AUDCAD reversed from a daily ascending trendline that lined up with 61.8 Fibonacci retracement of the advance from 0.8903 and broken out of daily descending trendline. Price also broke the daily counter trend line structure and it's currently retesting it inline with key support, and descending trendline. Price has the potential to move higher from or near the...
The five-wave rally from 119.25 in wave (i) favors the idea wave 2 ended at 119.25, and wave 3 is underway. It also set the stage for a three-wave correction, which is unfolding as a double zigzag pattern. I anticipate that wave (ii) will find support circa at 119.560 area, comprising the 78.6 Fibonacci retracement of the advance from 119.25, a key support...
Gold have been in a corrective structure since September of this year moving lower. I believe we are in a complex corrective structure and we are going to get another push lower in wave Y of the complex structure
I am looking for a buy set up, I believe we are in a impulsive wave with a completed 3 wave corrective flat structure.
I believe Oil is finish a "W-X-Y" corrective structure. It appear that wave Y could be completing a ending diagonal. I am looking for a reveral in price and a swift move to the downside
Gold is setting up for some really good trading set ups. Depending on what type of trader you are, Trend following or counter trend, will determine which set up is suitable for your trading plan. The arrows give somewhat of a map of the movement that I am expecting to take place.
I am looking at the choppy sideways movement in GBP/NZD as a corrective Triangle structure. This week I will be looking for price to break out impulsively pushing higher
Watch as I forecast Gold and identify potential trade set ups
Watch as I forecast potential trade set ups on the US Dollar
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The Daily chart of USDJPY reveals not only the recovery from 104.450, but also the preceding decline from 112.416. As visible, it is a five-wave leading diagonal pattern, labeled (i)-(ii)-(iii)-(iv)-(v) in wave 1. The five sub-waves of wave (i) can be recognized, as well. Ending diagonals form in the position of the first wave (A Or 1) of the larger sequence,...
Just as in the case of Gold (XAUSUD) analysis published previously; Silver (XAGUSD) seems to have formed a contracting triangle corrective pattern in wave 4 as indicated by the wave structure of the sideways price action in September and October and by the converging trendlines that connected the extremes of waves (a), (b), (c), (d) and (e). What is most...
Gold (XAUSUD) seems to have completed a contracting triangle corrective pattern in wave (4) as indicated by the wave structure of the sideways price action in September and October and by the converging trendlines that connected the extremes of waves (a), (b), (c), (d) and (e). According to Elliot Wave Theory, once a correction is completed, the price resumes in...