Short at Wave-(ii) through ((c)): #elliottwave #ewHey traders, I like the bearish impulse we're seeing here out of the channel breakout. Bearish channel support is a nice place to short. Good reward/risk if the price action is right. Cheers
EW
AUDNZD EW: Potential Zig Zag Short Opp.The pair has broken and re-tested its channel. The bearish impulse nods toward a potential zig zag with a nice risk to reward.
EURNZD Wave Count: Bullish Impulse ContinuationHey traders, I like the bullish impulse on the lower TF going into this Friday morning. If bullishness continues, there is a chance for a 400+ pip move to the upside. If invalidation level is broken we could see a continued sideways movement for a few more days. I like the odds enough to attempt a long here. Cheers
Need an Oracle to decide which way!Possible double top, 4th wave triangle or push through
The Fourth Wave Conundrum and Pseudo-certainty in play.
Nothing is for certain in this instrument. It's therefore not an object for investment right now.
Does that mean the analysis is in vain. NO!
It gives us the opportunity , when uncertainty is resolved we will with high probability know what will happen and the we invest.
The options:
Double top and 19'ish as target,
Triangle wave 4 for a while,
A push through and a possible EW target of 55'ish for the 5th wave - Harmonic target is a little higher. If this 3rd option play out we would also see divergens eliminated. But the instrument is now in overbought territory .... so on the edge.
Stay Sharp on Charts at:
The WALLST Scalper
USDCHF: Elliott Waves suggest that wave-3 will ignite soon!!According to my analysis, USDCHF is very close to end the correction on short term basis. Current Elliott Wave outlook suggests that we are going to have a sharp rally happening very soon all the way up to 1.13000 price handle. Current price is good to enter but Stop-Loss point is very far at 0.95500. The R:R is still good but conservative trading is what I prefer which means we should get waves-i and ii of wave-3 in place on lower degree to get the best R:R ratio.
I will update the chart with detailed Elliott Wave labels plus SL/TP targets as soon as the price action confirms.
Guys remember that its gonna happen only if my analysis is correct!!
I wish you all very profitable trading...
AUDUSD Wave Count: Selling Next ImpulseWe have a potentially completed triangle on the longer timeframe and a few consecutive bearish impulses coming off of it. I want to sell the next one if it should occur. Keep an eye on the 500 level near support for a potential target.
AUDJPY 4H Choppiness: Look for Harmonic PatternsThis sideways corrective structure on the 4H makes for great entries into harmonic patterns on 15m and 1H charts. Look for upcoming patterns such as the butterfly and cypher as shown. There will likely be more presenting themselves as the week plays out.
AUDCHF Wave Count: Channel Breakout + RetestNot a very clear picture being drawn on this pair as we have a few factors playing for both bulls and bears. I'll be waiting on the sidelines for either a triangle breakout or further drop past the dotted S/R level.
GDX - Trend Reversal in Miners To Start SoonThe current drop has many investors thinking that the long term correction in the miners is still ongoing. However, the current price movement is playing out more as a short term corrective wave (ii) of a larger degree wave 1 that should take us above $30 sometime this summer.
I am currently expecting a bottom to be reached somewhere above $20 before the resumption in the bull trend. While a drop below $18.60 would invalidate the count and have me reassess the outlined pattern, it looks less likely to play out at the moment.
EURAUD Elliott Wave Count: Falling Wedge on 4H = Buying Opp.This pair has completed a potential falling wedge. Until the first bullish is confirmed with a subsequent more powerful bullish impulse, however, it will be considered an aggressive long. I like a small aggressive position near the completion of an A=C zig-zag and a larger position at the conservative confirmation level. Keep in mind, though, that a drop below invalidation will likely mean a hard continued drop. That's what makes this level a great area for a protective stop. Entry will be confirmed with a follow-up idea.
CHFJPY Elliott Wave Count: Breakout May Start Double Zig-ZagThis pair, like other JPY pairs, is in the midst of a short rally while we wait for volatility to return to the market. When it does I'll be looking or opportunities to buy the yen. I will only be pulling the trigger on this on a confirmed breakout. If and when wave-(A) completes, our best move will be to sell the (C) wave toward further dropoff. The next London and US sessions will likely provide us with critical indicators of continued direction.
CADJPY Elliott Wave Count: Symmetrical Triangle on 4HAfter a powerful bullish impulse ending in late 2016, we've seen the pair basing sideways in a series of corrective waves. This month (February) has shown a symmetrical triangle forming on the 4H which could signify the end of the correction if the pair breaks out from wave-(E). Outlined on the chart is a potential move. I would like to see the pair rally so that I can sell through wave-(E) before looking for indications of a powerful continuation of the 2016 impulse. For the time being I will be on the sidelines watching. Stay tuned for updates
AUDJPY Elliott Wave Count: Short through Wave-((C))AUDJPY is basing on the hourly chart after a strong bearish impulse last week. Based on the recent completion of wave-((B)), I have strong reason to believe that this drop will continue through next week. I will be waiting for a breakout in order to ride it downward. Updates to come...
EURUSD: Favorite pair of traders has some Shorting opportunityThe Elliott Wave outlook is showing some opportunity to short EURUSD soon. Triangle looks completed. There is a minor chance that wave-E of triangle is underway but since Alt:wave-D has violated the Elliott rule by passing the end of wave-B by a few points, I believe this is wave-i instead of wave-D. Lets see the price action in coming days and weeks. Remember that the Elliott-Triangle always precedes the final move of a trend so most probably Euro will rise after completion of this bearish move.
Please keep an eye on comments below to see my updated wave counts and alerts.
Thanks and Happy trades :)
[Update] Crude Oil Elliottwave CountFundamentals still intact and with the release of OPEC monthly report strengthens the idea to go long in oil
Disclaimer*
All ideas published here involve risk and does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Crude Oil Elliottwave Countbecause of some oversupply in oil inventories, reviving of shale oil and increasing drilling activity in US. I expect some downward pressure for crude oil before a raise in price due to OPEC's plan to cut down supply to raise oil prices.
Disclaimer*
All ideas published here involve risk and does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
EURUSD: Expect price movementHi traders,
On this EURUSD chart we can see my expectations based on the Elliott Wave count.
I expect a retracement back to point B and from there drop to point C.
Cheers
GDX - Miners on the riseThe miners are following the same bullish pattern as gold and silver, having resumed the bull trend as a wave 1 of an extended wave (3) which should take us to $30 over the next couple of months and very likely north of $50 over the next year.
A drop below $18.60 would invalidate this count, though it seems unlikely given the current setup.
