Chartist4312

Chartist4312

Pulled out long some hours ago. There's a raising wedge on the chart, most visible on the weekly time frame.

Chartist4312 Updated 

Minor wave B (green) seems likely to break into wave C from the current wedge shaped top

Chartist4312 Updated 

There is obviously more downside ahead now. First level to watch now will be 47,18, last low, and respected Fib level.

Chartist4312 Updated 

Current view suggest we should see a break out to the downside from the triangle forming ahead. The move upwards the last days is seen as a corrective minuette wave 2.

Chartist4312

Some more downside very much likely at this moment. See my free blog for more free forecasts: rationaltraderblog.blogspot.no

Chartist4312

See my free blog www.rationaltraderblog.blogspot.com for comments on my charts

Chartist4312 Updated 

Waiting for a minor wave B to complete upwards before a longer wave C down towards 2260.

Chartist4312 Updated 

Soon moving into a intermediate wave 5 downwards after a wave 4 correction.

Chartist4312

Price is forming wedge shapes, that looks logically likely to break to the downside sooner or later. We might at least get one more leg up inside the blue wedge before a potential break out.

Chartist4312 Updated 

This will be interesting. I am not sure price is strong enough to break out to the upside of this structure, yet.

Chartist4312 Updated 

Chart should not need any more description for the seasoned technical trader. Inputs and comments are welcome:)

Chartist4312

Looking for a flat correction before more upside

Chartist4312 Updated 

Expect gold to run lower in 2017. We're inside a larger wedge, -a possible wave A of a bigger ABC correction on the monthly timeframe. Upswings should as I see it now only be seen as temporarily corrections. The closer we get towards the apex of the wedge, a breakout upwards will be likely. Next level to see how price behaves now is 1171, fib 0.382 of the...

Chartist4312 Updated 

This wave count suggest one more leg up to form an intermediate wave E before a larger price drop. In a primarily wave count (dark pink) I am open for the possibility the blue wedge being a wave A in a ABC correction. Stay aware that price might as well break out at point (D) as we are moving pretty close to the wedge's apex now. If point D is broken I suggest...

Chartist4312

There is still a large bigger downtrend on this pair's longer timeframes. I am expecting one more impulsive leg down to form a wave 5 in the wave pattern I currently see on this daily chart. Price is as well currently inside a descending triangle, which increases the chance for a break down today or tomorrow since we are very close to it's apex. If price would...

Chartist4312

EUR/USD seems to be in a corrective wave pattern in 2016. I am expecting a combination of corrections, where a zig-zag 5-3-5 with two truncated 5s in the impulsive patterns, seems to already have formed. We now further seem to be in a X correction down, consisting of 3 waves.

Chartist4312 Updated 

After a five wave impulsive structure, we're seem to be break out in an corrective pattern, forming a wedge shaped A wave. Leading Wedges like the structure currently forming can only appear in the 1st wave or the A wave, supporting the idea (Elliott wave theory).

Chartist4312

Wave 5 seems to take the firm of a wedge which is not that unusual. But trade carefully this autumn as a corrective ABC pattern will come after the 5th wave if this pattern proves viable. It should break the weekly trendline, and wave 4's zone at around 1800-2100 would serve as the first target for the correction. Wedge seems technically it will break before new...