Looking for one more up on Gold. Just reposting my same markup, been trading it back and forth. If you look at the daily with bollinger bands and a 200 MA you can take a different look at it.... At that point, If we get this move up, might sell it for one more dowm depending on how things are looking.
Ecad seems to be on the way down for at least a correction. If a "C" wave, I would look for another flag from that zone area (1.618 extension) for another push down to the .618 for equal length. I would look for an even smaller flag to form as it is hitting this low.
Considering that Gold did a 3 wave "W" and then followed it with a 5 wave "A" , I am looking for a 3 wave correction (doesn't mean it can't be in the form of a zig zag instead of flat). However the fibs are looking like we will get a W-X-Y pattern playing out.
Considering UJ did a very simple correction followed by "B" wave like wxy structure breaking the high, I'm looking for UJ to make a running flat here....
Look for Ucad to make a correction to go down in a 3 wave. We may end up with a running flat (In the bigger picture of things) giving us one more nice buy on it before the drop, but as of now, all these cad pairs are corrective in WXY patterns. But I will wait for some kind of flag or pullback since these combo patterns can always expand.
At this point we simply measure and count out to have a double combo pattern for a "B" wave. I said I would prefer to see Uchf retest zone. It did and I circled where the "Real" sell setup was. The thing about trading these combo "B" wave patterns is you have to understand the possibilities and time your entries properly. Can it correct and go up more for a triple...
AU, similar to Eur/Usd. We may wind up getting some consolidations and more downside, but right now they look like they are going to finish out corrections to break the high. I just got back home from out of town, have not had much time to go through everything. When I look through the Aud pairs I can see some upside on the others, but we are in corrections...
I'm looking for EU to break some highs. If it breaks first high, take partial profit, slide stops. A WXY pattern here takes it up to break the top into that zone. I think we are probably still within a correction to push down again.
With the double three correction complete, ETHUSD could be starting a motive wave. There is a potential impulse wave 3 currently in progress. Wave 3 has already broke above the wave 1 high and has also hit a 1:1 extension of wave 1. Wave 3 will be invalidated if ETHUSD goes below the wave 2 low. However, if ETHUSD drops below the 404 level, it could mean the...
Right now is not the time to buy this, but it should push higher. Right at the moment it is selling. But look at daily TDI, plus pattern and Fibonacci... Once it completes the WXY it may have continuation down for a longer term trade from that box. The real buy setup was missed, maybe we get lucky and it creates more of a combo correction here and then we can buy...
I hope you caught that buy... Now the question is, did we complete a combo pattern "B" wave? If so, one heck of a trade in a "C" wave. So Far, this correction has played out beautifully as one to trade, ever since the breakout of the choppy channel labeled "A". Should have caught the sell from breaking the high, sorry, been busy with other stuff. Just be careful,...
Refer to my weekly analysis first. If I look at this last move as a 3 wave (which is what I would expect with the larger swing pattern).. It came off equal length at the 50% fib retrace. That box would be where I would be looking. They may not drop it down more considering people watching the trend line. It will come down to whether or not the dollar is done and...
Gold counts out pattern and fib wise for one more up, every way I look at it which would make sense, breaking the high it never broke. When you look at the chart with nothing on it, it looks like a sell, but not when you consider the modern swings of the market. It is at the 50% retrace, approaching the 200 MA on weekly. It just reacted to the 800 MA on the daily....
Watch NU at the .618 level. You have equal length lining up there also, pitchforks. Very strong level. Wave pattern on the larger scale tells me one more up to break the high. AU has been holding at the .618. Would be worth taking a look at Aud/Nzd when NU hits the .618 level. May get a sell on it when that happens. I think NU is correcting to complete a larger...
EA looks to have produced a sell setup. I would think we might get a trend line break. It is coming off the 50% retrace. You see the .618. I would think we would get a larger structured correction if it is gonna go down more. We have what looks to be a "W", so I would be looking for an X. If it hits that first zone, we may get a quick 5 wave up to the .618 when...
I know you can't see the chart, neither can I. But what I can tell you is that the 134.00 price level (basically the .786 from B-C high to low, is a key fibonacci level for many reasons, pitchforks, multiple trend fibs. I've looked at this pattern every way I can and it labels corrective every time. We may even get a nice sell from here, but that's a totally...
CJ seems to be counting and measuring out to make a double combo pattern long term. Right now it is breaking the .618 retrace and looks like it is making a small buy setup on 30 min.. possibly. Yes it's been going down and there is no way for me to properly explain this concept or how or when to go about trading it. But right now we have a 5 wave up and are on a 3...