WicktatorFX

WicktatorFX Updated 

Bitcoin is forming a reversal pattern known as Ending Diagonal. Ending diagonals form in Wave 5 or in Wave C. This is one of the more reliable reversal pattern with easy confirmation. It is important to note that the 5th wave of the ending diagonal can sometimes fall short or even extend therefore it's important to wait for confirmation. Confirmation for this...

WicktatorFX Updated 

Bitcoin is ever so close to our LOAD UP Zone. Our last analysis required a few changes. Instead of a 5 wave move down for wave C, we are seeing a 3 wave move. We are currently in the final legs. Watching for one more move lower before we start loading up. In the meantime we can take advantage of short term SHORTS. - Watch for rejection of the channel - Once...

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Following on from our lower timeframe post, this is the higher timeframe analysis. We have a really nice descending trendline that we can keep an eye on once we see the final low mentioned in our lower timeframe analysis. See lower timeframe analysis here: What do you guys think? Goodluck and as always, trade safe!

WicktatorFX Updated 

Similarly to Bitcoin, Ethereum is also creating an ending diagonal. As mentioned in our previous post on Bitcoin, the 5th wave of the ending diagonal can fall short or extend beyond the wedge. For ETH, ideally we extend beyond the wedge so that we can avoid having a truncated 5th wave. Trade Idea: - Watch for the completion of the 5th wave of the ending...

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In our last CADJPY analysis, we mentioned that the top was in place for CADJPY and to watch for the completion of the 2nd wave ABC correction. We saw a deeper retracement than anticipated but we still remained below the high. Price went on to move lower 1000pips. As we're in wave 3, we were looking for 5 subwaves. We can see that we're currently in the 5th...

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Nasdaq has almost finished its bearish correction. We're looking for a rejection of the fib levels and then a break of the red trendline for confirmation to sell. Trade Idea: - Watch for correction to complete at fib levels - risk entry on rejection of fib level - safe entry on break of red trendline - Targets: 10450, 9000 Goodluck and as always, trade safe!

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NZDUSD is currently within a 5 wave impulse and we're in wave 5 now. We have NFP tomorrow which may reverse the market and with it, NZDUSD. Trade Idea: - On lower timeframe, watch for a sharp sell off - Confirmation on break of red trendline - Targets: 0.61 (320pips), 0.59 (500pips) Will review price action once we move lower to see if we'll move down to...

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At the start of this year, we identified that Gold was in a 5 wave impulse and that we were currently in wave 4, which is an ABC correction. At the time, we only saw Waves A and B of that correction and anticipated Wave C lower. Price went on to create a massive move lower completing the 5 waves for wave C. The 5th wave for C was an ending diagonal, which...

WicktatorFX Updated 

On lower timeframe, Nasdaq appears to be reversing but once you zoom out, you can see that it's just a correction. We are currently within subwave 4, which is an ABC correction. Watching for completion below the blue structure/fib. Trade Idea: - Watch for rejection at the 618 fib level - On lower timeframe, watch for trendline break, BOS etc for confirmation -...

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In our last GBPJPY analysis, we thought we'd make another high before reversing. However, it appears that wave 5 was an ending diagonal to complete the entire 5 wave move. We are now looking for any opportunities to sell GBPJPY. On lower timeframe, we can look for corrections and sell on the breakdown of the corrections. GBPJPY 8H Trade Idea: - Watch for...

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Similarly to Bitcoin, Ethereum is approaching a critical zone where we'll be looking to buy. We require the current wave to move lower than the 3rd wave completion (900) for it to be a valid wave 5. However, in the rare (very rare) cases, it may be a truncated wave 5 where wave 5 doesn't create a lower low. Trade Idea: - Watch for price to move below 900 - Once...

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EURJPY could be one of those trades where you can enter with a small SL and make upwards of 600pips. The invalidation level lies below the blue structure. As long as we're above it, we can look for reasons to enter Long positions. Trade Idea: - Watch for price to stay above the 618 fib - On lower timeframe watch for break of trendline or BOS - Stops go below the...

WicktatorFX Updated 

MATIC gave us a complex wave 4 and now we're at the extremes of wave 4. We have an invalidation level in place and we're almost at that level. Taking a short entry anywhere near the blue structure will give us a great risk to reward. There's only limited space for it to move up but there's 75% raw gain to be made on the short. We're expecting wave 5 to go below...

WicktatorFX Updated 

GBPJPY has been in a steady climb since April 2020. Due to BOJ's monetary policy, we've seen JPY fall to its death. However, there's increasing pressure on BOJ to abandon their YCC policy and we may see that happen very soon. In the meantime, we can take advantage of the bleeding YEN by buying GBPJPY once more. We are at the absolute end of the bullish wave so we...

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In March 2020, we saw Silver shoot up in excess of 150%. Since then, we've been in a major correction for 2 years. A correction usually consists of 3 waves with wave C having 5 waves and following the impulse schematic. We can see that we're currently in wave 4 and approaching the wave 4 invalidation level. This allows us to have a clear area for sells and...

WicktatorFX Updated 

With FED raising interest rates by another 75 basis points, it will inevitably strengthen the dollar. We can use this correlation to short NZDUSD. Expecting price to stay below the blue structure. We appear to be rejecting the 618 fib. Trade Idea: - For safe entry, watch for break of the red trend line - For risk entry, watch for a rejection of the 618 fib -...

WicktatorFX Updated 

CADJPY appears to have completed the bullish wave and now we could be at the start of the bearish wave. We're currently looking to catch the bearish wave once we see confirmation. The confirmation we're looking for is rejection of fib and then break of the red trendline to indicate the next impulse has started. Trade idea: - Watch for rejection of fib levels -...

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Our previous bearish AUDUSD setup played out perfectly and we're currently down by over 700pips! We are almost at the completion of this bearish move but we can still take advantage of a couple of more short plays. Trade Idea: - Watch for price to come back up to the structure/fibs to complete the ABC correction for minor wave 2 - Enter with stops above the...