AUDNZD has broken through the bullish channel center line and countertrend resistance. There is also a missed daily pivot above price which may add to bullish bias. Watch for resistance around the top of symmetrical triangle, BAMM line, and top of the rising channel. Entry is placed at the retest of the trendline with targets at bat point B and bat completion. ...
GBPCAD has completed a bullish bat on the 15m TF. Zooming out to 1HR we can observe a double bottom forming at the PRZ. Two longer-term trendlines provide added support at this level. The daily TL also forms a potential bottom barrier of a triangle pattern where the first bottom serves as touch four. Targets are placed at structure high and 1.272/1.618...
GBPAUD has broken a bearish trendline and could possibly reach its new monthly pivot for February, 2016. This is a simple mean reversion trade based on structural S/R and a trendline breakout. Support may be found at the 200SMA and 200EMA lines in addition to S/R from structural lows. The short-term bullish trendline may also add support should price reach...
AUDNZD may be completing its fifth wave in the third corrective wave of a larger degree correction. A bullish bat is complete at long term trendline breakout/retest to enter long. SL is placed at 1.13XA which is confluent with the invalidation level, wave-(1) overlap. 50EMA and 50SMA lines may provide additional support around entry. Target is placed at...
GBPAUD has entered the PRZ of a bullish Gartley pattern. The PRZ is confluent with two higher TF trendlines. Confluence in the PRZ: Bullish Gartley 1.272BC 1.272AB=CD S/R Zone Trendline Support (2X)
USDJPY has completed a possible ending diagonal at the PRZ of a bearish crab pattern. Ending diagonal target is confluent with the unhit daily pivot. Entry is placed at 1.618XA with SL above 1.786XA and target at Wolfe Wave target line and beginning of ending diagonal. Target also confluent with unhit daily pivot for 1/22/16.
EURCAD has been trending upward for a couple of months and has recently shown signs of weakness and a potential reversal. The 5-0 pattern is a great way to enter on the reversal. The entry is placed at 0.5BC which is confluent with the completion of a bearish bat pattern. SL is placed above structure highs and .618BC. Targets are placed at BC terminus,...
EURUSD is nearing the completion of wave-(e) of a possible contracting triangle that could mark the end of wave-(2) before the three-of-C breakout. Entry at AB=CD inside of wave-(e) is confluent with the completion of a bullish cypher and may act as a catalyst for the bullish impulse. Long term target is placed at A=C. It is possible that another rebound off...
BCEI may have completed an ending diagonal at the end of wave C of a zig-zag correction. This could send the pair on a rally toward its price target at around $9. In addition to the wave count, the current level is confluent between .618A=C, 1.786i=v, and iii=v which are all important levels to watch for support and resistance, especially toward the end of the...
On the daily TF, we are in the midst of the fifth and final wave of an expanding ending diagonal, counted as C of an ABC zig-zag correction. The monster buying opportunity will be at the completion of this C wave, however, we may be presented with a short term long opportunity with a R/R of 8.5. The current count is wave-b-of-(c) in a potential flat correction...
EURUSD is currently rallying with a second impulsive wave toward the top of the declining channel. The pair may see some resistance at these levels as wave-(c) did not surpass the start of wave-(a) and a sideways symmetrical triangle may be underway prior to the continued rally. The channel resistance may add to the bearish bias at these levels. I am still...
USDJPY has completed wave-C-of-(iv)-of-((5)), which means the consolidation phase may be temporarily complete and further bearish price action may be forthcoming. In order to catch the fifth wave movement, it is best to enter at a point which minimizes your risk and maximizes your reward.. This setup shows one way to utilize multiple strategies to supplement...
DIS is displaying bearish MACD divergence after a double top and a break of a 4 month long trendline. I am short on the retest of the trendline until the 93.25 area where a bullish bat could potentially be completed. SL is placed above .618AB with target above the completion of the bullish bat.
USDJPY has completed wave 3 of a potential 5 wave structure. The pair has broken a trendline to complete wave (i) of 5 and is retesting the trendline at the .618 retracement To add resistance, the 200 EMA and SMA lines sit above price and below the SL level. The daily pivot may also add resistance near entry. Entry is placed at 61.8% retracement with SL above...
AAPL has completed a five wave impulse and has been in a pullback since February 2015. Since wave-(A) was a three wave move followed by a pro-regressive 3-wave (B) rally, we can expect wave-(C) to be counted as five waves in a 3-3-5 flat. At this juncture, it is difficult to predict how deep price will consolidate after wave-3-of-(C) completion, but we will...
EURUSD may be entering a strong rally through wave-iii-of-(iii), providing an opportunity to take a long position with a R/R of 9.36. The larger C-wave is an expected 5-wave impulse considering wave-A was also counted as 5 waves (5-3-5 zig-zag). Since a bullish 5-wave-(i) was corrected by a zig-zag decline and a price was rejected at the .786% retracement of (i),...
On the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish...
GBPJPY is nearing the PRZ of two bearish harmonic patterns. The PRZ is tight at about 4 pips and falls in a nice S/R zone. EMA100 may also add resistance in this area. There has also been a slight bearish trend preceding the patterns to add to the bearish bias. Entry is placed at the base of the PRZ with SL above structure highs and target at .618AD. ...