Staggi10

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...

Staggi10

Here is the foundation for my trading plans with GBPAUD. Lately, I have been starting to look at the market in fractals, meaning that especially during periods of corrective price actions the market often moves in 3 wave patterns. Each of these patterns consists on a lower level of some kind of 3 wave pattern e.g. ABCs or WXYs of all kinds. This is what I´m trying...

Staggi10

GBPAUD could be worth the risk to short for the interest news tonight. I believe that GBPAUD is in a corrective channel and should go down for a wave C. This wave C is part of a larger corrective pattern. At the end of the wave C we can expect GBPAUD to rise, rising to the highs of August 2008.

Staggi10

As everything is depending on how the FED will determine the current economic situation in the USA one could make a case for both a continued strength off the USD until the FED will cut interest rates. However, a slight indication of earlier than expected cuts will weaken the USD significantly and will come as quite a surprise for the market. In my opinion, the...

Staggi10

Weekly look at AUDCAD. Everything I see is three wave overlapping patterns. There are 3 distinct channels visible that all fit the narrative of an ongoing corrective move that maybe a WXY. Currently, I believe that we are in a wave B of wave Y.

Staggi10

AUDCAD shows bullish momentum on all TFs 8hs and lower (I´m not looking at minute charts). However, it is in my opinion trapped in between two (evtl 3 channels) as part of a bigger WXY. AUDCAD could have already finished the wave B of Y but I´ll give it more room to the upside to the 61.8 or 78.6 fib retracement before it continues down again. Two thresholds need...