Trade idea for GBPCHF shown here. However take note of strong resistance zone ahead in the week for potentially choppy, time-wasting, account quivering movements shown just ahead
Pulled back just like we thought, and has just completed the 3rd leg a Elliot wave A-B-C corrective wave. Also is wave 4 of the bigger wave. We have piercing pattern candle completed too, with a bullish confirming candle.
Elliot says wave 4 cannot retrace into the high of wave one, so if our count is correct, we have a nice tight stop of $.15 to $.20 and we can...
bit.ly
GBPUSD has been range bound since the 16th of January 2017 (where it formed what looks like a double bottom with a 6th of October 2016 low) and has been trading in a range ever since. However current price behaviour indicates reaction at very strong resistance level and we will really depend on price action around technical levels to guide our decisions...
Bearish Shark Formed
I think the extended W#5 is completed by the breakdown of the blue uptrend line .
Currently we maybe in a bearish correction targeting the 0.618 green fibo level
The long trend line (2015-2016) and a recent parallel line keep proving this good range trade.
While EURJPY appears down down, it is actually in the reload zone recent fib study. This zone has been verified multiple times as has its 1st stop.
I have 2 orders, EURJPY, long today with exit at and just above the 1st stop.
Be buyin when theyre cryn.
Hello everyone, we have two pattern at the moment I am looking to short this pair towards the highlighted targets.
For any questions leave a comment or DM me.
Good Luck
Bias for bullish direction
- Possible ABC trend continuation
- Daily Bullish rising wedge pattern due to make new highs
- Completion of bullish cypher pattern
Risk
- Break below orange 0.382 Fib would show more correction to the 0.382 Larger timeframe fib
