The last chart with short term bullish expectation did not really find follow through, though long trade would have been profitable still. However, now the Flat pattern described in earlier charts and Youtube videos (i)www.youtube.com and (ii) www.youtube.com is likely to play out to the downside in that we have 3 swing down and 3 swing up to form the Flat...
Whilst the last 2 charts on BTCUSD published are highlighting intermediate term bearish with potential move down to retest the low at 450 and longer term will revert to new bullish move over longer term, I am seeing small scale "Flat Wave" in the short term under progression and feel that I should publish that chart. So in this you will see 3-3-5 wave from...
I have been highlighting this for some time that Bitcoin is in EW terms in a Flat Correction which is referred to as 3-3-5. In my chart I suggested that with a possible up side to 1250 for double top but was also accepting 1100 zone as possible top which is 88.6% retracement of the move from 450 low - check the chart I subsequently explained in the live...
Just over a week ago I posted a weekly chart at this link It was to suggest that we are in a correction phase namely wave (iv). That was not to say short immediately. However, possible 850-950 zone to see if expected short materialise. There were 2 short attempts I called out live both resulted in scratch trade. Is that demonstrating that I am wrong? Well I...
Over all I am still bullish longer term for this instrument as per my earlier chart at However, we are making normal retracement which might appear in monetary term rather deep and unwelcome by some. But in normal cycle upon completion of wave 3 it is normal for price to retrace to wave 4 of one cycle degree lower. So in this case it would be still possible for...
Many folks have been trying to short this pair with out real success as it has continued higher without much of follow trough to the downside. However it now looks like we are in final stage of this cycle move ans could form top soon in the area of 104-105 area. This could offer real shorting opportunity as potential trend reversal with at least 50% retracement...
Last chart published almost 2 months ago had 1.38 as possible upside before retracement was right on Target. Check it out here Also, on completion of the 5 wave move up to 1.38 zone I suggested 2 possible scenarios, both still bullish but with slightly different paths. Now we have bit more clarity so the Running Flat looks like being ruled out and will...
Disclaimer - I am not trading this instrument yet. So at present my interest in this instrument is purely from charting perspective. Having said that I originally published my first chart in September you can view it is at I expected the retracement which never materialised in the manner expected. Yet the 600+ for possible completion of 5 waves have more than...
Bitcoin - I hear about this earlier this year and just ignored it. I still do not fully understand the instrument not do I plan to trade it immediately, though will keep it under review. However, from charting perspective, it is very interesting and comparable to many stock or instruments that started their early history and experienced price progression. To say...
After having moved of the in 5 waves up from 2012 low, we now seems to have abc correction which could well be complete. In this chart I note that the Volume also seems to be supporting potential bottom is in and we are in very early stage of new uptrend which AB=CD measured move could project the price to around 0.94 area, www.screencast.com . It want get there...
When I posted my last chart some 2 months ago for longer term I was suggesting possible long entry, which prove little too early. However, the long entry was generated at even lower price and since the price action has continued with Bullish Action. Here is the last chart. Now we have had the FOMC event which everyone was looking to have the details of QE...
AUDUSD has experience a strong bounce but think we could be on out way to retest the low or make another lower low before trend change to the upside. If we break above 0.94 then we could have the bottom in place and my labels are wrong. Looking at Gold chart which most of the time have positive correlation is moving to retest the last low. AUDUSD could...
When I originally posted this chart in late January ( ) I wave clearly bearish and explained my reasons. I was expecting decline to retest low around 1500 or if the move was AB=CD then it had 1400 as potential downside target. Though that was not necessarily the maximum downside target, I did not expect it to drop to sub 1200. I subsequently updated that chart...
There are many including major Banks calling GBPUSD to drop sub 1.46 which I think either is intended to trap many bears or are completely wrong about there assessment. The low around 1.48 I believe is significant and it appears to be in very uptrend (this is in harmony with my expectation on DXY with implication on all USD pairs see chart ). If that is correct...
For the record from my previous EURUSD charts, you will note that I am in the longer term bullish and do not think that EUR will be consigned to the pit till has traveled to post higher highs before turning down. Check out my previous charts for the back ground to by bullish bias. However, during the coming week my updated DXY chart suggest that EUR could be...
There is so much talk amongst market commentators, professional fund managers, major banks and trading community about potential QE tapering which is USD positive. If that reasoning holds then my question is why did the USD sell off strongly on the very day or at the moment QE tapering was mentioned. If all participants have read too much in to QE Tapering and...
It would seem that this pair has completed the upside retracement in abc zigzag with 2/3rd of the last major decline and other fib confluence and accompanied RSI divergence. Small position could really work out even though there is wide spread, long term move would justify and have interest rate differential work to your advantage. Target is to at least retest the...
I remain bullish longer term on EURUSD. However, I think it has pulled back sharply so far from recent high and could be presenting a relatively low risk long entry. A break above 1.3150 would be a confirmation. Likewise a failure below the rising lower parallel of the pitchfork could call in to question of the overall trend, which might continue to range for a...