No major movement since the last update. We seem to be still in a wave 4 correction, which dies it's best to be as choppy as can be. Apart from the previous scenarios (either that 4 is in and we started the 5th wave of this 3rd down), dax started building what looks like a triangle, with higher lows and lower highs. That triangle can either be wave b of the...
AUDCAD price have broken the low of more over 1 year nad got into rebound. This is a possible correction, as it has completed Elliot Waves 12345 trend swings. We can see Elliot Wave of correction ABC up to Resistance zone near Fibonacci retracement level 50% at price 0.94488. And after correction continuation down into Fibonacci extention levels with first target...
Daily and weekly trends seem to be going up, while the monthly trend is going down.
GBP/CHF looks like it is making a contracting triangle in the wave 4 position. So far I have labelled this triangle as being in the middle of making wave e which is the final wave of an Elliott Wave triangle. I will be selling on a break of 1.4660 looking for an initial target of 1.4509 (38.2% Extension of wave 1-3) The second target is 1.4317 which is the...
EURAUD have break out of long term channel already got back to retest support trend line. This point of retest matches Fibonacci retracement of 50%. Nevertheless retest wave made classical Elliot Wave retracement ABC and now going to continuation to Target Zone to price level ~ 0.7000
After an ugly and long correction in fourth wave. Waiting for the break out of the trend line to en cash the impulse move in fifth wave.
GBPAUD optimal posible long setup as market got into support zone at Fibonacci 50%. This match with Elliot correction wave ABC. Thus could lead market long into Fibonacci extention -23.6% at 2.1442.
EUR/AUD in support zone waiting for long move after breaking out through 1.4727 level. This is Fibonacci 50-61.8% zone and the end of Elliot correction wave ABC. If break out happens, potential target would be at Fibonacci -23.6 at price level 1.523.
AUDNZD correction could be over with the ABC Elliot wave and after dropping into Fibonacci retracement level 50%. At this point I expect price go long until reach Figonacci extention at -23.6%.
Here i have drawn in two sets of wave patterns , one red and one black, both suggest the market is overbought and it is due for a correction. I have also identified a bearish gartley pattern completed recently near the top of the market. The gartley pattern allowed me to name the red wave pattern as the accurate pattern because the gartley pattern suggests a...
Here I see a price action trade along the linear regression line with standard deviation set at 2 and -2. I also believe this may be an Elliot wave cycle. If i remember correctly, the third wave, should be about the same length as the first wave, so i have placed my limit at the 1.618 extension of the second wave, just to be safe (remember, still learning price...
Target Level wave C 0.8274 Target Period 30 days Stop Level 0.85 Bearish divergence