About meI have been involved in the financial markets for over a decade and have been trading professionally for a number of years. I am the founder of Green Box Markets where we strive to provide quality information and services at very affordable rates.
All market moves consist of an impulse, a correction and then another impulse. Our job as traders is to identify the first impulse and then the correction so that we can trade the second impulse.
On the H4 above we can see a clear impulse move and then a 3 wave correction which has formed. It is not guaranteed that the bottom of wave 3 has formed but I have...
USDZAR is currently forming a larger correction that I initially anticipated. This means that the correction that I had looked at before as being a 3 wave correction, was actually only wave 1 of the larger correction. Looking at the current setup, I expect price to break the low of wave one, market with the red line, before there is a reversal to the upside. I...
I am looking at this bullish corrective structure on the daily time frame. Price is now at the top of wave 4 and needs to confirm either a breakout to the upside or a reversal for wave 5 first. I expect price to move around this level for a while before making a definitive move so will be trading both long and short positions on lower time frames.
Gold has been moving according to my analysis and I am expecting more upside to come. There is currently a correction forming which could see an interim move down to complete wave 3 but from that point I will be looking for another long entry to the 1485 mark.
Looking at NZDUSD H1 time frame, we can see that price is currently trading in a correction. This is a bullish correction formation at this point in time which indicates that we should see a break to the upside. I am looking to trade wave 4 to the top of the structure and will then wait for confirmation of a break to the upside or a reversal to complete wave 5...
We can see the initial impulse to the downside indicated with the first red arrow. Price has been in a correction which has completed 5 waves and I am expecting to see a break to the downside soon.
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Looking at the daily time frame on EURUSD, we can see that price hasn't reached the 23.6% retracement level as yet. I expect to see a small pullback to support where price will continue upwards and break the 23.6% retracement level. My initial target to the upside is the 38.2% retracement level.
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Gold reached my H4 targets and pushed through them somewhat. I am expecting an interim pullback but my Daily target is still 1485 for a Fib retracement level that I expect to reach. From that level, I am going to be looking for a reversal to trade wave 4 to the downside.
Iv'e been waiting for this setup to confirm for a while now and have just entered the long position. Looking at the structure indicated in blue, we can see the initial impulse wave on the left of the chart, indicated by the first blue arrow. Then we can see a corrective structure which is in wave 3 to the downside at the moment. I have entered the long based on...
As I expected, price reversed at the end of wave 5 on the daily time frame and is now trading at the bottom of the corrective structure. Structures seldom form more than 5 waves which leads me to believe that we will see the break to the downside soon. The possibility of a 6th wave to the top of the structure first does exist so I will wait for confirmation on a...
Looking at the bigger picture on USDJPY, I am expecting to see a rally over the coming months which should see price reach 118 comfortably and possibly as high as 120. From that point I will be waiting for a reversal to confirm where there will be a significant move to the downside being the second impulse after the correction is complete.
The corrective structure indicated in blue above shows that we can expect a reversal on NZDJPY at any point now. The possibility of wave 3 going lower does exist but ultimately there should be strong upside to come.
We can see an initial strong move to the upside on XAUUSD and then a corrective structure which came in the form of 3 waves and broke to the upside. Although the price pulled back into the structure, the original break is still valid and I expect to see more upside. I'm waiting for an entry trigger to trade the long.
This is what I like to call a textbook setup. We can see the initial impulse on the left and then a corrective structure which has completed 4 waves and I am now waiting for confirmation of the second impulse to the downside. It is possible that there will be a 5th wave to the top of the corrective structure first but ultimately everything is pointing to the short.