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EUR AUD SHORT! Just finished a 5 wave elliot which will need an ABC correction. We have also formed a head and shoulders. This should go down to the .618 of the fib which is also where the gap needs to be filled. Ideas always welcome.
USD CAD looks like a long to me. It just curved upwards and looks like it's going to aim higher. A nice 5 wave move is going to look for a .786 correction. RSI over sold and Stoch showing divergence. Long!
Aud/usd is a short for me. Beautiful rejection wicks right at the resistance. A perfect elliot wave is going to look for an ABC correction, most likely towards 61.8 which is also where the support will be. Stoch looks like its about to crossover and the RSI is overbought and already curved down.
Canadian swiss franc has two major horizontal levels. Price action looks like it might break horizontal level upwards and range between 7300-7700. It's had a very nice bullish run this week, however, it is important to wait for the daily candle to close above the horizontal resistance. RSI has reset and still has more room to move upwards. It also broke the...
Short on USD/JPY.
Nice cross on the daily stoch
Ready to break from symmetrical triangle.
5 wave pattern completed with abc retracement. Then a retest for another big wave.
Nice wicks showing no interest in breaking resistance
4 hour candle dwarfed the last few candles.
Ready to go down to 104
Good RR ratio
I'm not in this trade, but it played out perfect and I did not see it until now. Perfect elliot where wave 3 is exactly 1.618 of wave 1 and wave 4 with a perfect retracement. Wave 5 will reach the 7725 mark which is also around the horizontal resistance. I would not trade the ABC downward correction unless I see better signals.
I'm not a huge fan of head and shoulders, however this has formed nice. It usually represents a trend reversal by having lower lows and highs and then breaking the support/resistance. This is the ABC correction to the 5 wave pattern upwards. It's also in a symettrical triangle. The famous psychological market chart would consider this in complacency. Once it...
STELLAR BITCOIN. This is 100% relevant to the market psychology cycle. I've been seeing that chart a lot lately and it is extremely relevant to cryptos because that is the nature of a new trading chart. This is the depression stage where everyone has given up hope. (just under .786) This is where you buy a retracement. This thing will be back and its ready for...
New Zealand US short here. New Zealands reports of trade surplus were below expectations and yellen is expected to hype up the rate hike. Beautiful rejection of the daily resistance. Currently in a symmetrical triangle with beautiful rejection wicks. Nice crossover on the daily stoch. RSI showing it is overbought. I'm shorting at 7300.00
If i see this start to decline and a nice crossover on the stoch then I will short this pair. It is extremely overbought on the 4 hour and it is approaching horizontal resistance. Until then I will wait patiently for a short.
NZD CAD is looking like its about to reach it's fifth wave at around the record highs before it runs out of steam. My TP1 has been taken and now I'm waiting for TP2 with stops at break even. I'm expecting a big down move after this is all over.
Litecoin looking likes its about to consolidate. Heavy support at 100000. These cryptos are just in a panic mode for the week, but long term still says buy. Lets short this down to 100000 then we can see whats going on. All time frames except 4hour show bears.
I'd stay away from this. Too many mixed signals on all time frames. Stoch shows continuing downside. Daily still needs to retest the ichimoku cloud. However..... This will continue to rally up. Let the sellers panic and then I would wait for a retracement around 2200. Once the indicators confirm upside, then continue the uptrend.
I love the nice crossover on the daily stoch. Looks like it is bouncing of the support and potential ABCD and third wave of the elliot. On the 1 and 2 hour we see it broke the ichimoku cloud for further upside. Also showing a horizontal resistance at around 18.5ish. I'm long. Who's with me?