The reason why many people get confused when they look at the BTCUSD chart is that we have a rather complex WXY correction instead of the typical ABC or ABCDE. This chart is looking very good I made this count back in August (see original count down below) and it still holds true. It just took longer than expected. How is this chart structured? You see 3...
The way Chf/Jpy has acted in this small channel as it has broken out makes me expect more of a pattern moving up. This "X" wave could become more complex though.
This is the spot XCU can go up from. If it breaks the last low I might look at it differently. It would need to make a correction to confirm a sell as far as I can see from the pattern.
We thought the downdraft in October marked "ABC" on chart was the correction. But... We got another pivot at the .62 Fibo, where B turned, now X turned again. Looks like we got a larger WXY wave. ABC was the W that formed first bottom. If this pattern completes, expect -33 on the ABC leg to approximate the X-Y leg. This would put Sand P down around 252. For...
aud/chf is a lot of pips down to correct a WXY. It is definitely a 3 wave pattern. We could get something that goes sideways or makes an ending diagonal, but its already turned down on the 4hr. Just keep in mind that it may do it in the form of a flat, possibly double topping in the bigger picture. Then depending how things go, it may become a nice buy again.
Aud/Chf is trending up, but counts and measures out as a WXY. This supply zone may be a place to scalp it off (see 1.236 extension), and then leave something to see if it makes a bigger correction.
UZAR is in the process of making a double combo pattern. When it breaks that level it can go into a more complex B wave, like a flat type structure. So definitely watch that yellow zone. But by the time it is done we should have some large corrective structure that extends down to retrace the 5 wave impulse it completed. So there could be a nice buy coming but...
Who got that trade? Blue MA is 800. Red is 200. I would consider it to be going up and would continue to look for buys on any pullbacks.
An ABC WXY correction structure has completed with an accompanying stop-hunt within range - Bulls are expected to resume gains either by the end of this week or the start of the next - Entry, TP and SL given
Aud/chf looks like it may be making a WXY pattern that could break both of those trend lines. It's short currently after breaking out of that diagonal.
Look for GU to break the last low and then pull back up to break the high.
The second wave has completed and the third longest wave has begun - A break from our downward channel has indicated our long entry - Take profit is at the 1.33447 area
The ABC , WXY correction has completed within a nice demand level - A break out and close from the displayed flag pattern would indicate further upside for the pair, entry based then - Stop-loss and Take-profit given, more to break even when the top of the flag has been reached
GN rejected pitchfork as it broke 1.236 extension of a potential WXY pattern for a "B" wave. It either did a contracted flat for more upside or it is still in corrective structure. By looking at the divergence and 2 shark fins on the weekly, I feel like we can get some downside. The move it has been making up is a corrective move (all waves overlapping, following...
For you supply and demand traders. Eur/Aud is showing divergence. This is a supply zone of extreme importance considering the price pattern and fibs. It's going down at the moment, but we don't necessarily have any confirmation yet (this is high time frame stuff and a large zone). If EA was to push up, equal length to "A" would take it to the .764 fib to break the...
Hello Traders, this is my anticipation on GBPAUD. Thank you.
I just realized I really should have had a sell limit at that 1.236 extension considering the pattern. It is possible to get something to go down to break that trend line before another wave up. Kinda what it looks like but you gotta be careful with it. Looks like it just made a flag on 1 hr.