Correctivestructure
CADJPY Breakout; Heading to Weekly HighsFollowing an impulsive move upwards, and now we are in a bit of a corrective structure or consolidation, if you will, we might retest the trendline before continuing to the upside where the previous weekly high was.
GBPJPY Arrives at Major ResistanceWhat should we expect next? Following the game of Probabilities and Possibilities, there is the very likely probability of price going lower, at least to end of the parallel channel. While the possibility of price heading higher afterwards, although just my bias, but it's likely we may head higher over the coming weeks. We're still in an uptrend after all, don't forget that.
Ascending channel formingLooking for that first clear possible rejection within the ascending channel
1st potential reversal point First potential reversal point for GBPUSD keep your eyes peeled for an impulsive move to the downside followed by a correction and then the possibility of even further downside
Sand P Correction Looming?Chart says all. It's a bear rally, struggled to second top climbing up underside of TL, broke below again.
Headed lower IMO. I shorted the rally back to close gap (an incomplete gapfill but got close). Next session might bring a major breakdown.
Of course a reaction rally is always possible; short the rallies.
Not investing advice; trade at your own risk; GLTA!
Bullish long term for EU? Can see real upside momentum wtih EU unless something changes with this Coronavirus and there is a 2nd wave causing the stock market to crash again and the dollar to gain in strength. We shall see what happens
EUR/USD Analysis Hello Traders, here's an update of this pair. Red is sell zone, yellow is potential take profit target.
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Brian Kenya Horton, BK Forex Academy
HYPE3: Wait patiently until the correction is over, then pounce!HYPE3 is currently in what looks like Cycle wave B of (IV). We should wait to see how wave C of (IV) unfolds, and then, buy as soon as we have an indication it is over to ride SuperCycle Wave (V). Since Wave (III) is larger than Wave (I), it is possible for Wave (V) to be huge and an extended wave.
HYPE3 atualmente está no que parece ser uma onda cíclica B da (IV). Devemos esperar para ver o desdobramento da onda C da (IV), e, comprar assim que tivermos uma indicação que ela terminou e surfar a onda Supercíclica (V). Como a Onda (III) é maior que a onda (I), é possível que a onda (V) seja enorme e até mesmo extendida.
EURCHF Correction SetupHello Traders,
Hope you all are doing good!!
Is this the time for correction of EURCHF pair??
1) Pair approaching overbought zone.
2) Pair is trading in the downward channel .
3) Resistance Zone lies above
Risk Point: Price failed to make lower LOWs in the earlier swing on Weekly Timeframe.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position.
Looking for a sell set up Price is really struggling to push higher and forming an ascending channel, with the corrective movement i really am expecting some downside momentum to kick in
EW Analysis: Silver Is Pointing Towards 2019 HighsHello traders!
Today we will talk about Silver and its price action from Elliott Wave perspective.
Metals are in an impulsive rally, especially Gold, but since March, Silver is doing much better if we take a look at the GOLD/SILVER ratio, which is now turning bearish and there's actually room for more weakness after recent corrective slow down. So, it means that Silver may continue to work better than Gold.
Silver is in the strong uptrend from the beginning of March and it's ideally unfolding a five-wave cycle back to the 2019 highs, so current slow down can be just a temporary correction in wave 4 before we may see another leg to the upside, probably final 5th wave that can send the price up to 19 area.
In the 4-hour chart we are currently tracking a bullish triangle within wave 4 that can be approaching the end soon, so a rise into a 5th wave can be around the corner.
Be humble and trade smart!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
