I'm still short on MCL but it looks like an ending diagonal is taking place for wave 5, IF this is the case i will expect an explosive bullish move to $97 once the pattern has unfolded. I will be patiently waiting, for now i will continue taking short trades
According to my wave count, i expect another decline for silver below previous low. It looks like we are at wave 4 of C that is taking a triangle shape. if that's in fact a triangle, i expect Xag/Usd trading between $18 in the next few weeks. After that occurs we have had completed a bearish wave pattern. Only time will prove me right or wrong
GBP/JPY getting bullish. currently working an impulse wave. we are still working wave 4 and heading to wave 5 @ targets above. another more bullish wave count would be that wave 4 is wave 2 of 1 that means that we are heading to wave 3 which is the strongest wave of an impulse wave and i expect prices to go higher than fib targets
thanks and happy trading
here is another wave update on GBP/USD
first impulse wave, fifth wave is extended, Wave 2 has a weird corrective pattern possible a zigzag
I expect price to find resistant @ 1.3669 then will head to wave 1 of 3
If price breaks below 1.3574 I'm wrong
Ill wait for market price action to confirm my assessment to enter long
I expect prices to push lower below $22 in the next few days. We are currently working wave 4 (Triangle pattern) I will enter short once price breaks below BD line, I expect some volatility on silver and Gold as well
Please like and share your analysis
GBP/JPY has been selling hard in the past few weeks and despite it recent rally and possible bullish head and shoulder pattern formation, i still consider this pair bearish
i have identify this recent rally as an ABC formation wave A in 5 waves Wave B wxy combination and wave C another 5 waves possibly. Notice how quickly prices rally during wave A...
Silver is still bearish. We are working the final bearish wave of a WXY pattern where wave W is a Zigzag Wave X is a Triangle and wave Y should unfold on a 5 wave impulse
Please share your opinion in the comments below.
Thanks and happy trading
According to my wave count GBP/USD is on a corrective wave right now, i expect prices to break below the previous low at 1.3731 and if that happens price can go as low as 1.3400 since we will have bearish head & shoulder pattern breakout level, please be advice that is a 4 hour chart and if my analysis is right it make take several weeks to reach my...
I've identified an ending diagonal on AUD/USD. prices may soon turned bullish. This is a great trading opportunity because whenever an ending diagonal takes shape, price action tends to be swift, retracing the entire length of the pattern, in this case 0.7762