AlexVisi

AlexVisi Updated 

On daily chart SR1! retested high border of downtrend range and almost touched EMA(200). Good opportunity to enter short at 15280 with SL 15720. Potential TP is in the low border of downtrend range - 12460.

AlexVisi Updated 

Downtrend line from 20/08/2015. I think EURUSD will try to retest it. So i put long from 1,12634. SL - 1,12398, TP - 1,14320 in short term. Than I will short EURUSD from that level to low border of downtrend. Short from 1,1430, SL - 1,1484 in long term.

AlexVisi

Oil reaches mid-term downtrend line (red dotted line) on positive news from OPEC, finishing ABC structure. RSI is on the new hi. So, IMHO, we should see new falling wave from the range, marked by yellow rectangle (55,9 - 56,6). Watch the price action. First aim - 46,7

AlexVisi

Expected downward correction of Brent from Red resistance line. In case of crossing that line there is more strong resistance - Rose dotted line of multiyear uptrend. So there are two good entry points - 52.2 and 55.9 if Brent goes higher than 52.2.

AlexVisi

It seems that we'll see reversal point at USDRUB soon and beginning of a new uptrend. Expected oil downward correction will serve as a further confirmation for that idea.

AlexVisi

So we have the end of wave 2 at 54.73 and the beginning of wave 3 of a new 12345 growth cycle. Wait for the end of microwave C at 57.2 and take a long position to 63.

AlexVisi

So, we reached the goal at 52.7 – the end of sub-wave 5 of wave C. That point is turning point – start of new 5-3 Elliott cycle. In this view we wrote down sub-waves i and ii of wave 1 at 53.9. (Sub-wave ii may rich 53.7 – 0.618 of Fibo) Long position to 56.4 – end of sub-wave iii of wave 1. Wave 1 will rich 57.

AlexVisi

Short Brent to 52. It seems that Brent is writing sub-wave v of wave C till the shown point at 52 (0.382 of Fibo retracement). But it is still possible to turn up from 56 (0.618 of Fibo) because of trend line (red dashed line) - watch carefully ;) But in that case wave C is too short in theory... I would take short position after crossing red dashed trend line.