over the last two weeks I have updated you about my CADCHF short trade within the correctional a-b-c wave. This time I want to present you a trade in the opposite direction.
Note: I do not want to go long immediately but am looking for clear signals of the a-b-c correction to be complete.
However, I chose to publish this teaser upfront as I...
just a quick trading idea - more later as I am between doors at the moment. I am going long EURUSD as I believe the correctional a-b-c within the ii is complete. Furthermore the price just hit a perfect Fibonacci Retracement level which makes it even more attractive to me.
As I said, I will be publishing a more detailed update on this trade later...
I will kick this week off with a long idea on USDCAD. As I believe the price is currently forming a wave IV and eventually break out, starting a final wave V within the cycle.
As per the moment I am opening a long trade. The price is sitting within a perfect Fibonacci retracement level, which makes it, given the Elliot Wave count as I believe...
I keep it very short and crisp before releasing us all into the weekend. With market opening of the Litecoin I will open a long position, initially targeting a price area between 68.00 and 70.00. I believe the price will eventually go higher than that but I like to keep my trading compact and use the swing within the moves.
A perfect stop could...
before we head off into our well deserved weekend, a quick analysis on the USDCAD;
I believe the price is currently consolidating into a wave IV before starting off into its final wave V. In clear terms, my guess is that the current drop in the USDCAD is nothing more than a deep breath before attacking new highs shortly.
Before I jump on the...
as I see it, the Dow Jones Index is currently in an underlying A-B-C correction before the final 1-2-3-4-5 impulsive wave starts to complete the overlying V of the cycle.
What does that mean?
It means that I am currently waiting for the A-B-C to finish before I go long, speculating on new highs. There are still a good few thousand points to grab...
for those who appreciate a bit of a wilder ride read on. Those who don't, feel free to move on.
On a fundamental basis it is pretty much IMPOSSIBLE to predict what is going to happen with the UK and Brexit. Either way I believe the EUR will gain against the GBP - at least in the short term.
Having a look at the technical side I guess a picture...
my SHORT idea is based on the Elliot Wave count, Fibonacci Retracement and classic chart analysis. Major facts that support my idea are:
- The price formerly formed and broke out of a beautiful ending triagonal, indicating the end of the impulsive 1-2-3-4-5 up move and the start of the a-b-c correction.
- The price dropped initially forming the...
A very happy Saturday boys and Girls!
I am currently going through my charts and came across this one here - EURJPY. To be perfectly honest, I am not 100% certain if my idea makes sense and therefore would appreciate input from the community. What do you think? Does it make sense the way I look at it.
The idea behind it is quite obvious. We have seen the lower...
Hello, hello boys and girls!
Today I am daring a negative analysis on the EURUSD pair. I had a look around in the community and it very much looks like split camps, so I'd like to join the Bears this time round.
The chart should be self-explanatory I hope. As a target I see AT LEAST the last low (A) but it may well be that we drop even lower than...
Hello Boys and Girls!
As mentioned earlier in my previous EURNZD analysis - I think I've got it wrong. Initially I thought we were still in a running C to form a B but after looking at it for a while I figured the B may well be finished already. There are a handful of reasons making me assume that:
+ We have reached the 50% retracement already. That is not a...
Hello, hello boys and girls!
The second pair of the day I see to be correcting within a wave B is USDCAD. It very much looks like we are bouncing back towards the Moving Average, which could create some false security in the bull camp in return.
I am still a novice using the EW Theory but I am gaining confidence - so much in fact that I am trading real money...
Good morning boys and girls!
I want to kick-start the week with a contradictory idea to the majority of the TV community. I believe that the pair faces another up-move, with a new high, before coming down once again.
What gives me reason to believe this is a potential wave C I have outlined on my chart. It would make perfect sense because:
+ Wave A consisted...
Good morning boys and girls!
As I mentioned yesterday in my AUDCAD analysis I am getting more and more comfortable using the EW theory. Still, I am very novice and always appreciate constructive critique.
The way I see it, the wave C has started. As we know, a wave C consists of 5 sub-waves. If I get it right, wave 3 of 5 has just started, aiming for lower than...
Hey boys and gals!
I am still practicing my Elliot Wave count, so please bear with me or point me into the right direction if I get it wrong.
However, as far as I understand it the correction pattern A-B-C is complete and we transitioned into a new cycle of 1-2-3-4-5. I got to be honest and say that I traded the C of the last correction and banked the FIRST...
A very simple approach to this trade: I was waiting for the bullish gap to close and look for a cheaper entry point. The price is currently within range of the major price retracement levels.
I am awaiting price action confirmation but expecting a re-test of the last high. The 200-EMA may well serve as a pivotal slingshot. As long as the last low (higher low) is...
My last CHFJPY trade didn't work out. In hindsight I misinterpreted the chart completely. It shows once again how vital it is to have a working money management in place. I personally don't worry too much about a bad trade.
I give my initial idea (see related ideas) another try. I am posting the daily chart for the sake of simplicity, the trade is based on the 4H...
Based on my simple approach to price action, which doesn't include much drawing at all, I opened a LONG position on USDCAD. Target the last high.
As long as the previous HL (high low) stands the up-trend is intact. Despite a possible double top being formed I am sticking to my strategy. The chance risk ration is well balanced, so no reason not to give it a punt.