Veejahbee

Veejahbee

Please support this analysis with your likes and comments! EURUSD has been trading in a range for the past few weeks. Price has the potential to break out in either direction. Watch for breakout and retest of the support or resistance zone for high probable trade entry. What's your view on EU?

Veejahbee

Please support this analysis with your likes and comments! EURCAD seems to be making a double zigzag correction. An expanded flat pattern connects the first zigzag to the second zigzag in the making. Price has the potential to move lower in wave c to complete the second zigzag. Wait for the break of the counter trend line. What's your thought on EURCAD?

Veejahbee

Please support this analysis with your likes and comments! USDCHF is making a triangle corrective structure. Triangle is very deceptive in nature so we must be prepared to catch the breakout in either direction. In this analysis, we consider the triangle to be wave (b) of zigzag pattern in "B", and the breach of wave "d" low will confirm the bearish trade...

Veejahbee

Please support this analysis with your likes and comments! USDCHF is making a triangle corrective structure. Triangle is very deceptive in nature so we must be prepared to catch the breakout in either direction. In this analysis we consider the whole wave "B" to be a standalone triangle, and the breach of wave "d" high will confirm the bullish trade setup. ...

Veejahbee

Please support this analysis with your likes and comments! EURCHF breached its last lower high and descending trendline impulsively. Price is making a pullback in wave (ii) after the strong breakout. Watch out for a bullish price action signal from the technical level to position for a massive rally in wave (iii). What's your thought on EURCHF?

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USDJPY moved down in three waves (a)-(b)-(c) from March high. The decline in wave (c) unfolded as an ending diagonal pattern which usually indicates that the end of a trend. The Elliot wave guideline on trading ending diagonal suggests that the price should move at least to the start of the diagonal. In this case, the start of the diagonal is 109.379 marked...

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In the AUDNZD chart above, the price moved down in five waves from the high. According to Elliot Wave theory, a three-wave correction follows every impulse ( five-waves) pattern. In AUDNZD's case, the subsequent move took the form of a w-x-y double zigzag pattern which means that an impulse-corrective cycle is completed. We can now expect the price to continue...

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Bitcoin bulls are doing great but this triangle pattern is indicating that the strength is almost over. According to Elliot Wave theory, triangle pattern always preceded the last move of a sequence. In Bitcoin's case, price is making a five-wave impulsive move, so once the last impulse move in wave v is completed we can see a sizeable decline on BTCUSD....

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AUDNZD is making a five-wave Elliot Wave impulse pattern. To complete the impulse sequence, the price is expected to make one last lower high and new higher high as projected on the chart. The completion of wave (iv) corrective move around 38.2 Fib area will give us the opportunity to take advantage of wave (v). What's your view on AUDNZD?

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As you can see from the chart, EURUSD traded lower in five waves from March 2020 high, labeled (i)-(v). Sub-waves of wave (iii) are also visible. Five-wave pattern is known as impulse and indicates the direction of a larger trend, a nd once an impulse is completed a pullback in the opposite direction follows. In EURUSD's case, the pullback seems to be unfolding...

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From wave (x) high on the chart, USDCHF decline in an overlapping five waves sequence in wave "a" - knows as a leading diagonal in Elliot Wave. Leading diagonal points in the direction of a larger trend; which means that we could expect the price to move lower after the correction. The correction in wave b seems completed and also retest the trendline channel...

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LTCUSD's decline unfolded in five waves with an extended move in wave v. Since the market bottomed around $25 price has been moving upward in a sideway manner, which is what to expect after an impulsive move according to Elliot Wave theory. The correction seemed completed and unfolded as a double zigzag. Further confluence suggesting the end of the correction...

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The S&P 500 massive decline and the subsequent rally makes Elliot Wave sense. The coronavirus 35% sell-off was a classic five-wave EW impulse pattern. According to the theory, this implies that at least a three-wave correction should be expected. In SPX's case, the 28% rally that follows the decline is in three-wave so far and taking the shape of an a-b-c...

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The rally from $4000 low moved correctively and took the shape of Elliot Wave double zigzag pattern, labeled w-x-y. According to the theory, once a correction is completed the price resumes in the direction of larger trend, which is bearish in the BTCUSD case. Prices also break out of the rising wedge support decisively further signaling the completion of the...

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In the BTCUSD weekly chart above, price broke out of $6900 support zone aggressively to the downside. Since then, the price has been trending slowly to the upside with the bodies becoming smaller and leaving upper wicks, showing that the momentum is fading. Price is currently trading at the previous support and testing as new resistance and we see a small...

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GBPUSD's advance from 1.14062 low is taking the shapes of an Elliot Wave impulse pattern. According to Elliot Wave theory, impulse structure consists of five waves sequence, three of the five-wave move in the direction of the trend while the other two move alternate the larger trend. In GBPUSD's case, I'm focusing on the corrective pattern in wave (4) of iii...

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The price decline in five waves "impulse" after testing a double top area. Price is making a corrective pullback which will most likely unfold as a zigzag pattern based on the rally in wave (A). Once the correction is completed, the price is expected to resume in the direction of the impulse. Thanks for reading!

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Here we can see Silver making a simple zigzag pattern from September 2019 high. Wave (a) unfolded as a leading diagonal with 3-3-3-3-3 internal structure. It then followed by an a-b-c zigzag retracement in wave (b). Since the completion of wave (b), the bears have enjoyed a massive decline in wave (c) which is not completed yet. According to Wave Theory, ...