After the break of the bearish trend chanal AUDUSD have take correction.
The price test now the upper line of the bearish trendline as support and is now near some very interessting
fibonacci retracement levels.
I personal will look for long entries if the FED interesst rate will stay the same as now.
I wish you a profitable trading week.
We're in an uptrend on the USDCAD 4 hour currently, but are starting to reach key resistance levels.
That said - stay long until the 4 hour is properly broken and then its time for the down trend to start!!
Any trades for me will simply be in a reaction to price movement.
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.
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...
set up forming.. see chart
To see more of what we do- find all information on facebook -search for PROWAVE TRADER -- free weekly webinars on youtube.. see the last one from Sunday here.. youtu.be
Cheers - Happy Trading!
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!
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.