Staggi10

Staggi10 Updated 

The Yen is the weakest currency you´ll ever see but even such a trending market will eventually need a break. The chart is the weekly time frame of GBPJPY and I expect in the next couple of weeks the beginning of a larger corrective move to the downside. Right now it is too early to say when we see the start of the retracement but around 208 - 210 is a good...

Staggi10

My previous analysis showed an ABCDE corrective move as one possible outcome. This pattern is completed and we broke a support level that price has been leaning on several times before. All of this is to me indication that price will continue bearish until the red wave Y finds its end point. First after that the pair may revert to a bullish period again.

Staggi10

We had some good news from the US both for the production sites but also a new big contract! We "can´t" go lower than that and that´s why I believe we will go up from here but there are two level that are crucial and price needs to go past them. I can´t really make a new bullish count yet - wait for next update! These low levels have been appealing to me and I...

Staggi10

If I look at the structure and wave extensions and also that we have an overlapping wave pattern that seems to be trapped in a channel the conclusion that I draw is that we will see more downside to finish a wave 4 or what I deem more likely a wave B or X. You can´t see it on this chart but if we would zoom out what we can see is GBPAUD is in a multi-year...

Staggi10

I have to admit that I´m surprised how accurate my count has been so far. Can I say that I followed through all the time? No!!! Analysis is one thing but trading and not getting discouraged by the market is another thing. AUDCAD is reaching my target zone from where I believe it will turn down again. This scenario gets invalidated if the first major high to the...

Staggi10

This is definitively not solely my own idea (my previous count was invalidated) and I looked around for different analysis and combined it with my own understanding of Elliott wave. It looks very much like gold is going to climb to new all-time-highs again. The bull market is definitively not over and we might actually see prices around 3000$ at the end of that...

Staggi10

The dollar remains strong and as long as it climbs the AUDCAD is going further down. At the moment the triangle scenario seems a little bit more favorable as compared to a regular wave B up. Until further notice I remain bearish on AUDCAD!

Staggi10

Meyer Burger has faced an enormous uphill battle ever since the shift from being a company known for manufacturing machines for solar panel production (and more...) to combining everything under one roof and sell mainly solar panels. The market reacted very positive to begin with but huge inflow from subsidized and therefore cheaper chinese solar panels made it...

Staggi10

Still believe that the push up is just part of a corrective pattern. (see my previous chart!) I guess the week will begin with a bullish move to let the market breath after Fridays fall from heaven. Also, some fundamentals might give fuel for another push up before continuing further down.

Staggi10

One thing is clear this price chart is a mess! On almost all TF we have multiple three wave patterns which makes it quite difficult to read. However, I do have three possible outcomes but all will eventually lead to more downside momentum in the future. 1) The last WXY (in red) is currently in the wave x and price will eventually go higher and bounce of the...

Staggi10

I still have a long-term bearish outlook for AUDCAD but I do see two ways of getting there. 1) A regular three wave corrective pattern going up into the upper blue-green box and from there price will fall significantly. 2) Instead of a three wave pattern we could deal with a triangle corrective move and we just started the wave D which will be followed by a wave E...

Staggi10

Gold has been very strong the last couple of weeks and it may very well just continue but I want to share my wave count (which I hope is following the rules of Elliott wave correctly). I believe we are in a very strong irregular wave B of an ABC for the wave 4 on the weekly & monthly TF. The wave B itself is a WXY formation. One argument against this idea is that...

Staggi10

EURGBP has proven to be a very complex chart pattern. Given the very overlapping price action I believe we are dealing with a corrective pattern as shown by the numerous ABC (three wave) formations. Overall, I guess this is a WXYXZ pattern that currently is trapped in between a support and resistance zone (red boxes). My belief is that as long no significant...

Staggi10

The chart shows two potential ideas for a count based on Elliott wave theory. My main scenario is still bearish that will see price finishing a larg WXY formation (red color). Here, I believe price to be in a wave B (blue) of the wave Y. The alternative is that the WXY (red) has already ended and price will move higher. For now, I´m targeting the end of wave B...

Staggi10

The trade is developing very nicely according to my previous idea. I´m looking for retracements to add new positions along the way. Retracements may happen soon as we broke structure (taken out previous lows) and are getting into oversold territory.

Staggi10

RBA (central bank of Australia) did leave the interest rates unchanged tonight and this had also an effect on the GBPNZD as New Zealands currency is strongly correlated to the AUD. It seems like GBPNZD got past the resistance area (still could end up as a liquidity sweep and reverse) but it seems more likely we are moving higher up. There´s still an alternative...

Staggi10 Updated 

GBPNZD is in my opinion in an uptrend that is part of larger ABC (white; could be WXY too) and moving inside a channel. My outlook is that price will move past the current resistance zone in a bullish manner.

Staggi10

I have been going over my count once more and I´m not anymore completely convinced that the price will continue upwards immediately. In fact, GBPAUD and GBPNZD are moving very similar and I have GBPAUD going down at first. Of course this is no guaranty that both pairs continue do behave similar but it´s a possibility. For now, I remain neutral and I closed my...