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Elliottwaveforecasts

Next Plan DXY ( US DOLLAR ) 26/04/2021Here is my analysis of DXY ( USD ). In my opinion, DXY already completing full cycle 5 waves and A B Correction phase. And right now DXY making an impulse downside movement. In my waves counts, DXY almost reaches 5 waves and will make the 2nd wave which is the wave retracement. I expecting DXY retracement will making a Head and Shoulder pattern. If this happens it will be synchronized with my analysis in EURUSD and GBPUSD that I posted before. Cheers :)
TVC:DXYLong
by ArceeBlade
CADJPY, 4hr tf, double top pattern in play Previously i managed to took profits on this pair for +105 pips when i first call to sell it on Tuesday. It is now retracing back up on a nice point to enter sell again after yesterday BoC meeting. As you can see there is a double top pattern in play and we might see another drop soon on this pair as risk off sentiment and oil price on the verge off dropping. Sell CADJPY 86.40 Stop loss 87.00 Take profit 84.40 (3.3R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
GBPUSD, 4hr tf, double bottom reach 1st targetHello my friends, On April 9th i saw a potential double bottom of GBPUSD mirrorring XAUUSD chart movement. I posted about my buy position and stop loss. Two weeks later and price has reached our first take profit. For those who missed this chance, i am gonna share my second plan for buying GBPUSD. I think we will see some retracement first before continue going up in this pair. I will wait for price to retrace towards 1.3850-70 area to initiate buy order. Buy GBPUSD 1.3855 Stop loss 1.3800 Take profit 1.4040 (3.3R) Use only 1-2% risk Good luck
Long
by HayatoDragonFX
CADJPY, 4hr tf, more downside expected on wave-CAs you can see we're on ABC correction after completing all 5 waves. The B is a triangle and we might see another 5 smaller waves to the downside. You could also see that pattern as descending triangle or bearish flag, it is up to you how you see it but it should be clear as bearish continuation pattern. Wait for price retrace around 86.70-75 before entering sell. Sell CADJPY 86.75 Stop loss 87.15 Take profit 85.05 (4.25R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
😨Fear comes. Gold is back in vogue.🥇●● Mine scenario 🕐 1M FX_IDC:XAUUSD Until recently, the main scenario was the count presented below on a dark background, but after weighing all the pros and cons, I chose the already formed triangle ((B)) of I . And in general, both counts suggest an ending diagonal of a degree lower, followed by a pullback, based on the depth of which we will build further plans. 🕐 1D OANDA:XAUUSD I expect the growth of the third wave within the diagonal ((C)) of I . ●● Alternative scenario 🕐 1M FX_IDC:XAUUSD As an alternative scenario, I propose to consider the probability of the formation of a wave ((B)) of I in the form of a triangle with a wider boundary. 🕐 1D OANDA:XAUUSD On the daily timeframe, the current count is identical to the main count and assumes a resumption of growth in the near future, except that the goals are slightly more modest. "Gold is the time-honored store of value, and although the price of gold may flatten for a long period, it is always good insurance to own some until the world’s monetary system is intelligently restructured, a development that seems inevitable, whether it happens by design or through natural economic forces. That paper is no substitute for gold as a store of value is probably another of nature’s laws". EWP2005 The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
OANDA:XAUUSDLong
by TradeWaves-EWA