WaveTalks

WaveTalks

((C)) Wave travelled 138.2% of ((A)) at 1.3065. At present against 1.3050 -USDCAD is looking bullish, which could be an early stage of advance.

WaveTalks

Instead of breaking upside, above triangle as expected - it leaked below triangle which invalidates the structure, but definitely there is some correction is going on & this whole pattern can now be treated as W-X-Y Structure where X-was the triangle. Trading Strategy Going above 103.95- It will leave the correction behind & should travel to the desired zone...

WaveTalks

Sideways action since 2-3 days suggest that the pair will jump upside for the target zone 104.80-105 atleast Any future selling positions to be taken only below 103.30 or once UJ goes into 104.80-105 zone, then we need some selling confirmation in that zone.

WaveTalks

Pink Trendline drawn shall be the savior for bulls -till the time UJ holds above that line -likely UJ will head towards 105.00-105.10 zone where wave 5 will measure 38.2% of black wave 1-3 distance. Note- Pink Trendline is very important for the bulls.

WaveTalks

New Count shall be the trading strategy- going above 1.3220 shall confirm that UC wants to move up & make a new high above 1.3306

WaveTalks

One of the cardinal rules of elliottwave- wave 4 can never ever go into wave 1 region - from highs 1.3306 -this fall has been in 3 waves down. From 1.3306 to 1.3185 -called as wave 1 -then wave 2 from 1.3185 to 1.3220 -finally from 1.3220 to 1.3101- wave 3 So what is next - obviously wave 4 -as all we know -wave 4 can never go in the wave 1 region- where does...

WaveTalks

Trading@1.3135 As expected UCAD to go into the zone 1.3330 - 1.3340 -It made a high@1.3306 -Started the fall- wedge fall is always sharp which is evident here. Almost 170 pips down from 1.3300 Wedge pattern a-b-c

WaveTalks

Trading@103.85 C-wave is opening into correction or yet not complete as the rally from 103.35 is not impulsive, so likely looking for new low -this time we will have 102.90-103.00 as support which is a- wave of the triangle. Or going above 104.10- correction will complete -likely UJ will head towards 104.80-105 target zone.

WaveTalks

e-wave of the triangle could give support to proposed 4th wave- which also has a confluence of 61.8% of a-wave distance (104.63 to 103.55). Going Above 104.10 -it will definitely look upside for 104.80-105 zone This 4th wave could get support of triangle e-wave.

WaveTalks

Updated 

Trading@104.06 Yesterday's high@104.63 marked the end of the black 3rd wave. Currently we are in 4th black wave which could become an a-b-c sequence again out of which a-fall is done from 104.63 highs -it is retracing back with lows@103.55 falling below 103.55 will indicate that it is c-wave of the fall or if it retraces from current highs of 104.09 but fails to...

WaveTalks

Followed this pair so carefully & executed to my best efforts. One place, I was excited that even predicted the top before NFP data was released on 7th Oct2016-that top was 104.15 which was predicted at 103.85's-103.95's -two explosive moves post 104.15 high. 104.15 to 102.85's 102.85-102.90's to 104 Then 103.20-103.30's to 104 Above 104.07 to 104.45's

WaveTalks

Updated 

Hi Gold possibly looks to turn its fall from 1235-1240$ zone where it completes 161.8% of the W-wave. First criteria is looking for upside candle & this zone should be protect -in that case we could see gold moving above 1377$ high in the near term There was a typing mistake when published in Indian version- zone mentioned in writing up is 1235-1240$ instead of...

WaveTalks

Current High@103.98 Previous update- dollar yen pushed up in d-leg & getting resistance at the trendline or final thrust has started. Likely you should book profits at current levels of 103.95 - to renter above 104.07 -which is the b-leg top or wait for a pull back in e-wave & then a thrust upside -which should be a powerful wave upside going beyond 103.98 -d-leg...

WaveTalks

Previous update -Expected that 5th wave has started as our main count, but we also have an alternate view that 4th wave is still unfolding & it could take shape of a triangle. Final Result should be an up move beyond 104.50 incase it happens to be a triangle with critical support@102. 81- If 102.81 is taken out -I shall revisit the price structure. Key Support-...

WaveTalks

Updated 

L-S --- Long First & Later Short From lows@1.2822- UCAD is could be forming (a)-(b)-(c) structure where is (c)-wave is a wedge pattern. In that wedge pattern- it is running into its final leg-(5)th wave Trading@1.3195 Taking Longs - one should be in longs with critical support@1.3139 for targets lesser than 1.3405 why? - if UCAD moves above 1.3405 then it...

WaveTalks

Updated 

UJ- USDJPY It could be high possibility that USDJPY could be tracing out a triangle which has done its blue a-wave (internally divided as w-x-y wave) & similarly blue b-wave (internally divided as w-x-y wave) similarly blue c-wave is currently running & likely completed w-wave & x-wave-- running internally into y-wave which will complete blue c-wave In blue...

WaveTalks

Updated 

Trading@103.55 As per earlier update- I was looking for a correction from 104.15 to 102.75- Got the Big Move Down 102.80's & Exited -Now 5th wave has already started for red counts -looking for 104.40-104.50 where red wave 5 shall achieve equality distance with red wave-1. Black 3rd wave will get completed in the zone 104.40-104.50 where it will 461.8% of...

WaveTalks

USDJPY has a support likely between 102.85-102.95 so closing my position.