GBPUSD - correction structure - ZigZag and Triple three comboAnother look at GBPUSD corrective structure and wave combination. I concluded that we are near to an end of correction with a Triple three completion. My previous count was discarded. None the less, looking for the same direction. But price has to make an strong motive move first before any entry is considered.
Correctionwave
USDJPY two possible scenarios. Triangle or ZigZag?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 pattern would be completed.
CORRELATION - PATTERN TRADE SETUP- ELLIOT WAVE (60m)Morning!
Looking at the correlations in excel for today, EUR/USD + GBP/USD have a very positive correlation (93.9) for the hourly
This means USD is countered, i.e it becomes EUR/GBP >
also waiting on retracement from the FIB EXT level of 127.20%, this will complete D,
and will be a good time to sell if the price reverses from that area.
Elliot Wave - I have included a correction, (0ABC)
Be conservative on your trading, and look for entry points around the white line (0,72887) via a retracement of 127.20%!
All the best in your trading!
CharlieFX
A nice Gartley Pattern in a Triangle on SPX500.Very Interesting R/R. A nice gartley pattern inside a triangle.
Possible C Wave extension(127.1) to 1741.9. FX:SPX500
Stop Loss above 2117. I would close the trade if a breakout occurs above the top TL.
Have a look at my take on the long term outlook in the picture below.
Good Luck trading.
Regards,
JK.



