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Harmonicelliottwave

Aud Cad short term bullish opportunityGood evening everyone, I hope you've all been doing well. As per the usual, I am going to keep this short and sweet. I strongly believe that we are headed up in aud/cad to atleast the 0.94810. Elliottwave analysis: If you saw my last post, which I highly recommend, you probably caught the wave a of the wave 5 and have come out with a great profit. This means that it is now time to catch the retracement. Typically I would expect a 0.382 retracement, but I am more than happy taking the conservative target on this one, which is the 0.236 retracement. I think we have finished the wave 5, since we have hit a 1:1 extension of the wave a of the wave 5, which is a strong indicator that this movement is over. Ideally, I think that we could target the bottom of the wave 4, since this is typically where the wave a ends after an impulse wave. Moving average analysis: The only thing that the moving average tells me, is that the target I have is the same as the 1 hour 55 ema, but I didn't take the EMA into too much consideration for this trade, since it wasn't giving me many strong singles. RSI analysis: The rsi analysis is the money maker. As we can see on the 1 hour, we have some strong bullish divergence, which IS WHAT I LIKE TO SEEEEEE. The best part is that this divergence is visible on many different time frames, for example, the 30, the one hour, and a little bit on the 2 hour. MACD analysis: This is indicator is also giving me really bullish signs. Firstly, we can see that there is some huge bullish divergence on the macd for the 1 hour and the 30 minute. We have seen another cross and I believe that we are headed to the upside. All in all, this is the trade setup I am following: Target 1: 0.236 retracement- 0.94810 Target 2: 0.95086 Stop loss: 0.94372 I wish you all the best when trading tomorrow. Stick to your stop losses and have a great time.
Long
by Mika_k
Microsoft Trading opportunity in the mid termwell, let's try this again. I had basically finished making this post, but I pressed esc on my keyboard and my whole blog post got erased. So, I am a little tilted, a little triggered, but let's move past this into the t.a. Elliott wave analysis: The elliott wave analysis, similar to AMD, took me quite a while. There were a lot of probable wavecounts, but it wasn't until I really started to look into the price action, that the wavecount I have right now, appeared to me. As I am writing this post, we have just ended the wave four, and are beginning to start the wave 1 of A, of the great wave 5. The target for wave 5 is the 247-260 range. This is because it is the 0.764 extension of waves 1-3-4, and it is the 3.618 extension of wave 1-2. Now some of you are wondering why I didn't make the first target the 0.618 of waves 1-3-4, and this is because, there is such a strong cluster at the 0.764. Once the wave a unfolds, I will be able to give a more accurate target, but for now, we just have to forecast on the information at hand. Moving average analysis: The moving average analysis on the 1 hour is telling us a very important story. We have been riding the 200 ema for quite sometime, so long that the 55ema, is also starting to ride the 200 ema. This is important, because if the 55ema break downwards, we are headed a lot further down, but a bounce off of the 200 ema for the 55ema, is great confirmation that what I predict is going to come true. On other time frames, such as the 2 hour -daily, we are steadily cruising on the 55ema, which is an alright sign. Macd analysis: The macd on the one hour, is providing us with a huge signal that we are headed up. We have crossed over not once, but twice on the negative side, and the most recent one being so close to the zero line, that it shows huge bullish momentum is at play. On other time frames, such as the 2 hour, we see bullish divergence on the macd, and higher timeframes such as the 4 hour and 6 hour, show a cross on the negative, and a bullishly diverging histogram. So tldr, we have lots of bullish signs that support my belief that we are headed up. RSI Analysis: Finally the rsi analysis. The RSI on the 1 hour macd is looking KILLER. We are seeing major bullish divergence, meaning higher highs and higher lows. Something interesting is the action that has taken place on the daily rsi.We can see that we have failed to break into the overbought territory on the daily in the past couple days, but have found the support in the bottom of the bullish territory. I think this might imply that we are headed back up higher. I believe that before msft starts to correct, we will see an oversold RSI, or atleast some bearish divergence on the daily. Meaning higher highs on the price action, and lower highs on the RSI. In summation, this looks like a really great trade to take. Target 1 is 250 Target 2 is 260 The stop loss is below the most recent swing low, so 197. All in all we have a risk to reward of 6.6, which is crazy. Anyway, best of luck trading this week, and made the stock market gods look favourably upon you.
NASDAQ:MSFTLong
by Mika_k