fxmillions

fxmillions

What more can you ask for the start of 2016? We have a possible Bat and Triangle completion of a second wave correction of a higher degree. Some might count this whole triangle as a B wave correction. Nevertheless its a correction of an up move and a clear wave formation. So we are looking for the next impulse to the upside. This gives us the chance for a pin...

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Corrective ABC structure seems to be complete. Which in my counting is the IV higher degree corrective wave of a large down trend. Only problem is the final C wave is below the initial A wave of the overall completion. Any thoughts ?

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The first phase of the corrective structure is a clear flat. The second phase is underway, so it could be either the green triangle or the red ZigZag. If it is to be the triangle we should see a clear reversal at the Blue trendline resistance to complete the last leg of the triangle. On the other hand, if price clearly breaks the Blue trendline resistance, then we...

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Here's a bit of a drill down to the 1H to analyze the current market structure. USDCAD trade analysis on the daily chart Wait for for C wave of minor degree completion to go for a possible short, what could be a possible 3rd wave of a 5 wave sequence down.

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Has the USDCAD topped already? My wave count does say so. By the way I'm already short from 1.39383. But the entry signal was a Bearish Dragon pattern. Nevertheless its a relief to see that my wave count tallies with the trade.

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If the corrective ABC is to complete at the equidistant trendline support, there may be opportunities for short term scalping to the upside.

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This is my take on the GBPUSD wave count . I'm quite new to the Elliott wave stuff. Constructive criticism welcome.

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on 4H the BAMM line has been clearly breached. This would be my first BAMM trade. But I am yet to enter as I expect a pullback below the BAMM trigger line according to trendline resistance. Will enter on any convincing pullback.

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This is what I see. Structure of this 4H downtrend suggests that 1.10000 is at a highly probable reversal point. NFP is the booster that would take price to this level quicker than expected. While its my naivety to expect such a swift move within a couple of 4H candles, its NFP day. Nevertheless the price is expected to be within the blue area for the foreseeable...

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AUDUSD is gathering bullish momentum. Given the long term bearish trend, this is a significant impulse wave towards upside. Keep an eye on this guys, this could be the reversal we all have been waiting for.

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EURGBP has bounced off the trendline support. Is it heading towards a Gartley completion at the upper trendline resistance? Regardless of the Gartley, if price breaks out upwards off the 15M channel, then its a long entry for me. But EG has been in a tight range the whole day. So its very unlikely that we get a signal at these late hours, a possible trade for...

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Considering the momentum of the bullish trend I would wait to see strong confirmation to go short. Last couple of H4 candles seem to be interesting. Lets see if the market would give our entry.

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If price breaks out of the 15M channel, I believe it to be the start of a long term bearish move. What do you think?

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How strong of a move can we expect?

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GBPUSD is showing some weakness to move further up. But I still see a possible retest to the trendline support possibly completing a Gartley pattern. For me the price to watch is 1.57000 which has been tested several times and rejected in the recent past. So short term, I believe there is yet another upward move left. What do you guys think?

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Weekly trendline resistance and AB=CD completion around the D point as well

fxmillions

Its intriguing that two candles with the exact same body and wick measurements, even with all the indicator values matching, can actually encompass price-momentum towards opposite directions. I have outlined two possible scenarios per each candle type. Note that regardless of the candle type - bull or bear, the last C wave and the main B wave of price within the...

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AUDUSD is at a significant zone as the Daily candles have just wicked on to the Monthly support line. Now a trendline does not always hold or fall on a first touch. But in support of a swift reversal, we have a possible harmonic pattern completion - a 'Bullish Deep Crab,' right around the price-contact-point of the monthly trendline support. So this presents a...