Elliott wave Bearish Outlook Bullish 121 , Swing Buy The breakout of the orange channel , It is assumed to be a small bullish correction
Sell The breakout of the blue Support
Expanding ending diagonal of wave 5 is in progress
Ending Diagonal
There is still strength in the EUR!My previous count had the EUR USD making a new high to complete the 5th wave of an Ending Diagonal at 1.07750 but this hasn't been confirmed as there is still sideways movement which only points to an incomplete move so this is my recount.
Current Wave: Short wave c of wave 4 of an Ending Diagonal is currently in progress
Next Wave: Long to make a new high at the termination of wave 4 to either hit 50% or 618% retracement of the bigger wave (1) as marked.
Forecast Wave: Once the high is made, expect a sharp start to wave 3 which will be signified by a 5 wave impulsive move to the downside.
There are still pips to be made on the up side but it is prudent to wait for the completion of the wave 5 of an Ending Diagonal where the potential pip gains to the down side could exceed 1000+
Feel free to comment and share your thoughts
Happy Trading!
ENDING DIAGONAL IN AUDUSD - 4H CHARTHey guys,
Here's a perfect chance to make some pips on a short position.
5th wave extension turned into an ending diagonal.
I expect one more move up at least in the structure and then a brakeout downtrend until the support level aligned with the end of 4th wave.
Carlos
NEW IMPULSE IN EURNZD - DAILY CHARTHey folks,
Here's a move I have been analyzing since Novimber 2016. And now all the patterns indicate the start of the new impulse.
ABC correction almost done. C wave is a perfect 5 wave impulse down and the fifth wave is an ending diagonal. The main correction is even an ending diagonal; however, we are looking into the small timeframes for those.
I will support this idea with a 1H chart analysis.
Carlos
EXPANDING DIAGONAL IN GBPCHF - DAILY CHARTHi Guys,
Long time since the last post. It's christmass so I have been spending some time with my family.
Here's something I have analyzed for the last 2 weeks.
Daily Expanding Diagonal, weakness of the downtrend.
So I expect a brakeout of the structure, if it goes down to bottom trendline I will manage a trade from there and then hold it after the brakeout.
Carlos
Possible long-term scenarious for EUR/AUDThis pair is giving me some hard time in terms of its future behabiour. Despite the fact that I am pretty sure it is going to move higher at the moment I do not have a clear picture of when it is going to happen.
This is why I have two bullish scenarious. Either it makes one more down move and then takes off like a rocket or it has already taken off and you need to wait for a retracement to get in.
By the way the pattern under scrutiny is an ending diagonal.
EURUSD. Alternative count. Ending diagonalDXY shows similar structure and this forced me to challenge the triangle and more expanded flat idea.
So I decided to share this count to show alternative count.
Lets see how it goes.
Gold (XAUUSD, GC1!) Ending diagonal. Reversal is soon.This is the possible wave count for the current gold market structure.
Break above the downtrend would initiate the reversal.
MACD is already in divergence with the price.
Possible ending diagonal for AUD/USDThose who are aware of wave patterns might want to find clear similarities between two encircled areas.
The pattern under scrutiny is an ending diagonal which could bring AUD heavily down.
Those who trade momentum indicators could turn them on and discover divergencies on 1H up to 8H.
Even if the pair is eventually going up it will have to retrace some more which I want to believe will happen due to the consequences of this ending diagonal
Gold Possibily Forming an Ending Diagonal!!Gold - XAUUSD is Possibily forming an Ending Diagonal in a Wave c of a-b-c correction which will also potentially complete Wave B or 2 of larger Wave Count completing the correction of over all rally from 1150 to 1375. Gold has corrected in a 3 wave decline and is not around 61.8 fib retracement levels. MACD is giving Divergence on smaller timeframes 240/60 giving indication of current declines coming to an end soon.. The current price action suggest that Gold is forming an Ending Diagonal which is almost complete or might go up and come down little once more before breaking out of it.. One can take long positions Gold once the price breaks out of Ending Diagonal and keep it for long as this could be a start of another Rally going higher than 1375 and probably towards 1500. Its a very nice risk reward entry now to go long.. If it goes down further and continue declining further then my analysis might be wrong and I will not take trade as suggested above and wait for other confirmations.
UKOIL. Alternative count. Ending diagonal CWith the recent strong upmove it is quite possible that the wave (C) is already underway.
Ending diagonal 5 waves is shown in the chart.
The (C) could hit 0.618-0.786 of (A)
GBPUSD, Ending Diagonal? One more up or down?It's alright to miss the short term buy. But when it starts to break the
Ending Diagonal looking structure, Don't Miss The Sell !!
DLTR. Ending diagonal. Possible wave countEnding diagonal in wave 5 position.
I guess its a wave A in ABC correction.
But it can be a new trend down therefore it can be 1-2
Anyway long on break up could make a benefit as target could be within 91-99 marks (61.8-99% retracement)
DXY. Slow and painful rise?This can be an alternative count.
The painful and slow rise inside of the Ending Diagonal amid rate hike indecision.
ABC moves in 3-3-3 are expected.
AUDUSD POSSIBLE WAVE STRUCTUREHi Guys, this is one possible way I see this structure developing. I am still looking at the up wave as corrective so one more impulse is in the way. If it changes I will update.
Trade with care
Thank you for support.
NZDUSD understanding wave structure and how they behave. Hi Guys , please click on the chart tagged to see all the previous updates on this chart.
I am expecting more upside to complete the 5th wave in an expanding ending diagonal ( yes one more never-ending diagonal ). If you didn't catch any of the up move don't worr, the trade you don't want to miss is the sell !! I will be posting updates as we go. Buying on pullback on 60 mins is a good idea. I will look at the this in details tomorrow.
Trade with care
Thank you for your support.
Shortterm downsideSee some more downside ''Possible C-wave'' completion
Potential move up near-term..
Watch for possible ''ending diagonal''
on lower time frame for market reversal
UKOIL (Brent crude). Alternative count. Ending diagonal It could be an Ending Diagonal in the position of wave C.
We can reach then the $55-58 area where both 61.8 of A and the top of diagonal meet.
Break below 45.12 (wave II) would invalidate this count.
I will add another possible count in the comment to this post to show you different perspectives.
SHORT - EURGBP - ENDING DIAGONALLOOKS TO BE AN ENDING DIAGONAL - I WILL BE PLAYING THE SHORT FROM THE TOP OF WAVE FIVE WITH MAXIMUM RISK TO REWARD RATIO
GOOD LUCK
