AlexPalmaFXTrader

AlexPalmaFXTrader Updated 

Hello Traders, just like i predicted last week USD/CAD bearish after hitting triangle resistant and breaking out ending diagonal support level, today the market is forming it's 5 wave cycle downtrend, currently on its longest wave (wave 3) . We expect at least another 100 pips to the downside after market makes another major correction. so far market is bearish...

AlexPalmaFXTrader Updated 

Hey Guys, GBP/USD Just break out resistance channel level in a 4 hour chart for which indicates bearish trend is over. i would go long after market pullback occur

AlexPalmaFXTrader Updated 

Is it really a wedge pattern formation right now on usd/jpy ? If so, what may happen is price is gonna brake above resistance level forming wave 1 and then retrace to form wave 2 and then the wave count continue. Any other opinion on this analysis ?

AlexPalmaFXTrader Updated 

Hello Traders. GBP/USD had some nice uptrend move last night during the Asian session. it looks like we are in an impulse wave right now(wave 3) and my confirmation will be a breakout to the resistance acceleration channel. Since we are on 4 hour chart i can expect wave 3 to develop on subwaves (i,ii,iii,iv,v )

AlexPalmaFXTrader Updated 

Hello Traders.This is my analysis today for GBP/USD on a 4 hour chart

AlexPalmaFXTrader Updated 

Hello Traders, Hope you had a good trading week like i did. Today i did a wave analysis on a 4 hour chart on AUD/USD and price still look bullish, notice how the 50,100 and 200 still shows strong support, however we may getting close to a major reversal as price get closer to previous support levels (resistance levels now). For this analysis to be valid i will be...

AlexPalmaFXTrader Updated 

USD/JPY from an Elliot wave perspective.

AlexPalmaFXTrader Updated 

Hello Traders an ending diagonal on 1 hour chart GBP/USD is almost completed and it looks like "a throw over on wave 5 just occurred " (a brief break of the trend line connecting the end points of wave 1 and 3). if this in fact a valid analysis expect a sharp decline retracing at least back where it started or even further

AlexPalmaFXTrader

Hello Traders Today i'm analyzing same chart as previous one. In this case we are still working on wave 3 of an impulse. Notice how price broke above base Channel upper line and it's heading for retest. If price holds support @ 1.0847 we expect a +140 pips uptrend towards 2.618 fib level @ 1.0991 finalizing wave 3 formation. Also notice the wave Equality on wave 1...

AlexPalmaFXTrader

Hello Traders, Today I'm Sharing Eur/CHF Analysis. It looks like a corrective wave is developing, notice also a possible Head & Shoulder pattern formation is developing as well. If my analysis is correct i will be looking for Long entry position between 1.0791 and 1.0748 with a stop loss just below the end of wave 4 of 3 @1.0732. If price doesn't retrace as i...

AlexPalmaFXTrader Updated 

+100 pips if break out above resistance level occurs

AlexPalmaFXTrader

sharp correction is expected for GBP/USD during London and US session

AlexPalmaFXTrader

Bearish Contracting Triangle formation. Enter at breakout of B D line

AlexPalmaFXTrader Updated 

What are your thoughts? Where do you think price will break?. Bullish or Bearish? I go for A A (Bullish )option 1: triangle shape on wave 4 B (Bearish)option 2: Triangle shape on wave b C(Bearish)Option 3: not triangle, instead an ending diagonal as wave 5

AlexPalmaFXTrader

Hello Traders, it look like EUR/USD uptrend is coming an end, price has been rejected several times from march 20 high (Resistance level now) and it also looks like an ending diagonal pattern it's on the way which tipically are formed on wave 5 or waves C . RSI and Stochastic are showing divergence indicating a possible reversal. for this analysis to be valid we...

AlexPalmaFXTrader

It looks like CAD/JPY rally is almost over. Price created what i believed is a corrective pattern ABC in which C is an impulse ending diagonal.Theory states when an ending diagonal is formed and hit bottom or top, a big reversal is coming, probably to the beginning of the same wave or lower. On the daily Chart price action is getting closer to a very strong...

AlexPalmaFXTrader

Breakout or Fakeout?

AlexPalmaFXTrader

Nice Zigzag wave formation with in the triangle suggesting that the downtrend it's over. I'm looking for buying opportunities now. Market has formed a zigzag pattern with Wave C possibly finding an strong support at 2 levels, 123.6% Fibonnaci level of Wave 1 and the May 2017 High (support level now)