USDJPY has completed wave 3 of a potential 5 wave structure. The pair has broken a trendline to complete wave (i) of 5 and is retesting the trendline at the .618 retracement To add resistance, the 200 EMA and SMA lines sit above price and below the SL level. The daily pivot may also add resistance near entry. Entry is placed at 61.8% retracement with SL above...
AAPL has completed a five wave impulse and has been in a pullback since February 2015. Since wave-(A) was a three wave move followed by a pro-regressive 3-wave (B) rally, we can expect wave-(C) to be counted as five waves in a 3-3-5 flat. At this juncture, it is difficult to predict how deep price will consolidate after wave-3-of-(C) completion, but we will...
EURUSD may be entering a strong rally through wave-iii-of-(iii), providing an opportunity to take a long position with a R/R of 9.36. The larger C-wave is an expected 5-wave impulse considering wave-A was also counted as 5 waves (5-3-5 zig-zag). Since a bullish 5-wave-(i) was corrected by a zig-zag decline and a price was rejected at the .786% retracement of (i),...
On the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish...
GBPJPY is nearing the PRZ of two bearish harmonic patterns. The PRZ is tight at about 4 pips and falls in a nice S/R zone. EMA100 may also add resistance in this area. There has also been a slight bearish trend preceding the patterns to add to the bearish bias. Entry is placed at the base of the PRZ with SL above structure highs and target at .618AD. ...
AUDNZD has completed the "e" leg of an expanding triangle in a complex triple three correction. Triangles commonly mark the end of a three wave reactionary wave and thus an upcoming bullish move may be impending. A possible cypher will make for an optimal entry long. In the case of the triangle continuing to 2 or 4 additional three wave moves off of the...
SUNE is nearing the completion of a bearish cypher pattern after breaking the bullish Wolfe wave confirmation line and retesting. This presents an opportunity to place a long position. The next pattern to look for if this is filled and completed is the bearish Gartley pattern. Depending on price action, I may be taking both of these trades. I will update the...
USDCAD has potentially completed a long term bullish impulse followed by a 5 wave "a" and a 3 wave "b" correction. 1 and 5 waves show similar price ranges on two different degrees of impulse adding to the probability of the rally being ready for a corrective move down. Channel resistance may also add to bearish bias. There has also been a breakout from the...
EURAUD has entered a corrective structure after completing a five wave impulse. This iis a setup to trade iii of c toward the completion of a bullish cypher pattern. The cypher PRZ is confluent with previous fourth wave support and the 50% retracement of the impulse. Entry is triggered on the break of the trendline with SL above structure highs and target near...
USDJPY has completed a bearish Gartley pattern in a corrective wave structure. The flat correction may be treated like a double bottom so that a long trade can be entered at the .618 retracement of CD, a common Gartley target. The 1.618 extension target for the 2618 trade coincides nicely with previous wave 4 resistance and serves as a nice TP zone. A short...
EURUSD has completed a series of bullish impulse moves and may be ready for a 38.2% correction down to fourth wave support. To add to the possibility of a correction, wav e1 price range is approximately equal to that of wave 5. Daily trendline support sits above wave 5 peak. Entry was placed at the close of previous candle with SL above wave 5 and target at .382...
NZDUSD has entered the PRZ of two bullish harmonic patterns. The PRZ is supported by two weekly trendlines and a series of missed pivots sit above price which may help add to bullish bias as well. Divergence can be observed on both MACD and RSI oscillators, in addition to an oversold RSI. Entry is placed at the base of the PRZ with SL below the second weekly...
GBPAUD has presented a bullish trend on the 15m chart. To enter long, 4 harmonic patterns may potentially align within a tight PRZ. The PRZ is confluent with the daily pivot which may provide support at that level. Entry is placed in the center of the PRZ with SL below Gartley X and target at .618CD. Bullish Confluence: Bullish Gartley Bullish Bat ...
MITK has completed a bullish bat in a with a PRZ that is confluent with support from the 100 day exponential moving average. To add to bullish bias, 2 missed weekly pivots sit above price. Entry is placed at the bottom of the PRZ with target at the missed weekly pivot from 12/14. Confluence in the PRZ: Bullish bat 2AB=CD 2.272BC Projection EMA100...
USDCAD is nearing the completion of a bearish Gartley pattern. The PRZ falls inside of a significant S/R zone, adding to the probability of a reversal at those levels. With a potential upcoming rebound in oil this could provide a nice entry for a larger bearish move toward the missed pivots sitting below price (see related ideas). This would of course depend on...
USDCAD has completed a bearish Wolfe Wave at the PRZ of a bearish butterfly. Bearish MACD divergence has been printed to add to bearish bias. SL is placed above 1.618XA (potential crab completion) with target at WW target line.
EURJPY is nearing the PRZ of a series of bullish patterns. A medium term bullish trendline may add support to the reversal zone. To add to the bullish bias, MACD and RSI have both printed bullish divergence. Entry is placed in the center of the PRZ with SL below structure lows and Bat X point and target at .618CD. Confluence in the PRZ: Bullish Bat ...
USDJPY has formed a bullish engulfing candle on the 1HR chart, indicating possible upcoming bullish movement. The candle is supported by a strong 12-month-long trendline that price has respected 3 times previously dating back to January, 2015. At the PRZ, a bullish pinbar has formed on the daily chart. The wick falls on a series of fib levels from structure...