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Launch Chart
24 4702
gold break 1307,
good to long at this level.
Target 1391
XAUUSD, 60 Long
31 2973
After the historical decision of the Brits gold printed a terrible rally last week Friday.
I wanted to wait what's happening today on the stocks market and at the precious metals . Gold seems to be holding its gains. It seems to me that we are printing a pennant pattern and as stocks are falling price might break out to the upside.
The target price counted from the pattern is around 1400$.

Tomorrow I'm going to post a daily chart : we need at least one more day to make conclusions on the daily chart.
First of all I'm getting 100% convinced that at 1200$ (30.05.) we printed an Intermediate cycle low and we are in the 1st daily cycle of a new intermediate cycle. So it means there is almost 0 chance that we are going to break below 1200$.
The big question is if we printed a half cycle low (half of a daily cycle) on Brexit night or that was an early DCL .
If it was a HCL we will rally 4-8 days and we will be heading to the DCL : the low could be around 1260-70.
If it was a daily cycle low (DCL) we will rally 20-25 days and then the daily cycle low will be above 1300$.

I noticed in gold these pattern target price prices were working perfectly... So I tend to think that this pennant will work as well. In the HCL case price will run to the green TP area quite fast : in 4-5 days wit hthe falling stock market. In the early DCL case we will have a slower rally in 2-3 weeks.

But I'M quite sure gold is just consolidating right now before the next leg up. And in these moments we are almost tagging the pennant's upper line...

6 1400
Hi Guys AUDUSD is still in a downtrend and I am expecting one more impulse down.
on Lower time frame I am looking for a sell setup.

Trade with care.
Thank you for your support.

XAUUSD, 240 Short
6 782
Hello Traders! We hope that our analysis can help you in your trading and if you are interested to receive real-time updates about this analysis, click on "I Like" BUTTON on the chart
... thank you very much!!

DXY, D Neutral
5 366
DXY has a big impact on all USD pairs so it's always a good idea trying to figure out how is going to move in the upcaoming weeks. Here we have a clear picture with price having broken above a lonh term downtrend and already having started a correction to the down. Wait for this correction to end and a new rally will start.

This means sell opportunities in the EURUSD, GBPUSD, NZDUSD, AUDUSD, and buy opportunities in the USDCAD, USDJPY, USDCHF.

Don't miss tomorrow my webinar on harmonic patterns! I will show you how to draw them (fibonacci ratios), a simple way to identify them into the charts and most importantly which qualify to trade.

You may register using the link below:

AUDJPY, 60 Short
0 331
Hey, traders. My setup requires 11 criterea to meet. We've met 6 for now. We need two more criteria to trigger the trade. The last three ar position sizing, stops and targets levels. When all 11 criteria are met the setup has 72,5% probability to win with avarage risk to reward ratio 1 vs 1.1. In avery trade my risk is less than potential gain. Overall the strategy has 2.9 Profit Factor. This means that every dollar invested returns back 2.9 times multiplied. Cool, innit? Contact me if you want me to teach you my approach.
XAUUSD, 60 Neutral
5 583
After that monster move after brexit ,Gold has been struggling to close above 1335 . As long as it stays below 1335 its a short to catch the retracement up to 1303 area.

Clone levels are on chart.. Trade accordingly
XAUUSD, D Neutral
0 181
Confluence long
EURUSD, 60 Long
14 1727
Potential Bullish Bat Formation on the $EURUSD

Akil Stokes
Chief Currency Analyst & Head Trading Coach -The Premier Online Trading Education Company

@AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
3 346
In my last published chart on GBPUSD and “Brexit” fog (see link below), the suggested target appears to have been met, but feel it happened too quickly. So more sideways action and decline is anticipated.

The effect of “Brexit” fog in not just limited to UK as has been noted from the reaction from wider financial market. Eurozone (EU) is intricately linked to this even more.

Many are implying that the EU will be very tough with UK to make an example out of them in withdrawal negotiation. Hard to tell , but various competing factors could make it messy. During which both GBPUSD & EURUSD remain weak against most other major currencies.

Looking through the price chart of the EURGBP from Elliottwave perspective, it seems to suggest that EURUSD could be the weakest currency for extended period.

From the Screencast snapshot of price data of EURGBP from ( ) and assuming it is correct and I have interpreted wave counts correctly, it could offer an excellent opportunity to profit from shorting EURGBP and EUR against other currencies. So let’s explore this:

General Observations & Major Elliottwave counts.
1. Price high formed in 1995 is a possible top of an ‘abc’ zigzag we will label this {W} .
2. A retracement low in 2000 is also zigzag which we can label as {X} as it is of the similar cycle degree.
3. Consequently the bullish move of this low to 2008 high is also a zigzag and forms a cycle wave top {Y} which marks a major corrective high of WXY cycle from 1950s low.
4. The price decline of this high do not appear to be of 5 wave impulse but rather overlapping and hence corrective. If correct this should also form a zigzag, which from the price action since looks like a running flat abc of 3-3-5 configuration.
5. The May 2010 low is a complex zigzag wxy, forming wave ‘a’ which was retraced in May 2011 high forming wave ‘b’ of flat.
6. Subsequent decline is part of wave ‘c’ of 5-5-5-5-5 configuration but taking the form of “Expanding Ending Diagonal” of which we are about to complete wave ‘iv’ and wave ‘v’ could commence soon developing in a zigzag decline.
7. The completion of the cycle could be in the region of 0.65 by mid 2018 or later.

Technical Summary on Weekly:
1. Dumping against median line of pitchfork
2. Also at 100 MA on weekly and 200 on daily.
3. Has retraced approx 78.6% of the wave iii decline
(ie from 2013 high to July 2015 low)
4. Potential RSI divergence with March 2016 high on weekly.
5. Possible time symmetry between highs of June 2011 - Feb 2012 and Feb 2012 - current high.

Conclusion: If the above holds then both the GBP and EUR will likely remain weak and EUR could be the weakest of all the major currencies.

1. EURGBP could offer multiple opportunities to short using a daily chart a potential short is imminent, could be narrowed down on H4 chart with initial target of 0.76 second around 0.73. This is the clearest trade with defined risk.
2. From my analysis I am of the view that USD & JPY will remain relatively strongest 2 of all major pairs hence shorting EUR against both of these could be profitable for longer term trades but could also carry risk of sharp retracement.

Warning: This is my interpretation of price action using TA approach that I consider helps me most5 but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views.

For those who appreciate my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then please be constructive and share for all to learn from.

Thank you for taking the time to read my analysis.

BTCUSD, 240 Short
0 302
680$ - this is still the Level to watch! Trading below that Level indicates a bearish momentum - Trading above 680 will brighten the Chart, the main uptrend can possibly be resumed

At the Moment, we have four Trends:

- Midterm downtrend: red 1-2-3 counting: As Long btcusd are trading below 680$, this trend is dominant. Further downwaves can be exspected
- Midterm uptrend: big green 1-2-3 counting - This counting is valid as Long btcusd are trading above 608$
- Shortterm downtrend: orange 1-2-3 counting - should btcusd trade below the last valid orange "2" the next shortsignal appears --> tp could be 580$
- Ultrashortterm uptrend: small green 1-2-3 counting : This counting is valid as Long btcusd are trading above 622$
. SHould btcusd trade above the last valid "2" the tp could be 680$

Here is the Explanation for this simplified style of counting

Former Analysis:
The holy Fibo 61,8%
Trying to catch the correction of the correction?
Longterm resistance turned into support?
New shortterm "3"?
A flag -is that true?
Explosion ahead?

USDCHF, D Neutral
1 194
If come to blue line, check price action then can try short.

If come to black line, check price action then can try long.
NASX, W Long
0 120

1 - Overall price action suggests an incomplete 5-wave impulse with Elliott Wave alternation rules giving way to a complex Wave-IV consolidation with support expected at 4104.70, compared to a simpler Wave-II which occurred between 04-2010 and 10 2011; A resultant Wave-V completion remains pending
2 - Predictive/Forecasting Model eyes ONE pending targets, namely TG-Hix = 5255.11 and a WL level suggesting high-probability reversal level, namely WL = 5859.51
3 - Interim support corresponds to alignment of both a structural level where Intermediate Wave 4 (circled) defined its residence, as well as a quantitative target generated by the same Predictive/Forecasting Model as that which generated above qualitative levels, TG-Hix and WL


I often receive comments and suggestions about RSI, pointing to so-called divergences, which are typically referred to as "bullish" or "bearish" divergences - I will be short on this, as I have hammered this topics in public lessons several times over the years, but the author had originally suggested that BEARISH divergences in RSI (RED in the RSI field) are commonly associated with BULLISH trending markets, and not with declining markets, as many junior traders tend to perpetrate the same misstatement from misinformed tutors.

If you need to use RSI for a market expected to rally, look instead for POSITIVE (neither bullish, nor bearish) divergences (GREEN in the RSI field), where the origin of the green line imposes a solid support, which price will seldom transgress (as is consistently shown in this case) - The analogy I teach is that of a "shovel", where the origin of the green line is the handle, and the tip is the shovel, propping price up and above to higher height, in a situation where price carves a HIGHER-low against a LOWER-low in RSI ... If confused, just ask me for more examples, or feel free to post some suggestions here or in another appropriate chart ... Kapish?

The inverse is true, where a NEGATIVE divergence is price, where I use the "hammer" analogy, has the handle defining a level which price will not transgress, where the right-end of the RSI (not shown in this chart, since there is no downtrend defined as of yet) would rise at a HIGHER-high, compared to a LOWER-high in price, thus giving the impression of hammering the price further DOWN.

The ORANGE lines are convergent lines, and they simply have no "telling" as to the direction, strength and extent of subsequent price action.

Hope this helps in your own analyses.


David Alcindor, CMT Affiliate #227974
- Alias: 4xForecaster

BTCUSD, 240 Short
3 403
BITCOIN. Expecting wave (2) to end at $689 - $699 then the major drop for wave (3). I will provide targets for wave (3) once I see evidence that wave (2) has ended.
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