Veejahbee

Veejahbee

GBPAUD decline from March high is taking the shape of Elliot Wave five-wave impulse pattern. Price seems to have completed wave (iv) correction at previous 4th wave resistance circa and made a double top. Price is expected to continue lower if wave (iv) has already top. Targets below wave (iii) low is probable for wave (v) of ((iii)) in black. Do you like...

Veejahbee

EURCHF decline in a five-wave impulse pattern and also trading below the daily resistance zone. Price is retracing the impulsive decline and has the potential to retest the resistance level . Look for the breakout of the counter trend line and the green level for sell trade confirmation. The breach of the red line will invalidate the bearish outlook. Do...

Veejahbee

NZDUSD declines in a five-wave impulse pattern from the red level on the chart. According to Elliot Wave theory, a three-wave retracement follows every impulse move before price resumes in the direction of the impulse. As long as the price stays below the red level on the chart, I will be expecting further decline on NU once we see a decent corrective...

Veejahbee

USDJPY is making a series of 1-2, i-ii wave structure. This usually indicates a strong impulse move in wave (3) of 3. Price also rejected a resistance level with two pin bars on the daily chart. Expecting further decline on UJ once the price breach the green lines on the chart. The breach of the red line will invalidate this setup. What's your thought on UJ?...

Veejahbee

EURNZD is one of the FX charts with a clear Elliot Wave structure at the moment. The decline from the high took the shape of a classic Elliot Wave impulse pattern, labeled i-v. According to EW theory, a three-wave correction in the opposite direction follows every impulse pattern. That's why we're anticipating at least a-b-c zigzag move to the upside. However,...

Veejahbee

EURUSD is making a series of (i)-(ii), i-ii wave pattern which usually indicates a potential swift decline in third of a third wave. We can keep our focus on the downside against the 1.18496 near-term key level (red), breaking decisively below the green levels on the chart will suggest wave ii has already terminated and that wave iii is underway. What's...

Veejahbee

The EURNZD 4 hourly chart above visualizes the advance between July and August 2. More importantly, it reveals that the rally is a textbook five-wave impulse. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v). According to the Elliott Wave principle, this means two things: first, that EURNZD is in an uptrend; and two, that a three-wave correction can be expected...

Veejahbee

Happy new week traders! In the USDJPY 4 hourly chart above, price broke out of a triangle pattern and made a five-wave impulse decline in wave (a). A three-wave corrective move that unfolded has a zigzag pattern follows the sell-off in wave (b). According to Elliot Wave theory, once a 5-3 wave cycle is completed, the price resumes in the direction of the...

Veejahbee

Hi Traders, - In the GBPJPY 2H chart above, price is trading within an ascending wedge pattern. - Price made a multi-touch on the upper trendline which is suggesting deceleration of buyers. - I will be watching out for the breakout of the green levels on the chart which will also lead to the break of the ascending trend lines for short entries. - Price has the...

Veejahbee

Hi Traders! It has been a while I posted here. I caught a bug around June so I had to take a break to get proper treatment and heal myself. Remember guys! Your health is your greatest wealth. The market is going nowhere, it will always be there as long as the human race continues to exist. Trading has to deal with mental and psychological wellbeing. When you're...

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?

Veejahbee

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...

Veejahbee

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...

Veejahbee Updated 

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....