Using lower channel of Schiff pitchfork for target.
complex correction is about to end. I think this anticipated down wave is going to complete a bigger flat correction as wave X of daily TF. If this triangle broke to the upside, then there is one more wave to upside and reverse to downside
I know this chart is a mess! but that's because complex corrective patterns are mess and they can form variety of combinations for long time; but eventually one of these waves is the final one and price will finish the corrective phase and start an extremely impulsive and trendy wave which non of us want to miss it, so we have to risk and take trades in each wave...
I'm waiting for a break out of the trend line and trigger a sell setup. This would be a nice trade by both scenarios.
this is a long term view of NZDCAD Its in the long term (weekly or monthly) correction and this wave to upside also will be a correction.
EURAUD is in a long term corrective phase. I'm waiting for a long setup and if it continues crawling downside, I have no plan to sell it yet.
This is a long term trade in daily time frame. Wait for a correction after break out of the trend line, then enter long; because it may make another leg to downside and then again start a rally to upside.
This post has more analytical value than trading aspect. Tomorrow is BREXIT election which can really moves the GBP pairs. GBPJPY has the clearest elliott wave structure in GBP pairs and this structure shows that a 5 wave impulsive move ( A wave of bigger structure) could be over and now its going for a correction to upside as wave B. So, this structure shows that...
this is a trade within correction; so its riskier than normal trades, if you don't know how to manage it, where to enter and when to exit,don't take it. It may continue for more upside and maybe reach the trendline and then reverse to down
this corrective pattern is about to end and expecting another wave to upside is coming soon. this trade is based on previous analysis which is linked in "related ideas" if price break out of trend to the downside, i don't interested in sell setup until i see a correction and reasonable R/R; but keep in mind break out of trend line is not about only one candle...
this complex correction maybe ended and another trend to downside is coming. this is daily view of this pair; maybe expected (Z) wave continue for 61.8% of weekly retracement fib level and lower channel line.
wait for break out of the trend line and a correction to enter short. Don't forget this structure still is possible for continuing upside
I was waiting for this corrective trend to end for a while and it seems that it's in the last stage and ready for upside. Today is NFP which can really moves this pair to both directions, I'm interested in upside, so if NFP run the pair to upside, I'm in, if NFP run it to downside I don't trade it until price make a clear structure.
I was waiting for this correction to end for days and it seems to be ended now. if you are not in the sell, wait for a correction and join the wave to the downside. check the link on the chart to see how the structure developed and how difficult it is to analyzing it while its going corrective. Below is the long term of what I'm expecting to happen:
USDCAD is acting corrective. In my previous analysis of USDCAD (look at related ideas) I anticipate these waves are going to make an impulse to upside, but now they are more likely corrections than impulses.
I'm waiting for this correction to end and join the next wave to upside.