AUDCHF (AB=CD) AND Cypher Pattern i am Rookie trading
Bear markets always have counter trend bounces - usually lasting 2 - 3 weeks, and in many cases follow the ABC structure as presented.C
Potential reverse at this zone due to :- 1- Completion of Butterfly pattern . 2- Completion of Carb pattern. 3- Completion of ABCDpattern . 4- Valid structure level. 5-RSI oversold
EURCAD has made a down move and was correcting for while which now has completed..It would go down around 1.5000 levels again to make C Wave move to complete the ABC correction. One can go short on the pair now with stoploss just above the high that was made..
Trend continuation style . using some Fibonacci extensions and inversion combined with ABC pattern ,
FX:USOIL ;) Safe Trades;
C leg is currently on 61.8% fib retracement and shows rejection from the previous trendline resistance. D extension target 1.272 lines in perfectly with my plotted major support. Target just above major support so the trade does execute according to spreads and just in case a reversal was to happen just before touching the uspport. Stop loss above the monthly and...
Read text written in the chart
I think that the trend continues towards point 5 and then follow the abc wave.
Gold has made an A-B-C correction which looks like completed giving a Buy Setup for targets of 1127. 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
Elliott wave from 2005 12345 now in C of ABC correction already past 50% retracement nearing 61,8%. After that could come the next impuls up wave. Start to coincide with major war threat or flat out war. Short while to go. Threat in the air: Turkey provoking Russia and trying to get NATO involved. Geopolitics: second front against Russia in (again) a proxy war...
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...
If the corrective ABC is to complete at the equidistant trendline support, there may be opportunities for short term scalping to the upside.
USDCAD made Wave A correction in 5 waves and since then potentially completed Wave B and has started Wave C correction. One go short on the pair at the break of the trendline as shown on the chart and targets can be different trend / channel lines as shown on the chart. Equal Legs move would be around 1.2810 levels for the pair where Wave A = Wave C. Happy...
EURUSD has potentially completed an Ending Diagonal as Wave 5 for C wave and is now on the verge of breaking out. With that a 3 wave Correction for X wave would potentially be complete and we might see one more upmove towards 1.1700 levels or higher which would complete Wave 4. One can go long now with stoploss just below today's low. Happy Trading!!
The structure here is clear and simple. Prices always move in 5 impulsive waves, 3 corrective waves or triangles. In all cases, I am anticipating a C/3 wave to the upside with minimum target =1.18 (if it is a C wave) and second Ideal target= 1.59 (if it is a 3rd wave). The current wave count on gold supports my idea of a near term bounce for gold.