wavefxacademy

wavefxacademy

The change of events based on today's price action shows where the market maybe continuing on the bullish forecast I made mention of last week. I will link that analysis below. The daily trendline is proving to be a strong support zone for the market. Personally, I would be looking for the market to correct to about the 50% or 61.8% level, but in my experience,...

wavefxacademy Updated 

In my previous analysis I stated where I expected the correction to hit $1825.00 and we did just that and then some. I also shared that we should not rush to place any shorts as we need the market to shift from an intraday bullish to bearish. This decision is the key separator between winners and losers. Currently we are seeing a potential ending diagonal...

wavefxacademy Updated 

Market is contracting just below a key resistance level from an intraday perspective. The trendline support is still strong, which provides added confluence to my bullish forecast. Currently It is safe to say that wave 3 will be an extended wave and once we break above resistance we should see strong momentum. I would suggest to capitalize on this momentum once...

wavefxacademy

Today's price action called for a small adjustment to the price action of the market based on the wave principles. With the breakout above resistance this confirms the original analysis, Let's continue to see how the market develops. Remember, as a trader the goal is to be proactive to the market and not reactive, understanding of this simple concept will make a...

wavefxacademy

When we consider wave principles along with the basic fundamentals of the market, this will take your trading game to a whole new level. In the analysis of Gold we have a number of thing happening. 1.) Price is sitting below a market resistance zone this is an indicator for price to fall. 2.) Price is getting higher but the volume is not reflecting this...

wavefxacademy

My previous analysis indicated a bullish triangle pattern on the daily chart and the market is reacting as expected. Yesterday I shared a completed cycle of wave 1 with the market correcting, now we have that correction of wave 2 completed at the 0.382 fib level and the bullish trend is back. Based on Elliott Wave guidelines, Wave 3 should be very strong and not...

wavefxacademy Updated 

In my previous analysis, I shared that the daily chart was showing a Triangle pattern, which if confirmed I would be looking for Longs on Dollar. As suggested, I would wait and allow the market to provide a clear bullish forecast as the Intraday 1Hr was still trending downwards. That trend change is clear and now let's see how this will play out. As always, feel...

wavefxacademy

I shared my analysis on this yesterday in the inked post. Once the market complete a 5 wave cycle it's only natural for us to expect the ABC correction, and currently we are getting just that. Wave B took the shape of a triangle patten and wave C is developing. We are likely to see a 5 wave impulse move here, but lets not get ahead of ourselves. I have labeled...

wavefxacademy Updated 

As I continue to monitor the progress of Gold, we are closing in on the 0.618 intraday fib level. Wave B took a while to playout and at one point seem to be throwing off the entire count, however, the 1825 target looks like we will achieve it. Now I will be waiting for the market to shift back to a bearish environment to start adding short. Let's see how this...

wavefxacademy Updated 

Market progressing just as expected. Rejection of the Key support level confirms wave b of the correction. Now let's see how the market plays out through this progression. We still have to keep in mind the Daily outlook for Gold could go either way based on the interesting development of the Triangle pattern. You can find the link below this post. Let me know...

wavefxacademy

The market has seem to broken the long downtrend that we've been having on EurUsd. The price action over the recent trading week, has completed a 5 wave impulsive drive which broke the down trend line and even provided a solid retest to confirm. I won't suggest to jump in the market, all guns blazing just yet. After every impulse it's only natural for the market...

wavefxacademy Updated 

Intraday rally for Gold and market seems to be correcting last week's sell off. Let's see how things play out based on the wave analysis.

wavefxacademy

Daily chart shows a possible triangle formation, which would explain the price movement that we are getting from an intraday perspective. Currently the 1H analysis is trending downwards, however, I will be waiting for confirmation of the trend change or a strong rejection from the area of interest highlighted. I will keep tabs on this one and update accordingly....

wavefxacademy

Market is in a very interesting corrective setup. let us see how it plays out in the next few days. Comment your thoughts below. I will keep tabs and make updates accordingly.

wavefxacademy

Hi Traders, here is my analysis on GBPUSD. My method is based purely on Elliot Wave Principles and Price Action. I’ve added a Key to help you understand my POV on the current price action. Confirm Buy: (Once price breaks above, I will be looking for the bulls to control the market.) Confirm Sell: (Once price breaks below, I will be looking for the bears to...

wavefxacademy

Hi Traders, here is my analysis on XAUUSD (Gold). My method is based purely on Elliot Wave Principles and Price Action. I’ve added a Key to help you understand my POV on the current price action. Confirm Buy: (Once price breaks above, I will be looking for the bulls to control the market.) Confirm Sell: (Once price breaks below, I will be looking for the...

wavefxacademy

Initially I assessed as a possible ending diagonal. The market has since then provided a clearer path.

wavefxacademy

The market confirmed scenario A, with Wave 2 ending at 1724.00 Now we can expect the target of 1840 to be a high possibility.