Bear with me (pun intended). I know I'll probably get some slack from the 5 wave correction counting of wave C. Most people would place the 3rd wave in June instead of May, but a few things suggest me that the 3rd wave down was actually in May:
This C wave lies at the 123.6% extension of wave A which is a common area for the Expanded Flat correction.
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Russia announced they will extend pledged oil cuts through 2023.
Saudi Arabia will cut oil output by 500,000 BPD from May
Crude ready to extend move next week, possibly above the trendline resistance?
Weak USD and strong stocks can certainly help
Bitcoin has Formed a Peak during after a 5th wave while trading at the top of a Broadening Consolidation Structure and showing Bearish Divergences. If things were to go as one would expect, I would think BTC should have around a 20% pullback to about 23k which would take us back to the POC and would be a 61.8% Retrace of the Local Low to High. If we can then begin...
Hello everyone,
Above I have my analysis for EURUSD. As we can see in this photo, EU has been on an diagonal downtrend for some time now. Recently, price has broken structure of the uptrend trend line and now in the process of retracing and forming a corrective wave. In the screenshot we can see I put the Supply and Demand zone, this is where we will look for...
According to the wave perspective, I assume the dollar is making a correction. In my opinion, there are two possible correction patterns at the moment: flat or zigzag to complete wave B before continuing to make wave C.
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**EURJPY Analysis - Listen to video!
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**EURCAD - Listen to video!
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Hi traders, USDCAD is setting up for a upside move i am expecting from price to come around our mentioned pattern completion area and looking price action for a long position opportunity, if price break 1.39753 level without hiting our mentioned pattern completion area then this setup will be invalidate.
Trade with your own strategy GOOD LUCK.
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**USDCHF - Listen to video!
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Hello everyone,
learn how to catch the end of wave 4 and trade with the trend.
This corrective wave has made a double bottom on 0.76 fib of the previous impulse movement. The double bottom was achieved with an engulfing candle (entry point). Cut your loss below wave 2 (wave 4 is not supposed to retrace that far), and catch your first profit target at the retest...
Hi traders, EURUSD is setting up for a correction wave. I am expecting a beautiful correction from the EURUSD and hit the upper trendline and 0.618 fib level. Incase that is not happend maybe my view are wrong so then if EURUSD breakout to the downside trendline then it can go to a previous low and form maybe a double bottom scenario GOOD LUCK.
US30 UPDATE
The Dow jones is over extended to the downsid since the recent massive bearish move which we capitalised on. On the Left we can notice price is testing a very strong level of Weekly demand, in which i would expect a reaction from buyers.
On the right on the 4H chart notice how yesterday price swept the liquidity below the floor that was created, now...
The 2nd possible scenario is called expanded (irregular) flat scenario. You can google what is irregular (expanded) flat.
If this scenario to be valid so the top (B wave) should be between 141.184-144.120 (fibo 127.2%-161.8%) of wave A. Then the wave C whenever the market corrects after wave B would be 128.083-125.147 (fibo 127.2%-161.8%) of wave A.
I wish u...
For a very long time, since 1993 GBPCHF is in down trend and it has created completed the 3rd wave on 1 august 2011. Till then its in a flat correction for the 4th wave of the circle. And for the 4th wave its forming ABC pattern while A & B of the ABC flat correction is also completed and moving for the C leg of the 4th Wave. Today is 15th August, and historically...
