The most important cycle time for the Markets , will be completed at the end of April 2017.
Hi All! I strongly think we are currently in a correction wave (Wave B) as you can see its correction pattern for some time now- I expect a very strong movement to the down side in the coming weeks. Happy trading!
Long-Term Down Trend. Approaching Significant Resistance. The up trend starts when the next trend is broken. Otherwise, the down trend can continue at that trend line.
USD likely to have further losses ahead. This looks to be the start of a down trend, after high velocity break of the uptrend.
DXY is approaching the neckline of head and shoulders pattern. Cheers!
GOLD stopped at 1276 for twice this week. if we have a breakout at 1276, i will long GOLD. If not, we may drop to the previous low. Also, Nov 2 (Next Tuesday), FOMC Rate Decision will be very important. Now USDOLLAR reached its solid top, let's see if it will have a big correction.
DXY is going down to 96 by Nov 21 and then will resume its route to 117 by mid-2018
DXY is tracing a very strong uptrend, but it's likely very close to hitting an intermediate term top in the 99.31 to 100.05 range in a couple days. With the election so close, I think we will see fear subside, and thus, dollar strength to wane until the rate hike fears are a concern once again, closer to December. The chart gives us a proyected uptrend slope, and...
It could be triangle or any kind of corrective wave.
Hey traders! As shown on the chart, the USDJPY is forming a raising wedge, once broken we can expect a strong bearish corrective wave. Thoughts?
Talking Point: Technical Strategy: Turning Bearish Elliottwave View: Progressing wave (C) of c. Analysis Silver was trading sideway and is on long term down trend. However, recover from 13.91 looks promising. We had impulse leg up and current move from 20.96 is correcting this move. We were expecting correction over 17.04. But current move on lower...
DXY is correcting from last run up. However, for this trend to continue, the weekly ADX needs to turn back up along with the +DMI over the next several weeks if this is a breakout move to the upside for $. Possible indications of a strong up trend continuing could be a pullback to the 97.5x range which would be a 38.2% retrace, a pullback from ADX overbought...
XAUUSD is forming inverted head and shoulders and double bottom - Adam and eve - patterns. Buy the breakouts. Cheers!
I think it will probably go down to 1.08525 before going up to 1.11. Depends on how daily candle closes. Or it can go down just a little bit before shooting up.
USDNZD Long Opportunity: - 0.6 Fib from last leg - Hits Support from Mid September - Hits 200MA - Stoch and RSI oversold and pointing upwards - 150MA and 200MA crossing for bullish Risky though, keep a close eye on DXY, if trend and Fib broken here, could be good sell
Looking for a break line either down or up will followup the trend.
Six months ago I published a long term weekly chart with a target which was so far accurate. (link below). I screwed up after that thinking that the correction up was over and it was not. I think now it is more likely that the up correction to "C" is over as C has gone up .62 X the distance down to B. Of course the trend is sill up to perhaps the .78 correction...
Nice short setup here... Impulse soon?