All 3 wave structures meet criteria of ABCDE wedge, All X waves identical, All Y waves extensions identical. THis is a great 700 pip trade up
Invalidation is a close below the daily trend line of current WX structure (Green label)
Normally harmonic pattern trades wait for the final leg to complete for confirmation, then take the retracement into D there after.
Why not take the entire D????
This could be a great trade. Stop loss below 1.414 plus 20 pip
Text book structure. Sitting on this weekly trend line, looking for bullish momentum up to tag the upper wedge trend line.
AUDUSD has room to increase
NZDUSD has broken a uptrend, and is correct below the trend line for further selling.
The Bias suits this structure.
Please comment if you disagree so I can improve my analysis.
Please comment if you...
BTC long to 11k BUT i am calling this the family sell off point.
What does this mean?
In 2017 every Tom, Dick, Harry, Wendy and Lucy were buying cryptos at $11k+ though to 19k, believing this bull market would never end., when in fact there was not much more growth as profits become realized. These poor family /non active traders were in losses for two years....
Look for Silver to drop towards the 61.8% mark. We know this has been a major level or supply and demand. Let the demand present again and silver will recover. In the next few months we could see some big plays for longs.
Completion of reporting season which followed after the financial sector royal commission.
Will start to see profits taken from this months small rally before a second chance of accumulation will present to target the prior top
Gold presenting bullish signs if it can break above this 1 hr flag. Target price is approximately $1,320.
Yellow arrows: Preferred prediction as I believe the break above flag will be quite bullish.
Teal arrows: Second scenario could see gold tag the trend line channel before making its way back up to $1,320
Started a new account with IC Markets using C...