On the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish...
With the Canadian Dollar reaching to an extreme against the USD we are trying to find the bottom for the CAD on all pairs and it is more clear now that we will reach a primary bottom for the CAD very soon. When we look at the GBPCAD long term trend it is clearly a downtrend and the uptrend started around 2013Q1 is a corrective 5-3-5 trend. In wave C, the fifth...
The pair has finished an ABC correction and now heading up and we have two scenarios, the first: we are in a wave x upward which is a 5-3-5 corrective wave in the main trend direction (up). The second Scenario, we are going to continue in an impulsive fashion upward to new highs. With NZDUSD breaking a trend line to the downside, it is most probably we are going...
XAUUSD is giving a buying opportunity at current levels with stoploss just below the lows and target around 1100. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email: contactus@prowaveanalysis.com Facebook: www.facebook.com Twitter: twitter.com LinkedIn: in.linkedin.com
We are in corrective structure after a 5 wave move up on USDJPY. We seems to be in the latter stages of an end to the correction. Overall a breakout to the upside is expected. Remember this is a Daily chart, so it may be sometime before it pans out. Price zone to note is 119.50 - 119.00. Price action in thhis zone would give clues about what possible correction...
Corrective ABC structure seems to be complete. Which in my counting is the IV higher degree corrective wave of a large down trend. Only problem is the final C wave is below the initial A wave of the overall completion. Any thoughts ?
The first phase of the corrective structure is a clear flat. The second phase is underway, so it could be either the green triangle or the red ZigZag. If it is to be the triangle we should see a clear reversal at the Blue trendline resistance to complete the last leg of the triangle. On the other hand, if price clearly breaks the Blue trendline resistance, then we...
AUDUSD Look at that divergence! Impulse done, wait for the correction. Sell 0.72700 SL 0.72500 (20 pips) TP 0.71700 (near fib 50-61.8%) What do you think guys?
If the corrective ABC is to complete at the equidistant trendline support, there may be opportunities for short term scalping to the upside.
Hello everyone. II will be posting here my ideas so i can keep track of them. Why i dont publish in private? Because i am open to any suggestion, so if anyone has something to tell me i'll be glad to read what he or she has to tell me! This is another setup i will have in mind, in this case gbpusd is showing a corrective phase that looks like a simple abc...
I think i see a zigzag in the DAX. I have not traded the wave-patterns much, but i do my best. If any expert out there have a other view on this, please comment so i can make it better next time.
AUS200 is going in a complex correction and there is a good chance that it will go up significantly next week. We inter this swing trade today with 3.58 risk/reward ratio and we close our longs once leg C = leg A Happy trading :)
In the medium term, gold is in the 5th wave of an ending diagonal that could end around 1030. But before heading to new lows we could see a correction towards 1120 levels in the (B) wave. In the long term, gold should start a multi-year upward move towards 1450-1500 during these years the sentiment will shift from bearish to bullish and analysts will call for new...
Looking at USDJPY we have too many factors showing to sell this market. After a massive fall price started recovering having having completed three patterns. An abc corrective pattern, a bearish ab=cd and a bearish gartley. A strong bearish divergence with RSI is adding to our thoughts to go short with this one. Finally we can see that price broke the lower...
EURUSD is reaching the short zone which is around 1.1475 to 1.1500 where 61.8% Retracement falls of Wave 1 and Wave A is Equal to Wave C completing the correction within the Channel Lines which is also at the same levels. I would go short at those levels for a Wave 3 down move which will be impulsive and fast. Targets for me are below the previous low and at...
Market is just ended Elliott Waves correction pattern abc and got in to strong resistance zone. If the bulls will be weak continuation of Elliott impulse wave pattern short is expected. Fibonacci 38.6% level of last price swing is in the middle of resistance, as a confirmation of strong zone. We can see two strong support zones.
Adobe System has given a recent correction after a long rally. That correction would be a Wave A correction and since then it has retraced back to 61.8% fib which is also the trendline resistance making a Wave B. One can Go short now with stoploss just above the recent high and Targets atleast towards the same lows where the channel line support comes making it a...