Okay here I feel quite positive about this analysis, for a number of reasons; We have the RSI Divergence here on waves 3 and 5, which is one of my favourite indicators especially for the buyers. Now we also have on the RSI, the blue line at 50.00 , that is also one of my demand zone / level signals. Whilst on the chart, the RSI says we just got out of a good...
Herewith the USDCAD I foresee a possible sell week this coming week, however I cant be specific with times yet, not that professional yet with this. Now youll notice "PHL"(possible higher low) which is also a strong magnetic point for the buyers to come in.
Currently compressing within the bigger support line, however this may be broken sooner as my analysis says it time to camp for a sell signal at support breakout so we wait for the flag compression to be complete and we drop as far as the previous leg.
Having thoughts on buying EURUSD long term, this is a weekly analysis which shows a almost mature QML at the demand zones, we can buy now and hold for the long term or look for small timeframe entries based on this overall market view on weekly.
I think we are going up here, currently on smaller TF its showing sell signal, however on my long-term view, I think we should be looking for buying opportunities on the USDZAR currency pair. What are your thoughts?
Perfectly following my initial analysis for the bulls, currently unfolding the handle for the cup&handle pattern, which can also be treated as a trend continuation flag, thus we wait for the breakout off the resistance of the flag then we target the stick of the flag's length. Amen
Lets sell with the QML, with SL at the head and targeting the demand zone, we can also note that the marked target zone is around where the breakout is expected, therefore this might be a good entry also for long term trade, sell and hold but with the tight SL
Im looking at a market that is overall bullish here, it has given us a close exactly on the resistance, thus I am looking at the drop towards support or even to break the support. Reason being completion of the waves within the bullish channel and indication of the end of Wave (iii) now we should be looking at the Wave (iv) drop.
Well hear me out here fam, Im really hopeful that USDMXN plays along here because what Ive noticed is how this pair is always present on the Elliot Wave check. So I approach it the Elliot Wave + Fibonacci wave and Im looking to hold as many entries as possible.