mgh85

mgh85

The instrument is in an uptrend as a corrective move. I personally think the move will continue to1852 -weekly resistance- which is in line with 0.786 fibo ret of the previous downward impulse and a strong supply area. From there, we will have another downtrend that will pass the previous low, and I think the price will move downward to 1619 which is weekly...

mgh85

respecting both upper and lower trend lines seems to formed an ascending wedge. I personally think after a retest of upper boundaries price will broke the lower trend line and an aggressive down trend will form.

mgh85

The pair breaks the weekly static resistance around 1.155. If it manage itself above this resistance, the next level to see is 1.1615. otherwise it will find support about 1.149 which is supported by 0.5 fib ret of previous impulsive move and another weekly static support line.

mgh85

reasons for long are explained in chart. the bearish move seems to be temporary and the pair will resume its uptrend soon. even maybe today!

mgh85

The chart is self-explanatory. The correction may continue to 0.5 fib and then downtrend will resume. you may enter the trade now with R/R. 3.7. put the sl slightly above 0.5 ret or at 0.618 ret and set your target to 127.940.

mgh85

The previous move was clearly a five-wave downward move. now the price is retraced about 50% of the past move. we can expect the trend to resume its downward direction. but first the instrument can retrace some more and goes up to reach about 61.8 to 78.6 fib ret. you can short it now with Reward/ risk 3.5. Good luck.

mgh85

As you may see the pair moves was restricted inside a rang for a while. The pair constantly shaping lower highs and higher lows which can be an indicator for a nested Elliott move. Recently the pair has just broken the range bottom with a five-wave move and then sharply corrected it to near the last high. but bears again came into play and we saw a strong...

mgh85

As you may see in my previous analysis on this pair the pair retraced to 38.2 fibo ret. You can see the previous analysis here ( ) The nature of the wave tells us that the move was a corrective one, and now we can see that the market is in hands of bears so we can tell that wave 5 is in progress. For wave 5 we can expect 61.8 ext of wave one to three and based on...

mgh85

XAUUSD in 4H TF faced strong horizontal resistance and also 200 ema resistance in one hand and it seems that the instrument is at the end of an ascending wedge, the fibo level is also about 78.6 ret of last swing low, and the RSI indicator shows overbought in other hand. so there are enough reasons to enter a short position with risk to reward 1/2.5. I personally...

mgh85

From an Elliott wave viewpoint the end of correction will be about 1.16 which will reach next week. After that, we can expect a strong bullish run wich will last for months and will break the previous top. stay tuned.

mgh85

sell now with great R/R after a good run, it seems that this pair needs a break. RSI is capable of divergence, and candles tell me that we had a reversal so sell now to the yellow box, this zone is supported by horizontal support and ma 200.

mgh85

currently, we are waiting for wave 4 of 3 of minor degree and we can expect an upward correction

mgh85

The pair is now supporting by 2 weekly trendlines. wait for a sign of reversal. may be the end of the next week!

mgh85

As you may see in the chart the pair completed a 3 wave down. this may be the end of a bearish run or just part of it. What is obvious in the chart is that we should have a bullish run at least to 1.5043 which is covered with to PRZ target. first the 1.618 extension of the previous upward movement. And the second is 0.382 fib ret of 3 or c. so I am going long with...

mgh85

After a choppy and labour effort raising in this pair as wave B, it seems that bulls are exhausted and bears are slowly coming to the play, I personally think the price will fall to at least 106.81, the stronger PRZ maybe 105.81. so I will go short with SL on 110.4. you may want to see the previous analysis here.

mgh85 Updated 

After completing a five-wave as wave 1, now it seems that wave 2 correction to be a running or extended flat which confirms that the next impulse will be a strong one! For this week we can expect bears to take control and pull down the price. The most probable turning points are PRZ1 and PRZ2.

mgh85

Without paying attention to the long term pattern, the short term wave analysis of DXY shows that it should at least move to 91.328 and in this run the 90.826 acts as a resistance.

mgh85

let's take a look at the bigger picture. The pair seems to complete three of five major waves. It seems wave four is steel in progress. the previous downward move seems just wave A of this correction because it doesn't touch any of fibo level. now there are two scenarios. The first and in my opinion, the most probable one is that wave B is still in progress and...