Aqua_Trader

Aqua_Trader

For the Wave traders out there in my opinion we are in what we call an Expanding Diagonal. For this exact reason I gave this title to the post because Diagonals usually occur at the end of trends and could signal that a reversal is in the making. Of course we also have Leading Diagonals but those occurs less often and after looking at the bigger picture (W TF)...

Aqua_Trader Updated 

We can see that according to my perspective the pair could be developing an Expanding Flat Correction. The pair is already facing weakness from the bull side at the top of channel which is why I'm considering a short position. Currently awaiting further confirmation in the form of a strong breakout before entering. A strong break above the top would invalidate...

Aqua_Trader

Looking at the shorter time frames there are some long opportunities but looking at the bigger picture (W) the bias remains strongly bearish . Therefore any long orders should be very short term. We can see that the pair now is encountering some resistance (Area highlighted in Grey) which is why I expect a minor pullback before the bigger downward move. We don't...

Aqua_Trader Updated 

We can see that the pair is still in consolidation after the most recent impulse. Now I'm pretty confident in that we're looking into some sort of Flat correction. The question is which of all is it? Legs A and B have already been completed. We're now looking at leg C. For now what we can expect is a minor retracement (Also due to the fact that we have a...

Aqua_Trader Updated 

Experimenting a little bit with the Line chart. I believe it gives a clearer picture of the overall view so hopefully I was able to demonstrate just that. As indicated on the chart we're probably in a Zig-Zag correction still and we're in the Final C leg of the formation. Therefore for now I expect some more consolidation before the pair moves even...

Aqua_Trader Updated 

Looking at the bigger picture (Weekly timeframe) we can see that the pair is still in consolidation mode, specifically in an Expanded Flat Correction. Now looking further ahead I personally don't think that the pair will be going much much lower for the reason being that on the Monthly timeframe it has broken through a Major Downward trendline. Apart from that it...

Aqua_Trader Updated 

As stated on the title this happens to be the most creative I've gotten with a chart, yet it covers one single but very important aspect which is Market Psychology. Market Psychology is key to understanding financial markets and we can see it unfold with this chart analysis. We can clearly see all the stages labeled out during the uptrend and what is now happening...

Aqua_Trader Updated 

We can clearly see that the pair is in some form of consolidation. Now we cannot say for sure that it is an expanding triangle. It could very well just be an expanding or even running flat. Whichever the case may be though I'm personally still looking towards the downside for the next few days. Awaiting further confirmation and a breakout, but we can already...

Aqua_Trader Updated 

We can see that the pair according to my wave count is in the 4th wave, currently in a correction phase. I am expecting it to retrace up to 38.2% Fib (we can see there is a nice confluence between the 38.2 fib level and the trendline itself) before one more wave to the upside. This specific setup given that everything goes as expected can provide a great...

Aqua_Trader Updated 

We can see that the recent bull run is starting to run out of steam (Price Action + RSI Divergence serve as supporting evidence). In any case I wouldn't be entering the trade unless a flag forms, or some sort of consolidation followed by a breakout as further confirmation. Never enter a trade blindly just because of what you think will happen because as the...

Aqua_Trader Updated 

We can see that the pair is at the bottom of the channel, and both from the Price Action and the Bullish Divergence (on 12H, DAILY AND WEEKLY TFs) itself we can easily assume that bullish momentum is building up which is why I'd be considering a long position to the top of the channel and when and if the price reaches that point we can then start looking into the...

Aqua_Trader Updated 

We can see that the GBP has gained a lot of strength in the past couple of days, something also backed by positive economic date. From a technical standpoint right now we could be seeing one more wave to the downside should my wave count be correct. Looking at the bigger picture I believe we could be in a FLAT or EXPANDED ABC Correction. I'll post a screenshot...

Aqua_Trader Updated 

We can see that the pair has formed a nice Double Top at a major level which is why I'm considering short positions for the near future. Looking at the bigger picture we could be in a Flat ABC correction, whichever the case maybe I'm looking towards the downside. A break of the upper trendline should provide even more confirmation, while at the same time we can...

Aqua_Trader

We can see that the pair has been in a downtrend for a couple of weeks now but there's bullish momentum building up ( We cans see that from the price action as well as the Bullish Divergence itself) so a breakout towards the upside could be happening very soon. Personally I'm expecting one last minor push to the downside before a bigger move towards the upside...

Aqua_Trader Updated 

The pair has been in consolidation for the past 2-3 months in what seems to be a Triangle correction according to my own wave analysis. It is now reaching the bottom level of the Triangle (C) and has shown a few signs of reversal and an opportunity to go long as indicated on the chart (Hammer + Divergence). Therefore I'll be waiting for a few more confirming...

Aqua_Trader

We can clearly see both from the Price Action (Hammer + Shooting star at the bottom level of the small descending channel) but also from the Divergence itself that we could be setting up for a minor correction before potentially one more big impulse to the downside. I'm looking at this correction as a potential Running Flat one (you can correct me on that one,...

Aqua_Trader

We can see that the pair was strongly rejected by the upper level of the downward channel , therefore I'm expecting a probable zig-zag correction of what seems to be the 2nd Wave of 5 Wave move UP within an ABC Expanded Flat Correction . In regards to the larger degree, according to my perspective we are in the 4th wave of a 5 Wave move DOWN on a Weekly TF and I'm...

Aqua_Trader Updated 

As we can see the pair has just possibly finished a Flat ABC correction (Wave 2), of what seems to be a new Cycle of motive waves to the upside. Therefore I'll be considering a Long position all the way up to the 141.4% - 161.8% extension of Wave 1. Trade safe and implement your own due diligence before executing a trade. For further details join us...