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Gold correction nearly endedGold was in rally almost all the month, but according to Elliott wave count it is in the corrective wave of 2. It can be deep correction and even the double top could be done here. Now it is at the last minor Fibonacci retracement level of 88%. Trade idea: 1. First position will be taken as the reversal confirmation from price action, reversal bars or reversal pattern in 4 hour time frame is found. 2. Second position will be taken if first one is taken and unfolding in positive direction, 4 hour first continuation partern is unfolded and ended correction, and If continuation bars will appear.
FX:XAUUSDShort
by venckusarunas
2
Euro Bund will we get into correction?We can talk about all fundamental factors and how they can effect the bond prices and so on... But this monthly chart look like traditional Elliott wave pattern from the book. Now we see major impulse pattern have finished the 3 (blue) wave and shown first corrective wave. If the ECB will make unexpected moves it could force the last corrective wave down. There is support zone at the price 148.00 which is near Fibonacci retracement level 23.6% and price 135.00 near Fibonacci retracement level 50%. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website. Best wishes for new incoming trading year! ;)
G
by venckusarunas
SP500 is in possible corrective pattern?In case of China stock market sell offs, world economy growth slow down (except US) and unstable geopolitical situation in North Korea, Syria, Ukraine, Turkey and others are filled with fear and insecurity. This cause the money flow into more secure assets. And it is hard to say when those unstable factors will fade away. SP US stock index reached end of the impulse pattern 3 and now is in the corrective pattern with in the wave 4. The strong close support level is at 1800 price level in confluence with Fibonacci 23.6%. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website. Best wishes for new incoming trading year! ;)
FX:SPX500
by venckusarunas
Gold falling pattern near end?As the worlds eyes of fear still focused on China slow down - Gold could have lots of volatile and sharp spikes as it suppose to be safe place for the money as stock markets experience sharp sell offs. But slowing production growth mainly in China reduces demand what can influence further Gold price dip. The market reached price level of 1921.24 in 2011-09-01 and reversed down into the Elliott wave impulse pattern. Now the last wave 5 is unfolding as the falling wedge pattern. Price is close to strong zone of 1040-1000 in the middle of the Fibonacci 50% and 61.8%. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website. Best wishes for new incoming trading year! ;)
FX:XAUUSD
by venckusarunas
WTI - where is the bottom?WTI oil is in strong strong down trend as fundamental from OPEC and others pump oil into over supply. Companies fight for the market share and survive and battle conditions seems to be the same for a while. This fundamental view is supported by Elliott wave impulse pattern unfolding down into the last wave 5 (brown). This impulse pattern is the last wave C (blue) of the bigger corrective pattern. Now price is at 2009-01-01 low 32.00 which worked as strong support last time. And the second support level at 26.00. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website. Best wishes for new incoming trading year! ;)
FX:USOIL
by venckusarunas
2
USDJPY near cycle end?We can see possible pivot zone at price 111.5 almost matched with all time high and low Fibonacci 50%. It is like the magnet and support / resistance for the price. If we take the distance between previous major highs the ongoing time period of same 106 month going to an end in 2016-04-01. Market is not always unfold into same length periods, but we can see some symmetry in price and time on this chart. As the possible reversal or beginning of the correction is the possible end of Elliott wave impulse pattern with in the wave (5) end at the strong resistance level at round price level 125. In the fundamental perspective Japan have difficulties with economy growth and deflation as in the other hand US show steady growth. What suggests that past drops in price is just short term market fear sentimental correction and further continuation upside could follow. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website. Best wishes for new incoming trading year! ;)
by venckusarunas
1
USDCHF magnet at 1.0Market have found strong lowest point at near 0.7 prize zone and reversed. We can see how many times since 2008 price level of 1.0 shown strength as support and resistance as well acting like the magnet. Since 2011 market unfolded into slightly rising wedge with 2015-01 higher highs and higher lows. In 2015-11 market have closed monthly candle above 1.0 and next candle dip down to close just below 1.0. Is it a manipulation or the break through and retest we will see soon. In case that US economy is growing and show good performance results with intention to rise interest rates at the same time CHF have negative interest rates and deflation in economy we can consider that fundamentals support moves higher. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on Facebook or website. Best wishes for new incoming trading year! ;)
by venckusarunas
NZDUSD possible continuation lower?Last big swing since 2009 look like very similar to previous swing (2000-10 - 2009-03), just higher in channel up direction. If consider that it can be the same length - yet 18 month left until same period. Same goes to price - it is in the middle point close to all time high and low Fibonacci 50%. We see two possible support zones at confluence of Fibonacci 61.8%, the trend line and previous historic strong price level of 0.595. And second zone confluence of Fibonacci 78.6% and historic strong price levels of 0.5 and 0.48. And there could happen the correction up to test wide resistance zone in between of 0.75 and 0.72. Last swing have nice double bottom pattern formed before move down. This is known as strong reversal sign and can stronger and bigger move. The dip in price after double top was sharp as instead of technical pattern - China's economy growth slow down supported that move. And yet we see no signs of China economy growth going back to its previous pace what can support further drop. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website. Best wishes for new incoming trading year! ;)
by venckusarunas
If BTC can't break 2951, then history will repeat.Red lines = everytime MACD (11,24,11) divergence has gone below -10 after being up > +10. As you can plainly see, it's pretty rare that the 1 day MACD is unreliable with these parameters. This recent fall has tried and failed multiple times to get past the 2951CNY mark. If we use 11/10 as a guide BTC would be going down 20% to around 2330---however I'm at least a little more optimistic that it will, at worst, bounce on the 2450 (or maybe simply 2500) fibonacci support line before climbing back up. Bear in mind (no pun intended) that the 1 week MACD is due for a drop though, meaning things could get perilous real fast.
BShort
by RyanMartin
GBPUSD possible continuation shortIt is possible that market have completed Elliott wave zigzag correction with wave (c). This is at the Resistance zone 1 where is Fibonacci retracement of 61.8% and round price level 1.53. If a correction will be confirmed we will see continuation movements down side. My trade plan: 1. Look for (c) end confirmation signals. If confirmed look for reversal signals and take short trade with lowest risk conditions. 2. If first trade is taken and wave 1 and 2 are completed - look for signals for second trade short with lowest risk conditions. If reversal signals found on support zone 1 or 2 will be found - close all trades. 3. If resistance zone 1 will be exceeded - recalculate wave count. ! RISK DISCLAIMER ! All information I provide is my own trading Ideas. It is not any kind of recommendation to make trading decisions. And it is not recommendation to use any details about trade such as stop loss or take profit levels. Trading on financial markets is very volatile and risky, that why it is possible to loose all of your capital in very short period of time.
Short
by venckusarunas
2
EURUSD possible reversal 'taking top and bottoms'Market have completed impulse Elliott wave pattern down at the Fibonacci confluence zone piercing price 1.07 level. This is possible strong support zone and a correction could follow. There is possibly strong resistance zone near price level of 1.09. No trades should be taken if price close daily below 1.07. My trade plan: look for reversal confirmation signals for long trade in smaller time frames. This is just a correction, that's why long trade should be short term and stop loss should be placed in safe zone really. There is possibly inverted head and shoulders pattern in H1 time frame so possibly follow the classical rules of trading it. ! RISK DISCLAIMER ! All information I provide is my own trading Ideas. It is not any kind of recommendation to make trading decisions. And it is not recommendation to use any details about trade such as stop loss or take profit levels. Trading on financial markets is very volatile and risky, that why it is possible to loose all of your capital in very short period of time.
Long
by venckusarunas
Nov 11 - GOLD - Heading Lower to $970-$1,000 Region in 4-6monthsGold (Weekly) @11 Nov 2015 On the mid-term outlook, Gold is at the final phase of its major downturn from all time high of 1,900 (year2011). Price is forming an Ending Diagonal - typical wave5 pattern following significant downmove or extended wave3. A closer examine of the ending diagonal structure shows that a potential Final Down-Leg (lower degree wave_v) is under progress. Projecting ahead with similar down-angle within the diagonal, expect the final wave to bring price towards the psychological $1,000 mark, or the subsequent 2.618 fibo expansion level of +/- $970. * ----------------------------------------------------------------------------- GOLD (Short-Term Outlook) ----------------------------------------------------------------------------- - expect immediate direction = UP in Rebound - recent $100 fall from latest pivot high of 1,190-1,080 warrants an near-term rebound - rebound target, taking the immediate resistance band overhead around 1,130-1,150 zone. - expect price will move in similar angle from previous bounces within the diagonal - shall the bounce materialised, expect the next move to be Down towards the mid-term targets. * * -------------------------------------------------------------------------- GOLD (Mid-Term Summary) ----------------------------------------------------------------------------- Price Target: 1,000, then 970 region. Time Target: (4-6months from Oct'15) = Feb-Apr 2016
FX:XAUUSDShort
by jeanne_k
3
DIA - Fibo Cluster Level Overhead @175-176 BandLooking for potential retracement high to Short the indices, with my main focus on DIA currently. DIA staged a nice ABC-wave rally recovering from major pivot low of 150.5. Currently looking ripe for a continuation of the underlying major correction from 183-150. The 175-176 region is ultra significant, comprising of: (i) previously surrendered H&S neckline, (ii) 76.4% fibo retracement line for the 183-150 plunge, & also (iii) the 127.2% extension level of earlier rise from 155-167. Similar setups can be found on the other 2 indices - SPY & QQQ. Will update on SPY over the weekend. :)
AMEX:DIAShort
by jeanne_k
1