In the weekly frame price seems to be correcting the whole impulsive leg in a flat structure. Currently we are in the B part of the flat. For those who have not positions in this pair try to look for pullbacks or corrective strucutures in lower time frame to join the bearish trend
USD/JPY is in a flat correction where it has completed the leg A and B, now to finish the remaining C leg, it has to come down in 5 waves but after then it will either reverse to the downside or continue the bullish trend to the upside
Now this is the bigger picture, as we all can see very clearly that a weekly flat(abc-335) structure has been completed, so there is a great potential for the price to go down in 5 wave structure. This is a great opportunity to enter short term position in USD/CAD.
My Opinion, in 1h timeframe, Wave B in zigzag ABC ( or triangle or flat... ) is over , wave C begins.
This is my opinion about eurgbp.
What is your point of view?
Trend of EUR
Mostly in a down Trend if not heading into a range.
Trend of EURGBP
Looks like it is turning into a range. Price from 60m shows sellers not being able to make a new low on the first attempt
Currently the 2nd is sellers are slowing down.
Signs for entry (long)
Currently there are signs of sellers momentum dying off. Preparing for london open and...
BTCUSD has been choppy, but the weekly chart shows a potential bullish TK cross on default ichimoku settings and lagging span above price if bitcoin stays within its current range. This scenario agrees with a bullish narrative using TD9 sequential, with a weekly 9 followed by 1-4 candle correction before trend continuation. A retest of daily moving averages in the...
if first blue A-B-C = (A) or (W), second blue A-B-C=(B) or (X), then we can expect wave (C) or (Y) to follow.
e.g. Green 1-2-3-4-5 = (C) or pink A-B-C = (Y)
We know that
Wave (C) of a flat usually between 100% and 165% as long as wave (A)
Wave (Y) of a double zigzag often about the same length as wave (W) (or common Fibonacci ratio o.618 or 1.618)