Dollar Index is correcting for what I believe to be at least one more move up. Question is, will it mirror the previous move to touch the upper trendline? Or, will it make a smaller move and continue its descent? I'm leaning toward the longer up move but we'll see how the structure plays out.
It’s about time for movement in USDCAD. I believe history repeats itself and this current corrective structure looks a lot like the previous one. Be on the lookout for at least one more impulse down to finish the 5-wave move before long term upside.
We have a strong move up, three-wave corrective structure, and now we’re expecting another strong impulse up. Similar setups for impulsive movements are seen on all New Zealand pairs. If you go down to the 4H, there’s a break of the trendline which is another good sign for upside. It may not be today or tomorrow but it’s coming.
I'm not the only one in the trading community looking at the GBPCAD short. However, I'm not jumping in just yet. I'd like to see a small break to the top trendline before the down move. The current structure on the 1 hour chart seems a little too corrective to spark a huge impulse down but the chart will do what it wants! An entry order at the purple line would be...
We've seen a breakout of the corrective structure. The chart is printing a small correction (very similar in structure to the previous correction boxed in October 2018.) If history repeats itself, we'll see an upward impulse following the 4 hour correction.
Been looking for the down move for a while now. Chart's formed a textbook 3 wave correction, broke out, and retested the trendline. Now we're looking for at least one more impulse down. Whether it keeps dropping or reverses upward after the impulse, we don't know yet.
I was anticipating more sideways action for LTC over the coming months before it takes off but I may have underestimated. This current move looks impulsive so I'm watching for LTC to break the December high and hopefully launch much higher from there.
Fibs lining up perfectly for either a 3 wave or 5 wave pattern. I'm biased toward the 5 wave pattern but if I see a breakout and small consolidation after the next leg up, I'll be in the buy from there.