Bearish wave IV is in progress as an ABC ZigZag , Currently The bullish AB labelled by red box Wave is forming
GBPUSD chart is quite self0explanatory,a s per the wave count shown on the chart , the elliot wave has completed and just started the corrective wave (c), We have double bottom also providing support, GBPUSD retested and bouncing back from zone around 1.2930's. After checking your trade plan initiate longs. Happy Trading !
AUDCAD 0.03% currently appears to be in a smaller corrective structure at moment. Wave "c" appears to have just completed and an impulse wave down from the upper trend line has begun starting wave "d". I am expecting a possible buy setup and the start of the wave "e"/completion of wave "d". Watch for the buy setup if the wave "d" is completed. Thanks for looking...
In AUDUSD we have ascending triangle formation, on simpler logic after every consolidation there will be a good move which happens out of breakout. I'm not strict elliott follower, I just use that for my analysis to support the decisions I'm gonna make, not to determine direction also. Sometimes rarely I used that to determine direction of Market. Its just My...
Looking for a long opportunity with FX:USDCAD The divergence isn't perfect but it's still oversold and this pair has been making higher highs and higher lows on the daily chart for the past 2-3 months. 1.2900 price action number acting as a rebound should help this pair continue upward. Happy Trading
Another stock in the list of us energy stocks we have been watching. However this one appears to be on the brink of breaking through the lower trend line. We will be keeping a close eye on this one through the week and once it breaks through will be watching on a lower timeframe for a retest & rejection or a consolidation and then sell.
How to trade this wave : i) We can enter long at correction wave A on retest of trendline around 0.7200's for a target of 30pips (0.7230's) in NZDUSD ii) At B point enter short @0.7230's with 30 pip stops, for Targets around 0.7160's (70pips) iii) If all goes fine, we may pocket 100pips in NZDUSD alone today ! Though in charts everything is marked, there are...
The correction wave in AUDUSD is very clear now and composed of wxy. I see there no space for more advance here unless the the top is broken. However the price at considerable resistance. we will see next week how will the internal structure of wave move?
We have been watching the us energy stocks . This stock is different as most of the others have been in a corrective structure since the start of the year, following oil. As you can see from the chart VLO has been falling since the end of March. As with the others it is still in a corrective structure right now (though only since July) so it makes a good...
As with all the other us energy stocks we have been following they're all in a corrective structure. Like all the others Sunoco is currently in a corrective structure. One option is to sell off the bounce of the top of the triangle. Alternatively we will be waiting for a break of the lower trend line. Once it breaks we will be watching on a lower time frame...
NOV is another candidate from the list os us energy stocks we have been watching lately. Like this others we believe it is currently in a corrective wave and are waiting for a the next impulse down. This one doesn't have as clear lower trend line so it's not going to as easy to identify when it meets our conditions to short compared to some of the other us...
Phase # 1 Incomplete Wave 4. Go to LONG. Take Profit at 1.4237 Phase # 2 Future Wave 5. Go to SHORT. Take Profit at 1.1747 Phase # 1 Begin a Corrective Waves. Go to LONG. First Take Profit at 1.3116.
Two reasons to consider the USDCAD in downtrend. 1. This is last wave (Elliot Wave 5) of Basic Motive Phase. 2. Then here begin a first wave (Elliot Wave A) of Corrective Phase. 3. This is second wave (Elliot Wave B) of Corrective Phase. Note: This wave have inside two Elliot Wave. a) Bull Market Truncation (Red Color and Completed) b)...
Hi Guys, EURUSD has formed perfect ascending triangle and most of the times ascending triangle breaks out downwards. Here in the above chart we have strong close below the support trendline of ascending triangle, so we may expect direct move downwards to retest the earlier lows 1.0910's. Even if you draw an abc correction wave it matches with our breakout...
Even after the shakeup of Brexit the larger corrective structure continues. I have been following the ABCD structure from before Brexit and it seems as if the count is still valid. Based on this I will be looking for a long trade in the next week. The smaller ABCD of the larger AB leg could indicate that on NFP this could result in a spike down (grey ABCD) before...
Last week I posted a view of the EURUSD corrective structure. Brexit resulted in a quicker finalization of the D wave of this structure than I had expected. So this week it looks as if the market is entering the last of the corrective ABCs. So I am looking at the 1.13 level for resistance before a move back to the 1.10 level and the final leg up before we break...
We are in a corrective phase on the EURUSD with what looks like a contracting triangle forming with many ABCD patterns. We had a bounce of the bottom of the cloud last week and looks like we will be going long aiming for the long-term trend line in the coming week. Then a finalization of the D wave to resistance at 1.1000 level. Hey but the Market can do what it...