A good continuous setup forming looking at Elliott Waves. Highlighted areas indication potential reversal zones.
Currently a Wave 3 of 3 completion, Completed bullish Bat and RSI oversold. A Nice opportunity to Buy to ride Wave 4.
Here is a nice cluster to short GBPJPY. A Zigzag completion has taken place and so the correction is expected to retrace from an EW view. Targets and enteries for both the Bat and ZigZag trades.
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It looks like a leading diagonal, the start of a motive wave. I respect other counts and views however this is my view but do feel free to comment and share your views. This is my long term view on the pair which I thought to share.
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Thank you for looking!
The market has rallied and so if it continues there may be some shorting trades:
1) ALT Bat
2) if there is a double top - there may be an opportunity to enter a 2618 trade
Thank you for looking!!
A Zig Zag was completed at the Gartley completion where the market has rallied.
There may be some bullish steam left in the market as the flag pattern has had a bullish breakout with RSI convergence. I would say this is a high risk trade.
If the market reaches the Bearish Shark PRZ without invalidating the pattern it will be a nice shorting opportunity....
I have been studying Elliott Waves and here are my basic notes on Impulse Waves - how to identify and trade them.
There are two types of waves Motive and Corrective. These notes are on Motive - impulse waves.
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Here is a nice setup. It looks like we are currenctly in a corrective phase possibly a zig zag denoted by ABC where C is unconfirmed.
The possible high probability trades are:
1) Short the head and shoulders pattern. Or a more aggressive approach is to just short immediately since it has had a bearish break below previous structure low. Also there is RSI...
Opportunities to go long and Short.
1) 45min chart there are Bat and Gartley patterns. - Long
2) 4hr chart looking for a bearish breakout after an Elliott wave triangle completion -Short
3) Daily Chart there is a Gartley pattern - Long
Thank you for looking!
A nice setup has formed. There is a Triangle pattern forming.
There is a Bat and Gartley pattern within the triangle with a completion near the bottom trend line. These are nice areas to go long. Looking at multiple long enteries here to maximise exposure to these patterns.
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Here are a number of good entry points to go long:
1) A Bullish shark that just completed. We have multiple targets here.
2) A Bullish breakout of the Broadening Ascending Wedge with 2 targets.
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