We cannot say with certainty that the pair will be completing the 5th wave of the Ending Diagonal formation. The possibility exists that it could shoot down from the price it's currently found at. In my opinion, with how structure works it should make the last wave up, breaking the 1.172x level before the downside begins. Looking at the bigger picture, the Weekly...
As indicated by the chart we should start expecting a deeper correction before one last push to the downside. Should the count be incorrect, the possibility exists that the pair could just take off from the Buy Zone I highlighted on the chart. However, I still strongly believe there's one more leg to the downside in order to complete a much bigger correction of...
As we can see the pair is found in a very complex structure which makes it too difficult to analyse and fit into one pattern and that could potentially be dangerous, but for the moment as it stands it's safe to say we can expect some upside for the following reasons: a) Flat correction of previous impulse is complete, b) Bullish Divergence, c) Hammer on the Daily...
We can clearly see that the pair is still in a correction, specifically in an Expanding Flat according to my view. Legs a and b have already been completed and I am now anticipating the 3 and final c leg to finish up to the 0.9080 levels. One more small move to the downside (0.8610 level) is possible but the overall bias is to the upside. One more confirming...
As stated by the title we are setting up for a very big downside move should the forecast play out as expected. (300-500 pips). As of now we still don't know whether we are forming a Flat correction or an Expanded Flat correction on the major degree but definitely looking towards the downside. We did get a major Shooting Star candle at a very important level and...
We can see that the pair is now ranging at a key structure level (89.67-89.28) after strongly breaking through it and I expect it to consolidate some more within the 89.67-87.77 area, before a possible bigger move to the downside retesting the 85.40 level. Personally I'm only interested in the downside moves. Check out the related ideas for a longer term view,...
We can see that the pair completed a 5 wave Expanding Diagonal and has already bounced of the top of the channel. It seems like it found some support from the most recently broken structure level (1.1130) and we could be seeing in my opinion one more retest of the top, before a big drop, just like it happened in the past (light blue highlighted area, swipe to the...
We can clearly see how strong the momentum is to towards the downside. Even though the bulls were able to push back up, 78.6% after the 1st push down, the bears were able to take over again with one more strong push down, which is not over yet in my opinion and which I expect to go all the way down and retest the 75.65 - 76.40 range. We can expect a minor...
No need to explain the charts themselves pretty much sum up the title of this post. The only thing I can say is that I'm definitely looking towards the downside on both of these 2. Trade safe and implement your own due diligence before entering a trade.
For the regular chart pattern trades out there we can clearly see the formation of an Inverted Head and Shoulders pattern and we're currently nearing towards the completion of the right shoulder. As far as the wave traders in my eyes, we are found in my opinion what we call a flat correction. Legs a and b have already been completed and I am now anticipating...
It's safe to say that the pair is still correcting and will be doing so for the next couple of days after the most recent impulse starting the 24th of August (139.50 - 152.75). Now in my opinion we could be seeing a zig-zag correction and what makes me believe that that is happening is the fact that leg a was only a shallow correction relative to the size of the...
The pair is still consolidating/correcting after the most recent high at the 1.2090 level. We have now found ourselves in what we call a Triangle correction where legs, a/b/c/d have already been completed and we are now anticipating the final e leg of the pattern. Now the problem with correction is that you can never really know what type of correction you're...
The pair has formed an Inverted Candle at a key level (Top of Descending Channel which has a confluence with Major Resistance Level) but at also at a Key Time Frame (D Chart). Could this be a Stop Run? We can see a very similar scenario occurring in the past and almost the same exact technique (Stop run) was employed before reversing the pair to the downside for...
As indicated on the chart we can see that there has been a strong impulse from the 90.xx levels down to the 87.xx and as we speak the pair is still consolidating and forming a flag formation. Flags as we know are continuation patterns therefore I expect some more downside, at least one more leg down to the 86.xx levels. My personal details: Short @ E: 88.70, SL:...
As indicated on the chart we can see the formation of an Ascending Wedge pattern and consequently the potential formation of a Bearish 3 Drive Pattern at a confluence with a major resistance level - specifically the 54.50 which would also serve as my entry point. My personal details: Short @ E: 54.50, TP: 50.28, SL: 56.00, RR: 2.75 For risk and money management...
Although this post is intended for the shorter term, even if we look at the bigger picture (Weekly TF) I can spot an Expanded Diagonal correction and we would now be at the final 5th leg of the sequence going up towards the upper level of the Diagonal. I will be posting the weekly chart for reference. Also as further confirmation we can see the formation a...
This downtrend began on the 30th of August 2017 and it looks like there's nothing stopping it, just a clear path ahead for more downside. We can see that It bounced off the major trendline and I expect it to consolidate some more before the bigger move down. I do think there are some good long opportunities as well, although I would be keeping them very short...
In my opinion the pair has just completed a brief and minor correction and we could be setting ourselves up for one last move up retesting the 114.30 level. I am awaiting further confirmation as the pair's next move is still not very clear but I do remain a little more biased towards the upside rather than the downside. Trade safe and implement your own due...