the whole (W) (X) (Y) combination correction looks like a double flat.
This is the first zigzag. check the "related ideas" links to see what I'm looking for. I was in the buy of this zigzag in the first stages of it; If you know how structures develop, it's possible..! Now I'm expecting a corrective wave as wave X then another zigzag.
both scenarios have profitable trade setups. wait to see which one is going to play.. I'm in long from about 156.740 ( check related ideas), as soon as I find out that its going for triangle, I'll take profit and look for short setup , and if I was wrong and it breaks to upside, I will wait for correction for another long setup.
Anticipating one more wave to the downside. I was willing for a reversal to upside in my previous analysis, price made a trendy move to upside as expected but it's more looks like WXY correction rather than impulsive move, so it seems that still there is one more wave to downside to complete this complex corrective pattern (look at related idea link).
I'm waiting for one more wave to the upside; then I'll decide whether there is one more wave to downside or not, right now I believe there is one more wave to downside (after this wave to upside)
2 scenarios possible red: ending diagonal as the last wave of complex correction. green: a correction as wave 2 and an impulse to upside
Note the nature of market; price acts fractally and repeat a pattern over and over... Its making 3 waves, each one contains another 3 waves structure itself this setup is valid if price breaks the trendline and consolidates in lower time frames.
price acts as corrective structure and looks like a double combination or triple combination. still there is no trade setup, we have to wait to see a clear structure. There are 2 different labelings, blue one is WXY correction ending with an ending diagonal ( red numbers refer to blue scenario and ending diagonal) and green one is WXYXZ which is not finished yet;...
I saw analysts who analyse this pair (CADCHF) and they conclude that there is sell setup because of some meaningless reasons. I anticipate there is one more wave to the upside to complete this corrective pattern and after that, there is a sell setup, but if you sell now and your stop loss is at 0.76130, there is a high probability that price hit your SL and then...
The pattern is triple combination ending with triangle. I'm looking for a break even trade at the break above 0.71723. Break even trades are trades which I enter and I move my stop to break even as soon as structure allows me.
Monthly view of EURCAD. its in the correction phase. now its going for wave Y of complex corrective pattern.
It seems that an impulsive phase has been finished. this impulsive wave, itself, is possible wave 1 of a long term down trend ( or maybe wave A of a long term correction, but wave 1 is more likely) I will wait for correction in lower time frames for long setups and joining this movement to upside.
These are possible future moves of EURNZD. Don't forget that corrective structures are very complex and they can develops in various types of patterns, so i don't expect market goes completely in the way i anticipate, but maybe this is the best labeling based on price action we have right now. This long term analysis is not a trade setup. It is just an analysis...
This is a long term outlook of GBPCAD. Now we are in correction and A wave of an ABC corrective phase is about to over. We are going for a B wave to upside; but it won't be an impulsive and sharp move, it will develops in a corrective manner. This long term outlook leads me to several trades in lower time frames. I will post updates below this post, whether the...
I think the flat correction is about to end and we will see an impulse wave to upside soon. I'll be a buyer at the break of correction happening after 2-4 trendline breakout or after break above the wave 4 of Y wave of the flat.
this is based on my previous forcast that this correction is about to end and it has been ended as ending diagonal.
I'm waiting for break out of the trend line for several sell setups.