Get started

Flat

Exide Looks Excited with Positive Breakout from ConsolidationAfter few weeks of consolidation in rectangle formation, the price action broke out from the rectangle on Wednesday indicated strong buying pressure and thereon the price action remained and managed to close above 184 resistance level for three continuous day. Buyers look excited and shall move prices up. As per Elliott Waves , there is completion of Regular Flat corrections (ABC) and now the price action is in a Wave 3 of impulsive move. Target 1: 192 Stoploss 179
BSE:EXIDEINDLong
by NeeteshJain
1
Final Leg of Diagonal Pattern - 1.1050 Key LevelWith the Fed beating the drum of rate increases, many are looking for the Greenback to fundamentally strengthen. Though when and if the Fed actually increases rates is a debate for another day, let's look at the technical picture for EURUSD. It appears we are finalizing the 4th wave of a 5 wave diagonal pattern. We're looking for this 4th wave to terminate in the 1.1050-1.1200 price zone, then pivot higher to for a 1.17 retest. Two items can help with the long trigger: 1. Live trader positioning through FXCM - it currently reads +1.01...look for this number to drop to signal a bullish signal 2. A break above the red resistance trend line would signal the mood of the market could be shifting towards bulls. If this occurs, one could place a stop loss just below the recent swing low while targeting 1.16 for a positive risk to reward ratio. If prices meaningful penetrate 1.1050, then we'll need to consider the alternate patterns. Best of luck and happy trading!
Long
by JWagnerFXTrader
11
EURUSD - COULD RESUME IT'S BULLISH CYCLEMy last EURUSD chart suggesting long entry was about 4 months ago, which took longer and retraced more than originally anticipated. Whilst we were waiting for longer term bullish move, we took 2 short trades which were also published subsequently, see chart links below. Now we have long awaited low formed in December 2015 just above March 2015 low, which could prove to be higher low of the bullish cycle Looking at the price actions since March low to recent December 2015 low it appears very interesting as follow: 1. From March Low to August high we note a clear 3 swings zigzag move shown in GREEN. 2. Similarly, from August high to December low also appear to have a 3 swings to the downside show in GREEN. 4. The final part of the swing down to Dec low was clear falling wedge with accompanied momentum divergence on H4. 3. The December low formed at just below 88.6% retracement of the move up from March to August. The above observations, if correct, suggests that we have a potential Flat correction which according to Elliott Wave principle is formed by 3-3-5 (a-b-c) formation where wave B needs to retrace around 90% of prior wave A and both waves A & B should have 3 swings each, hence meeting the criteria. If the interpretation is correct, then what should develop now is a 5 wave impulsive move to the upside, which could at least retest August high or even make new higher high. Of the 5 wave it appears we have already completed leading diagonal wave 1 and retracement zigzag wave 2, and could be in very early stage of wave 3 in progress which should be quite strong. Summary: Therefore, we could consider 2 possible entries 1. The ideal one is that we can get pullback to enter around 1.08 or better and is a preferred entry. 2. If it don't get a pull back to 1.08 level then use a smaller time frame to confirm entry or wait till we have a breakout above 1.1. In both cases the initial stops could be just below 1.07 which is invalidation level, however, it might need to be reviewed as bullish trade could still materialise provided we hold above December low. We might stay in this range for few days but seasonality also supports EURUSD gaining noticeably commencing from late Jan to early Feb Warning: This is my interpretation of price action using TA approach that I consider helps me the most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views. For those who appreciates my analysis, select to follow me and the chart for notification of future updates. Indicate you like my analysis by thumbs up, comments and sharing it with others. If you have an alternative idea then please be constructive and share for all to learn from. Thank you for taking the time to read my analysis. DanV danv-charting.com
Long
by DanV
25