correct for a long time. As we can see on the graphs, waves with equal legs and we just completed 5 waves up. Also, RSI at trend line resistance. If I see anything bearish on 4hr, I might try to short in few days. Thanks! Thiago...
The Dow Jones Industrial to Gold ratio has reached a key resitance area near the 15 level for the completion of what we believe was corrective wave 4. We are expecting a continuation of the bearish move with the final downwave V. First target near the 2011 low of 5.69.
Buy here for best risk to reward ratio. Safe buy after price breaks yellow longterm resistance. take profit around 319 - 333 (2000 Yuan) UPDATE: Wait for close bellow stop loss for this to be invalidated