Theto_Morifi

Theto_Morifi Updated 

It looks like USOIL is preparing to complete it's two month long correction phase. The pattern in question seems to be a zig-zag correction pattern tha consists of a 5 wave to form (a), 3 waves to form (b), and 5 final waves to complete (c). I will be looking to ride wave 5 that will complete wave (c) and then start looking for longer term short opportunities....

Theto_Morifi Updated 

GJ is still looking bearish, Last week gave us a lovely WXY correction which formed the structure to create wave 4. I am now looking to ride wave 5 down to complete the impulse structure of wave C. Target: 153.000

Theto_Morifi Updated 

GJ seems to be nearing the end of a complete 8 wave cycle- 5 impulse waves and 3 correction waves - Our current position in this wave cycle is in the correction phase. However, it seems to be coming to an end. I am expecting the completion of a final wave to price level 153.000. This is a confluential zone where we have: -Support Zone - 78.6% fib retracement...

Theto_Morifi Updated 

It seems like we might have a textbook style 5 wave impulse move to the downside provided by UJ. Wave 5's target is extracted from the fibonacci extension of waves 1-4. Target: 125:500

Theto_Morifi Updated 

The 4HR timeframe is providing a good perspective of gold for me currently. It appears that a bearish impulse wave cycle has run its course followed by its subsequent correction cycle. I am now looking for short opportunities as the momentum shifts from bullish to bearish. Confluence points: - Impulse wave complete ...

Theto_Morifi Updated 

Beautiful leading expanding diagonal having formed by UCAD over the past few weeks. I must say it has been a while since I've seen one of these in this magnitude. Getting right to it, I am expecting a wave (C) impulse to the downside to complete the major ABC correction. Wave A consists of a 3 wave structure, and so does wave B, this then provides the possibility...

Theto_Morifi

Amazing structure formed by GU. Clean 5 wave impulse followed by a complex corrective structure. Price has bounced off of the 61.8% fib retracement level of the impulse which also happens to be confluent with a support level. On the m15 timeframe, price has broken out of a descending trendline and has just retested it. This is quite the concoction of a long bias...

Theto_Morifi

What a lovely 5 wave impulse move provided by GJ. Wave iii was quite extensive, but regardless of that, wave 4 has respected the channeling principle and has validated the base channel that creates a support area projected from waves 1 and 2. I am looking to capitalize on the 5th wave impulse that is needed to end this subwave impulse move for the major degree...

Theto_Morifi Updated 

EU has been moving in a very strong uptrend since last year and has provided a beautiful and clear 5 wave motive structure. We are currently in the final stages (until proven otherwise) of the corrective strcture which usually comprises of 3 waves. I am looking to capitalize on these dying stages of the correction whilst waiting for a clear structural indication...

Theto_Morifi Updated 

The past two weeks have provided a lovely ABC correction pattern for UCHF. I had been monitoring it all the way through. Post correction, it is very likely to expect an impulse structure. We may find ourselves in the beginning stages of a powerful impulse wave. Now, because we are still in the first two waves of this structure, the possibility of the entire...

Theto_Morifi Updated 

A king-sized opportunity seems to have presented itself with gold. Looking absolutely textbook as it appears price is gearing up for a bullish impulse after having corrected with a lengthy structure. Personally I am not a long term trader but for this one I may make the exception of digging deep in my patience bag. 2120? New high possibility? Well I suppose time...

Theto_Morifi Updated 

Looks like a lovely opportunity has presented itself with GU. A complete 5 wave impulse move to the downside, set to be followed by a corrective structure. Waves A and B have been completed and we are now starting a wave C impulse to the upside. This long setup is only short term as there is a great possibility for GU to fall long term. This we will be unpacking...

Theto_Morifi Updated 

Absolutely amazing and quick correction move by GJ to the 50% fib and 61.8% fib bubble that has been analysed previously. I will be looking to enter the beginning of the third wave or C wave down. Let us see how it plays out. Please do let me know what your thoughts are on this pair for the upcoming week. TARGETS: -151.350 -149.600 -146.650

Theto_Morifi Updated 

Last week was a very slow week for EU, it has been in a shallow and ranging structure. Again, this for me says that potential energy is being gathered up and price is gearing up for a big move in either direction of course. For now, using the Elliott wave theory, we may be expecting another thrust to the upside. I will be putting the main emphasis of my targets...

Theto_Morifi Updated 

USDZAR has been following the correction dtructure very well since the week began. As usual the correction structure consists of an ABC wave count of which the C wave subwaves are always 5 waves. This represents a final bullish or bearish impulse in the opposite direction before the overall trend momentum takes over and continues its course. I am currently...

Theto_Morifi Updated 

Absolutely stunning run by USDZAR last week, giving off a strong third wave bullish impulse. The impulse move also happened to break the pair out of a daily descending channel, looks like this may be the beginning of a strong uptrend. At this point it is merely speculation based on the technical data provided by the wave theory confluent with a few support and...

Theto_Morifi Updated 

Whenever multiple styles of trading come together to give off a harmonious (excuse the pun) setup, I always gear up for a big move. UJ has provided a clean 5 wave impulse move to the upside and therefore breaking out of an ending diagonal (that can be seen on the daily or weekly timeframes). We find ourselves in a lengthy correction/consolidation. We may be in...

Theto_Morifi Updated 

Ending the week very well with a strong impulsive move down to complete a verypowerful C leg wave, we can now expect a correction wave structure. On the Weekly Timeframe analysis (which I will post below), GJ is long term short. Therefore we may be seeing the first two wave developments of a large degree bearish impulse move. Ideally we'd want to catch the third...