Crude Oil Movement | March | 2017Corrective Wave coming but when, cant say, but is surely coming for corrective wave.
Correctivewave
GBPUSD OUTLOOK AHEAD OF NFPHi Everyone,
GBP.USD showed some range bound trading on last month. From starting of this month Pound weakness we can clearly see till to the date. This week Friday NFP only going to change its direction until that i am in sideways to downside on GBP.USD.
Pound enters into major support zone, but price action shows Pound gng to fell deep into the support zone.From 1.2150 level only we can expect reversal.
Elliott & Harmonic OutlookMedium Term Bullish
Long Term - Bearish
3 Bearish Harmonic Patterns are emerging, which are :-
1-Gartley
2- Anti Nen Star
3- Anti Alt. Shark
I Think currently there may be a bearish correction within the bearish dotted yellow channel . Long entries can be placed on the breakout of that yellowish channel aiming the targets at which point D of the harmonic patterns is reached . The first minimum target is at the completion of the Gartley Pattern
After the completion of the harmonic pattern , look for selling using any confirmation tool such as oscillators divergence of volume spread analysis , etc..
Elliot wave counting is indicated showing that , bullish wave c of a corrective ABC structure is being in progress . Currently , the bearish wave 4 maybe in progress , and we are waiting for the bullish impulsive wave 5 at which wave C of the corrective structure completes
GBPUSD WAVE ANALYSIS This is a long term analysis with two possible scenarios ,
Bullish or Bearish sentiment is shown by arrows and the breakout of a certain corrective structures and channels as shown in the chart .
All you have to do now is to watch and wait for your entry trigger
XAUUSD WAVE ANALYSISLong term gold technical analysis .
the green horizontal line is a critical support . Breaking it down then retesting it would be a sign of a strong bearish move. .
However, The break up of the red triangle would be a sign for a bullish move to complete that corrective abcde structure in which you can go long after the break up of those correction patterns that maybe formed whatever they will be !!
if price break up the red triangle and couldn't far to point e and then went down and broke the line horizontal green support , that may indicate the beginning of a strong impulse wave 3 in the down direction in which the targets will be calculated with respect to the five waves formed in the red triangle which will be then all combined equals wave 1 of a bearish market Elliot wave !
Bearish Inverse AB=CD Bearish Inverse AB=CD
Oscillator Divergence in both RSI and Awesome oscillator .
The blue uptrend channel forming the BC leg was down broken indicating shift in the bullish trend to the downside .
The downside breakout of the bullish blue channel forming the BC leg is tested by a wide range up bar closing near the middle and with a low volume indicating sign of weakness for the uprising market .. More volume spread analysis test bars should be waited to confirm the next bearish movement .
Elliot Wave Analysis - Medium TermWe are currently in a bullish correction of wave 4 which can be a Flat correction or ZigZag
The breakdown of the green line confirms the end of bullish correction of wave 4 . A short entry is possible after the breakdown of that green trend line to the target of wave 5 shown in the pink circle
The correction of the current wave 4 can go up to the 2.618 red fibo level which intercept the upper red line of the current main bearish channel which seem to be a Diagonal Pattern
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USDCAD CORRECTIVE BUY SETUPHi Every one,
USD.CAD chart we can clearly see ABC corrective structure. On intraday basis we can expect further downside upto 1.2940 level. This level act as possible wave reversal level for this corrective structure.
reversal date 27 / 01 / 2017
USDJPY CORRECTIVE BUY SETUP Hi Every one,
USD.JPY possible reversal corrective setup is forming. In Intraday basis USD.JPY weakness should continue upto 112.15, we expect possible reversal from 112.15 level.
Possible reversal Date 27 / 01 / 2017
Looking like another continued correction! Hi traders, correlation with NU. This appears to be making a continued correction.
Thumbs up if you agree and comment with feedback! I look forward to talking to you!
Expecting double Zig-Zag. Let's see how price breaks down!Happy new years eve traders! (my time in Chicago)
As you all know I've been staying up to date on my ideas taking them piece by piece as they develop. The chart explains what I'm thinking, and other than that... ITS TIME TO PARTY!!! I hope you all continue to kill it in 2017!
Give me a thumbs up if you like the idea, comment with what you are thinking, or just to say wasssssup! Trade responsibly ;)
GBPAUDVery easy pattern recognition here. Lets see if we get another move down before breaking out of our trend continuation pattern.
MONTHLY OVERVIEW IN USDCADHi Guys!
In the Palm Traders team we are looking for a big sell in USDCAD due to this Primary Cycle.
We are going down from where we think it's the ending of a primary corrective structure (ABC).
We had a reversal and now a flag consolidation, so we will be paying attention to smaller timeframes to enter a short position and get a few hundred pips!
Carlos
ENDING DIAGONAL BROKEN IN CADCHFHi Guys,
Here we have a perfect Elliott Motive Wave in which we founf a Fifth Wave Extension, considered as an Ending Diagonal.
The extension is broken and has formed a flag, so time to sell!!
Carlos
Long Possibility on NZDCHFWaiting for price to complete this corrective pattern before entering any trades to the upside.
Correction I am expecting for price to go down to 161.8 extension and 61.8 fibonacci retracement and bounce back up for impulse wave
Bullish On Short Term - Bearish on Long Term The Index seems to be forming an WXY Corrective structure
