the red line, will be soon breached, if markets be in a bullish nature, or will be breached after being volatile for some time and then move upside. blue lines are the levels. the green line is a great support, which stock being volatile, then will not breach this green support, and volume might be seen to be increasing. and the dark black line is the actually...
Hello traders and investors! Above I have detailed 2 scenarios, as we reach the end of our descending triangle/ channel shape. In the pattern we have seen price action hit a bottom and top 4 times on a 4 hour chart💹. We have just completed what looks like a large head and shoulders, and instead of going down⏬, we see bullish movement. I will be waiting for a...
Short Term Elliott Wave view in Nasdaq suggests the rally from April 8, 2020 low is unfolding as a 5 waves impulse. Up from 4.8 low, wave (1) ended at 8326.25, and pullback in wave (2) ended at 8073.25. The Index then resumes higher in wave (3) towards 8710. The internal subdivision of wave (3) is in 5 waves of lesser degree, as below chart shows. Up from wave (2)...
Hi traders! GBPUSD turned nicely to the upside from the 1.238 level, where a bigger, bearish cycle may have ended. Current rally can be evidence that a low can be in place, and that more upside may follow. At the moment we are observing a five-wave rally as part of wave A in the making, with possible resistance near the 1.257/1.259 region. Once wave A fully...
We are tracking a EW triangle, complex correction on the daily time frame of GBPNZD. A triangle is a complex, five wave pattern which moves within two contracting or expanding channel lines, and also unfolds prior to the final leg. This means, once our bullish triangle fully unfolds, a new recovery into higher degree wave C, above 1.9610 level may follow. At the...
Good day traders! Hope everybody is doing great. Let's dig in. On the intra-day chart of EURUSD, we see price unfolding a strong bullish movement, which suggest an impulse to be in progress. We can see waves 1 and 2 completed, so current strong rally can be wave 3, that may see limited upside near the Fibonacci ratio of 61.8. That said, once wave 3 unfolds a new...
Intraday chart on USDCAD is nicely pointing to the downside into a final push of a bigger bearish impulse. As we look closely, we can see current triangle correction trading near completion, which means hopefully more weakness will follow on the pair. A confirmation for a completed triangle correction is a five wave minor fall and a breach below the former swing...
10 Year US note seems to have completed the ending diagonal that was located in wave C as part of a higher degree correction, which now means that more weakness can follow. This breach lower can now suggest that a five wave drop could be in the making. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment...
Lisk made a three wave pullback into blue wave (4) correction and later found some support at the region of the former wave four at 0.00079674 level. We know former corrections can usually act as turning points and in our case as a support. That said current rally can now be start of a new impulsive leg higher, with price currently trading at the beginning of...
On the intraday chart of AUDJPY, we are observing an idea of an triangle pattern, that could be near completion, as price is now trading in its last leg e. That said level at 85.44 must be broken for a confirmation, that triangle is completed and that more upside may follow in sessions ahead in wave 5. www.ew-forecast.com @ewforecast
USD is showing some gains early this week with GBPUSD moving beneath 1.4400 level. We are wondering if this reversal on cable is going to drive prices much lower since we can count five waves up in wave C from 1.4050. We however still need to see a break of 1.4293 to confirm a turning point. Then we would look even back to March 15th...
A few days back we posted a chart of NZDJPY, that was trading in a correction, specifically in a flat correction pattern. In the last leg of this correction wave C, we thought that pair could make at least one more push up so five sub-waves would be visible. However that was not the case and a drop occur. No worries, this drops was still expected and is now...
On the Intraday chart of AUDUSD we suspect that price could be making a more complex correction in red wave B), than at first sight. That said last leg Y can now be underway and more upside may follow, after blue wave b-circled is completed.