Here is an update on the 15mins chart.
3waves down from 11.2k region to 10.3k , and wave 4 is forming an expanding triangle.
Expanding triangles are five-wave triangles.
Triangles are pattern that appears usually in the middle and at the ending stages of the trend, they are usually seen in wave 4 in a motive phase and waves B & X in a corrective phase. I think I...
I pointed out a key reversal zone in the USDCHF's analysis I published on Feb 17. Price reached the area and find sellers.
With the completion of the correction, a 5-3 wave cycle is considered completed. The trend is expected to resume in the direction of the impulse pattern which is bearish in the USDCHF's case.
The target below 16th January low is plausible...
In the CHFJPY chart above, price is making a bearish (a)-(b)-(c) corrective pattern after the completion of a bullish five-wave impulse.
The corrective pattern will most likely unfold as a zigzag based on the current structure of the decline. I'm expecting a sell-off in wave v to complete five-wave impulse in (a), followed by a corrective pattern in (b), then I...
Here Silver analysis again. This is my most important watchlist for next week. I got stopped out last week but had a new entry on Friday, and I will be looking to add more long position this week if I get the correction.
Price seems to have resume wave (iii) after a simple zigzag corrective structure in wave (ii) that terminated at a confluence level that...
Hi Traders,
We've seen EURUSD breakout of the Ending Diagonal with a bullish impulse wave. An impulsive breakout is quite significant because it simply means that the diagonal pattern is complete and that the market is ready for long positions. We have a gartley pattern which suggests a long entry if price reaches the 1.0974 region.
In summary, I'm bullish on...
Hi Traders,
On November 28th, price was showing a contracting triangle and making the case for a long setup. The triangle has now been invalidated and price is forming a regular flat. We may still have a long setup if price retests support at 1.3255, thereby completing the regular flat.
I have indicated clear buy and sell zones.
All the best,
Wave...
There are two possible outcomes: (1) Price will sell into the blue box from current levels and continue correcting between 107.00 - 109.00 or (2), we may be in the beginning of a 5 swing wave C. The possibility of sustained down side is supported by the fact that price is currently at a critical retracement (0.5 - 0.618) of my wave A. If price pushes through the...
In wave analysis, the guideline of alternation warns to always expect a difference in the next expression of a similar wave. Although alternation does not say precisely what is going to happen, it gives valuable notice of what not to expect and is therefore useful to keep in mind when assessing future probabilities. So we can expect anyone on the corrections that...
In the past couple of sessions, price dipped from $1514 to $1450 and is now suggesting either a regular or expanding flat (this is confirmed by price pushing below the previous low). At current levels, price is now forming an ending diagonal sequence this usually indicates reversal. We also have divergence on the RSI to support the ending diagonal reversal....
The overall structure I'm looking at sees price forming a WXY zigzag. After the current bullish momentum on the lower time frames, I'm expecting price to resume it's bearish trend all the way to the 1.8000 region to complete wave X on the micro degree. Following the completion of wave X, I'm expecting further upside momentum towards wave Y. We'll then have a...
Price has formed a zigzag structure from the drop on October 15th, 2019. At current levels, price has retraced into the golden zone (50.00 - 61.80), an area whereby we may reasonably expect some reversal and trend continuation. However I'm quite skeptical about the current sell because price may just correct in a double structure before we see the imminent drop ....
Gold is currently on triangle correction that is preparing for upside strong trend. As elliot wave theory it should be ending the E wave of triangle, and next big move will come. B wave is finished on exactly 61.8% of A wave and D wave is also retraced exactly 61.8% of C wave. Remember that it is hard to anticipate where would E wave ends, also it is long-term...
hello, namase, bonjour, konnichi va, hola,
i present to you, ART!!
the main reason i make these charts is to educate and discipline myself..
the mistakes i make and my bad habits that i really want to overcome :
1. over trading
2. the constant need for being in a trade all the time
3. premature entry into a trade.
4. premature exit
5. panic close trade.
if you...
Hey guys,
So, XRPUSD had a dreadful dreadful retracement down from its high of over $3. We seem to have made a solid bottom though and are moving smoothley!!
Our Wave 1 broke up nicely with a 22% gain in price, and then we had a fairly deep correction on Wave 2 going even lower than the 0.786 Fibonacci Retracement . I count a full 5 Waves up to complete our...
Hi traders, just posting a quick analysis whilst I am passing through.
Here we have NZD/CAD on the 2H chart.
Price recently had a strong up move, stalling at a historical resistance zone. From here there has been multiple reversal candles at the zone and I am now expecting a down move to begin to the downside.
I am expecting a correction to either the...
