EURUSD is reaching the short zone which is around 1.1475 to 1.1500 where 61.8% Retracement falls of Wave 1 and Wave A is Equal to Wave C completing the correction within the Channel Lines which is also at the same levels. I would go short at those levels for a Wave 3 down move which will be impulsive and fast. Targets for me are below the previous low and at...
CrudeOil has been in a correction which is set to complete or near completion. One can take short positions in CrudeOil now for short term targets around 42 levels and long term around 38/35/31 levels where it might give a reversal. Happy Trading!!
EURGBP's current rally could very well be a Wave Y of a running flat pattern making a 3-3-5 move as shown on the chart. Which means EURGBP could go one more leg down and make a new low. One can go short on the pair with minimum risk and good rewards if it works out well. Happy Trading!!
LT has made a FLAT correction 3-3-5 which is potentially completed now and its time to go long. One can go long now with SL just below the recent lows around 1435 and targets are for new highs around 1950, 2000 levels. Happy Tranding!!
The recent upmove in USDINR looks like a corrective rally unfolding in 3 waves which suggests that there will be one more down move for the pair before we see any new highs. One can go short on this pair with stops around 70 and Targets at around 57/56 area as long term trade.. For short term trades, it will be sell on rallies. The price action suggests that the...
Adobe System has given a recent correction after a long rally. That correction would be a Wave A correction and since then it has retraced back to 61.8% fib which is also the trendline resistance making a Wave B. One can Go short now with stoploss just above the recent high and Targets atleast towards the same lows where the channel line support comes making it a...
USDCAD is consolidating at the top what looks like a 4th wave triangle. Possibility of make one final up move and then give a correction or will it start the correction by breaking the trendline/channel line straightaway. Either way the move is coming soon. One can position themselves either way with the breakout or breakdown from the triangle trendlines Although...
GBPCAD has reached the top of the wave channel and started the decline after the 5 wave up move. The first down move is in 5 waves and has broken the previous 4th wave confirming the divergence and making it a qualified divergence. The retracement has since then reached around 50 to 61.8% levels. One can go short on this pair now and look for targets of with Equal...
JustDial(NSE) Potentially completed its Correction with an W-X-Y pattern within the parallel channel. One can buy now with Stoploss just below the lows and target at 1200 and 1600.
AUDUSD has been on a long term correction and potentially ending the correction completing A-B-C on higher time frame. As per short term trading time frame the pair has broken out of ending wedge and could potentially go higher from here. There are two trades ideas that can be taken at this moment. Happy Trading!!
GBPUSD is forming ending diagonal which is near completion. One can buy the pair now or when it breaks out for the target of 1.5425 and stop just below the lows. Ofcourse there is divergence as well while the ending diagonal is being formed on all trading time frames. Happy Trading!!
USDollar Index long term analysis and bigger picture based on Elliott Wave Analysis.. As per my analysis it should go lower for a wave c to complete the intermediate wave (4) and then go higher from there. What this means as per trading.. Go short on USD pairs and Long on Others. I could be completely wrong with this but that is the best wave count as per my...
EURUSD has been in correction after big decline. The first correction was a Flat one 3-3-5 where I thought the market would reversed and make a new low.. however, the decline was just in 3 waves a zigzag and from there a rally in 5 waves can be seen.. Which creates a scenario of a W-X-Y correction.. Flat(W)-Zigzag(X)-Most likely zigzag(Y) having a 5 wave count as...
USDJPY elliott wave count shows that it is soon going to complete wave 5 of 5 of 5 and will end a cycle wave at around 125.27 as the first zone where I would close all long positions and wait for a reversal down move which could be a long term down move to atleast 104.00 zones. RSI and MADC divergence are visible on daily charts indicating the low momentum as the...
EURUSD has almost completed Wave 4 of wave (5) and the ideal scenario should be forming an ending diagonal before reversing if my wave counts are correct.. I will still wait for confirmations of next wave towards down side to see if its a 5 wave structure and then take the trade on retracement. Just my analysis. Let me know if you have any other. Happy Trading!!
EURUSD has potentially formed a bearish head & shoulders pattern. With the previous view to short the pair.. Current H&S pattern would give one more confirmation to the view. One can go short at these levels with SL above 1.1410 and targets around 1.0850. Good Risk reward potentials. Happy Trading
GBPCHF is forming a bullish flag pattern. Go long with defined risk reward on the charges. Happy Trading!!
LT has be going trough the correction after making a top around 1890. The ABC correction has been completed and I would expect the stock to move higher and make new highs now. However, as a conservative target of 1750 and stop loss just below the last low would give a risk reward ratio for 1:2.5. Happy Trading!!