As you can see in the chart, this whole down leg (from mid November) has been a sequence of break support, make lower low, retest breakout level (support turned resistance), break support etc. You can see in the chart where each retest has occurred and we are now at that level again. We are also ~$10 off the 10 November 2013 low. To me this says we should see a...
After reaching almost 2100 (2092.6) PA turned down, broke 2079 (previous high level) and as mentioned yesterday on Twitter came into the 2017 resistance. Currently at TL of the Wolf Wave.
The target of this bearish move is around 1960.
Falling Wedge is by definition a bullish pattern and mostly ends to a reverse strong move.
There are 2 interesting WW (Wolve Wave) patterns on the falling wedge.
Both are annoted, red one is the most obvious.
We are now in the "5" areas where it's very interesting to set some long orders.
NO longer a valid pattern!!!!
It all comes together.
I see a 3 drive to a bottom lining up for nice Wolfe wave run and a 5th Elliott wave down ending a little tiny bit lower into the middle of the trend channel.
I'm bullish the cross.
Safe trading ladies and gents!
Today EURUSD blew away the triangle in both directions to make it merely a flat.
Hopefully our stops weren't so big so the loss was bearable.
Now it's heading towards our Wolfe Wave target from last week.
The interesting fact is that as you can see the Wolfe Wave target has made a tight zone with 38.2% retracement line for the whole leading diagonal that I...
I'm witnessing a perfect, textbook Wolfe Wave setup in our greatest pattern forming pair, EURUSD.
It's basically a Leading Diagonal, which means it's a First Wave of a new Five Wave down move.
But as Elliott suggests, there would be a sharp and fast correction after this 1st wave completes.
I've counted the internal waves and as the 3rd wave iii...
While I don't know a lot about the Wolfe Waves pattern, I am wondering if it could be possible that we have one developing on the daily time frame. It may be too early to tell and I'm just jumping the gun a little.
I don't think it will become apparent unless we get a point 4 to print on the chart. This will then let us determine the 2-4 line and therefore the...
An interesting pattern is in the making. I gave an first draw, the wedges are not so well defined so it's quite difficult to say if they are valid.
All my eyes are on the BTC/CNY pair because this is the one which leads the market right now.
For any explanations I forward you to the related idea (see below) where the WW pattern is well explained. To make it...
Wolfe Wave - the Elliott Wave for lazy people. Sometimes an extremely effective tool. Around 16400 - we have strong support zone. If the defense will be successful - we go back to the north.
Distribution in progress.
Nice S/R short trade with a bearish WW pattern showing-up, increasing the probability of a down-swing.
Proper price-action confirming the selling vision.
Target @ next Support with confluence with the EPA
UK took a big hit today with GBP opening gaps -1% over almost all currencies, due to Scotland independence surveys.
The short is quite easy and the risk reward very good.
* resistance unbroken
* GBP in freefall
* Instability due to Scotland
* And cherry on the cake, we may have a Wolfe Waves Pattern playing there, with Target Price around 6400 (5% Gain).
Bullish WW pattern,
Entry @ the 1H time frame with a Pin bar,
Trade going with the trend,
Reward: Between 13% & 28% (Depending-on when the price hit the Target-line)
R/R ratio: Between 26 & 56 (Huge!)
Trade management on Daily time frame