Nathangouge
USDCHF - S&R - 200 EMABeen trading this down trend recently. I believe it will make a retracement which I will be trading before the eventual move down.
You can see the HH's and HL's and just broke through the 200 EMA on the daily (right) to confirm the downtrend.
Currently at previous support where I believe price will bounce back up to test previous support, (red line) now resistance, before continuing the down trend.
1st trade - retracement to previous support, now resistance
2nd trade - trend continuation to the downside
BULLISH GARTLEY - 4HR - NZDJPY - FIB CLUSTERSBullish Gartley I have my eye on, on the 4HR NZDJPY chart.
There are decent fib cluster levels at D leg completion and structure there too. Also there is a good chance to reach TP if it retraces due to fib cluster at TP level (0.382 with 0.618)
ENTRY: 74.446
TARGET: 75.719
STOPS: 73.752
BULLISH GARTLEY - CADJPY - 1HRBullish Gartley on CADJPY 1HR Chart.
ENTRY: 83.536
TARGET: 84.517
STOPS: 82.756 (Just below previous structure at this level)
If this were to reach the D Leg, it would complete one other pattern.
If the Gartley would complete and reverse back up into a bullish move it would also be heading towards a D leg on another pattern.
I will attach the other 2 patterns below.
NZDUSD BREAKING CONSOLIDATION - RETESTWith FX:NZDUSD breaking its consolidation period, I believe we will be going to test a strong structure zone and will be trying to catch it on the way down.
RSI divergence supports this idea.
With higher highs, high closes, you could be aggressive and ride this one the way up too, until it reaches the structure zone.
FURTHER ANAYLSIS USDJPYFurther analysis on the FX:USDJPY .
We can see the bearish gartley completing the final leg before what I think will be a quick retrace before we start moving up again.
We have had a higher high higher close this morning on the 6am candle which has broken the downward trend we have been seeing, breaking out of the wedge shape.
I've just started to learn elliot waves but I believe we are finishing the final impulse wave up before a corrective ABC move.