Gold’s rally 1046.54 to 1375.12 labelled (i)-(v) confirmed the reversal signature and is indicating the end of the corrective structure from late 2011 with a Double Zig-Zag pattern at 1046.54. This larger pattern is labelled, unfolding as a primary degree impulse, 1(circle), 2(circle) and is getting ready to break to new record highs for gold the next...
In today's #marketinsights video recording I analyse EURUSD and USDJPY!
Euro, dragged lower by the reinstation of the QE programme, was able to reverse post-ECB losses on the back of:
- Limited rate cut compared to markets expectations (only 10 basis points)
- Draghi's call on governments for fiscal stimulus (supporting EA economies?)
- Widening yield...
Reasons for open position:
- Price range
- 1st level 174.20 $
- 2nd level 165.80 $
- We should wait to see which level price will break first
The information provided is not financial advice, always do your own research.
Guys, if you like the idea please put like button and if you have your own ideas you can share it in comments, I would like...
it doesn't matter we are forming a zig zag or a flat or a triangle only thing that i know we are at a corrective wave. this is not a motive wave because it is complicated and has a lot of overlaps.
regardless, may be we are forming a regular flat(A 3-3-5 correction) . after completion of correction i will tell you guys where to put your orders. now we should wait....
Looks to me like we are in a complex compression.
Originally I thought we finished a double three (Flat - ZZ - contracting triangle) but after the latest upthrust I feel as if we are in a more complex pattern.
Thinking we are on our way down to $10k to finish a flat before going 3 up and then working our way below $9k with a zig zag either in a more complex WXY...
One possible - and likely - interpretation of the current shorter-term wave count on EURJPY is that we have clearly completed a 5 wave decline followed by a classic ABC Elliott Flat correction.
The question is - what next? I am anticipating at minimum a return to the original lows at the 121.000 handle, with the possibility that there will be a fresh 5 wave...
I dont trade btc but might as well use some futures. Everybody is in this so one trade might not be as bad.
this is set for a short. flat to bearish bias but current trend is up, so might be flat formation.
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