This is AUDCAD 2-hour chart where we can see the impulse down, now this pair is in correction and we're looking to catch the next impulse down.Traders who are more conservative with their trading should wait for the breakout since its a safer entry, because we dont know for how long this can consolidate before it goes down.For traders who are looking to get this...
Mornin' traders! The correction has continued into a double-combination channeling zig-zag. The zig-zag is currently in wave-iii-of-(c)-of((y))-of-X which is not the optimal tie to enter. In addition to the wave count, a bullish bat is complete at previous structural support and may act as a catalyst to start the sideways correction into wave-iv. Since my bias...
Hey traders! AUDUSD has potentially completed a double combination triangle/triangle sideways correction. The breakout into wave-e was expected, now it's time to buy the pullback toward wave-v-of-((c)) if one should occur. SL can be placed tightly below wave-i which acts as an invalidation level. Will update wave count as they roll out.
Evenin' Traders! GBPUSD is correcting inside of an expanding descending triangle and has reached wave-(E). This trade takes advantage of a pullback after a bullish impulse wave which could be viewed as either wave i or a. So, in order to ride the following, usually stronger impulse which follows, we can wait for the pullback which has just occurred. There...
Hey traders! Here is an updated wave count on EURUSD. I'm looking for a bearish impulse to set off a potential wave-c. My preference is to sell the pullback on wave-ii-of-c and put a tight stop behind the start of wave-i. I will continue to update when waves complete or if I take a trade.
Hey Traders! Here is an updated wave count on EURCAD. I'll be looking to short the pullback created by wave-(B). More udpates to come as the waves roll. Happy Trading!
This is a buy setup.We have a breakout now and we'll be anticipating the 1.27 as target.This may take some time so you have to be patient if you want to trade this.Traders who are more conservative can wait for a correction on lower timeframes before buying which I'd highly suggest.Trade your plan
After a strong impulse following an expanding triangle (see related idea), EURGBP has completed 3 waves of a possible 5 wave impulse to complete the combo wave. Triangles almost always occur in positions prior to the final impulse wave in the pattern of one larger degree, in the case 4 of 5. There could always be a further continuation sideways or a deeper...
wave C of is going to end soon I've my first short at 78.6% fibo projection and I'll add more short if price moving up to 100% fibo projection
Hey traders, potential expanding triangle here to complete potential Gartley pattern and continue the correction. The stop is tight, any drop below "e" could mean a deeper correction. Happy Trading!
Hey Traders! I wanted to publish an example of using EW theory to set a tight SL and maximize risk/reward. Here we have a potential correction off of a strong bearish impulse. There are a few possible scenarios lining up for the corrective structure that follows. Our preferred scenario in this case is if the last leg is in fact a b wave and the "c" will...
So far the price fits its action within the boundaries of an Up Trend Channel (UTC), therefore I would expect a bigger corrective structure that could possibly go to test the Lower Limit of the UTC, within that scenario I would be looking for long set ups in a lower time frames in order to enter the market .... Remeber any trading decision must be based on a...
On break, catch the next wave up. Have a good weekend all!