Veejahbee

Veejahbee

In the GBPUSD 4 hourly chart above, the price decline in five waves from 1.34181 high in September. A five-wave move is regarded as an impulse pattern, which indicates the direction of the primary trend. According to Elliot Wave Principle, a three-wave correction in the opposite direction follows every impulse move. In GBPUSD's case, the retracement took the...

Veejahbee

After completed an expanded flat corrective pattern, the price can move lower in the days ahead. Nameable Elliot Wave Pattern: (w)-(x)-(y) Double Zigzag in the higher degree. What's your view on AUDUSD?

Veejahbee

After multiple touches of the parallel channel upper boundary + resistance zone, the price can move lower in the days ahead. Nameable Elliot Wave Pattern: Double Zigzag What's your view on NZDUSD?

Veejahbee

Only two days left until the elections and Wall Street is bracing itself for the next president of the United States - Trump or Biden. US Elections have been and are always expected to be an extremely volatile event worldwide. Elections, similar to other political or banking sector events, are notably treated by market participants with anticipation and...

Veejahbee

A week of high-volatility ahead of us in the FX market as the US presidential electio n is only a few days away. Sharp and unexpected price movement could happen around the time election results are announced and days after. So stay vigilant and trade safely. As you know I'm a pure technical guy! I don't care what the news says but rely on the pure price action...

Veejahbee

GBPJPY has just completed a 5-3 "impulse-corrective" wave cycle. According to the wave principle, once a 5-3 wave sequence is completed, we should expect the price to resume in the direction of the impulse pattern . In GBPJPY's case, the impulse is bullish in wave "a". I will look for the break of the green lines to confirm my bullish thesis and have my...

Veejahbee

USDCAD is making a five-wave impulse rally, labeled (i)-(ii)-(iii)-(iv)-(v). The price is currently in wave (iv) of the advance. Once the corrective wave (iv) is completed, we would see another leg higher in wave (v) before any substantial corrective move. What's your view on USDCAD? Let me know in the comment. Thanks for reading! Veejahbee.

Veejahbee

Bitcoin has been unfolding as a five-wave bullish impulse structure since September 2020 low. Impulse indicates the direction of the larger trend. In the meantime, we should be seeing a short-term corrective decline in the 4th waves while the price continues to move higher in wave (iii) and (v). Buying the dip in the short-term is still advisable for the next...

Veejahbee

The Bitcoin weekly chart above shows the price action since the 2017 major high of ~$19800. The overall correction seems to be unfolding as a double zigzag or possible flat pattern. The decline from the 2017 top unfolded as a simple A-B-C zigzag pattern with a triangle in wave B of (W). While the rally from the 2018 low of ~$3150 has been unfolding as a...

Veejahbee

AUDNZD has been in a bearish trend for the past few months. This decline took the form of (a)-(b)-(c) zigzag and it's enclosed within a parallel channel. The price has been moving very slowly and choppy in wave (c) of B, which indicates a lack of momentum to the downside . As you can see from the chart, the MACD indicator has been diverging higher while the...

Veejahbee

USDCAD broken a descending trendline and a support & resistance zone. Price has retested the broken zone and printed a bullish engulfing candle. This retest is also lined up with (I)-(ii), i-ii Elliot Wave sequence. Price has the potential to continue moving higher in wave iii of (iii). The break of green lines for buy confirmation while the red line is the...

Veejahbee

GBPJPY has been in a sideways move for the past three weeks. This irregular move usually fits in for a triangle pattern in the Elliot Wave principle. As you can see from the chart, the price made a sharp impulse move from wave (a) low, and since then the price is has been unfolding in a three-wave sequence in wave (A) through (E). The decline in wave (E) of...

Veejahbee

BTCUSD looks bearish! Bitcoin rejected a demand zone and upper boundary of a parallel channel. The break of the green line and black support & resistance line will give way for the bears! What's your thought on Bitcoin? Regards, Veejahbee.

Veejahbee

Bullish triangle continuation setup. Entry Idea: Entry from the break of the green line. The red line is the invalidation level. What's your view on GBPZND? Kindly leave your thoughts in the comment. Regards, Veejahbee.

Veejahbee

Bearish continuation setup. Entry Idea: Entry from or near the current market price. The red line is the invalidation level. What's your view on NZDCAD? Kindly leave your thoughts in the comment. Regards, Veejahbee.

Veejahbee

Bearish continuation setup. Look for short on Lower Highs while the price is still trading below the red line. What's your view on AU? Kindly leave your thoughts in the comment. Regards, Veejahbee.

Veejahbee

Bearish continuation setup. Entry Idea: Entry from or above the current market price. The red line is the invalidation level. What's your view on NU? Kindly leave your thoughts in the comment. Regards, Veejahbee.

Veejahbee

S&P 500 decline in a five-wave contracting pattern knows as leading diagonal from its all-time high. It's labelled i-ii-iii-iv-v in wave (a). According to Elliot Wave theory, a three-wave correction follows every impulse move, that's the subsequent a-b-c zigzag move in SPX. The correction retraced more than 80% of the impulse, retested the upper boundary of...