Price in EURUSD being is in a corrective structure, has formed a bearish AB=CD pattern. We now see that it's going down and has broken a short term support level (blue trendline).
Stoploss should be placed above D point of the pattern at 1.14990
Profit target should aim for 1.10795
The above managenment gives us a nice 2:1 r/r ratio.
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John
Trade Journal Entry
AUDUSD for now appears to be held by daily and weekly resistance trend line. On the 4 hour there appears to be a five wave count, a strong trend with extensions in wave 1, 3 and 5.
There is a solid A, B, C wave.
Looking forward to seeing if the daily trend-line resistance holds and we see a continuance down, or a more complex corrective...
Counting waves to this one was very easy. Since 2011 price is moving in descending channel having formed the first 5 waves of an elliott wave cycle. A bullish divergence in RSI pushed price higher breaking the long term resistance upper TL of the channel compliting wave A of the ABC correction pattern which follows the 5 waves.
Price is now entering a key...
Gold was moving in descending channel since the beggining of this year with price breaking the resistance of the channel last week. This on its own is a powerfull bullish signal but there is more to add. Counting waves we can see that price is developing wave iii of five of a larger wave 3. When it comes to elliott wave analysis trading wave 3 in a larger wave 3...
Price in EURUSD is moving into a nice rising channel having already formed ABC of a five wave ABCDE corrective structure. In my wave count we are close to CD wave completion where a nice short setup may occur.
Watching closer we can see that price is moving once again in a smaller rising channel and it needs one more move to the down to complete the CD wave of...
I decided not to count waves with this one as we have a very clear picture on the chart. USOil after a huge sell off, climbed with a sharp move breaking a medium term resistance level (blue trendline). For the previous days it's in a corrective structure moving into a descending channel. If price moves lower we will have the completion of a bullish butterfly...
In the previous days i've watching Dax closely. Yesterday i came with a post explaining that dax is in a corrective structure ready for a sell off. Looking now to the chart i have indetified two harmonic bearish patterns, a bearish gartley and an ab=cd pattern forming in a key resistance level. In addition we have an abcde corrective pattern completion at the same...
Although my overall analysis in silver shows that price moves to the down, we now have a high probability long setup. Price is testing a key support level (black trendline in the chart) and has formed two harmonic patterns with both their D points exactly at the support level, bullish gartley and a bullish ab=cd.
Speaking in elliott wave count, we have a...
A nice bearish setup has formed here in Dax. Price is in a corrective structure having already formed an abcde pattern. E point has formed where price is testing a long term resistance level ( black trendline ) and a short term resistance ( the upper trnedline of a rising channel, the purpple one in the chart).
A nice way to trade this setup is to move to a lower...
Last week i shorted GBPUSD and this trade is been working very well till now. Price is heading towards our initial target but i have already trailed my stoploss for excellent profit. You can see the progress of this setup in the related link below.
Let's analyze now a new setup which looks very strong. Price is moving in a corrective structure into a nice...
Looking at the higher timeframes we can clearly see that GBPNZD since April is going up in a very sharp way. Price now tests a critical resistance zone which is easy to see in the monthly chart. In the daily chart we have a bearish divergence with RSI something that adds a lot to our thought about shorting this pair. In the lower timeframes (1h, 2h) we have a...
After a sharp move to the upside, price has completed a typical 5-3 Elliot Wave cycle. At the end of C wave we have a bearish gartley pattern completion. At the same level price tests a long term resistance level. I believe with have the odds on our side with this one.
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Audusd has completed a 5 wace cycle to the down with wave 5 ending at a major long term support level. What we expect now is price to start a correction with a bullish divergence with RSI adding to that. I have already enter with a long trade, but another way to trade this market is to wait for price to break the resistance of the channel (black trendlines), wait...
Eurusd is moving into a corrective structure into a nice rising channel. Price needs to move a little more to the down in order to complete a bullish gartley pattern with its D point exactly at the support line of the channel.
In addition we can see in the chart that after the gartley pattern completes, it needs one more wave up to the resistance of the channel...
Looking at 4H chart of AUDCAD we can clearly see that price has formed a complete elliott wave cycle. Price went down in 5 waves, and after a typical divergence with RSI it moved up into a correction in 3 waves ABC reaching 0.618 of the impulsive leg (waves 1-5). A very classic cycle..
Having in mind that we are in an overall downtrend this is a very nice setup...
Although Procter & Gamble delivered quarterly profit that topped expectations on Thursday, it marked the sixth-straight drop in sales. Revenue of $17.79 billion was below forecasts and lower than last year's $20.16 billion, as P&G continued to be weighed down by a stronger dollar that stripped the value of overseas sales. More pressure is yet to come as the Fed...
The linear chart has interesting crossing channel.
Now that SP500 has officially marked a wave 5 since oct11, it could be due for a big wave IV since Mar09.
This big wave IV could start before year end or be delayed into early 2015 from around 2100 if the santa claus rally happens (which i don t believe in right now against odds).
The big wave IV should correct...
