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Correctivestructure

AUD/JPY Shorting Opportunities AUD/JPY Selling opportunities presenting itself on this pair with a larger timeframe corrective channel. By using the three touch method, we can project some exhaustion before a move downwards. A few points of confluence are as follows: - corrective nature which has happened historically - three touch method at channel highs - previous area of market structure is where current price action sits - slow in momentum at current resistance zone, showing sellers creeping back in This is my take on AUD/JPY for the start of 2020. Happy trading folks!
Short
by JRonaldTrading
1
Resistance On Crude Oil Is Support On USDCADHello traders! Today we will talk about Crude oil, USDCAD and their negative correlation in the market. As you may already know Crude oil and USDCAD are in tight negative correlation, not tick by tick, but they are mostly in the same shape, just inverted. Well, want we to point out is that correlations are very important to get the right approach to the markets. And, if you combine them with EW and some other technical tools, then sometimes can be much easier to recognize the pattern and direction. Let's dig into the charts. Crude oil can be forming big triangle and now when it's trading nicely within a corrective channel and right at the upper triangle line and potential resistance, we wonder if it will break up or it will turn down. But, if we take a look on USDCAD, from EW perspective we can see quite nice bullish formation that can send the price at least towards the upper triangle line. So, if we consider all the evidences, then the next move should be down for Crude oil and up for USDCAD, at least into the projected minimum target area, if not even further. Trade smart and wait for confirmations! If you like what we do please like, share and follow us. 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.
TVC:USOILEducation
by ew-forecast
1
Elliott Wave View: SPX Correction in ProgressShort term Elliott Wave view on S&P 500 (SPX) suggests the rally from August 6, 2019 low is unfolding as a 5 waves impulsive Elliott Wave structure. On the chart below, we can see wave 3 of the impulsive move ended at 3155.32. Wave 4 pullback is currently in progress as a double zigzag before the rally resumes. Down from 3155.32, wave (a) ended at 3110.78 and wave (b) rally ended at 3124.53. Index then resumes lower in wave (c) and ended the zigzag move at 3070.33. This zigzag move also completes wave ((w)) in higher degree. Index should now bounce in wave ((x)) to correct the decline from November 28 high before turning lower again. As far as pivot at 3155.32 stays intact, Index has scope to extend lower to continue correcting in wave 4 as a double zigzag. Wave 4 typically ends around 23.6 – 38.2 Fibonacci retracement of wave 3. This area comes at 3040 – 3084. The Index has already reached 23.6 Fibonacci retracement at 3084, so technically it has met the minimum requirement to end wave 4. However, we are still calling a double zigzag in wave 4 as far as rally fails below 3155.32. If pivot at 3155.32 gives up, it suggests the Index has ended wave 4 as a zigzag, and Index then would be already in wave 5 higher.
TVC:SPXLong
by Elliottwave-Forecast
2
EW Analysis: Cable Can Be Forming A TriangleHello traders! We have noticed an interesting pattern on Cable (GBPUSD). It's a corrective triangle consolidation, which is also a continuation pattern that usually occurs either in wave (B) as part of a correction or in wave (4) as part of an impulse and as you can see, in our case it can be as part of wave (4) that can send the price into new highs for wave (5) at least towards first target 1.3200 area or maybe even higher towards 1.3600 second target in case of an extended waves, but we always consider minimum expectations and if goes higher then even better. From a technical perspective you can see that it's nicely trading within an Elliott Wave channel and right now is sitting at the channel support line, so we would not be surprised if we see GBP rally soon, especially because a triangle could be already finished since we noticed the final wave E of (4). However, triangle might still be even more complex and sideways, so to confirm our view the price needs to break above 1.2985 region, while above 1.2820 invalidation level. If you like what we do, then please like and share! Trade well! 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.
Education
by ew-forecast
1
ORBEX: EURUSD - Are We Going Lower After Minor 4's Completion?It looks like the corrective minor wave 4 has ended a tad above the strong 1.1025 resistance, taking our breakeven stops. The recent attempt to push prices higher is most likely done for now and fresh lows could be expected. Minor wave 5 is expected to end below the most recent low of 1.0880, where intermediate wave 3 will also see its end. The intermediate wave 3 is part of the primary A,B,C zigzag with waves A and B at 1.13 and 1.1816, respectively. C will finish this correction with an intermediate 5. The minute upside correction is part of a bullish flag which could have prices sliding down to 1.07/1.06 medium-term This opportunity would be invalidated above 1.1063 in the short-term, but in the medium-term, we could see an upside completing a deeper correction closer to minute wave 1 low near 1.1195. A break above the latter would most likely invalidate bears in the longer-term. Stavros Tousios Head of Investment Research Orbex
Short
by Orbex
USDTRY possible running flat as tension rises In the Dollar & Turkish Lira pair we could potentially have finished a running flat abc correction (in a running flat the c waves doesn't reach a new high or low point). Its still to early to say whether we have broken out of the structure to the upside but this pair should definitely be monitored, as a new impulsive move to the upside could be in play. Trump already announced he would "destroy" Turky economically if they proceed with their actions in Syria.
by JonasBenjaminFriedrich
1
EURGBP SA L O H A - Have been watching this for about a week now and momentum has finally picked up. Currently in a tight bear flag heading downward. Impulse early morning while Hawaii traders were asleep, did not set an entry order but okay as the market always corrects. This is a nice potential entry I am eyeing out at the break of the structure or at the top for a double top, scoop within the 15m/1hr time frame. Bears are kicking in so not looking for any longs for a while. Headed to bed now, will set an entry order and see what happens. Have a great night and may you have a profitable week! Mahalo. What do you guys see?
Short
by Reid_Hicks
Potential Shortswing coming in USD/JPY keep on WLA interesting setup with a good chance to risk ratio could play out in the USD/JPY. I expect this pair to be in a corrective channel making a 3-wave corrective structure to the upside. Once we reach the highlighted target area the pair should be observed more carefully. Please dont make an entry blindly there needs to be confirmation in the smaller timeframes as well as in the price action. As of now its just something for the WL.
by JonasBenjaminFriedrich
DAX with 3 Wave Pullback as postet, could come to end soonAs analyzed the German Index made the expected 3 wave pullback to the upside. However the overall picture remains bearish in my count. There is still little bit more room to the upside maybe around 12200. The index should now be watched carefully however since we are potentially in the final stage of a 3-wave corrective completion after which I expect the downtrend to continue. (Note this setup is valid as long as we dont make new highs over 12500)
TVC:DEU40
by JonasBenjaminFriedrich
Higher Targets On GoldI am waiting for an entry to confirm the long for my target to 1590. As things stand now, price is trading below the resistance of the corrective structure. It is possible that there will be a 5th wave to the downside before the break to the upside. Should the break of the structure occur now, I will trade the long to 1590. Should the price retrace for the 5th wave first, I will begin scaling into a position at the break of the low of wave 3 Happy trading! Linton White JP Markets South Africa
FX_IDC:XAUUSDLong
by Linton_White
1
ORBEX: EURCHF - End of Correction Hints to Further DeclinesIt looks like the corrective subminute wave c of minuette wave (ii) might have ended at 1.09425. As part of minute wave 3 of minor wave 3 we can now expect prices to move lower short, medium and longer-term with short-term declines reaching minuette wave (iii) near 1.07836. The current correction is likely to end as a zig-zag pattern a,b,c with subminute wave c potentially ending at the 100% FE at 1.09425 or slightly above. In case prices move above 1.10 we should still be looking at this turning lower. But a failed rejection would add uncertainty and potentially an invalidation of the current structure. The current structure suggests that once this correction is done with, prices could continue lower to complete the fifth minuette wave at 1.07550, where minute wave three would also complete its run. We could look for short-term sells and then a pullback to complete minuette wave (iv) near (i) low . Invalid above 1.1018 Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
Short
by Orbex