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Elliott Wave Analysis: USDNOK Is Unfolding Three-Wave CorrectionHello traders! Today we will talk about USDNOK pair, its price action from technical point of view and wave structure from Elliott Wave perspective, as we see quite clear pattern. USDNOK made a five-wave bullish impulse from the lows, ideally as part of first leg (A), which has been followed by a three-wave A-B-C setback in wave (B). Well, now that is breaking back above channel resistance line, seems like wave (C) is already in progress, which can push the price up to 9-10 resistance area before bears show up again. So, be aware of more upside in upcoming days/weeks, just be aware of short-term intraday pullbacks. Trade well! If you like what we do, then please like and share our idea. 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.
Long
by ew-forecast
3
USDJPY I Further Correction to Support AreaWelcome back! Please support this idea with a LIKE and COMMENT if you find it useful. ***** following the daily/weekly impulse, price has now started to correct. We expect further continuation to the downside towards previous resistant/support, somewhere between the 50 - 618 fib level (which also aligns with the support zone provided). Be sure to follow the entry criteria rules for your strategy and keep this on your watch list! - BKH
Short
by BKTradingAcademy
Elliott Wave Analysis: SILVER Is Finishing Expanded FlatHello traders and investors! Today we will talk about silver, its price action from technical point of view and wave structure from Elliott Wave perspective. Well, we are tracking two different interpretations on silver, but what is interesting is that both scenarios are bullish. This is definitely very important for investors, while traders should be patient. As you can see, we are tracking a big A-B-C irregular expanded flat correction, where wave C looks to be ending diagonal (wedge) pattern, the only question is either wave C is finished or still in progress. Now that silver is trading at September highs, we still have to be aware of a retest of September lows and 21-20 support area, but any strong continuation higher towards 26 area would be definitely signal that ending diagonal within wave C is completed and bulls back in the game. All the best! If you like that we do, then please like and share our idea! 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.
OANDA:XAGUSDLong
by ew-forecast
1
2510 Wkly Outlook GBPJPY support up again from wkly supportHello traders, GBPJPY did make some small range pullback last week. But it found support again. This time, it could make a double test of gold dash resistance zone first. And new plan for breakingout or correction would really depend on the price action hitting that dash line. We would expect no selling plan before any strong double top pattern. 160 WOULD HAPPEN AFTER BREAKING OUT DASH GOLD LINE. Good luck on sideways price action first. LESS IS MORE!
Long
by FUNTRADER-Vera
AUDCAD It will rise upward Welcome back! Please support this idea with a LIKE and COMMENT if you find it useful. ***** Buyers have taken charge and managed to push price beyond rejective resistance 9200 zone. After a strong bullish impulse, we now have price rejecting off the 50% fib with a bullish flag formation. All signs point upward for another bullish wave/continuation. Where do you think AUDCAD is headed? Let us know your thoughts in the comments! Be sure to follow the entry criteria rules for your strategy and keep this on your watch list! - BKH
Long
by BKTradingAcademy
CAD/JPY Analysis - B Swing AlertWelcome back! Please support this idea with a LIKE and COMMENT if you find it useful. ***** Price is currently re-testing/rejecting Monthly resistance last tested Nov. 2015. Very strong supply zone, impulse on weekly and due for correction, and all B-Swing entry criteria rules have been satisfied for those who use this powerful strategy. Apply the fractional risk management method and use to your advantage. Comment below if you have any questions. Be sure to follow the entry criteria rules for your strategy and keep this on your watch list! - BKH
Short
by BKTradingAcademy
1