correction

Seems XAUUSD reached the 0.618 retracement of the previous wave down on the daily. Possible corrective structure forming therefore we should be up to a short. Possible target 1205.

With the recent decline in the BTC price, to the 1830 price level, and falling below the 38.2% Fibonacci retracement intraday, but closing very near it, it is possible that wave A of IV has found it's completion. If so, the price will rise in a counter correction mode to retest highs near the Wave III peak at 2980. My guess is somewhere short of 2900, it will find ...

10Year US notes can be trading at the start of a new bearish leg, after a completion of a higher degree complex correction within blue wave IV. Current sharp reversal was quite expected, as price formed an ending diagonal pattern within the final wave (C) of IV, which usually suggests a sharp reversal after its completion. That said current weakness can now ...

If you look to the Bitcoin currency from the 1-st of January 2016, you will see a regular pattern: price was dropped to the MA20 every time when the new bubble bursted. To my opinion this correction is necessary for healthy bitcoin growth. Only one thing can break this rule: the SegWit. It can start agressive growth of the price from 1-st of August, but one day ...

EURAUD just reached some potential resistance zones, which can offer some bearish pressure and push prices lower. If that were the case, then we would expect a five wave move lower to develop early next week and ideally breach below the previous swing low of wave B at 1.4875 level. That said another indication for more weakness would also be a breach below the ...

GBPUSD can be slowing down for a three-wave pullback, which we see it as a higher degree wave B). As we can see sub-waves A and B are already completed, meaning current intra-day weakness can represent wave C. Ideally wave C will search for support around the Fibonacci ratios of 38.2/61.8, before making a new rally towards higher levels. Disclosure: Please be ...

Base on Elliott's guideline of equality where if wave 3 is the longest, wave 1 and wave 5 should be equal, the DJI shouldn't go higher than 21785. Based on this we should be very close to a correction. A wave analysis of the S&P500 shows it is too close to a correction based on the same guidelines. S&P500 idea linked below.

Good morning traders. We are entering day by day in to the summer trading environment where liquidity is starting to be limited. Stocks are still sideways in US except Nasdaq and DAX which made a nice move lower last week. Todays calendar starts with BOE Carney soon and US ISM employment numbers later. Let's start with USDCAD. USDCAD is now trading in a ...

Have we already hit the bottom? It is quite possible. The $240 mark indicates a major support line, which will likely be tested again. If it is held we will need to knock out the trend lines one by one to get out of this bearish phase. If the $240 mark is not held, we will likely see an even greater correction all the way down to the $200 mark. Which then the ...

Bitcoin has been very bullish the past 2 months, broken through several resistance lines (1350/1550 USD) without too much hassle but all this positive volume is slowly coming to an end. Longterm fibs show us that we have hit the 1.618 (1872 USD) retracement and the next stop 2.618 would be at 3030 USD. A few reasons why we first need to correct and stabilize ...

This pair was showing an "A-B-C" correction the last week. Today, this correction was broken. Now we can expect a bullish movement till the top of the resistance. Then, after a correction movement, will probably broke the resistance.

Anyone waiting to get out, last chance would be around $2290.

USDJPY is trading bullish since 29 of June, when minor wave ii) was completed. We now see sub-wave i completed at recent high, form where a new drop lower occurred. We labeled this drop as blue wave a as part of a three wave correction that can take place within black wave ii. Disclosure: Please be informed that information we provide is NOT atrading ...

A dip in the NAS100 predicted by this simple technical analysis.

My current view on EURAUD Both ways are possible.

Traders, USDJPY is in weekly correction since 15.12.16, expecting to come to the end soon. -Price has made a higher-low ending at 88.6 Fibs retracement of previous impulse with an expanding diagonal triangle at C corrective wave or 5th internal impulsive wave of possible 1st wave, if finally price breakdown the pointed areas. Watch price at 110.860 if we get an ...

Lisk made a three wave pullback into blue wave (4) correction and later found some support at the region of the former wave four at 0.00079674 level. We know former corrections can usually act as turning points and in our case as a support. That said current rally can now be start of a new impulsive leg higher, with price currently trading at the beginning of ...

USDJPY made a nice bullish structure from 14th of June, which has ideally ended two days ago. If that is the case, then we now see a three wave consolidation in progress, with waves a) and b) completed and current intra-day weakness can be wave c) of two in motion. Current leg c) can see limited downside around the area of a former wave iv) at 110.64 or around the ...