USDZAR we are correcting the downtrend that started in March 2020. Currently doing a wave C and we have so far done 4 waves and expecting wave 5 of C to start soon. Expecting USDZAR to drop and complete minor wave 5 of C of wave 4 before we start on the upcline to complete wave 5 red degree
EURAUD daily looks ready for that push down to complete wave 5 and sweep liquidity below 3 , the reaction at 4 is rxn to a mitigation block.. the swing trade has a potential of a 6R
Follow the arrow. Combining ICT principles with elliot wave, we see that we seem to have completed that impulse wave up , some pullback into 38.2 or 50% levels to take out SSL and fill the LV and retest the old high and maybe take out liquidity below iv before we resume higher
Greetings,
A look at the daily chart for DXY reveals an interesting scenario. Price seems to have completed the ABC correction it started early in the year. We have also purged liquidity above wave IV. Now will be looking to go long EURUSD based on this scenario.
Wave 1 is playing out as a possible leading diagonal . I surmise that we have finished wave c of wave iv and are now moving up to complete wave v of the larger wave 1 . Also of interest is the fact that price is currently reacting to the OB on Daily TF .. lets see how it plays
The analysis has been done from monthly TF all the way down to my possible entry TF
Reasons for buying:
Am anticipating that wave 1 green degree of wave 3 purple degree has finished now awaiting a pullback in three waves to form wave 2 green degree then push higher to complete wave 3 green degree, my focus will be to trade the wave 3 green degree and wave 5...
Hello Traders
The chart attached shows that DXY is likely to push higher one last time to complete wave (v) of wave 5 before we can now start with the big sell off that can potentially run to the end of the year, something that is synonymous with Q4 .
Hint: Once price breaks above wave iii we can then look for divergence between the high at wave iii and wave v...
Today am expecting GBPUSD to pull up to the OTE formed within yesterday's dealing range before pushing down possibly during NY session and might trade below yesterday's low by about 40 pips or thereabout
