Looking at a 5 day price chart we see price may have formed a top at the 161.8 fibonnacci extension level-which began from the 2009 low, and followed elliot wave theory up to the 5th wave. Now looking for the corrective move to play out, possibly in the illustrated form.
USDJPY is about to complete the C wave of the ABC correction after the last impulse down.I'll be waiting to sell the breakout of the bearish pattern that has formed on smaller timeframes. Targets would be 101.00 and potentially break of 99.50. Trade your plan
USDCHF is still in correction from the last impulse wave.I'm waiting for it to break down the 0.9640 area first to complete the ABC structure then I'll be looking to buy. Target for the buys would be 0.9950.Trade your plan
OHL is going down baby!! For those playing on the long side, a good entry point would be around the 38.2% retracement = 1.161% os wave blue 3
Looking for a bearish move from the breakout of the corrective structure on the 1 hour time frame. Already had one big breakout from previous wave, looking for further downside movements. Target it -27% fib around 1.44100 level.
Hey traders! EURNZD is approaching a high resistance area at the confluence of strong structure, 0.5 fib, and the potential completion of a triangle in wave-B. I want to start looking for reversal signs in that area toward the missed pivots and trendlines. More to come!
Possible reversal point coming up!! Observing this one for a large move...let's see!!! 10 to 1 RETURN ON INVESTMENT if this works out!!! 400+ Pips up to target Good luck!!! KEEP THE RADARS UP!!!
Hey traders! We are in the midst of a long and complex bearish correction on gold. This week we saw a powerful bearish five wave impulse to complete wave-C. At the end of the drop, expect a three wave correction before continued downside. More updates to come as the tide rolls.
Hey traders! We have a spark of the bearish drop toward the completion of the third wave toward our short targets. I have entered with a SL above wave 2 terminus. This is our new invalidation level. Bullish price action above this level will invalidate trade and thus I no longer want it. Devils advocate here is that the bearish wave count was incorrect and...
Here is what I see, to give you an IDEA of what is going to happen. A symmetrical triangle. I am in already and will take profit at 1.12584 then I will wait to see if it breaks above. As I said, this is to give you an IDEA of what is going to happen. Use your own STRATEGY. Good Luck. -TheSmartInvestor
From the previous analysis(link below). I think gold is going down and yes it went down from the 1338 to 1315 But, I think I was wrong. Maybe, wave (iii) has not revealed itself yet. I will use this new wave count for the next week. This set up will invalid if price below 1300.
Good Risk Reward short on this breakout and profit on the (E) wave
In January 2016, Silver has begun a big wave rally but every party must come to an end. For now, September 2016, Silver has ended the cycle 5 waves up unfold as expanding leading diagonal and going into a big correction after 5 waves up. IMO silver is now in a wave C and expect to see impulsive 5 waves down. This wave count will invalid, If price goes beyond...