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...
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
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.
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Now lets deal with the analysis in weekly time frame...
SPX rallied strongly in what looked like a giant short squeeze and broke the green line (see previous idea). Also spiked above the melt-up channel. So that only leaves 1 bear option and one bull.
After the spike above the melt-up channel, it reversed strongly and now broke below it. Which is a bearish reversal, in my view. Lows at red "or 3/C" should be taken out...
The picture is still bearish following the Brexit crash, but lots of options on the table as of now.
We have 3 waves into the lows, so the bullish option is that a simple a-b-c correction finished at the lows and now we should go up (I see this as the underdog as of now).
2 bearish options open now:
- most bearish is a bear nest - a series of 1-2 waves which 3...
Bought a call option at the bottom on wave 2.
Buying options for this trade to expire at the end of the week because this isn't a fast moving pair, none the less I think this is to rise up to 82.00 ish
The Chart deals with weekly time Frame
As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z...
Simple Elliot wave formation and we can clearly see that Wave C is yet to form
The trendline marked offers strong support to price and if its broken a good downward move is possible in HCL Technologies Limited. Can bounce up on trendline touch so watch closely.
Check your stops and targets before entering the Trade.
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