After capitulating last friday bulls are poised to take back some ground lost. Overall my trend bias is bullish My prediction is that price action will AT LEAST hit psychological level of 1.31000 Retrace a little bit and then sky rocket to a FIBONACCI CONFLUENCE - MONTHLY 38.2% RETRACE -1.271 FIBONACCI EXTENSION
Go long with the ABC pattern once price closes above the resistance at 150.60.
FX:XAUUSD Safe Trades;
Long at point B for correction ended or long after breakout for creating new impulse.
I expect a C wave down to complete the Zig Zag. Wave (A) five waves down, wave (B) three waves up and waiting for the next (C) five wave down.
HOPEFULLY THIS HELPS YOU GUYS! REMEMBER TO HIT THAT LIKE BUTTON! GIVE US A FOLLOW AND ASK ANY QUESTIONS IF NEEDED! THANKS TOM
The gold daily chart has a lovely symmetrical upper trendilne to it...Im expecting a short at 61.8% fib retracement ($1255) as todays move up was too strong to short gold from a lower level and experience tells me that traders nearly always push the boundaries to the limits... the chart tells us we will hit this trendilne and 61.8 fib on Wednesday 8th June, do not...
Markets always has tendency to fill gap zones. If you draw fib extensions / retracements on previous few swings , every 1.618 extension ends up in our marked zone 1618 is more valid ratio & we can expect market to move up after reaching the zone. ABCD pattern completion also in same zone. This is 4h chart of SBIN so will take time to complete, just keep it...
If you missed the short opportunity @ the 50% retracement of wave(1) , no need to worry as there is still plenty of opportunity left in this market. For starters , "The Trend Is Your Friend". We are currently experiencing LL's & LH's so lets stick with it. Entry: You can enter short @ the break of wave(2)'s Low Stop Loss: Above wave(3)'s high. TP: You can...
Most likely gonna hit 38.20% at the psychological major structure level 108.00 Gonna Watch Price Action after to indicate direction
Read text written in the chart
Buy around the break of 1.1330 and close position around 1.1450 because there is a strong resistance at 1.1462. Still need to confirm this but around the 1.1462 zone look for a short sell to 1.1333 - 00 before a long continuation to 1.1583
I'm often asked how I keep track of all the rules and guidelines when trying to count with Elliott. Frankly it is a bit of a tedious process. But for me, it help create good stop loss price-points. If I'm wrong... then I know exactly where I am wrong and my stop goes at that line. Having said that... outside of Elliott for a moment, the most important thing to...
FX:AUDNZD BEARISH SHARK: Point B: 61.8% XA Point C: 113% to 161% AB Point D: 161% to 224% B C 88.6% to 113% XC Target: 38.2% to 100% CD Safe Trade;
On the yen we have a CTS type trade setting up wic can suit both aggressive as well as conservative traders. CTS Score Structure confirmed by the daily time frame in green. (2 points) AB=CD harmonic move Fib Ext 1.618, lining up with the AB=CD also linked with structure (3 points) Fib inversion 1.618 lining up with structure (2 Points) Entry Aggressive- limit...
FX:EURCHF EURCHF Safe Trades;