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USD/CHF - 2 Bullish & 1 Bearish Elliott Wave PatternsThe USD/CHF made two bullish Elliott waves, and it's making the third Elliott wave, but this one is bearish. This chart is all about learning to apply the Elliot wave pattern. The first bullish Elliott wave started on the 21st of October and ended on the 23rd of October . And the second bullish Elliott wave started on the 23rd of October and ended on the 4th of November . Now, from the 4th of November, the bearish Elliot wave started, and The fifth wave is in the still making process. ABC correction is remaining . If you like my technical analysis on the Elliott wave theory in this chart, then like, comment, and follow me.
by forextidings
4H Forex Trend Following Strategy With 200 MAThe downtrend of EUR/GBP shows that EUR/GBP will probably touch a major trendline, and it will touch the targets 0.9000 - 0.9060 . By following the Moving average, I suggest traders buy at a price after the above crossing of Price the MA 200 and sell at a price below the 200MA. But because of an election, there is a possibility of fluctuations. Therefore maybe the trend falls from the major resistance trendline and touches the support trendline by crossing the levels 0.8960 - 0.8920 .
by forextidings
EUR/AUD ABCD formation and long opportunityFrom the beginning of June, EUR/USD made a rectangle, and it's broke this channel between points C & D . Here, I have used the ABCD pattern to set the levels. C point is 0.5 , and the BC projection is 2 . From D point, it fell. It will bounce from the potential reversal point, and it will reach the following target 1.67700 - 1.69600 -1.71300 . But if it breaks the potential reversal, it will fall and hit the following levels 1.64160 - 1.63210 - 1.61765 .
Long
by forextidings
EUR/AUD Roaming in the Flat TrendThe trend is moving flat in the triangle shape. The control price is between the dynamic resistance trendline and the solid support trendline. The current trend is flat but, there are possibilities of a rise and fall. It will touch the solid trendline, and then there are two scenarios. If the trend bounces from that point, there will be an incremental movement, and it will touch 1.6595 (the first target), then the next target will be 1.6860 . If the trend falls, it will hit the first target ( 1.5960 ). Then it will touch the second target ( 1.5660 ). Day Trading strategy: From the solid support trendline, You can start to buy until the control price trendline. And you can start to sell there, until the solid support trendline.
by forextidings
2
Will GBPUSD surge from this corrective wave?GBP/USD has started falling since September. It's taking potential reversal from descending resistance trendline. Currently, this pair is into the descending triangle pattern. That's a consolidation area. Hence, we may see continue the sideways movement here. Breakdown of descending triangle or hurdle indicating sell confirmation. That means GBPUSD will pushback to 1.2726 & 1.2676 levels. And upper breakout will hard-hit on the current trend. It will fly till the 1.3020 to 1.3160 target prices. The day traders can keep buying/selling between the consolidation area but get ready for the above targets after a breakout of the descending triangle pattern.
by forextidings
4
AUD/USD Analysis With An Elliott Wave And Triangle PatternThe above chart is an incremental trend, in which I have applied the Elliott wave pattern to get the levels. At the end of the major support, it's making an ascending triangle . That, I have described in detail in the above chart. The trend is crossing the upper trendline of the triangle. It will fall from around 0.7300 . If there will be a situation of continuous fall, and it falls up to 0.7100 , then the targets will be ( 0.7000-0.6960 ). But if there a reversal and with the help of support trendline trend rises, then it will knock the targets ( 0.7336 - 0.7400 ).
by forextidings