Buy at Bottom of Channel on GoldThe current structure for Gold is an ascending channel. Expect another move up whenever price reaches the bottom of the channel.
Wavetrading
Continuation for Downside on NZDUSDNZDUSD has created an impulse to the downside and has broken two areas. Expect a corrective pattern to further form. Enter short on the next impulse. Good luck to all.
Longer term sell on GU -outlook Just an outlook on GU. Will only take the right sell set ups. Obviously with my other Idea I'll be looking for shorter term swings on the D. But when we get to the top of the structure it's SELL SELL SELL homies! ;p
Lets play NU TRAILOkay, here is how I see it.
This pattern is WICKED... very very WICKED... It has oversized adjustment EVERY where, and that could cause miscounts for E wave traders like myself.
Look at the blue 1 and 2 for example... W.T. H right? But to me that is 1 and 2. Because doing it any other way will cause the bottom of 2 to go lower than 1, leading to 'invalid' patterns.
But as for pattern lets get to it....
The Purple line represents the WEEKLY path. That on an Elliot-Wave is 4 to 5. Of that i am 95% certain.
The green line represents a DAILY Ewave pattern that should end where the Weekly does, in a matter of months. Of that I am 50% certain.
The Red line is a possible Ewave forming, showing that the 4 of the Weekly was not ready to come down yet, and is making one last thrust up, before coming down for the weekly 4 to 5, and to create a new DAILY, 12345 of its own... Erasing the current green line. Of that I am 70% certain.
But the Blue A, B, C I have mixed feelings about... A to B I feel 80% certain about. B may go to the 'red' 5 area. Causing a flat correction. But C.... I don't know how that will behave exactly... It may do this, or something else entirely... only time will tell.
For now... this trade is a short term LONG.
EURCAD Long: Bull FlagHey traders! EURCAD is consolidating in the fourth wave of potentially a long and powerful rally. I enter flags at the break of the staff, where an added layer of support is created from previous resistance. I have my stop set behind a few different supports, including short term SMA's, S/R zones, and trendlines. I will not set a hard TP for this and will likely exit at a PSAR if the breakout occurs at all. Updates to come. Happy Trading!
EURUSD Wave Count: More Downside After Triangle BreakoutHey traders! Hope everyone has been taking advantage of these trending markets over the past couple of weeks! I've been busy with some side trading projects and am back with an updated wave count on the EURO. We are witnessing sideways corrective structure in what could potentially be a fourth wave symmetrical triangle. The 1H trend is down but we also have heavy long-term support below price that could keep the pair bouncing sideways for a couple of weeks before a strong bearish breakout into wave-5. I want to start looking for short positions in the heavy resistance zone where the 200SMA is confluent with potential triangle barrier, TWO unhit pivots and the center of a descending parallel channel. Stay tuned for some updates as we see the tide roll. Happy trading!
ELLIOT WAVE ANALYSISElliot Wave Perspective of Crude Oil.
I am interested in trading the Wave 5. Also the price action near 38.2% or 50% retracement level will be taken into notice before entering the Long .
Roughly
Long @ 48.74
Stop Loss @ 46.99
Take Profit @ 53.00
EURUSD Bat Complete! Buying the PullbackHey traders! I like a long position here, but I want to buy the pullback to the unhit daily pivot which will yield a higher R/R and eliminate that bearish magnet. The .5 bat target is highly confluent, with another .786 fib and a missed daily pivot at the same level. I want to move quickly to breakeven after the trade is active. I will update with another idea if I take the long. Stay tuned!
AUDUSD - WaveTrading by IgnatThere's wave (ii) in progress, but wave (iii) is likely going to start soon. Also, we've got a wedge in wave (i).
USDJPY Trading Forecast for July 13, 2016We are still waiting for yen to pass through the 106 area to confirm that price trend is once again up.
eeetradinganalysis.wix.com
GBPUSD Trading Forecast for July 13, 2016As we stated in our last week's analysis, cable may rise up once more reaching 1.39-1.41 levels before downtrend resumes.
SILVER Trading Forecast for July 13, 2016Like Gold, Silver rallied as high as 21.10 before it turned down. Currently, price is trading sideways which may go as low as 19.00 area.
A break out from its corrective channel will signal that this metal is back to being bullish once again.
