USDJPY found a base this week at 111.60 area and bounced sharpy up to 113.00 which may not be a breakout yet, if we consider the possibility of a Elliott wave triangle placed in wave B. It's a five wave pattern where wave E) is still missing, so be aware of a new setback to 112.00 before uptrend resumes in impulsive fashion.
Disclosure: Please be informed that ...
I see still uptrend on orange juice futures, nevertheless I see quite potential for correction move. Looks like bears are taking advantage (double inside bars + yesterdays strong bear candle). I think, that it will go down, if it breaks yesterdays low. Target is at 141.75, but I would move stop loss on break even level if it hits support on 145.20.
Looks like a quickly rally following the bearish Adam and Eve formation, expecting to hit 320-330 before resuming correction toward support at ~285
https://www.tradingview.com/chart/dVIdjnOE/
Showing signs of topping off and profit taking with overbought rsi's on multiple time frames
this correction will be short lived followed by a hard bounce on the upside toward the 6000$ range
Good day traders! Today let's check out AUDUSD and its 4h bearish development.
AUDUSD made a sharp and strong drop around 4th of October, which we labeled it as sub-wave 5 of 3). As such, recent rise is seen as wave 4) correction if we consider a broken trendline from black waves two and four. That said, we think that upside can be limited around resistance of a ...
Price on NZDUSD is currently rising, but hopefully only for a three-wave correction, which we see it as wave 2. Simple corrections consist out of three-waves, meaning once sub-wave a unfolds we expect two more legs to show up on NZDUSD. The resistance region for the wave 2 correction can later be seen around the Fibonacci ratio of 38.2/61.8.
Disclosure: Please be ...
USDNOK is unfolding a nice bearish leg, which we see it as blue wave one and now wave two in the making. We can see first wave one fully unfolded, so upcoming reaction higher can be the following wave two that may later search for resistance near the Fibonacci ratio of 50.0 or 61.8 and make a new drop lower.
Disclosure: Please be informed that information we ...
Bitcoin is proceding nicely LONG continuing upwards trend towards the $6,100 area.
Once the 'ABC' correction initiates, we could see significant pullback towards a flip zone. Depending on whether another fork will occur in November or not, will most likely determine whether or not price action will pentrate the flip zone dropping down to another deep retracement ...
GBPCAD is under short term correction with Wave C in progress. Buying opportunity comes at 1.6250 levels @ 50 to 61.8% retracement zone where Wave A = Wave C for Zigzag correction with stoploss just below the current low around 1.5835 levels with targets around 1.7060 and higher.
Free Analysis : https://www.prowaveanalysis.com/free-14-days-offer
Happy Trading!
USDJPY is growing from the begining of september without larger correction. In the last days growth rate has decreased and USDJPY stay in local range 112.20-113.20. Today price break out up but it fast back to the range and now price drawing pinbar. All looks like price finally will breakout down, will make correction to support zone 110.70-111.00 and than will go ...
EURUSD is in uptrend since April 17'. Now we are seeing correction to support zone near 1.17000. This support zone was appointed in august where we can see a lot of candles with bottom shadows. There was a place where buyers were took the initiative. At the end of august and in september EURUSD was in consolidation ended with decline. Candles with upper shadows ...
USDJPY break out down of range where price stayed since end of semptember. As we told earlier, this should be correction of previous growth and price should go to support zone at 110.60-111.00. Aggresive traders could sell with a small stop loss. Conservative trades could wait for a pullback to the broken zone.
EURUSD made a new sharp and strong leg higher, which we see it as primary blue wave one, followed by an upcoming wave two. If that is the case, then previous three-wave decline found a base at the 1.1804 level and current sharp reversal is an indication for more upside to follow. However, if prices makes a new bigger drop below the 1.1804 swing low, then maybe ...
German Dax is finally breaking out of a fourth wave triangle, now in fifth wave so there is room for a move up to 12910/12950 region, where market may find a temporary resistance and send price south in three waves. We see some important Fibonacci ratios at the mentioned region that can react as turning point zones. A later minor five-wave drop and a break below ...
Traders,
EURCHF is close to complete the 5-wave sequence.
Wave 4 (cirlce) corrective wave is probably forming an Expanding Flat Pattern.
1 - Wave-(a) has developed into a ZigZag with internal 5-3-5 structure, ending at 1.12589
2 - Wave-(b) has developed into a Zig-Zag with internal structure 5-3-5, ending at 1.16233.
3 - Wave-(c) should develop a 5-wave ...
We are at the end of rising wedge wedge and near supply zone. What are we going to do now? are we going to be corrected at the end of wedge or in the next supply zone
I think we are going to have a couple of days correction starting soon.
The reason I picked the XBTZ17 (December BitMEX contract) it's because you can profit both from the price fall as well as the premium reduction.
The current premium is around $450 which is pretty big for historical standards of this futures.
Good luck and trade safe!
Lay low for just a bit longer but be ready to go LONG LONG LONG.
We are looking at a 1 to 3 day correction starting today before the next rally.
The weekly chart time frame is a 3 out of 9 bullish. We are at 3 now, 9 take profits.
**WARNING**
November 27th-ish will be the multi-week correction 9. BE READY TO SHORT
The daily chart is in correction. but only ...
