AlexPalmaFXTrader

AlexPalmaFXTrader

Hello Traders Today i'm sharing this 4 hour chart of CAD/JPY and without looking at Indicators i can tell we are heading to another uptrend. you can become a successful trader by just looking at the market structure and symmetry. In this chart we can see 2 patterns a very hard to catch bullish triangle and a bearish head and shoulder pattern. See how easy you...

AlexPalmaFXTrader

Hello Traders, today i'm updating GBP/USD on a 4 Hour Chart and i notice a bearish triangle formation has been forming since 3/20/20 ONE VERY IMPORTANT THING I NOTICE AND I MEAN VERY IMPORTANT Notice wave c of triangle has throw over ( price penetrates temporarily above upper triangle line) which mean wave 5 may be short than wave 3 when throw over occurs it may...

AlexPalmaFXTrader

Hello traders, hope you having a nice weekend here is a trading idea for London Session. Notice wave b as a triangle shape, i hope price breaks above triangle and head to wave c of B. this trade is very risky so i will risk 1% of my acccount. As trend moves on my direction ill move my stop loss to break even or ill set up a trailing stop

AlexPalmaFXTrader Updated 

the uptrend for GBP/JPY is over for now. expect a 5 wave decline to at least 133.300

AlexPalmaFXTrader Updated 

Passible wave count 1,2,3,4,5

AlexPalmaFXTrader

Hello Traders. Today Analysis i expect further decline on USD/CAD if the pattern i recognize is in fact a zigzag correction (ABC) RSI and Stochastic are overbought on the 1 hour and 4 hour. Price may go higher hitting the 200 EMA and .618 fibonacci level before start to decline again. one think i notice it's the RSI and stochastic are oversold on the daily chart,...

AlexPalmaFXTrader Updated 

If you are patient enough you can multiply your money 5X

AlexPalmaFXTrader

Hello traders, Today i'm updating USD/JPY . do you recognize a pattern? i do, it's an ending diagonal indicating a trend reversal is near by always look for more confirmations before enter the market and this is One, Another one can be oversold RSI and Stochastic or Bullish candlestick formations Happy Trading

AlexPalmaFXTrader

Hello Traders, It looks like my last interpretation on Eur/CHF failed, but this is what i see now. It looks like a bearish head & Shoulder pattern has been broken, i will wait for a second confirmation such as a break out on the lower channel line or even a third before going short. if all my confirmation take place i will expect market to drop @ 1.0600 or even lower

AlexPalmaFXTrader

Hello Traders, This is an update from yesterday Analysis on GBP/USD 1 hour chart. Price may reverse before wave 5 completes between resistance zone (Yellow Rectangle )

AlexPalmaFXTrader

Hello Traders USD/JPY Price is holding between .50 and 61.8 Fibonacci level. Middle line of the channel and 200 SMA are acting as strong support level. I think price will .618 level @ 107.451 and then will reverse. RSI and Stochastic are oversold . If Market holds .618 level and reverse to the upside profit targets will be between 109.00 and 111.00

AlexPalmaFXTrader

Hello Traders. it's looks like an expanding triangle is under formation on wave 4. I expect one last move to the up after triangle is completed before market reverse to the downside, probably after hitting resistance level @ 1.2828 so i'm long for my last time until the market talks again Warning : triangles are tricky, i always recommend to wait for a breakout...

AlexPalmaFXTrader

Hello Traders. According to my wave count further decline is expected for this pair. I expect the market to decline to 1.3200 level during London Session

AlexPalmaFXTrader

Hello Traders, If Price holds .50 Retracement level we could see another uptrend beyond wave 3

AlexPalmaFXTrader Updated 

Hello Traders, Possible ending diagonal on wave 5 of 3. I ll wait for breakout on lower support line for an entry. Sometimes when ending diagonal are formed we expect a big drop on price. As i said always wait for confirmation before entering. good luck

AlexPalmaFXTrader Updated 

Hello Traders long position 1-1 risk reward ratio on GBP/USD we are getting closer to our last impulse wave, then a decline may be coming. let's keep an eye on that resistance level

AlexPalmaFXTrader Updated 

Most likely EUR/USD will pull back to wave E in the triangle (I'm not 100% sure if my wave counting is right) As of right now price is going down, getting closer to the triangle bottom resistance level (Wave D). Most likely price will bounce back to support level on the Triangle (Wave E). RSI and Stochastic indicators are showing divergence on 1 hour chart, which...

AlexPalmaFXTrader Updated 

Hello Traders, I was doing some wave counting in the 4 hour chart GBP/USD and notice we are currently in the last corrective wave of an expanded flat pattern (Wave C). According to Elliot Wave Fibonacci guidelines wave C retracing points are 1.236(already broken) and 1.618 where it's getting close. RSI & Stochastic are showing some divergence on 1 hour chart as...