In my previous post i thought price action would reverse at the powerful 6.18 fib now it seems that price must show some bullish direction after hitting the 786 any movement below the green support szone would make my analysis invalid. If i get stopped out thats fine, decent risk to reward if price goes in my direction
Hi Traders, Here we go, simple idea. I got on a trade in the flag before but touched my brake even stoploss and now I placed this sell stop. Hopefully we will get a brake and get a nice one down. If it does not brake...I may start looking into buy set ups. Carlos
The chat boxes pretty much explain it all! :) Also my thought process of what "Wave Theory/Principle" is and isn't in regards to "predicting" the market, no one has the crystal ball, just tools to help turn a shitty ass piece of Crystal into a bad ass trinket that you can sell for loads of money... or just high probability low R/R setups. Whatever you're into :0...
Watching, and waiting. Let's see what happens! Happy new year everyone!
Identify - broke year long consolidation - 5 wave impulse down - ABC corrective wave forming - Break above wave a would confirm wave c
Identify - Bull Run seems exhausted - Candlesticks aren't as strong Predict - If recent price action fails to make a new high than we might see some corrective structure - Price action could only form a small flag and still push to make new highs past 0.5 Fib Decide - Counter Trend, so trading this is risky.
Price has made it all the way back up to the top of the daily corrective structure. For now I anticipate this structure to hold. I used a parabolic exhaustion move into the 1.45100 level to enter my trade. Will take first profit rather quickly and move my stop down to 1.45150 if this rejection looks healthy. Final target will be at the bottom of the corrective structure.
Hi Traders, In the team we have been analyzing this pair for a long while, we did a nice short position from last minuete b until today, 800 pips in two trades. Now we are willing to save the profits and wait for the new uptrend move, clearly going to happen, but we are not sure when, we could get many types of flat corrections going on (regular, running or...
We can see price has been consolidating for quite a while. It's only a matter of time before the next big impulse happens and I want to catch that move when it happens. Going to watch on lower TF for an entry! If you're with me heck yeah and If not let me know whatchu thinking :)
Waiting for some sort of impulse towards the downside. Be patient.
Potential for more downside short term to under 30 before continuing to rally to upside next year.
Hey Traders! Here's a chance to make a good profit in the next 48 Hours. Specting a brake of the triangle, sell the brakeout and you can target a good ammount of pips! Carlos
On the 60mins chart, It's making a correction for more down side. It will be a really good sell when it break the correction. Good luck !! Like if you agree and comment if you have alternative analysis. Thank you.
Hi Traders, This trade set up is for GBP/USD based off of the 4H chart. Now we can see price action failed at the 61.8% Fib level on 3 occasions over 2 days. This failure supports the theory that price action is simply taking a break from moving up after a long period of gains. The market appears to be rejecting any further decline past the 61.8% fib level...
Hi Guys! In the Palm Traders team we are looking for a big sell in USDCAD due to this Primary Cycle. We are going down from where we think it's the ending of a primary corrective structure (ABC). We had a reversal and now a flag consolidation, so we will be paying attention to smaller timeframes to enter a short position and get a few hundred pips! Carlos
Looking for a pullback to around 1.25800 to go long with tight stop and primary target around 1.26170. Extended second target around 1.28.
The bids came in heavy around 1.23, catapulting price up to 1.25 in a short period of time. Looking to go long on pullbacks towards 1.2450-1.2460 with primary target around 1.25 and extended target at around 1.2650.
Potential for a nice short trade of 200 pips or more from this setup. Just broke out of the daily corrective structure to the downside. Now in a period of consolidation and moving sideways in the market. Will be looking for a break of the consolidation on the lower time frames to get an entry on this one. Let me know what you think.