USDZAR is currently forming a larger correction that I initially anticipated. This means that the correction that I had looked at before as being a 3 wave correction, was actually only wave 1 of the larger correction. Looking at the current setup, I expect price to break the low of wave one, market with the red line, before there is a reversal to the upside. I...
Today we will talk about Ripple (XRPUSD)!
As many cryptocurrencies, even Ripple made a strong five-wave rally in 2017, but in EW theory, after every five waves, a three-wave pullback follows!
Well, seems like Ripple is trading now in that big and deep (A)-(B)-(C) correction for 2018 and probably even for 2019, ideally back to around previous...
Expecting a new record high for major equity markets(DJI , SPX , etc.) till september-october '19.
After that another deep correction may follow that highs before the new economic expansion phase.
I believe the worst is already behind , bottom was formed in 2018.
TP for Longs : 28.000-29.000
Correction Deep Target : 23.000-24.000
Before any of you jump up and scream, "That's not how you identify a pattern!!", namely the Bullish Gartley (***which may or may not be in formation***) is just an imaginary depiction to support the case of Scenario 2.
Scenario 1 - Bull Trap
Scenario 2 - Continued Bullish Momentum
Scenario 3 - Bear Trap
Scenario 4 - Long Due Correction
Scenario 5 - RIP?
1H Chart Explanation:
- Price broke the Descending Trendline and is currently on a Bullish Corrective Structure.
- If it breaks it, potential to move up towards the Resistance Zone.
Check out our Top and Bottom Analysis on the Related Ideas.
Updates coming soon!
I believe we are forming an Elliot wave and will be looking for buys on USDCHF at around 0.9700.
I will be placing an order and expecting a snipe trade straight into profit.
If I was to be more conservative I would wait for a bullish candle on 4H.
My analysis predicts we will have a corrective wave from 0.9700 to my highlighted zone between 0.5 and 0.618 fib...
Price action is not much interesting on this pair, Still moving on sideways only. As per wave analysis corrective B wave not yet complete, One more leg downside is possible upto 1.1175 to 1.1160 support zone.
Fed meeting also quite interesting factor,we will check out the technical's to work or not.
We can clearly see Hidden Bearish Divergence forming on this pair and also wave count also suggest more downside is possible on short term. I am looking for final leg of medium term corrective structure downside.
SIDE : SHORT
Entry @ 1.00127 -- TP @ 0.9711 -- SL @ 1.01270
As per my wave count GBPUSD found bottom @ 1.2508 to 1.2500 support zone. From here we can expect impulse C wave upside of this corrective structure.
SIDE : BUY
ENTRY @ 1.2508 -- TP @ 1.2800 -- SL @ 1.2400
Last Week GBPUSD fell below our support level of 1.2605, Price action showing more downside on Pound. As per my Wave Analysis GBPUSD trading on Corrective ABC pattern on short term. Ahead of FED meeting pound fell to 1.2530 level to finish this wave B of this corrective structure.
As expected last week EurUsd fell to support zone of 1.1215 to 1.1200. Still this pair finding strong support to surge upside.
As per my Wave count still EURUSD trading on short term corrective wave of B. This Wave B find support @ 1.11180 to 1.1160 level.
Iv'e been waiting for this setup to confirm for a while now and have just entered the long position. Looking at the structure indicated in blue, we can see the initial impulse wave on the left of the chart, indicated by the first blue arrow. Then we can see a corrective structure which is in wave 3 to the downside at the moment. I have entered the long based on...
Yesterday close below medium term support level @ 1.1290. I am expecting sellers gng to push the market downside to 1.1200 handle.
As per previous post on EURUSD price rejected by previous week close @ 1.1331 fell nearly 50 Pips from yesterday's high. In medium term term EURUSD trading on complex corrective pattern, the corrective structure follow...
GBPUSD fell into complex corrective pattern. This week Pound find support @ 1.2655 level and could not brake the previous week high. I am looking wave C of B downside upto the support level of 1.2605.
We can clearly see UsdChf formed double bottom on major support level @ 0.9860 on short term. As per wave analysis this pattern looks like ABC corrective pattern, Already wave A and B are completed. We can expect wave C upside upto the resistance 1.0010 level.
Side : LONG
BUY @0.9894 -- TP @ 1.0010 -- SL @ 0.9840
Over all around world Equity markets are Gained some percentage in 2019, Nifty also gained nearly 15% from low of this year. But we looking in the medium term pattern Nifty in ABC corrective pattern.
This ABC corrective pattern reaches its saturation point as per my point of view. I am looking for 12230 to 12250 level act as strong resistance and...
From starting of 2019 we can clearly see equity markets around the world gained some percentage. As my point of view equity markets fell to sideways to downside on coming months.
As per my wave analysis S&P 500 trading on corrective ABC pattern. i am looking for reversal should happen @ 2920 to 2930 resistance zone.
My entry for Coming...