XAUUSD ( Gold ) January 14, 2020 ( 4H timeframe )
In my opinion, the movement of Gold today in correction wave 4 rignt now , which wave 4 is contain sub wave (A), (B), and (C)
As you can see, sub wave (A) is done, and for now , my prediction that is price willing go up to form sub wave (B)
As an elliotician ( I call myself like that, because I like using elliot wave technique to predicting market ) , I really like to just wait and see to one of my favourite pair , this GBPJPY !
As you know, I always post my tutorial about GBPJPY ( mostly 4H timeframe ) and you can see, the price get push up to try reach the wave B.
No matter seller...
GOLD as you can see, seems still wanna more go high and high .
Remember wave IV already done, and yaaaa price now doing the movement up to fulfill wave V ( which wave V contain sub wave 1-2-3 are done, and now it will correction to sub wave 4 then going up again )
As you can see. I predicting the gold will get correction until 1533 ( 38.2% fibo correction )
Because price is more bullish pressure, my advice to follow the crowd . Just wait opportunity to open buy when correcting finish at wave 4.
GBPJPY Dec 30, 2019
As you can see, on 1H timeframe, after I re-calculating wave, price ever formed TRUNCATION movement ( and that happened in wave v )
** I suggest you to read a book ELLIOT WAVE PRINCIPLE by Robert Prechter & AJ Frost, so you know what that TRUNCATION
After TRUNCATION, the price will be raised to wave B, after then many will fall...
GBPJPY on Dec 26, 2019
1h timeframe, GBPJPY seems forming the complicated correction WXYXZ, which wave Z almost done.
My assume is GBPJPY falling down to finishing sub wave v ( mean wave A also complete ).
Invalid level on 143.976 !
If price go up until breakUP the invalid level, it mean I am wrong
However, trading is about "possibilities". Consider your...
EURUSD Dec 24 , 2019
On 1h timeframe, I see wave 2 contain complicated waves, WXY
Which as you can see, wave W and X were finished , and in this time, price forming last wave , it is wave Y
Wave Y contain ABC ( well I see this wave Y is expanded flat )
A and B were finished, and let see, the price is forming wave C right now !
FYI Wave C is wave 1-2-3-4-5 , and...
price reaction reject to continue up after hit 1.12508 , because it is fibo retracement 0.886 ( 88.6 % ).
In fact , we must consider too EURUSD in strong bearish trend and in red circle, there is fake bullish tail.
So I'd prefer to sell EURUSD
Make simple the way you analyze this USD INDEX.
You see price absolutely breakout resistant 98 succesfully , then now it get correction to down . BUT...I believe , price will going up again to reach 104