I've already included the reasons as to why I think it will be coming down but I will still write them here as well: Reasons to Short: 1) Double Top 2) RSI Overbought 3) RSI Bearish Divergence 4) Tweezer Tops The reason why I think is coming down is that in the bigger picture we're looking at a flat correction where legs A, B (98%) have been formed so we'll be...
This is just a simple yet helpful example as to how a trending pair works for those who are willing to learn something or improve their trading in order to have an additional edge over the market. I could have made this over EUR/USD and simply draw up the candles myself in order to get more views, but the recent example of NZD/CHF serves me much better, so...
I already posted the Weekly view of this asset on the 22nd of December (see related ideas section) and it went up to +16.50% eversince. Even though now it looks like it's coming down strongly I'm still confident that the upside potential remains (the power of structure). Will be looking for an entry at the $2.75 mark. My personal details: Long @ Entry: 2.75, SL:...
The pair is seeing some strong bullish momentum, and with Gold -0.31% showing a lot of strength lately it has keep this specific pair quite active. As of now I expect one more push to the 0.7695 level and we could get that whole push today even. Note the ABC labeled on the chart is an Exp -0.36% . Flat from the previous impulse. Now we can see an Inverted H&S...
The pair is currently in a Flag pattern, or for the Wave traders in a Zig-Zag correction. The pair is showing bullish signs: 1) Bullish Divergence on the 4H 2) Shooting star at the lower level of the channel on the 1H We don't know if the C leg of the Zig Zag correction is over therefore any profits you make it's wiser to lock them in as soon as possible. My...
The shoulders are sitting way too low in order for it to qualify as a H&S pattern according to my plan. As a matter of fact there are a lot of signs showing bullish momentum. 1) Weekly Bullish Divergence 2) Soon to be completed double bottoms 3) Flat Correction complete from the most recent impulse Merry Christmas to you all and wishing you a profitable 2018!...
The pair is currently still correcting and we could get one more strong move to the upside. Bear in mind though that in the bigger picture (Monthly chart - which i will post as an update) we are still within a Zig-Zag correction (wave 4 to be exact) therefore I would be very cautious and lock in profits as soon as possible. Note how leg C looks like it's...
As highlighted on the chart it seems as though USD/JPY is 1 step ahead of USD/ZAR. If this is indeed the case then we can expect a monster move up from USD/ZAR. A similar case occurs with the CAD/JPY + CHF/JPY and I have already made a post for those who want to check it out. (see related ideas seciton). As of now there is no clear buy setup for USD/ZAR...
The pair is currently forming an Ending Diagonal . Ending Diagonals tend to form 5 actionary waves, but this is of course not the always the case as they also sometimes form just 3. As of now 3 waves have been completed so the pair will either drop now or will complete the 5th and final wave and drop after breaking/retesting the 1.3400 level. We have no clear...
Expecting Gold to make one more move up and retest the 1340-1360 levels before coming back down to the 1130. It 's still a little early to say whether it will be a Flat correction or not but I'm definitely expecting a move to the downside. The possibility exists that it won't go for the 5th wave up and will just drop from where it is now. Whatever the case may...
As of now it is still not clear whether we are in a flat correction or not. It could be that all of the correction of the impulse up was the Zig-Zag ABC highlighted on the chart. Should that be the case then I'd only be looking for a move down to the 1.054x level. If the pair makes one last move up and breaks/retests the 1.142x level that constitutes a bigger...
On the 19th of October I posted a chart on this pair, calling a potential +1000 pip target. Since then the pair has moved 800 pips towards the primary target. What the pair is showing now is a sign that we could be getting one last push up and reach the final target. Triangle corrections tend to precede the final actionary wave and this is exactly what we're...
An almost perfect flat correction, with a hammer candle on the Daily TF right at the level of the A leg is a clear indication that BTC could be getting ready for a new set of highs My personal details: Long @ Entry: At market, SL: 12000, TP: 20000 For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000...
The pair has already completed legs A and B of the sequence and leg C is already underway, however there could be a good opportunity to join in. We are now at a pretty strong level of resistance where I expect the pair to "bounce off" of, catch its breath, before the downside continues. My personal details: Short @ Entry: 1.1800, SL, 1.1850, TP: 1.1470,...
A textbook long setup. The pair made a strong impulse up followed by a Flat correction (yet to be completed). Currently the pair is forming the final C leg of the sequence and it's a textbook setup for the reason that it happens to be an ending diagonal which further confirms that the correction will soon be over. The Stochastic on the Weekly is already heavily...
I will be posting the Weekly TF of the pair to show what is going on in the bigger picture and why I think it's going up. As it stands the pair is already, or almost finished forming a Flat correction therefore the next assumption is a move to the upside considering the previous impulse. We are forming an Ending Diagonal which acts as further confirmation that...
After the most recent impulse the pair has been forming a consolidation for a few days. Now the consolidation is either a Regular flat or an Expanding one. I am slightly favoring an Expanding flat more for the reason that the pair has not formed 3 wave structure up to the top but only 2 so far. So I expect 1 more brief wave up before the bigger move to the...
From the looks of it the pair has completed an Expanding Diagonal, therefore I expect a deeper correction to occur if the pair is to continue moving higher up. On the Weekly TF we also have a rather strong Bearish Divergence which is why that could be signalling a deep pullback in the making. My personal details: Potential Short @ E: 134.50, SL: 135.30, TP1:...