This downtrend includes variations of false breakouts, I believe we may see a retest up towards structure levels in order to setup potential shorts, in the meantime I think that the trend will create a bullish structure in order to maintain volume within the range of movements created. Thus, involving new lower highs to signal a bearish formation that could occur...
I believe the GBP/JPY pair has potential to create structure in order to maintain the downwards trend, also the pairs movement could continue downwards as the trend has more volume to move bearish. I am seeking a long opportunity in sync with structure levels on the left, as the trend could be challenged into breaking the descending wedge formation.
The current consolidation is recognised by the bearish behaviour of how the pair has been moving. I believe that EUR/USD will create a false breakout as this gives an advantage for the trend to potentially retrace, however I do think that the trend will still move in a corrective manner, I have applied the Elliot wave structure to map out what may happen in order...
Support level has been tested many times and has maintained the level of difficulty to break through, as you can see the market is creating more lower lows influencing the fact that a down trend could occur. I believe that the AUD/USD pair will retest up towards structure levels and drop down to make a new low. The starting point has a confluence of 0.618 where I...
You can see that the consolidation shows we are in a bullish behaviour however the descending wedge formation portrays that GBP/JPY has the potential to pattern out and perform a bearish move in order to keep supply and demand flowing. The bearish flag pattern has been identified as this correlates with the potential channel. I believe that the trend will create...
The breakout is expected to reach around the 1.125 area, as the trend shifts towards structure, the ascending horizontal trend line is a point for either a potential rejection or a breakthrough. I have predicted the trend to reject and bounce off the trend line where I have placed my entry, the trend may move corrective towards the 1.118 area where the lower...
The ABCDE consolidated correction pattern has been complete as I believe there would be a reversal occurring. Due to the trend breaking ascending support leg it has bounced off to make the D point which has been shorted towards point E. This maybe the time for lower highs to be made as EUR/GBP is settled in lower structure and is at the stage of a higher demand....
We are currently in a bearish channel as you can see the trend had given off corrective wave patterns to perform downwards movement out of the waves previous structure, whereas the trend is now retracing possibly towards recurring previous structure levels. I suspect the trend to create another lower low in order to test below structure levels and to maintain the...
Buying end of pullback keeping it very simple. The movement rejected off trend line, currently at the edge of ascending trend line, once the trend breaks through, the pullback will be taken into effect in which would be useful to execute my trade.
End of pullback all in. Happy trading guys
I suspect USDJPY has hit the double bottom of the previous low structure and has had a breakout to an extent, whereas we can see that this pair has been in the bear market for quite a while. The probability for the trend to create a new lower low is likely, however we can see that USDJPY is starting to consolidate with strong long positions. There has hardly been...
The corrective consolidation pattern involves the support leg to be broken as this has been retested many times, I believe that the trend will breakthrough giving a signal to short. I suspect that the trend may recover towards back up to 1.115 once it has hit point C, however this would only be another short set up for potential sellers. Opening point:...
We are currently in consolidation of the bull market as we need to detect whether a breakout will happen on either side. I think that this trend will possibly hit short back into structure as the trend may have hit a high volume already provoking the trend to possibly reverse into the bear market. A certain downtrend could be the breakout of 1.3254 in which I...
I believe GBP/JPY has nearly hit the trends peak as more volume could occur towards reaching the rejection area which is the highest level of structure. As the trend has broken through the current structure this could possibly be a good opportunity for longs. In the meantime I think the 140. area is a good short opportunity as the trend would be reaching the peak...
We are currently in a bull market, as you can see I have placed an above structure placed where the trend may lead. The Elliot wave suggests that there may be a pullback creating point 2 where a breakout may intend to happen creating a sweet spot for buyers. I suggest to buy at the end of the pullback as RR will be more effective. I have also placed a bullish...