I have identified a possible ABCD setup here on NZDCAD. I couldn't get A-C to the perfect .618 but .619 won't effect the setup at all since the bottom is 1.272 like it's supposed to be. Short til D then I go long with a stop loss of -15 pips and a TP of 60 pips for a 1:4 Risk/Reward trade
Best week since 2011, it has to go down, before it gets further up. With lot of resistance from top, and most traders placing shorts, it will surely go down on monday. I am short at 2160. Targets at box.
So far the price have found Support around the 50% of the previous Up Movement (See the fib), However the last attempt to go higher seems to start losing momentum, because the most immediate up trend line (Demand Line) has been broken.
However that does not necesarily means that the bearish market will continue, ...
Please note I am not a short term trader and I place no stops, I apply proper position size and build positions. I trade today's false sentiments when they arise and trade it for a profit in the future. I use Modern Monetary Theory for my analysis.
Please note I am not a short term trader and I place no stops, I apply proper position size and build positions. I trade today's false sentiments and trade it for a profit. I use Modern Monetary Theory for my analysis.
BREXIT was a non event that did not effect the UK economy. A 20% decline in GBPUSD ...
As we see the eu rally higher and higher,
we might take sometime to figure potential
retracements before we buy again.
I kept the daily funnel from previous analysis
and in conjunction with my wave count
eu is stepping back to 1.12000 before soaring again
Point 4 is the safest bet to go long ...
Plugged in a Fib to see how it looks, assuming this is the bottom, its in a good position to break the trend line, hit the .236, retest the trendline, then head for the weekly pivot at .382, possibly even more. Just a theory I wanted to share.
Looking back on EURUSD this is what I see from an elliotician perspective.
I hope you find this helpful for your future wave count.
Please notice how the Fib. time zone tool complies with the wave count.
Trade safe, trade well.
price is starting to consolidate inside a daily demand level while we have been in an uptrend. I'm looking for PA (price action: order flow)to confirm this level and see a couple of bigger bars to the upside. As institutions confirm this level then looking for profit targets @ the previous highs.
- Wave 1 finished -
- Wave 2 in the making - ''correction''
- Looks like- A wave pullback in a bigger ABC correction
- Possible short term '' sell'' down to fib level.
- Then turn to complete the B wave
FXMM continues growth after breaking 1220 resistance. It is building a bullish 5-wave pattern unless it breaks below broken resistance point (dotted red). The bullish momentum can mark the start of the new uptrend that can last for several years and most likely complete wave 5 at 1.618 fib level(1301.09). A ...
Ladies and gentlemen, it's about time i come clean here and share with you my secrets of success in trading the stock market. It is no secret that many expert traders make outrageous claims about the market not being perfect and that it can't be predicted, and that it will always be 50/50 percent chance of success ...