A firm believer in the Wave Theory. If you think about it deeply enough, life itself is a wave. Catch the wave and ride it. Waves consist of Amplitude and Wavelength. Waves are the Financial markets. Corrective and Impulsive
Joined 7 months ago
Currently observing a correction in the making. I'm still trying to figure out what this correction is going to do. I've ruled out any major bullish impulses at this point.
Looking to sell.
If you look carefully inside this correction, there's an impulse to the downside which is prompting me to short it now.
My Two Cents:
USDCAD Will be looking to retest the 1.36 Level one more time before Supply over powers demand
Weekly : Price Testing Cloud Zone - Rejected Once
Daily: Price is starting to retrace from a daily consecutive bullish trend
4H : Reversal in effect
1H : Double Top Is Clear
Now to confirm this sell, ...
NZDUSD was in a uptrend for most of the year 2016.
Head/Shoulder pattern to the downside is completed. It broke the neckline.
This pair is currently in a downtrend and will break or reverse when it hits the 0.70 Level which is on a major weekly trendline .
I am bearish on this pair in the long run
NZDUSD is currently consolidating after a strong impulse to the downside. The strong impulse down comes after the Fed increasingly confident about raising rates in the coming weeks. The next impulse might come soon or later.
When the world starts reacting to any major news i always see a spike in Metals as they tend to want to invest in something solid instead of world currency..
how people trade the news.
I just count the waves and trend line . It seems more probable that it will go long in the next day or 2
This looks like the end of the downtrend for the USDCAD.
Since the previous structure failed to create a lower low we are now reversing into a bullish trend.
Wave C will form a Bullish impulsive wave.
Let's wait for the price to hit the previous low before entering the trade or wait for price to bounce off the ...
USDCHF is bouncing off a strong support zone and will rebound to the next major resistance zone which is going to send the price to 0.96269 and higher
Risk Reward 1:3
Stop Loss 0.95462
Take Profit 1 : 0.96269
Take Profit 2 : 0.96770
Eliott Wave Entering wave 3 or wave 5 of the complete basic wave pattern
Hello good afternoon traders,
i used the Fibonacci retracement tool to help me understand the retracements on this chart. After Wave 2, the Market continued to sell. Wave 2 ( a corrective structure ) is correcting Wave 1 and the ...