Buy the breakout to the target at which AB=CD is formed
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
We have an Inverse AB=CD Pattern which is equal in lengths , while the CD Leg is formed within 6 days more than the AB leg , It is kind of an ideal pattern formation i think which suggesting a strong bullish move From Elliot Wave Analysis also , we are currently in the bullish correction phase The price action is currently at the support of a strong up channel...
Buying opportunity at the drop to 38.2% retracement.
US Oil underwent a complex correction. The correction wave is quite clear now. We can now see the beauty of elliott wave analysis. The first correction is a regular flat for CLM2016 (Oil contract at May). It is an expanded correction for oil continuous contract see below (usoil or CL1!). The second correction is a zigzag 535 ABC. Currently oil gets supported...
Despite its choppiness since the start of this year, the NZDUSD pair has traced out what may be considered to be a respectable impulse wave. By this count, wave 2 and wave 4 held at their respective 61.8% retracements of wave 1 and 3, and wave 5 is an ending diagonal whose subwave ii retraced a bit more sharply than normal. Additional reasons to believe that the...
I count a possible double zig zag with a bearish ending diagonal C wave. Markets feel toppy, markets look toppy...If we continue to break down out of the channel, Im guessing we could see similar lows to last month (and most likely continue to fall) For this play, a safe stop is this months top ~ 2080. Target 1820 (for now...)
The market have got into the possible reversal zone projected by Fibonacci external retracement levels. This zone also contains major and minor trend line cross. Fibonacci time extensions from last medium degree highs pivots as the wave B and wave 1 appear to match possible reversal day with in the wave (iii), and previous highs of wave (3) and wave 1 Fibonacci...
Oil is in the middle of medium term Elliott wave 4 corrective range (flat) pattern. As the wave (a) unfolded in to 3 (abc) pattern it have high probability to be the ranged 3-3-5 pattern with a possible break out up side in the last wave (c) to reach at least Fibonacci retracement level 38.2%. As the previous time periods and Fibonacci time extensions match in...
Gold was in rally almost all the month, but according to Elliott wave count it is in the corrective wave of 2. It can be deep correction and even the double top could be done here. Now it is at the last minor Fibonacci retracement level of 88%. Trade idea: 1. First position will be taken as the reversal confirmation from price action, reversal bars or reversal...
Gold was in rally almost all the month, but according to Elliott wave count it is in the corrective wave of 2. It can be deep correction and even the double top could be done here. Now it is at the last minor Fibonacci retracement level of 88%. Trade idea: 1. First position will be taken as the reversal confirmation from price action, reversal bars or reversal...
FX:EURAUD 1. Double top 2. broken neck 3. found support at 1.5353$ 4. 61.8% retracement / that completes a 2618 setup / double top followed by a 61.8% retracement 5. Eventual wave 4 of 5 of a corrective move 6. Wave 5 ends with a cypher pattern at daily support 7. Wave 3 of 5 of an impulse with the default ratios / wave 3 = 161% ext of wave 1 8. ascending wedge,...
Good morning traders, This is our view on GBPUSD pair for today Monday February 1, form SBSOTCKS.COM trading room. IN A NUTSHELL: Last week the GBPUSD have broken a significant up trend-line to the downside with a very big volume. Market today is retesting the breakdown are. CONCLUSION: Short on GBPUSD is highly probable TRADE INSTRUCTIONS: see the chart
Hey there guys! Since I have a sell setup in NZDUSD at CMP, I am looking to buy EURNZD. The price action coming back to previous structure zone. Making a correction after the impulse leg. I am expecting an upside move from the structure zone area to touch the retest of the impulse. Price acton also trading above the EMA's thus indicating a bullish bias. We also...
On the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish...
We can talk about all fundamental factors and how they can effect the bond prices and so on... But this monthly chart look like traditional Elliott wave pattern from the book. Now we see major impulse pattern have finished the 3 (blue) wave and shown first corrective wave. If the ECB will make unexpected moves it could force the last corrective wave down. There is...
a breaking in corrective structure (yellow lines) will result in a big upward move.
WTI oil is in strong strong down trend as fundamental from OPEC and others pump oil into over supply. Companies fight for the market share and survive and battle conditions seems to be the same for a while. This fundamental view is supported by Elliott wave impulse pattern unfolding down into the last wave 5 (brown). This impulse pattern is the last wave C (blue)...