According to my analysis, USDCHF is very close to end the correction on short term basis. Current Elliott Wave outlook suggests that we are going to have a sharp rally happening very soon all the way up to 1.13000 price handle. Current price is good to enter but Stop-Loss point is very far at 0.95500. The R:R is still good but conservative trading is what I prefer...
The Elliott Wave outlook is showing some opportunity to short EURUSD soon. Triangle looks completed. There is a minor chance that wave-E of triangle is underway but since Alt:wave-D has violated the Elliott rule by passing the end of wave-B by a few points, I believe this is wave-i instead of wave-D. Lets see the price action in coming days and weeks. Remember...
End of wave-4 or just wave-A of wave-4 at exact 50% fib retracement of wave-3. Check Main wave counts here:
The wave counts so far show complete impulse wave for #USDJPY . If the wave counts are correct then surely #USDJPY is heading down for a couple of months (or years). Lets see how it unfolds in days and weeks to come. Remember only price action confirms the wave counts. Keep an eye
May be there are no more long trades on this pair left for coming years. Although the retracement is little less than 61.8%, but on the other hand, red trendline is also broken but still there might be one pending leg up. IMHO, most probability goes for Bearish trend because there is nice bearish divergence on MACD as well. (This is Monthly time frame chart, good...
As almost all major USD pairs correlate with USD index, either directly or inversely, prediction of direction of $ index is important to keep in mind bigger picture for all those major pairs.. Looks like we are in correction right now, that can stay for more time before bulls come in the game.
Short selling Probability is there. Keep an eye !!
Since the odds of wave-4 being a triangle are low as its continuously breaking rules of #Elliotwave triangle. So here's the new probable scenario. Note the bearish divergence is forming. Prices may push bit higher or hit 50% fib.. Good luck..
Both #GOLD and #SILVER are in correction phase for exactly 4 years now which looks like ending very soon. Bullish Divergence on both metals is already giving strong signal of Bulls getting ready for longer term... Keep eyes on it !!
At end of wave-Z, either its completed wave-4 on major trend (in that case counts as WXYXZ are correct) or its just 1st part of wave-4 (in this case it is only full wave-A as 12345 instead of WXYXZ), but in any case, if these counts are correct, we will see a #Bullish action for #YellowMetal soon !
Current outlook looks very promising to buy #GBPJPY