Bounce downA bounce off this trend line down to major key level confluence with 61.8 fib.
Wait for break of rising wedge.
Expected upside after this move.
May move stops to break even after 50%.
Wavestructure
RE-ANALYSIS ON GOLD - 1H CHARTHey Guys,
I already posted a chart on XAUUSD recently.
Here's just an update of the same analysis and my view on 1H chart.
Gold did not brake the main structure to go downtrend, it broke the buy set up with a charp impulse.
No we are having a corrective structure that will probably develop into another similar impulse to reach upper trendline.
My forecast is the following. Somewhere between the 38.2 and 78.6 will be the point where the new impulse will take place.
Will see how the corrective structure develops but I am sure about these forecast.
Carlos
GBPNZD - Analysis like AnilmangalHi guys, waiting for the completion of the flag to short term buy. But the best opportunities will be on the down side after the completion of the C wave.
AUDJPY Short: Selling the Zig-ZagThis pair has completed a descending triangle and has exhibited a strong breakout to the up-side. I want to be bullish in the long term after this correction. However, this correction is very possibly going to be sharp to the downside to satisfy the Elliott Wave rule of alternation since we saw a sideways correction in wave-2. Also, the previous red candle was a sharp impulse. I want to follow that with a SL above its root. Cheers
long GBP JPYI 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
USOIL Short: Potential Double Zig-ZagUSOIL is tough to predict in these sideways corrective waves, however there are some knowns based on wave structure. The most potential outcome based on recent structure is further downside. A bearish impulse off of recent highs will solidify the speculation and garner a potential short. Keep an eye out for a drop. Happy trading
EURGBP Hello everyone, I took the gartley pattern last week and still believe we can see more downside with this pair. I have highlighted the target on the chart for now even though the price could drop even further. Did not highlight the first target since it's really close to it.
For any questions leave a comment or DM me.
Good Luck
AUD/CHF short set-upFor those who did not catch the previous move the market seems to be providing another sell opportunity.
Sell the breakout of the corrective structure.
Buying setup for EUR/GBPCurrent wave formation in this pair may provide fantastic outlook on how wave patterns work.
It seems that to become an impulsive wave of larger degree the current setup is missing the last leg or fifth wave.
It would be prudent to wait the moment correction ends and buy the breakout
CADCHF - making similar corrections Possible wave structure - CADCHF has made another very similar correction and i will be looking to buy a pullback from here if we get one please see linked chart
AUDJPY Wave count & Possible wave formationsThis post is for analysis purpose. Please trade carefully.
AUDCAD Sell setup & Possible wave formation.ABC Pattern in AUDCAD is completed. Please trade carefully.
Possible COPPER structureCopper is in a big down move
It has finished a 3 wave correction on wave 4
There is a very good chance that the next and last down move is starting right now.
Therefore, looking for sells in the lower time frames seems like a good idea.
Good luck with your trading.
GBPAUD - LONG OPPORTUNITYTHE WAVE CORRECTIVE STRUCTURE IS FINALLY ABOUT TO BREAK. ONCE IT BRAKES PLACE A "BUY LIMIT" ORDER AT THE RESTEST! TELL ME WHAT YOU THINK
My long scenario in GoldAt the moment I would be expecting a corrective trend to the downside, later a signal to enter long ... the risk would be place at the point where the trading idea is invalidated.
Regarding the green lines those are areas where supply could be found, therefore those levels could be clasified as preliminar resistances
Be aware that any trading decision must be based on a well defined trading plan and the risk tolerance of each trader.
For furhter details in the bigger picture of GOLD you can see the related idea.
