We have a Triangle (or Pennant pattern if you like). We could see one last small push for wave (e) that needs to remain above 379 ideally. Below that, it opens the way for a bigger & deeper pullback.
This is clearly for promotion purposes as you can see but also shows the effectiveness of the wave Principle which is deadly accurate sometimes ! Here you can see the chart that I shared with my subscibers on 29 Sep 2020 and where we are currently.
EURAUD Long Position @ Large 4 hr Supply/Demand zone. 20:20 R/R @ 5% of Account Balance
S&P500 - Despite the optimism we're seeing in the markets today, I wouldn't go on a buying spree right away. Many setups have been popping up but I still believe we're in a bad phase right now and there is a high chance for markets to sell off and make new lows. What the catalyst might be, I don't know... Maybe Trump will not acknowledge the results ? Who...
Made only 3 waves down and currently is up in 3 and is at the 161.8% projection of orange wave a from b and the 127.2% of (w) from (x). This is an important Fib cluster that can react as resistance and the fact that we also have the 78.6% retracement level of the Diagonal doesn't help the bulls. Therefore, unless we see a new high above 420, I recommend to be...
It looks Like GBP/AUD is retesting the previous resistance triangle, and to confirm sell, huge wick has been seen througout 2 candles, showing big rejection. Risk/Reward Ratio : 1 : 2 Entry : 1.82745 Stop Loss : 1.83763 Take Profit 1 : 1.81621 Take Profit 2 : 1.79829
We have the stock on levels of 2017, its a long term set up with a juicy R:R of 8.23 and a profit expectancy of 50%.
The demand zone in which the price is ranging right now has already been tested 3 times as a Support. Logically, we can't blindly trust this Demand Zone and just place Buy Limits. The more a price level has been touched or tested, the more likely it is to be broken. Therefore, we will wait for clear rejections in lower timeframes to confirm the Bullish Volume....
I know almost every trader has asked themselves these questions: How come I keep losing?! WHY?! Why do I keep getting stopped out?! Why is it taking so long? ! Is it even possible?! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Today I have some good news for you maybe you already know this maybe you don't, but this is for those folks who do not know the power of a...
Gold didnt hit the original sell area @ 1916 so im looking for a 382 pull back to go short. Still targeting the 1800 area but if the 78% holds then we may have a significant low in place. We also have the 382 from the March low @ 1838 which could hold things up as well.
Still looking for lower Gold prices. This pattern would give us a $10 risk with a possible $100 move. A move above 1930 would see me looking for a bullish count. Once again election and vaccine could see this thing get violent so need to be careful and look for low risk entries.
My Strategy Is Base Of Market Structure , Fibonacci Retracement And Consolidation Breakouts On Any Time Frame But Mostly On 5 min Chart Enjoy
We can make the case for this being a rising Wedge Pattern or in terms of the Wave Principle, an Ending Diagonal fifth wave. Looking at the Wedge pattern, there's nothing wrong here and we can short if price goes outside the pattern. But there are two problems with this view according to the wave Principle : 1) Wave 4 did not enter wave 1 territory altough...
I sold half of my position on a double of $SI yesterday. I'm now in a risk-free position for life. I bet only a small size, but I think small is the way to go for longevity in this game. I took this trade for two reasons: Fundamentals & Technicals. I'll break down both. The Six Most Important Fundamentals Firstly, the six most important fundamentals looked...
This is a follow up to my previous post and is here simply to show the effectiveness of the Elliott Wave Principle and one way to apply it. We shorted this ending diagonal right after closing our longs because for 2 reasons : 1) We got an Ending Diagonal wave 5 which should be followed by a sharp reversal. ...
BYND - Here's a new one for our watchlist. Not sure a retest of the support zone is for right now but once 5 up are done, it's a possibility and occasion for a long. For now, it looks like a simple wave 4 correction. A break above the channel should take this for a fifth wave higher.