After Uk minister speech yesterday 17th of JAN. we saw a massive strenght on the GBP. The biggest rise since 2009. We have seen a lot of volatily and after a 38% retracement, and a flag being formed, we can short the EURGBP with a great risk reward. This Take Profit is short term, but it can be bigger if analizing the daily chart. The cross of the 50 Moving...
I have never been convinced that bitcoin can manage a major rally past $1200 before taking out its previous low of $145 (here labelled as wave [ A ]). Two rallies that bitcoin has attempted since hitting the major low of $145 have ended up being fakes (and crushing several traders at the same time). The recent rally to $1130 appears to have completed wave [ B ]...
I can see a bigger wave 2 forming in red and a 3 wave forming in blue. What enforces the move up it is the 61% of retracement of wave 1 in red and 161% of wave 3 in blue. They are exactly in the same price zone . Let's see now Good luck
Hey traders! I definitely want to be LONG this pair as the Yen has been weak against the USD and the trend is bullish. However, it looks as though the correction will continue toward the .382 retracement of Wave-(iii) before we see continuation. I will be looking for bullish impulses to get back into the bull rally. Updates to come - Cheers
OPTION 2: Delipidated ABC a correction then Turn... If the dollar is going to come down... then This should be going up.
As per my analysis all pairs with CAD in it are going to weaken CAD. There was a substantial breakout from the structure in CAD/JPY. Now I am expecting it in CAD/CHF down and EUR/CAD up.
It seems that wave a has almost completed and we are approaching the start of wave b at the trendline, after a Bump and Run pattern has formed and cleanly broken structure. SMA shows a clear bearish move in progress and should continue to the first approaching trendline. RSI shows it is approaching the oversold position whilst Stochastic shows it has already...
In order to complete this corrective structure it has to make another wave down.More correction can occur so Ill take the sell after a break and consolidation.
Good short so far for the begining of January with a potential to make new daily lows
Current position on EUR/CAD +45 pips up. However we have now had the break of this 5 wave triangular structure to the downside so i am expecting more downside momentum to continue. Daily support at 1.38800 is our next key level, if we break below that we're heading way down to 1.37600. For more trading info head over to my instagram - Tag in BIO.
As I progress thru learning EW principle I like to revisit ideas and add some additional commentary on what MAYbe happening! Happy new year! Thanks for the continued support! :D