I labelled the top as a wave iii based on its price run, so I am assuming that wave iv is in form. Wave (a) and (b) finished forming and now expecting a wave (c) of v. Wave C always move as a motive wave so we can expect a five wave rally, unless price unfolds as a complex correction. Alternatively price can continue growing higher indicating that v has finished...
The Dollar Yen looks short term down and now price just finished a bullish correction and now expect price to drop and go clear the lows.
Following the price movement of dollar zar price seem to be unfolding as an ending diagonal. Price trendline converging and price forming as a-b-c's that is why I am considering an ending diagonal. Because again this is a wave 4 formation so it makes sense. But we respect the nature of the market that it does what it wants, so we remain patient as price...
On the last trading day we saw a strong bullish move after I have anticipated a fall. Price rose above my invalidation level forcing me to adjust. And the alternate count favors a bullish move in price. And I will be hoping to carefully join the bulls if price unfold to my anticipation.
After the bullish advance on the euro dollar, to me it seems like price is going to advance higher. On this analysis I have checked a possible way to join the bulls. As far as it looks, the short term trend is bearish and the recent turn in price might mean the bulls are taking over. Using the Elliot Wave Theory to make my assumptions, it shows that primary wave...
Today I discovered this structure which looked like price is on a corrective move to me. First I see a convincing clear three wave move to the downside which I labeled intermediate wave (A) followed by intermediate wave (B) and the final wave yet to unfold. In such situations having the Elliot Wave knowledge, we know that wave C is always a motive wave therefore...
From the previous analysis that target was met beautifully and now price is expected to take a break. And at the moment we can expect a short term down-trend of price movement. Alternatively price might grow to seek a new resistance level.
Having a look at the inside of the correction move of the analysis I shared earlier. It seems like a five wave move of wave C is unfolding as one could expect, which allows us to position ourselves better at a low risk entry. Alternatively price might break the invalidation point to drop further or a complex correction might be forming and that will allow us to...
Price is approaching an area of potential resistance, thus I am expecting price to retrace a bit at the area of 2.618 fib extension zone. Again price might push to try and find resistance around the 300% or 3.618% it is possible.
The short term trend of gold looks to be down. After price dropped significantly from the past few weeks gold might be looking to correct that move before rallying down to the direction of the short term trend. As far as price is unfolding I am assuming that wave C is in advance and targeting the 50% and 61.8% for resistance.
A view at the lower time-frame it is clear using other charting skills it all points to one thing. On the 30 minutes time-frame is shows that price just formed a Head and Shoulders reversal pattern, where the neck-line got broken and now heading for a retest. This information makes the analysis more reliable and considering the fact that price will let us know...
The dollar cad broke the upper trend-line channeling the what I labelled to be the final leg of the correction which always end as an impulse if not an ending diagonal. Now I observe price beyond the structure hoping to jump in on a good signal.
Price broke past the 38.2% fibonacci support level and now targeting the 50% support level.
I am still convinced that a bit soon price might turn bullish as price has reached a nice price support which I see it perhaps picking up. I wave projected primary wave (X) at the 61.8% fibonacci retracement level. With wave (X) assuming have unfolded with a three wave move as per guideline, intermediate wave (B) unfolded as a triangle which signaled the final...
The current price movement of dollar cad seem to be a complex correction which I assume might find support at the 61.8% fib retracement level and then continue to grow.
From the first week of January of this year the dollar yen has been rising significantly, and my take on this movement I am assuming that it has taken a form of an impulse wave. Intermediate (1) and (2) has fully formed assuming that Minor wave 4 of Intermediate (3) is still in form. I have been expecting a retracement to the typical 38.2% level of fib support...
From the last time analysis price has behaved to our expectation and I am having a look at it's current price formation. Price seem to be unfolding in what we call a bearish flag, which is a trend continuation pattern. So as the mid-term trend of gold is down, price might be giving us a hint that it is continuing down to its mid-term trend.
Price seem to have travel to a level of my fib extension resistance line which my force price to push back. as far as it looks price is in a A-B-C corrective move with the final wave C to complete if not completed. I will be patiently waiting for price reaction to execute. Alternatively price might break past the nearest high and continue going up.