Reasons for 1.Price has been stuck in box range for a few weeks now 2. 1.08000 Level is a strong level of support as the past has shown 3. Price has put in a bullish hammer and a bullish engulfing 4 .Price also put in a sign of reversal with a tweezer bottom 5. All these signs signify a reversal and possibly momentum to the upside
Looking for a nice trade back up to the top structure line, some sideways movement as before then a good blast up to 0.382 fib retracement level, then back up to the top of the previous spike and onwards.. But one step at a time.. Let's see if we get a break up to enter long... All comments welcome, thanks for viewing.
EURUSD may be entering a strong rally through wave-iii-of-(iii), providing an opportunity to take a long position with a R/R of 9.36. The larger C-wave is an expected 5-wave impulse considering wave-A was also counted as 5 waves (5-3-5 zig-zag). Since a bullish 5-wave-(i) was corrected by a zig-zag decline and a price was rejected at the .786% retracement of (i),...
After having a running flat correction and a 5 wave completion to make wave v, we have completed purple 3. Purple 2 was a rather flat correction, with rules of alternation I am expecting a deeper correction more like a Zig Zag to take place. Using double channels since wave 2 was very shallow. Ill be waiting for a wave "a" and wave "b" to complete before placing a...
On the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish...
Continuing from the last chart that I published, It looks like we just completed Wave (b) as a double combination. The confirmations are the count (zigzag x triangle), the break down of the B-B baseline, the break down out of the A-A Channel, momentum divergences, and the time of Wave (b) being just slightly longer than 1.0 of Wave (a). Also the fact that this...
AUDNZD has completed the "e" leg of an expanding triangle in a complex triple three correction. Triangles commonly mark the end of a three wave reactionary wave and thus an upcoming bullish move may be impending. A possible cypher will make for an optimal entry long. In the case of the triangle continuing to 2 or 4 additional three wave moves off of the...
Not sure where to start labelling this triangle, but never-the-less, if the structure is correct it will be about 300 pips and much more if it breaks out at the top of the current pattern and heads for the next one! Or if yellow labels are right it could head back down at "E" for more pips and even more if it breaks below to the bottom of the next structure line..
Hi Traders, I am new at this wave trading and find the forecasting of direction and retracements fascinating! Being new, I will probably have some of the wave labels wrong, but I am not so worried about getting them perfect, so please don't be so pedantic as to correct every detail. If you have a different "idea" using waves & Fibos, feel free to show a chart so...
USDJPY has completed a bearish Gartley pattern in a corrective wave structure. The flat correction may be treated like a double bottom so that a long trade can be entered at the .618 retracement of CD, a common Gartley target. The 1.618 extension target for the 2618 trade coincides nicely with previous wave 4 resistance and serves as a nice TP zone. A short...
A potential technical entry point.
FX:GBPAUD Safe trades;
EURUSD wave analysis. Now we have wave C. 1.07422 - TP (strong Murrey's level). Good luck! Happy New Year!
We are in corrective structure after a 5 wave move up on USDJPY. We seems to be in the latter stages of an end to the correction. Overall a breakout to the upside is expected. Remember this is a Daily chart, so it may be sometime before it pans out. Price zone to note is 119.50 - 119.00. Price action in thhis zone would give clues about what possible correction...
Hello Traders, GBPJPY complete the corrections and there is bullish divergence!
Hello Traders, USDCHF start with strong impulse, now in contracting triangle pattern. Will it go deeper? Thanks.
USDCAD Crude oil canada looks like will boost canadian dollar. If this condition happens, USDCAD will go deep down in long run.
AUDUSD Look at that divergence! Impulse done, wait for the correction. Sell 0.72700 SL 0.72500 (20 pips) TP 0.71700 (near fib 50-61.8%) What do you think guys?