Here we can see the chance of an impulse developing to the upside, as the wave ii had overlapped the wave i), it can't be the iv), so the most probable is that wave iii) is extending into a new wave. The wave iii is now at the testing of strenght point, must remain above the base channel to indicate that this strenght has not decreased at least to reach the...
This is a chart following up the wave count presented few days ago, as you can see the price bounced from the zone originally predicted, the new upside fase will be confirmed at the time the ((4)) breaks.
Here today I'll like to show you a trade setup that I think will have problems to work, just to ilustrate the importance to watch all ways for a good risk reward. The reason under this theory is that as we are looking for spots where the majority of the money at trade points to our direction, is vital to avoid any discrepancy that could erode that majority...
After the long decline seems that there is a chance to be a triangle evolving. If turns down before 14.85 the chances get even more.
This is my actual theory about elliott waves for copper.
I have seen before a huge lack of atention in what i think must be one of the toral rules of elliott wave's principle and is the one that states: If supposed wave 4 overlaps the end of wave 1 means other pattern is underway. Here are a clear example that ilustrate the importance of attend this rule: If we "let" the wave 4 overlap the 1, we can say here that we...
Here a simple trade set up: The fail to reach the .8584 after break the uptrend line gives the idea that the recent movement to the .8554 was only a pullback to start a new down trend. If you add here that we have a potential evening star (have to wait to the candle closes) and a gartley accomplished before that just at the 76.4% fib retracement of the firts down...
Given the triangle that in RSI had given a good pre buy signal we find that if the price confirm the upside break out, the chances for a long to the weekly resistance zone of 137.82 are good. Therefore we will wait to see a close above the 129.95. At one to one risk reward ratio, place the stop at break even and then wait to see if the price reach 137.82. Just...
Yesterday the battle was lost for the bulls, they got the control in their hands for a while but at the end the bears won. The problem, even so, remains with the risk reward. 1) the most strong resistance is still quite above the actual high. 2) the very first support is some what near to have a good risk reward ratio As long as the price do not close above...
Still neutral but could be short in a day or two. What we have in the crude is the chance to show confirmation of the buyers throwing out their buys at triple resistance system. When the price fails to break, is time to reverse, and in this case, come following more unbeaten resistances before. The only issue here is the nearness of the support therefore the risk...
Here we have a interesting conjunture, where the retrace of the last upside impulse could be interpreted as a restart of the downtrend by a good part of the traders, because of the extended previous decline, even if it ends to be just a pullback. Our objective is the base channel in convergence with the 61.8% that will be the most common retracement if turns to...
The GBPUSD had been riseing last week and at the beguin of this one, but as well we should not ignore the fact that as far as now, this seems to be just a pullback from the huge down side movement. The question here is, the 50% retracement will be tough enough as to bend the price, should we be prepared. The reversal zone starts now but can extend till the 50%...
In the rise from the 1.00819 the USDCAD have a very clear impulsive wave till 1.0258 but after that gets messy. Given the fall to the actual lows in the pullback, think thats the better theory that fits the actual pattern
The idea here is exploit the fact that the USDJPY seems to have trouble to break the 100 level. If the pair close below 98.43 the chances for a more profound pullback increases. The first part of the trade is sell with stops at high and take profit at 95.76 where we should close at least the half of the trade. Then we can look for the more agressive target that...
As you know I published a long term chart showing the bearish implications for AAPL due to a huge H&S The prognosis still the same, and even when in the short term an upside pullback could appear, the scenery even in the daily chart shows the same down side direction. As you can see, there is a movement that shows two bearish impulses, the last one still not...
Yesterday I saw a lot of analysis predicting a huge decline in the EURJPY, I dont think so. If you observe the last impulsive movement, have some peculiarities. The 3rd is extended, and I understand why when the 5 exceeded a bit the 1 to 1 proportion with the 1st wave people get excited to anounce the end of the wave, but i think that there are more guides that...
This is a glance to the long term perspective to the Gold under the Elliott Wave Principle view. Observe that a more down side push will be needed to discard the 4)) wave possibility
After a huge blast candle, the AUDUSD have a very good probability to experience a more strong pullback, and if this friday closes above the 1.0344 will have enough to show a very reliable morning star (japanese candle pattern). The extraordinary risk reward on this setup makes more desirable this trade. As a cautionary measure, you can move the stop from the...