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CHFJPY have reached a strong area of support now.
After this long bearish move we will see a correction or a potential higher low on
the D1 timeframe.
I will look for good buy entries on lower timeframes.
240 counter trend
Today I tried analysing BCHUSD and want to share my ideas with you. I'd appreciate any feedback or corrections to improve my analysis!
Before I begin: please excuse my labelling at times, I am still learning the finesse of Elliot Waves and analysis, so bear with me if at times it sounds confusing. ;-)
At present we seem to be nearing the end of a ...
we are in a weekly consolidation - we will either get one more "yellow" - see the 3 wave moves up then drawn out consolidation - OR- "blue arrow" - continuation - to downside and consolidation is over. either is possible - see chart - the green arrow points out where we are on 4h and we can look for sell set up on 4h for one more down or break out and get ready ...
see chart -- sell is my first option.. would need a 60 min consolidation to get in the buy again.
You may call it a flag or wedge but you can see a previous complted pattern followed by another. I am currently short at the highlighted candle and take profit is near rising support.
I think I see a bearish rising wedge pattern. Once it closes past support line bearish I think the move will to the downside.
set up forming.. see chart
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Lazy chart for your appreciation.
look for pullback/240 bear flag for sell - EURUSD looks like Running flat possible on daily/240. retest low and daily TL - then will see if it breaks lower or correction for more upside. Happy trading! If you like the charts, you can always join us for free weekly analysis live in youtube.. see link!
see chart - wave analysis - look to be at bottom of 4h channel, buy the 1h break out back to top and may be time for 4h breakout. Happy Trading.. see you in the weekly webinars! ;)
Earlier chart in 240 min zoomed following progress macd and rsi looking good
A very very nice bullish pennant pattern has formed and it is fitting very much tot the textbook style as well so we should see a massive uprise in the market hopefully.
Price has broken out of the flag pattern which was intended to go short but predictions saying that the market will retrace at the mini support level and shoot up.
Price has shown a lot of support from previous bars shown and it should rally up even more now. Looking to catch between 100 - 150 pips hopefully.
I see this isosceles triangle pattern form which than caught my eye cause before that, the market was rallying very high and formed a flag pattern as well. So I used a XABCD pattern and it fit very perfectly.
Hopefully price should retrace back a little and continue to strengthen up.
Flag pattern EURPLN
A bearish bat is potentially developing in AUDNZD H4 chart. Point C was formed and the price is moving up to point D. The price action needs to be observed in the PRZ. An entry is likely to be taken when price meets BCD 2.0 Fib retracement.