ABC Pull Back 6B FuturesABC Pull Back for trade long out of B pivot into the C pivot and then short out of the C pivot for a new Low
Medialines
Gold Buy OpportunityPrice is being moving sideways testing the sliding parallel of a median line set acting as support. A big spike to the upside took out previous highs indicating that buyers are taking charge at current level. Going long with sl and tp as shown in the chart is our option.
Entry level: 1275.70
Stop-loss: 1269.53
Take profit: 1289.00
GBAUD: Pending Bearish Pattern With Tremendous R/R RatioPrice has broken below a short term uptrend with a sharp impulsive move, and since then it's been in a correction having already form waves XABC of a bearish gartley pattern. In case we see price heading up we should have the completion of the pattern which definately i am going to trade with sl above X point and tp the upper quartile and the median line of the set.
GBPNZD: Sell Setup Completion Price has broken below a long term correction and has pulled back to test the broken trendline. It seems we have a rejection meanwhile we see a bearish divergence in RSI. Using a median line setup we may short this pair aiming to the upper quartile of the median line. Stoploss as shown at the chart.
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GBPJPY Short-Long setupIdea is based upon Elliott wave theory supported by Median line analysis. Fibonacci extension ratio confluence is used for reversal price projection. RSI and Stochastics are utilized for wave recognition. Chart contains typo: "2 consecutive weeks" should be 4 consecutive weeks!. More info on the chart. Good luck
AUDUSD Correction to the downside is not over!!!Idea is based on a combination of Elliot Wave Theory, Median Line Analysis and Fibonacci ratio's. The rationale behind this technical analysis is shown on the chart. If you are about to copy this setup please do so at your own risk. Good luck!
EURUSD LONG SHORT SETUPIdea is based on a combination of Elliot Wave theory, Median Line Analysis and the application of Fibonacci Extensions. The rationale behind this technical analysis is shown on the chart along specific targets. If you copy this setup please do so at your own risk. Good luck
The AUDUSD AnalysisThe AUDUSD has been in an up trend that had seemed to be over a month ago. And yet it continued higher. The key support level at 0.9208 proved to be very strong and, if tested, is expected to stall any potential decline. There are both bullish and bearish signs here.
What is particularly bullish about this market is its adamant tendency to climb higher, even after the bull trend line break. Price keeps following the up slope within the up fork and is still above the major low in terms of slope. It hasn't reached 100% size projection of that big Sep-Oct 2013 swing up.
On the other hand, the upthrust above the price level of the last major swing high looks like a fakeout - price reached the 0.764 retracement level and vehemently turned back down. Harmonic traders would notice a bearish butterfly. Market has reached the upper border of the big channel it has been trading within since Aug 2013.
And overall price action seems to be pretty much rangebound. And it's no wonder why - the relative strength of both AUD and the USD has been somewhat neutral, somewhat weak.
What's next? We can expect some bullish price action, esp. as long as we're above the support of 0.932 level. If resistance at 0.946 holds, a swing down will probably begin. Otherwise, another breakout may be this time successful and we'll see it test the Oct swing high at 0.975.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
