About meMaster of Computer Science,
Self-thought financial markets trader;
3+ years experience in Forex, Commodities and Stock.
I am one of the students of Anil Mangal and learning wave analysis and chart structure
I'm looking for some kind of flag before selling
BUT this can repeat an ABC correction pattern (like that one but smaller) in this area for one more push up, then I'll sell from there
Check the 2 links below, I'm still selling this to catch the big move down
Eventually first small sign of divergence:
It bounced on the weekly trend line
Made a small ABC correction
Is trying to close above 15 min current downtrend channel
And there is a divergence on 30min chart.
After 20 min if it can close a 4H candle here, I'll look for buy
Looking at the daily chart and assuming my wave count is correct, seems gold has not completed its 5th wave.
The current place is the perfect place to go for the 5th wave and test the previous low at the same time (look at the images below)
Seems US Oil has completed its 5th wave of down move and is getting ready for either UP move or Deep pull-back.
It broke the local trend line and is making a nice flag on the line...
Check out 2 related ideas at the bottom too
Fundamentals that are supporting the idea:
1. Discussion about oil output cut at OPEC
2. Iran Oil sanction
3. A decrease in Crude Oil...
EURUSD broke the trend line sharply, it could start the uptrend, BUT there is a Strong possibility that the whole structure becomes a running flag and it goes down again (same as GBPUSD check the link below), especially looking at EURGBP chart that is showing a long-term downside and DXY idea (check the ideas at link below)
GBPUSD broke the trend line sharply, base on the previous idea (check the link below) it could start the uptrend, but there is a possibility that the whole structure becomes a running flag and it goes down again