I still feel we are on a bearish trend on GBP/USD unless we break above double top resistance line
take a look at the 2 hour chart analysis i did. I will be looking to enter short between 1.2580 and 1.2608 with SL just stop loss just above double top resistance line
my PT would be on red square.
Thanks and please share your ideas or opinions
Today we'll take a look at silver on a 2 hour chart. Personally i think we are still on a bullish trend, i see a possible triangle formation as wave 4 or a double correction (WXY) I expect market to go about 19.560
It looks like EUR/USD trend is about to reverse. From my point of view i see an ending diagonal pattern still forming for wave C of a zigzag correction (ABC).
i'm looking for price to find support at .50 Fibonacci level before reverse.
As always i will be looking for a long entry after price breaks above wave 4 of ending diagonal (wave C)
Today GBP/JPY broke a very important support level which indicates market will continue bearish. Also i notice a bearish head and shoulder pattern formed and already broken.
I expect market to drop to 126.500 at least
Normally i don't do stock trading but Elliot wave applies to everything. According to my wave count on AMAZON bullish trend is almost over. we are getting close or we already are on wave 5 then market will correct
RSI, Stochastic and MACD are overbought and have bearish divergence.
Back on June 8 i predicted GBP/JPY downtrend was coming and now 2 of my 3 profit target have been hit and market is still bearish so i expect my 3 rd profit target will be hit as well.
What i can see on this 30 min Chart, since market started bearish back in June 5th it's a double corrective pattern combination labeled WXY where W is the first...
Today i'm sharing this 4 hour chart of CAD/JPY and without looking at Indicators i can tell we are heading to another uptrend.
you can become a successful trader by just looking at the market structure and symmetry. In this chart we can see 2 patterns a very hard to catch bullish triangle and a bearish head and shoulder pattern.
See how easy you...
today i'm updating GBP/USD on a 4 Hour Chart and i notice a bearish triangle formation has been forming since 3/20/20
ONE VERY IMPORTANT THING I NOTICE AND I MEAN VERY IMPORTANT
Notice wave c of triangle has throw over ( price penetrates temporarily above upper triangle line) which mean wave 5 may be short than wave 3
when throw over occurs it may...
hope you having a nice weekend
here is a trading idea for London Session. Notice wave b as a triangle shape, i hope price breaks above triangle and head to wave c of B.
this trade is very risky so i will risk 1% of my acccount. As trend moves on my direction ill move my stop loss to break even or ill set up a trailing stop
Today Analysis i expect further decline on USD/CAD if the pattern i recognize is in fact a zigzag correction (ABC)
RSI and Stochastic are overbought on the 1 hour and 4 hour. Price may go higher hitting the 200 EMA and .618 fibonacci level before start to decline again. one think i notice it's the RSI and stochastic are oversold on the daily chart,...