The ABCD pattern is still continuing. After the BC correction of the smaller ABCD pattern (Marked in grey) I expect the market to compete the CD leg of the smaller pattern. This is also the AB leg of the final leg E of the larger corrective pattern. So for next week I will be trading long and expect this to continue into the following week before a spike down...
The corrective pullback on the daily chart after a strong move suggest a bullish continuation and another attempt of breaking through 1.13000. One option is to go long at minor support within this bearish channel at around 1.11400. The second option is to go long at the bottom of the channel for a more conservative play. The first target is pretty conservative...
Trade idea only. Won't trade this myself due to the upcoming NFP. I also do generally do not trade on Fridays.
Tight corrective structure after strong sell off indicating the sellers are still in control and pushing against the buyers. Even though price is overextended on the higher time frame, most likely we'll see another push down before we get a bigger retracement/correction.
Breakout of a tight corrective structure. Potential follow through after a re-test. Since this is a counter trend trade, targets should be smaller than usual.
Wait for the close of the current candle below the SL red line Then wait for a reversal in the price action by a specific reversal candlestick pattern The current bullish move is supposed to be just a correction , just wait the correction to be formed then trade its break down SELL THE BREAKOUT DOWN TO THE TARGET
First time I'm attempting to read Elliot waves and us them in conjunction with Ichimoku. Seems we are in a corrective wave after the 4/12 high point near 100% fib, with a sensible goal set to the flat-top bullish cloud, which also coincides with the 61.8% fib for the long-term range the EURUSD has held.
The price action on this index indicates that the buyers ares till present in the market, keeping price levetating within a small corrective channel above 17850. I am expecting another impulsive move towards the even handle around 18000. If buyers are able to push beyond that, 18150 would be up next.
Since March 18 2014, FX:XAUUSD is experiencing a down trend corrective structure, and still in this trend. Since May 05 2015, XAUUSD is going to complete a Cypher Pattern. Coincidentally, the end of Cypher Pattern and the upper of the Corrective Structure are both around 1190. Now the price is around 1155 (50% level of Fibonacci, XA) Buy at 1170 ((61.8% level...
GBPJPY was in a corrective structure before 22th Jan. It experiences a breakout at 167.90, and change its long term downtrend. Now it has passed 23.6% of Fibonacci (from 163.98 to 184.97) Buy at 172.04 SL 164.02 TP1 177.04 TP2 180.11
Corrective structure on EURUSD is developing into a double three formation. So another move down is of high probability. But even before a sharp move down we might see a sideways movement for the whole of next week. None the less if this structure is broken with a sharp move up, I will be looking for long opportunity. Until it does that, I am looking for short...
On the daily TF, we are in the midst of the fifth and final wave of an expanding ending diagonal, counted as C of an ABC zig-zag correction. The monster buying opportunity will be at the completion of this C wave, however, we may be presented with a short term long opportunity with a R/R of 8.5. The current count is wave-b-of-(c) in a potential flat correction...
EURUSD is currently rallying with a second impulsive wave toward the top of the declining channel. The pair may see some resistance at these levels as wave-(c) did not surpass the start of wave-(a) and a sideways symmetrical triangle may be underway prior to the continued rally. The channel resistance may add to the bearish bias at these levels. I am still...
The FX:CADJPY is in a 4 hour corrective structure. It looks like downtrend in these two weeks. Now it is experiencing a short term uptrend. Sell at 81.40, stop loss 81.70, take profit 79.50.
EURAUD has entered a corrective structure after completing a five wave impulse. This iis a setup to trade iii of c toward the completion of a bullish cypher pattern. The cypher PRZ is confluent with previous fourth wave support and the 50% retracement of the impulse. Entry is triggered on the break of the trendline with SL above structure highs and target near...