EURAUD could move higher to complete minor wave 2 above 1.6800 levels. Before continuing higher, it is necessary to complete the minute correction that started at 1.6800 top.
With a low at 1.618% FE at 1.5900 round level, which is also a double bottom level, the correction could have either ended as a single zigzag or has another bearish leg down between...
We seem to be in a bearish pennant, a measured move sets us down at 7.2k, directly correlating with my past Gann projection.
A short corrective wave should follow to the upside should follow, ~8.8k-9.2k depending on the time frame.
Good luck and safe trading.
Not an expert wave counter by any means but can't make anymore sense out of price action then some sort of textbook impulse wave up from January 2019 into some type of flat pattern. I keep thinking triangle of some sort but not sold on that. It also doesn't appear to be an ending diagonal nor in the A position as a leading unless I'm missing a bigger picture. Well...
It looks like the corrective minuette wave ii completed or it's going to complete its bearish course near 1.7156/1.7300. The recent attempt to push prices down brought the pair lower where a subminute ,otive wave can be expected. This would add to validation components that could have minuette iii completed. SHould that effectuates, participants could look at the...
EURJPY is showing potential for some upside movement into my daily order block, with my target being the EQ.
I will be waiting for a small retracement in price to around 117.90 before entering this trade.
Once price has reached my target, then I will be looking for potential long term short set ups back down to 115.00 region and maybe further.
The NASDAQ100 (NDX) broke below its August 22 high and therewith invalidated its potential to do five (i, ii, iii, iv, v) waves up off the August lows. Instead it became only three: corrective. Namely, when a new move starts, even if it is five waves up or down, we can never know beforehand with all certainty if that move is an impulse (wave-1 of a 1,2,3,4,5 move)...
Swing Buy opportunity for XRPUSD
Buy limit activated at @ .27250
Notes: The last impulse to the upside took a while but played out eventually. The contraction/consolidation we’re seeing now is ideal for strong uptrend that would come - after a heavy fakeout down. There will be more eyes on the market now that big...
Closed the short position at -0.5R as a bullish pin bar formed on support in a corrective wave structure back to the downward sloping trend line.
Date Pair Direction Trade Trend Level Signal Entry
2019-09-17 AUDUSD Long Counter Trend Down Static Pin Bar break
The Price of Crude oil trade in between 50.50 to 58.50 from August 1st week. There is no clear direction, as per wave principle pattern looks like complex corrective pattern. Currently wave B going to be completed on coming weeks to form wave C. On this we can clearly see 53 mark acting strong support, Once again i looking for this level act as strong support for...
GBPUSD gained nearly 500 pips in last two weeks, I am looking this as corrective wave. Still there is room to go downside upto 1.1835 level.
Current pattern looks like DOUBLE ZIGZAG, this pattern reversal point @ 1.2570. Before that i am looking for price will test the 1.2200 level once again.
Dow Jones 30 approaching monthly and quarterly resistance zone @ 26700 -- 26775. Both medium and short term dow jones structure in corrective nature, So i looking for another wave down upto 24400 on coming months.
ENTRY & EXIT LEVELS:
SHORT @ 26700 || SL @ 27500 || TP @ 24400
My last update I ended with "Lastly, note that I label the larger waves as i/a, 2/b etc, because we can never know before hand if a move -even if 5 waves- in either direction is the start of a new impulse (i,ii, etc) or part of a correction (a,b,c) where wave a and c are also 5 waves... So to prevent hubris, always label them as both initially until the market...
I think that this may be a great setup on GBPAUD for next week. I noticed that the Elliott Wave has ended and I think that a head and shoulders pattern will lead it into a corrective wave.
The point of the head of the head and shoulders should be a good entry point for a long position. I would most likely take out a small lot size at the top of the head and...
Micron reached nice levels where to start building short position.
In worst case scenario $MU may fall as far as 70% from current levels, which is not absurd, given that the company is very cyclical, and global economy risks entering recession.
More prudent approach is to wait when bear flag would be broken below 40$, however, given current overbought level, MACD...
Good morning Traders!
On H4 chart, the pair triggered a beautiful rally by developing a bullish impulsive structure (12345), having said that, our analysis says that the structure could be completed and therefore it should be logical that some corrective structure appears (ABC, for example) in the short term.
With this in mind, it might be interesting to try to...
I am back with updates. Bitcoin once again is within a quite important range (between Monthly and weekly PivotPoint, yellow and red), and also already once failed a breakout attempt. Tendency from here would be simply more down then up, knowing that this is not really tradable right now, due to the fact we all know Bitcoin has alot of surprising potential....