last week I posted on that usdcad is in a corrective move, and is currently making a final push to the blue box. However, this week we got another push down into the corrective structure, this shows that the correction is not yet over. assuming my count is correct we will be coming for a Z leg in the minor corrective structure before going northward for a Z on the...
a solid daily close above the trend-line would suggest a valid break out and would suggest wave (3) rally could be under way
note
alternative count in grey
Hello traders!
We want to share with you a pretty clear bearish pattern on EURAUD.
Looking at the daily chart, we have seen a huge spike up to 1.6550 level at the beginning of 2019, which we think was the top of wave 5/C, especially due to the decline that followed later and which can be already as part of a bearish reversal!
Looking at the 4-hour chart, after...
It all comes down to this correction here. How deep we go will be able to tell us if we will find new lows once more.
If we Correct no lower than a 0.382 of "3rd" wave, and particularly hang around the 0.236 before moving higher, then IMO this is without a doubt an impulse and we have likely seen the bottom.
IF we break lower and find our continuation of trend...
This is what I like to call a textbook setup. We can see the initial impulse on the left and then a corrective structure which has completed 4 waves and I am now waiting for confirmation of the second impulse to the downside. It is possible that there will be a 5th wave to the top of the corrective structure first but ultimately everything is pointing to the short.
It might be bit early to call the end of bullish rally since late December 2018. But we could certainly have a count that shows wave (C) of {B} has reached it's peak.
A 5 wave corrective structure has completed on USDCHF as I predicted weeks ago. I am now looking to trade the next wave to the downside where I expect the bottom of the structure to break.
Hello traders! Let's talk about Bitcoin.
Everyone is already turning bearish, but no one noticed a potential running triangle pattern.
Well, Bitcoin is trading sideways for the last couple of days, which more and more looks like a correction in wave (iv) that can be either a running triangle pattern or maybe even a deeper three-wave setback down to 4650...
GBPUSD is forming an expanding triangle in the daily chart. So this structure tells us that
this currency pair is in a down trend right now. I won't recommend anyone to short this currency because taking a short position right now would be a high risk, instead we should wait for the price to form a corrective structure or a pullback then sell this currency pair.
Now this is the bigger picture, as we all can see very clearly that a weekly flat(abc-335) structure has been completed, so there is a great potential for the price to go down in 5 wave structure. This is a great opportunity to enter short term position in USD/CAD.
Hello traders! Today we will talk about Bitcoin.
Bitcoin is trading bullish, but before a bullish continuation, we may see a deeper three-wave (a)-(b)-(c) correction back to 78,6% Fibo. retracement and 3500 level.
Due to slow price action in the last couple of weeks, Bitcoin looks more and more corrective in wave (b) that can send price back to 61.8% - 78,6%...
if first blue A-B-C = (A) or (W), second blue A-B-C=(B) or (X), then we can expect wave (C) or (Y) to follow.
e.g. Green 1-2-3-4-5 = (C) or pink A-B-C = (Y)
We know that
Wave (C) of a flat usually between 100% and 165% as long as wave (A)
Wave (Y) of a double zigzag often about the same length as wave (W) (or common Fibonacci ratio o.618 or 1.618)
Both...
