GBPUSD may be in the midst of a continuation from its wave-iv correction. In order to ride the wave, I've placed a tight stop directly above the potential completion of wave-iv. There is a slight chance that the correction could go higher, but no higher than the invalidation level. A looser stop may be placed above invalidation. Will update as the tide rolls.
This is a re-evaluation of the final corrective triangle structure. The reason why this is the LAST entry is because our stop can be comfortably placed beyond the invalidation level. A single pip below this level invalidates the count, and we have a huge risk to reward opportunity on which to capitalize. This is a risky position because the BOJ news is pending,...
USDJPY has completed a triangle pattern in a potential reversal zone at the end of a corrective wave count. If you missed the first small rally, now is a great time to look for entries. This is an odd hour to take trades, so we may see some interesting price action here. Keep an eye out for bullish impulses to get long behind.
Hey traders, the drop has likely begun for this pair toward point G of the expanding triangle. We have a bearish impulse on the 1H and an opportunity to catch the drop with a tight stop. There could still be another bounce twoard the .786 fib, but the loss will be cut short if that is the case. If the drop continues as planned, we have two targets in play: ...
One the 4H timeframe, we have a nice triple three correction which has potentially reached its completion with this wave-((z)): We are now seeing wave-((c)) of a potential expanded flat, which if true will mean the third and fifth wave are coming which means strong bearish price action. The stop is tightly placed above the beginning of wave-(i) since rally...
AUDUSD is nearing the completion of a bearish bat on the 1HR timeframe. This level is confluent with a .382 fib and AB=CD pattern. Additionally, a lower TF wave count indicates a possible wave four in process, pending the last wave in the impulse. I will be risking less capital on this trade as it will be an overnight limit order and I will not be able to...
Happy Sunday, traders! The drop following the expanding triangle last week was swift and strong, as is usually the case for c waves: The drop began with a series of ones and twos, meaning we will likely find a series of sideways four counts to follow. For this reason, the drop is likely going to continue sideways before the rally. I will be looking for a pop...
Hey traders! On the monthly timeframe, oil is in the midst of corrective structure before beginning a third bullish impulse. As we zoom in, we see that it is currently in a sideways correction and is nearing a potential completion of a 3-3-5 flat. If the current wave ends in a 5-wave (C), we can expect a bullish impulse to follow. This wave is predicted to...
Mornin' traders! The correction has continued into a double-combination channeling zig-zag. The zig-zag is currently in wave-iii-of-(c)-of((y))-of-X which is not the optimal tie to enter. In addition to the wave count, a bullish bat is complete at previous structural support and may act as a catalyst to start the sideways correction into wave-iv. Since my bias...
Evenin' Traders! GBPUSD is correcting inside of an expanding descending triangle and has reached wave-(E). This trade takes advantage of a pullback after a bullish impulse wave which could be viewed as either wave i or a. So, in order to ride the following, usually stronger impulse which follows, we can wait for the pullback which has just occurred. There...
Hey traders! Here is an updated wave count on EURUSD. I'm looking for a bearish impulse to set off a potential wave-c. My preference is to sell the pullback on wave-ii-of-c and put a tight stop behind the start of wave-i. I will continue to update when waves complete or if I take a trade.
wave C of is going to end soon I've my first short at 78.6% fibo projection and I'll add more short if price moving up to 100% fibo projection
It's simple: Buy at breakout. Price expected to rise to 1.485
EG seems to be forming a larger ABC to complete a 4th wave up. I'm expecting a 5th wave down with an overall target of 0.8421. Look for a reversal sign around the 50% retracement on the current leg. Based on purely TA.
SL: 1.3155 Entry: 1.3020 (Limit Sell, pending UCT 2016-09-04 21:00:00) PT1: 1.2620
The price action is been ranging in a rectangle consolidation where it is forming a Regular Flat Correction pattern that indicates completion of corrective phase and beginning of a new bullish move or trend. A good risk to reward setup. Keep a Stoploss: 1290 Target 1: 1340 Target 2: 1375
They said "It's very difficult and confusing to trade a triangle.". I agree! When I first looked on the 4H chart, I saw the beginning of a triangle formation and was excited about the trade. Then I went to the 1H chart and have tried to count the internal waves to soon. That was a mistake and confused me very much, because the breakout didn't happened. But the...
USDJPY 4hr chart Most bearish wave count Sell below 100 Sell below 98.9