The precious metal charts are looking very bullish, with a clear 5 wave structure off the Dec' 15 low followed by a corrective 3-wave retracement marking the end of wave (2), meaning that we have now resumed the bull trend. The price of Silver has been rising steadily for the last month and we should see this trend continue, taking us close to last year's high of...
Hey traders, I have been following this impulse in wave-1 waiting for a retracement. After the daily close, a bearish wave-c presented itself to complete wave-2. I want to buy here. Movement past invalidation will have me on the sidelines again. Updates to come as the tide rolls, cheers.
This pair has completed a descending triangle and has exhibited a strong breakout to the up-side. I want to be bullish in the long term after this correction. However, this correction is very possibly going to be sharp to the downside to satisfy the Elliott Wave rule of alternation since we saw a sideways correction in wave-2. Also, the previous red candle was...
Hi traders, On the XAUUSD we can see that price has reached the trendline. So far we can see a nice wick forming. If we get a close below the trendline, wait for the a retracement and enter from there. Cheers
Hey traders, a potential breakout toward wave-C of this potential zig-zag is approaching. Looking to ride the C wave up toward potential (a)=(c) target. Of course, if invalidation is broken I will be out to re-evaluate. Target is tentative based on price action. Cheers
It seems that Oil is completing is consolidation with a small move down before the final leg up. I'll be watching the setup and going long as soon as this last down move is complete.
Gold seems to have completed 5 Wave structure and correcting.. I'll go short with break of lower TL of the ending diagonal.. There's Bearish divergence along with EW count to indicate the lost momentum and a correction.
“Double three” flat combinations:
ABX has been very bullish for 6 weeks and is starting to lose the momentum which shows up in Bearish divergence in RSI as well.. I'll short on break of lower TL
Microsoft has gone up too fast, I believe its a good time for correction and with the complete Tech sector looking weak, I'll be watching the lower TL to go short.
I've shorted with TP1 around 671 area. It seems to have formed an ending diagonal with a clear divergence on weekly TF...
I just love to see these studies play out. Looking for a 123.50 buy in to Short.
UK preliminary GDP released tomorrow. If it disappoints, I want to be short this pair. If it beats forecast, I will be looking for GBP pairings against weaker currencies like the yen. Cheers
Hey traders! Cad has been strong and this pair has been on its way down in a bearish channel. I will be short if the support is broken toward potential completion of the C wave. Happy trading
In FX it is important to leverage strong currencies against weak currencies. GBP is our strongest and AUD is the weakest on news over the past 24 hours. I'd like to get long through wave-((5))-of-v-of-(v) to ride the bullish trend. Next related predicted volatility due to news is in about 20 hours.
After this bearish impulse, it is likely that if the entry level is taken out we may see further downside. The EW count suggests the same. Also, with the inauguration occurring today, there is a possibility for a "risk off" economic environment to take the reigns which would mean a drop in riskier currencies like the kiwi and a rise in the safer yen. Cheers
Hey traders, breakout to the downside on this pair. Trade is immediately active. Look for a few longer term targets with the most profitable being 82.5. Moving to B/E at 1:1 as is typical. Cheers