today I am presenting you another GBP pair I am shorting: FX:GBPJPY.
As I believe the price is currently forming a correction (a-b-c structure). At this very minute it seems the final wave (c) within the correction is about to get started, which gives me a minimum target of the 50% Fibonacci Retracement. This trade has the potential to easily...
I have opened a FX:EURCAD short position as I believe, based on the Elliot Wave theory that the price is currently in the process of forming a wave (iii) within an overlying cycle.
The overlying cycle is currently within a wave three as well, which is usually an indication for rapid pro-trend movements.
Based on that I am expecting new lows...
I believe, based on my Elliot Wave analysis that the FX:GBPUSD is currently forming an underlying wave 3 within an overlying wave 3.
As a quick reminder how it works:
Impulse waves based on the Elliot wave theory are made out of five waves, of which 1, 3 and 5 are impulsive pro trend waves, whereas 2 and 4 are counter trend movements.
I am still long in the FX:EURGBP like published a couple of weeks ago (see attached related trading idea).
I believe the price will be starting a final correctional wave c sooner than later. Minimal target being tops of wave a - optimal somewhere in the region between the 50% and 61% Fibonacci Retracement.
If you agree with my approach and...
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...