HOPEFULLY THIS HELPS YOU GUYS! REMEMBER TO HIT THAT LIKE BUTTON! GIVE US A FOLLOW AND ASK ANY QUESTIONS IF NEEDED! THANKS TOM
SIMPLE ABCD PATTERN BOUNCED OF 38.2 LEVEL LOOKING FOR D EXTENSION @ 11.168 ALSO PRICE IS RETESTING TRENDLINE AND HOPEFULLY SHOULD BOUNCE BACK DOWN
It looks like structure has changed as we have massive selloff. Wave B often drops to 78.6% area. It coincides with the channel support. In this case wave C = 1.618 of A would bring the pair to 1.1682 +/- the gap around 78.6% pullback. Watch 1.1164 area for potential reversal. Below 1.1220 - the previous 5-wave impulse count would be invalidated ( ) This is the...
Looks like AUDJPY is about to finish the corrective structure and break the trendline which would take the price to at least 80.60 area.From there the E wave completes and probably we'll see a lot of downside movement.Trade your plan.
I expect this down move to end soon. Trade it according to your strategy. More details in chart.
Price is getting closer to a high-probability PRZ (price reversal zone marked in red rectangle.) Harmonic: AB=CD completion Elliott waves: ABC correction complete in multiple degrees. I would wait for the price to reach the red rectangle and show signs of a reversal.
There must be a comprehensive text, but I'm too lazy to write it.
FX:USDCAD Safe Trades;
Note the nature of market; price acts fractally and repeat a pattern over and over... Its making 3 waves, each one contains another 3 waves structure itself this setup is valid if price breaks the trendline and consolidates in lower time frames.
FX:NZDUSD Safe trades;
now that we broke down, a retest of the lower solid blue line becomes more of a possibility. so far i still wanna be patient because shorting now would not make alot of sense. im tryin to go short at C if we can get up there.
This is a simple setup. i outlined a possible trade utilizing the angled trendline as a place to put stops below, since we dont have alot of horizontal structure to place stops below that would provide decent RRR. i however will look more for trades on the lowertimeframe that compliment this idea rather than trading the outlined idea.
Bat completion at ABC correction.
potential wave count and double bottom, take care and manage risk
Gold has started its down move again after giving the three wave upmove in a corrective trend channel. The current down move is expected to go around 1180 where the correction might get over and the new upmove will probably start from there. One can go short on Gold with stoploss just above today's high of 1270 with Target of 1180. Happy Trading!! Siraj Hudda,...
I posted this idea a couple of weeks ago (link below). now im just updating it coming into an interesting zone this week. everything else is on the chart and/or in the original idea.
with a nearly perfect 786 retracement a 127 extention is a good place to look for the completion of the abc correction (abcd pattern). the zone will also be a strong resistance zone based on recent structure. if we place our stops above the most recent highs we will also have a batpattern completion above us (white) which would help us out if we dont reverse right away.
This is a followup to an idea of last week (link below) I said that some sort of correction might be incoming now, and we are currently sitting in one. Point C will be the retest of the most recent structure (orange box) as well as the higher degree structure retest at 3(white box). I will look for a precise entry at this point with stops tigh above the orange...