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The XAGUSD (SILVER) daily chart shows that the rally from 13.88 low is a classic five-wave impulse. According to Elliot wave principle, a three-wave corrective pattern follows every impulse move and the bearish move after the completion of the impulse in Silver exhibits this characteristic. . The corrective wave unfolded as a double three combination structure...

Hi Traders! The USDCAD H4 chart shows that the rally from 1.32499 to the top at 1.34501 is an impulse Elliot Wave structure. It has since made a deep corrective structure in wave "ii" which seems to have completed and unfolded as a zigzag pattern. Wave "ii" terminated at 78.6 Fib ratio of wave "i" and also last daily price action closed as bullish pin bar at...

Hi Traders, The CADCHF has just completed a zigzag correction which retested a swing level that lined up with 50.0 Fib ratio and descending trendline. . The correction which is most likely wave (b) of Y of double zigzag pattern signals the continuation of the downtrend in the wave (c) of Y. . Considering that traditional technical analysis agrees with Elliot...

Hi Traders, The AUDNZD set to make a bullish impulsive move in wave (C) of a weekly zigzag pattern. . The weekly chart of AUDNZD shows that the decline from March 2011 - April 2015 was a textbook five-wave impulse which supposed to followed by a three-wave correction according to Elliot Wave theory. . Since April 2015...

Hi Traders, The USDCAD broke out and retested the inverted H&S neckline that lined up with support level. . The price has also broken out the a-b-c zigzag corrective pattern CTL in wave (ii) with a five-wave impulse in wave "i." . To position ourselves in the bullish trend, we will wait for the price to make a three-wave retracement in wave "ii" of (iii) which is...

Hi Traders, The EURNZD seems to have completed wave B of (B) which unfolded as a double zigzag pattern "w-x-y," after a strong sell-off in (A) from Oct-Dec 2018. . Wave c of (y) of B also unfolded as an ending diagonal pattern. Also, prices have made a triple bottom pattern on the chart with MACD indicator also flashing bullish divergence (Not on...

Hi traders, The daily chart of NZDCHF shows that the uptrend from Sep. to Dec., 2018 is a textbook five-wave impulse pattern, labeled 1-2-3-4-5 of (A). According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse. . So far, we have seen a five-wave impulse in A of (B) and double three combination (w-x-y) in B of (B)....

Hi traders, The EURUSD seems to be in wave (b) of Y of a potential double zigzag pattern. . Price is currently retesting a key resistance that lined up with 61.8 FIb ratio, moving averages, and ascending trendline. . Considering that prices have made a double top pattern and bearish rejection candles at the confluence level, the odds strongly favored a sell-off...

Hi Traders, The 4-hour chart of XAUUSD shows a bearish reversal from a key resistance level at 1346.80 that broke below a support zone. . Currently, the price is retesting the swing level that lined up with Fibonacci ratio and moving averages in wave (iv) of A. . Considering that the price has reached a critical confluence area and the corrective zigzag pattern...

Hi traders, The 4-hour chart of AUDCHF shows that the breakout and retest of the Head & Shoulder pattern neckline is a complete 5-3 wave cycle. . The breakout shows a leading diagonal pattern in wave (i) and a zigzag pattern in wave (ii). . Considering that the corrective structure is completed and price also retested the broken neckline that lined up with...

Hi Traders, The EURUSD broke a key support level with a text-book five-wave impulse in "i" with an extended wave (5). . A three-wave corrective chart pattern is expected after an impulse move, and the current retracement seems to be unfolding as a zigzag pattern which is most likely to terminate at the swing level that lined up with 38.2-50.0 Fib ratio and moving...

Hey Traders, Hope you're having a great weekend! The 4-hour chart of ETHUSD shows that the rally from $102.78 to $170 can actually be seen as a textbook five-wave impulse in wave (i) "blue" of 3. . According to the Elliott Wave Principle, a three-wave correction in the opposite direction follows every impulse pattern. And indeed, the rest of the chart reveals...

Hi Traders, The 4-hour chart of BTCUSD shows that the reversal from 78.6 Fib ratio and a sharp surge from $3412 to $4274 which broke out the descending trendline can actually be seen as a textbook five-wave impulse in wave (i). . According to the Elliott Wave theory, a three-wave correction in the opposite direction follows every impulse pattern. And indeed, the...

Hi Traders, The 4-hour chart of EURCAD shows that the break out of descending wedge that lined up with a key resistance level is a five-wave impulse in wave (a). . According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse pattern before a resumption in the direction of the trend. . We will wait for the completion of...

Hi Traders, The 1-hour chart of EURGBP shows a broke out of a support level with a textbook five-wave impulse. . Currently, the price seems to be making a three-wave zigzag corrective pattern which is most likely to terminate around 38.2 and 50.0 Fib ratio that lined up with the broken support turn resistance and moving averages. . Given that the correction is...

Hi Traders, The 4-hour chart of NZDCAD shows a bullish move from October 2018 as a classic five-wave impulse in wave (A) "black." According to the Elliott Wave theory, a three-wave correction in the opposite direction follows every impulse pattern. And indeed, the rest of the chart reveals an A-B-C zigzag correction in wave (B) that rejected the 38.2 Fib ratio...

Hi Traders, The 4-hour chart of AUDCHF showed a reversal from a key resistance level and a broken H&S neckline. . As shown, the breakout impulse can be seen as a five-wave impulse pattern, labeled i-ii-iii-iv-v (blue). . The Elliott Wave theory states that a three-wave correction follows every impulse. That is exactly what we are looking for now in form of a-b-c...

Hi traders, The EURUSD is retesting a broken ascending channel that lined up with 61.8 Fib ratio and moving averages. . This pair seems to have completed a three-wave correction that unfolds as a double zigzag pattern after a text-book five-wave impulse in wave (i) "red." . If this count is correct, the 5-3 wave cycle is almost complete, and a bearish reversal for...