AlexPalmaFXTrader

AlexPalmaFXTrader Updated 

Hello everyone today i'm updating my chart analysis on usd/cad pair. Market just hit 38.2 % retracement level of wave 3 which may indicate the end of wave 4 and the beginning on wave 5. if my analysis is right market will drop to triangle support level @ 1.38500 or even lower to 1.3790

AlexPalmaFXTrader Updated 

According to my wave count we are at the beginning of the 3rd impulsive wave (longest wave) which target will be reached tomorrow during the US session.

AlexPalmaFXTrader

Hello Traders, today i'm just posting an update from yesterday's chart analysis on USD/CAD. We are still on a downtrend and getting closer to key level supports where i think market is gonna reverse. what i can see on the 1 hour chart is a Possible Zigzag Correction, currently on it's last wave formation (C) but it's too early to really predict if in fact this is...

AlexPalmaFXTrader Updated 

USD/CAD price is on a triangle pattern right now on a daily chart. however on a 1 hour chart we can see diagonal pattern (either leading or ending) getting close to the triangle top resistance level. RSI and Stochastic are showing an strong divergence indicating a possible trend reversal. I have a pending sell order right now with stop loss and take profits as...

AlexPalmaFXTrader Updated 

GBP/USD @ 1.3300. by June 30th?. Almost +1200 Pips gain if you buy gbp/usd at market price right now. let's see if my wave count works happy Trading

AlexPalmaFXTrader Updated 

We are currently on a downtrend, and of course as a trader i want the wind on my back. I set up pending sell order @1.2272 with a stop loss of about 50 pips and profit of 150 pips. Let's see if my wave count works

AlexPalmaFXTrader

According to my wave count analysis on my 4 hour chart GBP/USD market is going up, even dough, there is a break out already in the parallel channel bottom line , market has to test that last bottom resistance level. Stochastic indicator is showing bullish divergence and RSI in the oversold area Follow me for more updates and happy trading!

AlexPalmaFXTrader

Scenario #2 Possible a contracting triangle with lower line rising Trade: Short at break out of lower line

AlexPalmaFXTrader

Possible Scenario #1 Possible a contracting triangle with lower line rising Trade: Short at Market Price 1.0837 Stop loss 10 pips above wave sub-wave B of D @1.0936 Profit target @1.0790 Risk reward ratio is about 1 to 1 For a Risk reward ratio 3 to 1 i would wait for sub-wave B to develop and enter short the market @ 1.0900. Stop loss to remain the same

AlexPalmaFXTrader Updated 

RSI OVERSOLD STOCHASTIC SHOWING DIVERGENCE