This is currently difficult to call except that it will probably go long at one of the three points indicated. If it's an higher degree ACB correction it should come down to the point indicated. On the other hand in may bounce within it's current lower degree corrective structure without going to C. The third likely option is that it breaks out without bouncing...
I've been long on this since the bottom and added to my position as it progressed It will make a larger degree correction sometime soon so I don't currently see any good opportunities to enter. It may reach T1 before correcting - anyone who is long on this protect your position by moving your stops as required. The correction shown on the chart is only...
I don't trade the index but I do use it as an indicator of what may happen in the Dollar pairs. These pairs USDJPY, USDCHF USDCAD will tend to move in the same direction as the index. While these pairs AUDUSD, EURUSD, GBPUSD, NZDUSD will tend to move in the opposite direction as the index This is especially useful if a particular pair looks indeterminate. ...
As anyone who follows me will know I've been calling a long on this for several months. In fact I've had several disappointing trades on it recently resulting in break evens after promising starts. Of course the moment you get bored waiting and take your eye off the ball - it goes. (There's a lesson for daily scanning and setting alarms). I missed this lovely...
This looks to be an ABC on the high degree timescale. A and B seem to be complete and with the recent breakout we could be at the beginning of wave C. If so then there is the possibility for a series of long trades over the coming months. To get involved look for a pullback which meets your appetite for risk and set your stop to zero as soon as it's safe to do...
We may have finally found the bottom of this correction. It looks like a huge flat ABC 3-3-5 I'm looking for a long buy set up with the possibility of price breaking out of the top of the correction. If the "C" trend line is broken wait for a correction for a long entry Comments welcome Follow for updates Steve This is not investment advice but rather for...
Looking at this pair in the 240 chart it seems to be making a 3 wave structure back to the channel top. Of course we don't know how it is going to get there but keeping this structure in mind will bias our decisions on the lower timescale. Naturally this structure may not turn to be what it currently looks like but I will adjust my outlook as it progresses. On...
I expected this pair to complete a wave down last week but it is approaching the channel line. It will either complete the wave down or it may break out long. I'm expecting it to stay in the channel but either way do not get involved until you see a set up to buy or sell (green squiggles) Please follow for updates This is only my opinion and not investment...
This seems to be wave B of a high degree correction If so then it should still have some more down movement to come. We currently have a short set up in the making but wait for the breakout and lower degree correction before getting involved. Remember forecasting is a probability game so always keep your powder dry until you are 90% sure of what you are looking...
I know it's a very long forecast but I see this as wave E of a wedge (3 wave correction). It appears to be breaking out of wave A and starting wave B (see snapshot in comments) Lets see what happens on the 1H level but there may be a long corrective B wave before completing the move to the bottom of the channel Does not look good for trading at the...
I bought the B wave up and I'm out until I see where it is headed. It looks like it will go down for a C wave (position approximate) Of course it could charge long again so be careful of shorting this. Wait to see what it is going to do i.e. breakout long or complete C I'll not get involved until then Remember your money is never at risk until you get involved....
Looks like this pair has broken out of the weekly down trend. If so then expect large moves upward, At the moment it is correcting after the breakout - looks like a 5 wave correction. The big move is long but there seems to be a nice short set up for Monday This is for learning and discussion only and not investment advice Comments and likes are welcome Good...
I've been watching this for quite a while and it has formed a similar structure as the CADJPY chart I posted a few days ago (link below) On a weekly chart this is long and now looks like the correction is just about over. Normally I would wait for a breakout of the corrective structure before opening any positions but this is a daily structure and it should be...
This pair are in a high degree correction and may have one more wave down. I expected it to complete the down move but it looks long at the moment. It may go back up for a retest of the channel top = if so wait to see what it does next. I still expect it to complete another wave down but lets wait and see, There seems to be a long set up now which could turn out...
Looks like this is an ABC correction which of course could morph into an ABCDE Once this C wave is complete we'll have a look at what is going to happen next. It could rebound for a wave D or if it breaks out we'll look for a long trade I'll keep you updated on developments Steve
Looks like a possible short set up. If it goes take care when it reaches the "channel line" Good luck Steve
Looks like an ABC correction Price has broken out of B wave and has made a sell set up on 15 min chart
This is not a trade call it is simply an idea. This looks like a diagonal - which should comprise of 5 waves each containing 3 waves. If my analysis is correct then price should go long (as indicated) If it is a diagonal there should be a nice short once it breaks out - that is the trade I'll look for. If it breaks out short without completing the structure -...