This is my take on the GBPUSD wave count . I'm quite new to the Elliott wave stuff. Constructive criticism welcome.
USDCAD still has room to go higher some. I think the move is limited and a correction is due to come. USDCAD tends to correlate with the energy sector. I would be looking for news that energy is posting gains and we should be seeing a correction start to form here.
GU Just made an ABC. An ABC to the downside is likely. With a tight stop and using 61.8% as a TP target, we have a good trade.
I think i see a zigzag in the DAX. I have not traded the wave-patterns much, but i do my best. If any expert out there have a other view on this, please comment so i can make it better next time.
It seems like maruti has steamed out with price action, where price is increasing but with low volume, showing weakness. I believe it has completed its 5 wave impulse move in its weekly chart. In order to confirm the bearish trend reveral, I'm waiting for a break out from the ascending triangle or rising wedge to downward.
Cairn has one down leg till 118/114 from where it can turn around as a fresh impulse till 172/182
Bullish argument Notations on chart Best to your trading @WallStScalper Music at work: www.youtube.com
BTCUSD is pushing upward. 400 seems like a reasonable correction point.
Regardless of the wave counting, price-action moves up when price is near wave structure (orange arrow). By the time it has broken, it could trigger at least an ABC correction. If my count is right, we will see a major sell out. And that is my bet! Happy trading! ___________________________ Interested by this analysis? Contact me via private message, email...
On the 4h chart of EURCAD, we see that price was trading in a correction, because of a slow and sloppy price action. That said price made a double zig-zag labeled as red waves w-x-y. We think that correction might be over because of a sharp fall to the downside labeled as red wave i-circled. A recent pullback to 1.4984 could be red wave ii-circled, and now we may...
It appears that we just completed an Irregular Failure Flat on the 12H chart. Since this is a running correction it implies very strong counter-trend power so I would expect that we go to at least 190 on this leg down, possibly even lower. This pattern should take 1-2 weeks to complete. It's a very nice, clean count. Perfect Impulsive move down followed by a...
EURJPY has achieved Wolfe Wave T2 (attached below) and is completing a series of bearish patterns in a confluent reversal zone. On the longer TF, a 1.13 projection of 0X lies at the top of the PRZ. There are also bearish bat and butterfly patterns completing in the area of a Wolfe Wave SELL zone. Missed pivots lie below price which may also drag down price. ...
Right now there is too much going on, I recommend stay out for today and tomorrow (if you are lucky and dont have any positions) and see what gets confirmed for one side we have the up trend which is on wave 4/5 of elliot although its a bit too much retractment for my like (nothing that we havent seen before) if the pair can retake the 1,1471 then the 1,16-17...
We see AUDUSD moving sideways around 0.7300 level, which we see as a temporary pause within ongoing downtrend. Keep in mind that we are tracking blue wave 5-circled, which is a motive wave, so we need five waves down from 0.8160. That said we expect new low soon, probably around 0.7000. www.ew-forecast.com