Positive divergence and oversold. Price likely to rise especially due to DXY high chance of pullback. Buy the breakout or at 1247. TP 1299. SL 1229
We are still in a long position that has been carried throughout the week. If an (e) wave has just formed then we are likely to see a bounce off the lower channel trendline. This is a riskier trade so a small lot size should be taken if you are opening a trade now...
USDJPY has recently broken the descending trendline on higher time frames telling me this price is at the beginning of a bullish run. We do however expect there to be a substantial pull back which will allow the more aggressive traders to take a sell position around 103.600 on a re test of the neckline of the head and shoulder reversal formation. The conservative...
We are shorting here and again if the price reaches the 61.8 fib retracement of 5th waves first Bearish impulse wave
FOMC meeting has caused USD weakenss which caused the completion of wave 4. Wave 5 could unveil from here so shorting this pair is a logical idea
A nice motive phase was completed followed by the current corrective phase. It appears we may have formed a C point of the ABC corrective phase, at the 123.60 fib extension levels.
It's likely to have a long flat correction in wave (4).
I've got four longs so far and I'm going to open the next one during the current correction.
We've got a bullish impulse in wave (i), so there's an opportunity to see another upward wave soon.
There's a possible diagonal triangle in wave 5. If we see a pullback from the MA, there'll be an opportunity to have another decline.
We are probably in the 4th wave of a 5 wave structure. Therefore the price will retrace to the calculated confluence zone to end its internal subdivision ( wave C ).
This pair has completed a 5 wave moved downwards and is now in a corrective structure. It is a possible a flat (3-3-5) stucture has completed which may give us a chance to go short on a break of the ascending counter trend line. Alternatively, we could see the price from point C and re test the back end of the trendline. Decent Bullish doji's are forming so I am...
"trade what you see..."
It's fun to decode gold moments using Elliot Wave principle. Precious metal never gives what we want. The last week bull was very predictable. The "bearish" move yet to began. It can be impulse or correction. I love to get that. I have very difficult plan for this week. It's not easy to digest when we face NFP this Friday. Let's wait. Looking for a level which...
AAPL’s gapped up post earnings and we are heading into the wave ii resistance zone . We have a fib. cluster of 61.8% , 100% and 127.2% retracement from the 103.5- 105 level. Wave 3 Short Target 161.8% fib. extension with a Risk/Reward Ratio of 8.48 Important, move stops to break even if AAPL drops to $100 level
Hi Guys, This USDCAD trade idea is posted solely on basis of Elliot wave theory and we are planning to catch wave 5 on downside. Currently the price is exactly in the resistance zone marked and we can expect reversal as RSI is also getting overbought. So if it suits your trade plan , plan your risk reward and enter short in USDCAD. Hit Likes if you...
Greetings traders & readers, This Analysis for the JULY contract is special because this is a part of our exclusive service Premium trade setups. To learn more about the Premium trade setup (PTS). click the link below, www.mytradingcourses.com Now lets deal with the analysis in weekly time frame and just understand what is happening over there. We have already...