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AUDUSD Weekly Outlook 5th November 2017 NFP on Friday saw the Pair push lower again back into the Monthly key level. We can still see signs of rejection in this area which shows it still has some potential to reverse from this level. We have had an ABC pattern complete, we also have a 0.618 fob in this area which gives us the a,b legs of another potential move upwards. On the Daily we are in the area where there could be a further push down to test this area or reject will wait and see how the market opens but with the cross of EMA's on the Monthly chart this could just be a corrective move before we move upwards
Long
by Wonour
SC Analysis and Movements at its BestThere is support at 0.00000690 if it breaks that it will go down and Resistance at 0.00000738 if it breaks that it will move upwards wait for entry points and enter the trade it looks good for the week could move to 0.00000815 if it breaks 0.00000738 and if it breaks that we can go to moon (I expect a Move upward in the next couple of days ) All is in the Chart Explained if anything please mention in comments These are Analysis i am displaying for you to make better decision Trade at your own risk and be carefull to put stop loss at 0.00000680 Best of Luck
by moneymunshi
21
Crude oil big drop comingThis is the top because the final push provided liquidity for the large institutions above an obvious resistance level. They turned the sellers at resistance into buyers on that final leg up. I was selling at that level too, but got stopped out before that big push up. They quickly dropped prices back below that resistance level so those same sellers will have to chase it back down because they were right in the first place. I know because I experience this and also shorted below the pit close level. I think price will drop back down to that red level and bounce back up to form the right shoulder of a large H&S pattern. Price will most likely make new lows as the big players will keep pushing. This little rally was just a stop hunt for the guys who shorted on a monthly break below last month's low. My long term target is $20 and expect to reach that level by the end of this year.
NYMEX:CL1!Short
by EliteTrader101
Crude oil analysis and LevelsToday should have been an easy day to go long at the Inventory level, but they whipsawed me out a few times so I gave up just before the big move to my target. The target that I marked up was from my MT4 Oil chart which looks different from this oil chart. The Mt4 oil target was hit, but this target was not so I recalculated where the target would be using this chart and it was also hit, but it was at a lower level than the MT4 chart. I will look for a W pattern at one of my levels tomorrow to go long and this time I will use a larger stop so I won't get knocked out so easily. We had 2 levels of rise and am expecting at least one more on Short squeeze Fridays. It is a lot easier to be an analysts than a day trader as I had perfect levels but still ended up with a lose today when this is one of the safest longs to take. I will update a more precise target tonight
NYMEX:CL1!Long
by EliteTrader101
Crude Oil ForecastToday was a tricky day during inventory news. I was short going into the news with profit, and thought that the news would blast through the 50% fib level. Stop placement was too far away and took a big hit. Its a lot easier to be an analyst than be a trader during the live markets. As you can see, oil traders like using the magic number 3 at key levels. My levels are pretty accurate, but deciding what to do during live markets at those levels is another thing. Two scenarios for tomorrow with 2 possible targets. Price may drop to my target and bounce higher towards the upper target or price may drop down to the lows again and continue the downtrend. Have to wait for the 30min to close to decide what to do at these target levels. One of my targets are reached about 80% of the time. It looks like the break below the previous months low may have been a trap and we could see higher prices by friday for a close above the weekly support / resistance level
NYMEX:CL1!
by EliteTrader101
3
NIFTY ELLIOTT WAVE ANALYSIS _ INDIAFrankly, I could come up with a variety of counts for the market right now. About 4 counts say that the market has reached a top and we should be ready for a minor correction till July and then prepare ourselves for a bull market again. Analyzing the expanding ending diagonal proved to be tough. We could go up to the resistance zone indicated by the box and go down till minor wave 4 of wave 5 or make a new high till the extension of the top trendline of wave 5 and go down all the way. Final Conclusion: We will go up for a week(7-8 business days) and then head all the way down to 7750. Be prepared to take shorts when you see an opportunity.
NSE:NIFTY
by Elliottician
10