Based on the current Daily chart/pattern, there is a possibility to enter a LONG until the top of the channel trendline, before a substantial SHORT to the bottom of the triangle's channel trendline. IF the bottom trendline is broken, after consolidation and crossing the Blueberry EMA, we should be able to have confirmation of a significant Impulse wave downwards...
Wave 2 looks to have completed in 3 waves between the 0.5 and 0.618 fib retracement levels of wave 1. A wave 3 is likely to follow soon. This wave 2 could also still develop into a more complex pattern such as a flat, if the move up develops in 3 waves to the wave i extreme protect yourself by moving your stop to break even as soon as the impulse is invalidated.
PRICE IN LARGE CONSOLIDATION BEARISH IMPULSE BEFOREHAND GOOD INDICATOR OF FURTHER DOWNWARDS MOVEMENT
Wave C looks of a ZigZag looks to have completed and been followed and impulsive move down which was corrected by another ZigZag. Pending order has been hit on the break of wave 3 of 4. Minimum target for a wave c is equal to wave A. If this is a wave 3 it should approach or pass the 1.618 extension of wave 1.
Note: I should have extended the minimum target level down to the 1.618 fib extension of wave 1. Wave E of a Triangle in Wave 4 has completed and Wave 5 is likely to follow. Wave 2 has completed as an Expanded Flat just after the .786 fib retracement of Wave 1. Wave 3 is likely to follow this Wave 2 Expanded Flat. Pending order has been set on the break of Wave...
A Wave 2 ZigZag has completed at the .618 retracment of Wave 1 which is a strong indication the correction has complete. The price has already made a bounce from this level and seems to be in a correction which has probably has further downside before the up move. This initial bounce could be the beginning of a Wave 3. The larger picture shows this Wave 3 could be...
4 hour chart showing a 5 wave impulse being corrected by a 5,3,5 ZigZag pattern. Wave 4 of 5 in Wave C of the ZigZag is currently in progress. Price showing resistance at the 0.618 retracement level off the impulse. RSI touching/nearing oversold territory. Initial price target set at a 1.68 multiple of the impulse wave (2:1). Entry level only once the extreme...
It appears 5 subwaves of a Contracting Triangle have completed in wave 4. It looks like this Contracting Triangle may be the full corrective move of wave 4 since it has reached the .382 fib retracement of wave 3, this is the most common retracement for a wave 4. It also appears to have ended near extreme of wave 4 of one lesser degree in the impulse which is...
It appears 5 subwaves of a wave C in a ZigZag have completed. It looks like this ZigZag may be the full corrective move of wave 4 since it has reached a price level between the .382 and .500 fib retracement of wave 3, it is also in correct proportion to wave 2. The RSI indicator supports my prediction that wave 4 has ended. RSI Range Rules say that in an...
Hey traders, I like the bullish impulse on the lower TF going into this Friday morning. If bullishness continues, there is a chance for a 400+ pip move to the upside. If invalidation level is broken we could see a continued sideways movement for a few more days. I like the odds enough to attempt a long here. Cheers
Hey traders, coming in with an update on USDCAD and a trade on possible wave count with a >2:1 reward/risk ratio. I like the impulsive bullish move toward a potential five wave impulse to complete wave-((b)). After this move, should it complete, I want to look for shorts through a possible ((c))-wave which should be substantial and powerful. Cheers
It appears a contracting triangle has appeared in wave 4 of an impulse (A contracting triangle can only occur in wave B, X or 4). A wave 5 impulse at the same degree as the contracting triangle could have already begun but I am taking a conservative approach since the substructure of the contracting triangle is not ideal. Entry Level: Once the extreme of wave D...
With my eyes glued to my trading screen, almost not missing a tick on the EURGBP, the worst thing that could happen is missing this buy trade or perhaps not getting the setup I wanted so having to let this trade go. It sucks when it happens but it's trading so... Trade with care. Use a strategy you have tested and verified. 6.1.8. Family. More Than Just Trading.
brexit whay? Don't get caught in a pickle. Use SL and be responsible. These events are when accounts get blown, or doubled. Pick the right side!
Hey Traders, Hope you had a great weekend. We have an opportunity to sell soon in EURCAD. As soon as we get the breakout look for any flag to sell for a pontential bearish impulse. Keep an eye on it. - Hey Traders, Espero que hayáis tenido un buen fin de semana. Pronto tenemos una gran oportunidad de venta en EURCAD. Así como se produzca la ruptura de la...