the pair is trading in a clear channel range as you can see the upper trendline was the end of big wave 4.
if the counting is correct we will be expecting a wave 5 to finish this Cycle near 1/15-1.1600 area.
our stop loss will be above the previous top. the risk to reward ratio is awesome for this trade however it might be a medium-long term investment.
GbpUsd nearly completed a clear WXY corrective cycle and ended wave Y with clear 5 waves, i expect for the coming sessions to find a short term support and bounce to retest previous wave 4.
before any uptrend might happen again. so we will consider the upward move a correction until it proves its an impulsive.
Oil completed 5 clear waves near 74.30 per barrel, wave % can still be extended thats why we will be watching out for a final leg up and not put tight stop loss.
the expected next move is a 3 waves pullbakc that might retrace back reaching 68$ per barrel as a first target.
if broken we will be looking into a deeper correction.
Gold Witnessed a fives waves down reaching 1802 Level, and entering a 3 waves pullback at the moment.
at first we take into consideration that the pullback is corrective targeting 1863 unless the chart gave us a bullish momentum and broke the target.
be aware of a counter wave for now to retest 1830 level at which it will be a good entry to go long again.
Gold and Silver were diving for the past sessions however if we look into the scenario on a bigger timeframe, we can see that
Silver is trading near critical level at which prices might be looking for a buy setups or news to start a new impulsive wave.
please take into consideration that the above analysis is based on Elliottwaves strategy, with an invalidation...
after following up with the expanding triangle on the weekly chart, we can see a clear five waves up on this final wave on the Dowjones.
the current price is suggesting a near end of the fifth and final wave of the whole impulsive wave.
usually wave five can be equal legs with wave 1 or extended wave, as you can see in the above analysis the black lines near wave...
the pair is trading near a critical level that suggests the end of the fifth and final wave of an impulsive wave.
the lower band of this area is 1.2360 and might extend to reach 1.2410.
im not saying that the bullish trend is over however a corrective pullback is expected before a continuation might occur.
im looking closely to short this pair from 100% fibo...
Bitcoin is trading in a grand cycle wave labled as wave C, in which we are seeing a formation of five waves inside.
a real close above 35500$ will activate a more bullish scenario and gain more momentum to target 42600********* a great resistance in place.
42600 can be an end of an intermediate cycle and we can see a major pullback from these levels, however a...
the pair is finishing an intermediate 5 waves cycle that will label the grand cycle wave 3.
the resistance area is expected to start near 1.2260-1.2290.
a three waves pullback is expected to retrace and retest previous wave 4 near 1.2060.
we will be looking forward to buy the pair again to target new highs finishing wave 5.
Gold is probably going to start a minor pullback to finish a corrective wave 2)
that will be an opportunity to long again, as you may see in the chart above my count is impulsive, as i see gold may reach 1901 in the near term, and if broker 1057 again.
wave 2 can retrace 61.8-76.4 % of wave 1 that means the invalidation level is going to be near 1820's. if my...
Gold retraced nicely from 1750/60 area, and i believe that the last bounce is impulsive as we can see a 5 wave formation momentum.
that means any pullback for gold between 1820-1805 level is an opportunity to long gold. i know that the vaccine news can work against our analysis but with all respect i think that the market already discounted the vaccination...
the pair has been trading in a corrective extended complex wave, the last daily candles shows a change in the momentum, thus implying a bullish scenario ahead.
on the daily chart we can see an engulfing pattern as well which indicates a bullish pattern in view.
i would long this pair even after we saw a bearish candle in the last hours, from current levels.
the pair is completing a complex corrective cycle labeled as W,X,Y, which in my opinion can be already done and we will start looking to short the pair from current levels.
however because of the US Elections today im assuming there might be a more Complex scenario that can push the euro higher to an extended wave (X) before falling down.
thats why i will be...
the Pair traded in a range the last couple weeks, however the pattern shows that the upside momentum is still corrective for a
downtrend continuation. 7-9-11 swings are related to A,B,C corrective phases in Elliott Wave Theory.
tomorrow is the US ELECTIONS results so we will definitely expect high volatility trading, thats why i prefer to put pending orders (...
the exotic pair traded in a side ways ranging market for a long period of time, last week we witnessed a breakout to the upside
in which a bullish momentum is gained.
a retest was made by the pair during the Asian session today!! and the critical level acted as a great support.
a potential bounce can be seen from the current levels or from 1.6505 level.
The EURUSD gor rejected from 100% fibonacci level near 1.1880.
at the moment the pair retraced to trade near 61.8% critical level if broken and we witnessed a 4hrs candle close below 1.1820 we might see further momentum for the downside.
potential finishing a W,X,Y wave might take euro dollar to new lows belo 1.1600 level.
lets not forget the bearish monthly...
Gold has beed trading in a ranging market however in a grand corrective cycle.
that means the biased direction is to the downside in order to finish from the third corrective leg near 1805- 1776 $ per ounce.
meanwhile gold is retracing upwards in a 3 waves pullback, we will be looking for short positions near 1914-1917 level with respect to a stop loss
the Weakness in the Dollar index might continue in the near term, after Donald Trump refused to start the stimulus program we saw a bounce in the DXY index.
after that a weakness started to show which put pressure on the USDCAD and retraced down from 1.3340 to 1.3240.
however the USDJPY is still holding. reaching a 4 month trend line pressure we might expect some...