I saw some analysys presuming GBPUSD would move up in the near future. However, now I do now see much evidence of possible strong upward impulse. We have 2 most probable options: 1st - there is a corrective Elliot wave which after impulse downward is possible, and 2nd - there is a new channel is being constructed, so the price would move inside of it. My advice is...
Waiting to see when this correction might finish for a big push down towards 1.12
SPCFD:SPX Believe I have narrowed down the choices to two possibilities on the Supercycle level: 1) Just completed Wave I of the new 2020 Bullish Supercycle* 2) Just completed Cycle Wave I of Wave 5 for the 2009 Supercycle* *I think that we are about to start the ABC corrective phase for either choice, regardless of what 5 wave impulse was just...
Correction to the upside seems to have been completed.. soon as spreads die down on Sunday night I will be going short on this pair.
Waiting to see if we can get some sort of double bottom pattern to form. If not then a strong break through the correction
Corrective phase looks to be finished aiming for the lows Any questions feel free to ask
Chart Patterns: Standard Elliot 8 Wave Cycle, Corrective Phase Entry price: 0.64128 Stop Loss Price: 0.64831 Take Profit Price: 0.62604 Estimated Duration: 2-5 Days Probability to Meet Target: 70%
With already being short, I am simply waiting for some sideways movement on a lot of the AUD pairs the beginning of next week. If a corrective pattern does form and I get a reason to enter I will go short and bring my current positions stop loss to the same place my new one would be. Any questions feel free to comment or drop me a message
Very similar price action to EURAUD, but due to how strongly the 2 seem to be correlated, I will only be taking the one that seems the best. Again also aware that it could form a much deeper correction before moving higher
I believe another big sell-off is inbound for EURAUD Seems like the market is just correcting now before a further push to the downside. there are different possible scenarios.. #1 we just break through from here. #2 we have a third touch of the corrective structure, and then we move lower. Will be interesting to see how it plays out.. either way I have my...
All explanations are in the chart. Please leave a LIKE and COMMENT if you enjoyed the analysis.
strongly believe this is due another correction.. It may come here it may come further down the line but when it does be sure to load up your shorts
EURZAR has truncation at Elliot's fifth wave and could be start with corrective waves. A truncated fifth wave, which is a sign of exhaustion in the main trend at next higher degree, is often preceded by an exceptionally strong third wave of the same degree. A truncated fifth wave is often fol- lowed by a swift and sharp reversal.
Could reverse at the point.. But on the larger TF's it is currently bullish in my opinion. See how it plays out
Hey Traders and Hopeaholics! Quick run-through current corrective structure from an ELLIOTT WAVE pov! TRIANGLE (YELLOW) Triangle formations are corrective patterns that are bound by either converging or diverging trend lines. Triangles are made up of 5-waves that move against the trend in a sideways fashion. These triangles can be symmetrical, descending,...
SHORT - 9617 USDt Triangle correction Wave (ascending Top Flat, bottom rising) 5° Waves. TP: 6917 USD.
Considering the following, 1. For the Fib scale M-N and fib scale L-N, the retracements 61.8(L-N) and 76.4(M-N) coincides almost at the same level. 2. For the ABC corrective wave, the AB part of the wave retraced to 38.2, so I believe BC should extend to -61.8(290.48), which also coincides with the levels mentioned in (1). 3. 281.47 is a key level and cannot be...