As I progress thru learning EW principle I like to revisit ideas and add some additional commentary on what MAYbe happening! Happy new year! Thanks for the continued support! :D
Looks line an expanded flat correction completed or nearing completion here. This could be monster move down with great R/R. I've closed 100 pips on Friday close and I'm only looking for short set ups on this pair! Give me a thumbs up if you like the idea and leave me some comments on what you are thinking! :D
*if you're new trader do not trade my set ups or...
Price has started into a correction. Appears to be making an expanded flat combo, to me at least! Traders, what do you think? If you think it's a good Idea give me a thumbs up, and as always I appreciate comments! :D
Hey Traders, it's weekend review time! GBPUSD, originally viewed as a possible flat on an intermediate degree, has broken recent lows. What does this mean? We should expect some lower lows into next week. The double zig-zag has created a new motive wave and is expected to now become a triple zig-zag. This is a great short opportunity if we see a nice...
USDJPY appears to be putting in the finishing touches to a corrective move lower. We can see an elliott wave impulsive move higher followed by what appears to be an a-b-c expanded flat correction. We can use wave measurements to gauge higher probability areas where blue wave 'c' may terminate.
3 areas I'm watching:
104.63 = wave 'a' low
103.90 = 38.2%...
GBP/JPY - Bottom to be found between 156.02 - 156.21
The decline from the 163.89 high has been relentless, but it's only part of an expanded flat correction and once the low is found a new strong rally higher should be seen.
The low should be found in the 156.02 - 156.21 area. At 156.21 we have the magic 70.7% corrective target of wave (I know that the 70.7%...
We've written about the GBP/USD a couple of times over the past month or so anticipating a wave 'B' bottom. This week, Sterling pivoted at the point where wave 'B' could be a false break down. This pattern we're favoring is the expanded flat pattern that began on March 18 2015.
Wave A is a double (flat-x-zigzag) that terminated on June 17, 2015.
Wave B as...
Multiple Elliott Wave patterns are lining up that suggest EURUSD may fall towards 1.0750.
1) In the context of a medium term bull trend, an a-b-c expanded flat from Dec 3 points to 'c' of 2 to 1.0750, then a larger bull run kicking off
2) A wave 4 triangle suggests this move from Dec 3 to Dec 9 was 'a' of a triangle. 'b' of a triangle likely presses towards...
2 months ago we identified Gold as a market that “the wave picture on Gold is simple, though the timing of the trade may prove difficult.” From a bigger picture perspective, Gold was close to finding a meaningful bottom.
We went on to say “There is a false breakout zone from 1060-1131 which means so long as prices hold above 1060, this wave counts suggests the...
The Loonie has been slopping around sideways for the past couple of weeks. Back on July 22, we wrote about the possibility of a multi-hundred pip sell off. After a brief dip, prices drifted higher from July 29-Aug 4. The Aug 4 peak occurred at a level where a wave relationship suggests the possibility of a deeper sell off (see wave relationships below).
The...
Imo ... the top from 2006 was the end of impulse / supercycle /, and now we are in wave C correction - that increasingly looks like a Expanded Flat.
thepatternsite.com
Sterling is carving out a sequence of overlapping 3 wave moves which is giving the appearance of a triangle. If that is the case, we are working on the 'D' leg of the triangle.
The key element that is tipping me off to a trading opportunity is the 5 wave move higher from July 8-July 15. This is a leading wave and takes the shape of 5 waves. Therefore, there is...
With price meeting Nov 2014 low, technical traders are looking to the current level as a hot spot, where a reaction higher or break lower is likely to occur. The retail sentiment at FXCM is showing 4 times as many traders who are long versus who are currently short. These short traders become a pool of future sellers when they decide to close out their...
Last night, we posted about the potential for a leading diagonal on the EURUSD (see the notes at the bottom of “EUR Analysis Prior to Greece Referendum Vote”). The pair has continued to play that tune which implies:
• A tradable low is in place at 1.0915 which coincides with scenario #2 in the “EUR Analysis Prior to Greece Referendum Vote” (see green notes on...
EURUSD has potentially completed the wave 5 of the Flat correction on the higher degree time frame which is Wave IV correction. What this means is that the down trend resumes for the EURUSD and would break the previous lows. USDOLLAR Index is also showing the same chart patterns of Expanded Flat correction giving confirmations. One can go short on this pair with...
I am a firm believer stock markets are patterned in shape ( Elliot wave ) and cyclical ( Martin Armstrong works ). Because labeling waves is subject to human nature, using the Elliot wave principle to trade is tricky at best. Nevertheless, sometime when you see a pattern you just have to accept what is in front of your eyes and right now the SUI30 appears to be...
