Hi Traders, I'm looking for price to continue retracing and pushing higher towards 1.3600. The Elliot Wave sequence suggests that we're currently seeing a ABC running flat unfold and at the moment, price is in wave C (we can expect this to materialize in 5 sub-waves). Do not miss the subsequent impulse legs as this will be a wonderful long trade. Regards Wave Theorist
Hi Traders, EU has formed a clear 5 wave structure in wave A, with wave 5 forming an ending diagonal. In the grand scheme of things, I'm looking for an ABC pattern to complete wave Z (as I believe that price is about to complete a triple three correction). In the long run, I'm expecting that price will push towards 1.0300. Regards Wave Theorist
Hi Traders, Gold is still bullish in the long run. I'm looking for price to test its all time high at 1920 and thereby make the case for a ABC regular flat. My view is that we will see the final five waves before price reaches the all time high. Look for long setups and keep buying the pullbacks. Regards Wave Theorist
Hi Traders, Until the drop we had on February 20th, price was making a strong case for continuation towards 4000. This may still happen, as this current drop has completed a WXY expanding flat (i.e. wave 4 on the higher degree). I'm therefore looking for price to confirm long setups as it is expected that the bull rally may resume. Trade with...
Hi traders, The dollar is poised for more downside. I'm looking for a textbook 1-2-3-4-5 structure that will complete wave C. Price is set to correct into wave 2, after which I'm expecting further downside into wave 3. With this being said, however, it is advisable to wait for proper confirmation as this analysis is premature - more market data is...
Hi Traders, I'm looking for an expanding flat in wave X. It is at this point where I'm expecting institutional sellers to take short positions. With this being said, we currently do not have a confirmation take any short positions. Wait for confirmation before taking short positions. Regards Wave Theorist
Hi Traders, I'm looking at this structure as a WXY running flat. We've seen some bull momentum in price in recent sessions, and I'm looking for further upside over the coming months. Keep buying the pullbacks until price reaches target. Regards Wave Theorist
Hi Traders, When looked at on the weekly chart, GBPAUD is currently in a critical sell zone. I'm anticipating a final bull leg before price may show signs of reversal. Wait for clear confirmation before taking any long trades. Regards Wave Theorist
Hi Traders, Price was in the middle of an ending diagonal a couple of sessions ago, until this situation was made invalid by the breakout above 3150.00. I am therefore looking for a five wave sequence in the higher degree wave 5, and at the moment it seems that price may rally towards 4000. The plan is simple: keep buying every pullback and hold until price...
Hi Traders, It seems as if price may retest the most recent high at $1611. I'm looking at this current structure as a ABC regular flat, with the expectation that wave C will come in 5 waves. Wait for clear confirmation before taking any sell positions. Regards, Wave Theorist
Hi Traders, Silver has yielded a textbook double-three expanding flat. The key fibonacci levels for wave X (1.05 - 1.38) have been respected and I'm therefore expecting price to reverse from within the golden zone (0.50 - 0.618). The golden zone in this case will be the zone where wave B retraces wave A. As such such, what we're looking to trade is wave C and the...
Hi Traders, Gold is currently retesting key resistance between $1482 and $1487. I'm looking at this corrective structure as a triple three - X1 is showing an expanding flat whilst X2 is a regular flat. I'm expecting price to make one more push to the upside (to complete wave Z) and reverse between $1491 and $1499. Regards, Wave Theorist
Hi Traders, GBPUSD will enter some corrective action in the forthcoming sessions following the impulse 1-2-3-4-5 sequence we've just witnessed. It is still to early to tell what type of correction will manifest. At a minimum, we can expect a 3-wave pullback (either simple or complex) and further continuation of the down trend. With this being said, we do not have...
Hi Traders, EURUSD may be setting up for a potential expanding flat, in which case the target should be set structurally at 1.0944. Please note that during the holiday season, the markets are observing very thin liquidity so most brokers will widen their spreads. It is therefore important to trade cautiously and apply risk management. Regards, Wave Theorist
Hi Traders, The last buy attempt at 1.3151 failed as price kept pushing lower. We now have a valid gartley setup. The safest option would be to take the trade only after we see an impulsive breakout from this ending diagonal structure. Apply risk management and trade with care. Regards, Wave Theorist
Hi Traders, We have a textbook ending diagonal pattern currently in progress. This is a reversal pattern and is confirmed by the loss of bullish momentum as illustrated by the RSI and MACD. Wait for a bear impulse breakout from the structure before looking for any short trades. Regards, Wave Theorist
Hi Traders, I was initially expecting price to form an ending diagonal, thereby slowing down the bull trend for downside. However the ending diagonal is now invalid because price has slightly broken out of the structure in the past week. What's more is that we have no divergence on the RSI, and this indicates further upside. Therefore, we can keep buying the...
Hi Traders, The sell we've been waiting for finally came following Friday's non-farm payroll report. I'm expecting XAUUSD to drop towards the $1400.00 region before we can start looking for buy setups. For the time being, let's keep selling every pullback whilst managing risk. Regards, Wave Theorist