JigneshDavda

JigneshDavda

USDJPY is trading between fibs. the 76.4% Fib coincides with key Monthly Resistance, however the pair has not shown a clear break to signal a downside move as of yet. Looking for a break of 61.8% to the downside, or channel break to the upside for further direction

JigneshDavda

Further to my previous Weekly idea, last nights price action is invalidating the bearish engulfing Weekly candle. From a monthly perspective, the pair has already made a correction to the 50% fib and holding it's monthly trendline. The monthly candle thus far (although not closed) is looking strong. Will revisit this chart next month to see if there are any...

JigneshDavda

USDCAD Has posted a 1H doji at a key fib retracement after completing an ABC corrective structure. **This trade is countertrend against a strong uptrend. High risk, but good R:R

JigneshDavda

GBPUSD Completes a Descending Wedge at key 4H Fib level.

JigneshDavda

Yesterdays Wave count was showing one more leg up in NZDUSD with targets at 0.6668 near the channel top. The view has changed slightly. As the upside channel was broken, it has introduced the view that the cycle from (B) is unfolding as a double corrective structure in the (C) wave. So far, today's highs marks W, we should now do a pull back in Wave X, likely...

JigneshDavda

EURUSD on the 15M chart looks to be doing a double corrective structure to the upside. So far we have already completed wave W and Wave X. In Wave Y we have done the first leg up, and pulling back to completed Wave B. Expecting Wave X @1.0921 to hold for this view to remain valid. Looking to buy for a move to 1.1050 (refer to 4H view).

JigneshDavda

EURUSD has made a bullish push above the 38.2% Retracement. Smaller TF's call for a continued move here towards the 4H channel top and fib confluence area

JigneshDavda

EURAUD is testing it's 61.8% Fib. Expecting a bit of a pull back here, and one more high towards the 76.4% fib and weekly channel top retest

JigneshDavda

Daily Channel in DXY

JigneshDavda

The GBP has dropped signifcantly on bad retail sales, however the longer term outlook is still bullish for the pair. 15m support comes in for the pair at 1.5580/1.5582 and the pair can see a bounce from there back towards resistance at 1.5635

JigneshDavda

The 1H Wave count shows the pair has done an ABC structure to for wave (W), pulled back in (X) and in wave (Y) it is doing a double corrective structure. Looking for one more push higher towards 1H resistance to complete the entire structure and then a bigger pullback to the downside

JigneshDavda

This idea relates to the CADJPY Channel Idea & USDCAD being at monthly resistance, offers a small scalp which is counter trend. the 76.4% Fib of the last leg up comes in at 95.038. That area offers channel support, whole number of 95 & bullish engulfing on the hourly. As it's counter trend, nearby 15m resistance comes in at 9530

JigneshDavda

The 1H wave count shows the pair in an Double Corrective structure to the upside. So far the first ABC completed to form wave W @6600 with a pullback to Wave X @6544. Upside resistance comes in at 6668 which is 4H Resistance, and marks the first potential completion area for Wave Y

JigneshDavda

Looking for flag patterns within the channel as long as it holds

JigneshDavda

Strong downside momo here, but good R:R and holding lows

JigneshDavda

15M Wave Count shows a double correction 82.50 highs can be completed at 81.47 the 50% Fib from lows at 80.44 Risk event ahead with key rate decision from RBNZ later today Target area of completion is spike high at (B), which is also a whole number of 82 and Daily resistance.

JigneshDavda

USDCAD is on a bullish break, but finding resistance at psychological level 1.30 Looking for reversal candle on 1h near the 76.4 fib @ 1.2998 Counter trend trade - but great R:R on this trade for a move to daily support

JigneshDavda

Can correct lower - refer to 5m wave count