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completing wave (4) near 1234/1239 will trigger sell positions towards 1120 an ounce as a first target.
long term view: breaking below 1120 an ounce will target 900$ an ounce to complete wave (5) of (5) before turning north towards 1550/1600$.
after the inventories today oil traded near end of wave (5) of (3). a three corrective pullback will be completing wave (4) at which we will be
adding positions to turn south targeting 67$ a barrel as a first target.
on a larger frame wave (B) cycle may reach 55$ a barrel before turning north again reaching 100$ long term.
after the daily engulfing pattern we wait for a retracement to finish the inverse head and shoulders pattern
that will target 61.8 or 76.4 % fibo level from last low to last high scored.
risk to reward ratio is great we might look for another short from above since the weekly chart looks weak.
long term chart on #Gbpusd is aiming for wave four to retest the bottom of wave 1 which can be a perfect area to try to short
this pair aiming for new lows on the long term monthly chart. closing above 1.4650 will invalidate this scenario and gain bullish momentum to revisit 1.70 area long term.
daily engulfing on euro chart gives us bullish signal in the near term to target again 1.2450
however possible triangle is in shape to finish wave 4 before the final impulsive wave 5 starts
1.2900 is my long term target. closing below 1.2100 a daily close i mean is a bearish signal
and we invalidate this scenario.!!!! good luck
Eurjpy marked an engulfing pattern on a monthly chart, one of the best simple techniques to determine a trade.
i suggest to wait for a pullback so that stop loss would be acceptable. shorts may be targeting 118 at first then 113.
Sp500 is in a corrective wave named wave c which goes down in an impulsive manner in a 5 waves down.
we can be trading now wave 2 of wave 5 at 76.8 % fibo level then turning south to target 2474.
invalidation level is pointed on graph. good luck
gold hot a very important low at 1303 which represented 100% fibo expansion for three corrective waves.
we started final impulsive wave 5 probably in an up channel which is done with the lows and its time to go long targeting 1420
today is ADP employment and Friday non farm payrolls we expect upside momentum,
the Aussie is completing wave c which should be up in 5 waves targeting 100% fibo expansion.
d'ont forget that gold is giving a bullish signal and the Aussie dollar is named the commodity currency.
stop loss is near its a closing below the trend line drawn on chart.
BITCOIN IS TRADING NEAR 7000$ AND NEAR ITS INVALIDATION LEVEL OF THE LONG SCENARIO.
SO BUYING FROM HERE HAVE MINIMAL RISK TO REWARD RATIO.
I LOVE SUCH TRADES THAT HAVE A SMALL RISK OVER HUGE POTENTIAL PROFITS.
TRADE WAVE C TARGETING 11900 THEN R2 AT 13500$ WHICH MAY BE THE END OF THE LONG LIFE CYCLE OF THE BITCOIN.
BENEFIT FROM THE LAST RETEST TO THE 13000$ LEVELS.
USD/CAD IS TRADING WITHIN BIG WAVE C ON WEEKLY CHART, USUALLY WAVE C IS DOWN IN THE SHAPE OF 5 IMPULSIVE WAVES
AFTER THREE CORRECTIVE WAVES ARE DONE WE WAIT NOW WAVE 2 AT 1.3005 TO SHORT TARGETING BIG WAVE C AT 100% FIBO LEVEL AT 1.1500.
FOR SHORT TERM PROFITS WE CAN CLOSE OUR SHORTS AT 1.2100.
STOP LOSS IS ONLY 130 PIPS AT 1.3135 SO THE RISK TO REWARD RATIO IS...