jaco.fin

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Joined South Africa
Markets Allocation
86 % forex 14 % other
Top Mentioned Symbols
GBPUSD 71% | 5 USOIL 14% | 1 AUDCAD 14% | 1
jaco.fin jaco.fin GBPUSD, 15, Short ,
GBPUSD: GBPUSD Short term down
101 0 3
GBPUSD, 15 Short
GBPUSD Short term down

Looking at a quick trade down before the weekend.

jaco.fin jaco.fin GBPUSD, 60, Long ,
GBPUSD: GBPUSD Breaking Structure and waiting for that flag
78 0 5
GBPUSD, 60 Long
GBPUSD Breaking Structure and waiting for that flag

Breaking up the contracting triangle, I am seeing more clearly how this complex structure developed. I am looking at the last impulse up as the (W)-wave with the correction making a (X)-wave down, the (Y)-wave making its own structure that then broke the triangle (but not yet completed the (Y)-wave. This does not mean blindly entering a trade on the breakout, ...

jaco.fin jaco.fin GBPUSD, 60,
GBPUSD: GBPUSD Contracting Triangle
58 0 3
GBPUSD, 60
GBPUSD Contracting Triangle

My analysis shows me that if we look at the last impulse down (arrow down) we started the correction that looked like a typical w-x-y-x-z correction, but now it seems to be making a more complex structure that is starting to look like an contracting triangle. Personally my bias is to look for one more drop, but the market has a mind of its own, so I only trade ...

jaco.fin jaco.fin GBPUSD, 60, Short ,
GBPUSD: GBPUSD FIB for down move
125 0 4
GBPUSD, 60 Short
GBPUSD FIB for down move

Entry order placed for the SHORT @ the 61.8% FIB. Risk Reward ratio of 1:4

jaco.fin jaco.fin GBPUSD, 60, Short ,
GBPUSD: GBPUSD z-wave down to complete the corrective structure
91 1 3
GBPUSD, 60 Short
GBPUSD z-wave down to complete the corrective structure

Looking at potential down move breaking the low of the y-wave to complete an w-x-y-x-z corrective structure, this will complete a C wave on a higher degree and a B wave on a next higher degree. I believe as soon as price breaks the low of the y-wave, this will create a sharp and big move up.

jaco.fin jaco.fin AUDCAD, W,
AUDCAD: AUDCAD
36 0 3
AUDCAD, W
AUDCAD

waves

jaco.fin jaco.fin USOIL, M,
USOIL: OIL Wave structure
60 0 0
USOIL, M
OIL Wave structure

OIL

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