GBPUSD looks making a 5-3-5 Correction after a nice bullish ralley but WEEKLY GAPS should also be considered.
its making 4th leg of C.
As per rule the wave 4 should be 38% 50% or 62% of Waves 3.
In Current Scnerio it looks like 4th Leg is completed @ 38% Fib Retracement
As there are 3 Conxecutive rejections found @ 38 % Retracement level.
I hope it will go down...
GBPAUD bearish Bat setup for bears.
Bears here is a short opportunity for you.
GBPAUD has completed Bearish bat on H4. As I have shown a strong RESISTANCE from where price had been rejected many times. I think it might retest the resistance once again but in the long run it will have to go down here.
for me 2nd reason for shorting GBPAUD is on daily weekly and...
Bullish Bat setup on EURUSD.
For Buying opportunities look lower time frames to buy EURUSD.
SL = Little Below to Point D.
TP1 = Point C
TP 2= Point A.
FOr me its long.
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Bullish Bat Completed in EURCAD H4 Time frame.
Week gaps should be noticed before entery the trade.
For buying opportunities I would like to look the lower time frames 1M or 5M.
Stop Loss will be little below to point D and TP1 will be point C and then TP2 wil be point A.
For me this trade is a profit trade as other than Bullish Bat its making 1st WAVE of E5...
Weekly Chart is clearly showing that USDCAD has just completed E5 Structure.
and now its ready to make Correction. It could be ABC. Where A and C will be short and B will be pull back.
If we see Daily or 4H time frames it looks a strong bearish trend.
I will look for short entries. As I have shown FIB Retracement in the chart. I am expecting that I will touch...
Last Week I post Double Bottom in GBPUSD 4 hours time frame.
As I Have shown in the chart with the RED Vertical line. Target is already achieved.
As GU is highly bullish it might reach 1.26000 which is a major Support-Resistance area and then It will go down.
On other handside It has completed bearish BAT on 4h Time Frame which is another confirmation that GU...
Recently USDJPY complete 5-3-5 Correction and now its making WAVE #01 on Monthly Weekly and Daily Time frames.
Current Short is the internal short term short only. In the Long run It will go long.
USDJPY recently broke the resistance 108.500 and price is moving below to it.
Its next target is 105.500 or near by areas from where it will bounce back towards 111.00...
EURCAD is making first wave of e5 Structure After completing 5-3-5 Correction.
Monthly, Weekly Daily time frames showing 1st leg is about 20-30% completed.
Its next target is 1.70000 or nearby areas NEXT Weeks.
For LONG Entries, price action like double bottoms or tripple bottoms or Buying on the strong supports in lower time frames would be good option.
GBPUSD recently touched the lowest point.
Corona Infected GBP. While Dollar was Strong.
Recently GBP Started Growing UP. and 4H Chart is showing a very clear Double Bottom.
Nectline is still not broken.
For me its long.
conservative traders will waite untill neckline is break.
but most of traders are long.
GBPUSD was recently making correction after completing E5 Structure at the same time, on the Monthly Weekly and Daily Time Frames.
Correction it made is called EXPANDED FLAT Correction. (Separate Pic of 5-3-5 is shown)
As I tried to show in the chart in this pattern C goes below to A and then Boom LONG UPTREND.
For me Its long.
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As we can see USDJPY has just completed or near to completed Bearish BAT at the top of H4 Chart.
Next will JPY will be winner and Target will be round 100-102.
For me its Short
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As we saw USDCAD was being pumped by the BIG Banks from last two days UPward.
Now I think Its gonna go down with the 90 Degree Angle as there is RSI Bearish Divergence Found at the TOP of the Daily Chart.
Here We can Expect 1.3600 or 1.3500 level will be touched soon.
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Last Week USDJPY completed E5 Structure and now its doing ABC Correction A & B are completed already now its will have to complete C leg of ABC Correction.Its a short with big SL as I noticed Big banks are already active in it and prices are moving up and down rapidly.
Currently USDJPY prices are moving around 106.800. in USDJPY BIG BANKS are active already.
OMG chart is showing clearly what happened with XAUUSD after making Bearish Shark in H4 just at the TOP.
For me it really worked perfectly last week and gave me good number of pips as well in short entries.
I think Gold has been retraced alot we can Expect a nice bull back here.
As per thumb rule any fallen market should be expected to get pull back not less...
As daily chart is showing clearly that USDcad has just completed the E5 Structure.
Now It will go ABC Correction. So We can Expect to much RETRACEMENT. But It May go Until 1.36000 Or 1.35000 Maximum. Then it will get a pull Back for ABC Correction and then Again for it will go down to complete its C leg of ABC Correction.
For me its short and I am already...