Hello Traders, As expected last week EurUsd fell to support zone of 1.1215 to 1.1200. Still this pair finding strong support to surge upside. As per my Wave count still EURUSD trading on short term corrective wave of B. This Wave B find support @ 1.11180 to 1.1160 level.
You can draw your "yellow" B wave as a WXY, trendfib it, and you double bottomed at equal length. You can count 7 swings. When you examine the trend line touches of structure, it can count complete. If you invested lower down, I would say it would be worthy the gamble of letting run. Notice the "0" level lower down. The stock has been working on this pattern a...
This may be 1 of 2 most probable pathways....either we see a simple ABC or and expanded diagonal/triangle consolidation. based on the "law" or guideline of alternation: MORE LIKELY that it is not a simple ABC and in fact a larger ABCDE correction forex-indicators.net Alternation The guideline of alternation is very broad in its application and warns the...
UMEX is currently breaking the trend line. It is in the zone. Notice that the .764 extension breaks previous high. We It is in a strong uptrend currently but can reverse at any time really looking at the price action. I marked some potential levels for limits and targets. This is a weekly swing. The idea would be to get a correction breaking trend line. If it...
This is the daily. Diagonal seems to be in a wave 5 position of a "C" wave. Emex seems to be holding at the 27% extension of first wave (high came off the 1.382 trend fib extension). Both Umex and Emex are showing "B" wave corrective structure. And I would not be surprised to this diagonal double top (See USOIL). It broke bottom trend line and pulled slightly back...
GN rejected pitchfork as it broke 1.236 extension of a potential WXY pattern for a "B" wave. It either did a contracted flat for more upside or it is still in corrective structure. By looking at the divergence and 2 shark fins on the weekly, I feel like we can get some downside. The move it has been making up is a corrective move (all waves overlapping, following...
If you did not already get the first sell level I posted, or if you are in it... Watch out for an ending diagonal which would measure out perfectly to the 1.236 extension. From there, we may get a head and shoulders or flat type structure which could then turn into a WXY structure for a complex "B" wave. I suggest you watch the short video I posted on my channel....
GN is at overlapping trend fibs, pitchfork, and at a spot in the pattern where it could make a "C" wave to break the trend line. It is over extended and showing divergence on all time frames, on TDI and bollinger bands except for the monthly. It is possible that it did complete a contracted flat pattern and is on its way up considering how this wave looks though....
I see audnzd to be on its "B" wave. Considering everything, I think it would make a lot of sense for this pattern to make one more up, possibly to break trend line and then downside. I think that would complete this small corrective wave it is on on the daily/4hr. If it follows that structure, that should mean nice sell upcoming. Then considering the pattern,...
The weekly and daily are both way over extended. It is also way over extended from monthly bollinger bands (see TDI turned into price currently here on monthly). We can get a running flat here, but if it goes down to break the low that could take us to the 13.00 level possibly. At a potential reversal spot now. But keep in mind this is the monthly chart.
Refer to daily chart I posted. Cad/Jpy can continue an uptrend. I'm still holding the buy currently from much lower down. But it seems to be in an "X" or "B" wave position and has been going up looking very corrective. My point is this: If it was to come down from this area, we could be getting a further corrective swing pattern which would be coming back down to...
Echf coming off .618. The truth is, I have no idea how the pattern will play out, but consider the measurements of that 3 wave I expect further corrective structure to develop upward. I circled that pattern to the left just to show you one possible way it can do it. Maybe we are just looking at a running flat and it continues up, to break the high. I just don't...
At this point we simply measure and count out to have a double combo pattern for a "B" wave. I said I would prefer to see Uchf retest zone. It did and I circled where the "Real" sell setup was. The thing about trading these combo "B" wave patterns is you have to understand the possibilities and time your entries properly. Can it correct and go up more for a triple...
Ncad appears to be producing a buy setup. The sell long term (on the weekly) is what you want. Cad is looking like it may retrace. Should Ncad continue to breakout and continue to produce buy setups we may get something that goes all the way up and breaks the high and possibly breaks trend line. Remember that it never reached. I believe it completed a corrective...
I feel at this point, considering the overall pattern and price action along with the fact it has been holding at this angle, EG will go up to break the high. I'm considering this whole move to be a complex "B" wave. It is possible it corrects in a 3 wave fashion before it goes (See marker drawing) but it doesn't necessarily have to. I feel like we need to at...
Looking to complete the B Wave of a Flat Pattern on the Weekly
BTCUSD update: After retracing to the swing low of 5365, price appears poised to retest 6k again, but what to expect from here? I wrote in my previous BTC report that this market has more bearish signs in light of the Elliott Wave count, but after this bullish swing, the count may be thrown into question. Is this market nearing the peak of Wave B of 4? Or is this...