electrical777

electrical777 Updated 

NZDCAD SHORT, A STRONG DAILY REJECTION HAS BEEN SEEN AT THE UPPER CHANNEL RESISTANCE AND POSSIBLY A DOUBLE TOP FORMING SOLIDFYING MY BIAS FOR NZD CAD . ALSO A HEAD AND SHOULDERS IS FORMING ON THE 1HR TF. SEE COMMENTS BELOW

electrical777

LONG POSITION

electrical777 Updated 

CADCHF MAY BE A SHORTSELL SINCE IT IS AT THE 4HR CHANNEL RESISTANCE. Requirements for entry. would be at the 15min chart since a bullish ascending triangle is forming (SEE COMMENT BELOW FOR THE PIC). once it breaks TO THE UPSIDE. then a possible entry would be a LONG AT RETEST OF CHANNEL. BUT IF ASCENDING TRIANGLE GETS DESTROYED. GET READY FOR A SHORT SELL!

electrical777

EURJPY HAS A GOOD RISK REWARD RATIO. ENTRY WOULD BE AT LOWER TIME FRAME (MINE WOULD BE AT 15 MIN 0.5 FIBB RETRACE OR AROUND 125.60) TP1 AND TP2 WOULD BE THE IDEAL TAKE PROFIT POINTS WHILE TP3 IS HIGHLY UNLIKELY BUT POSSIBLE

electrical777

A LOW RISK HIGH REWARD SETUP FOR USDJPY AS IT RETESTS ITS PREVIOUS TREND CHANNEL. WAIT FOR PRICE ACTION FOR CONFIRMATION OF ENTRY

electrical777

Head and shoulders attempting to form

electrical777 Updated 

Here is my forecast, Technical analysis on GBPUSD Using my newly learned Elliot Wave. DISCLAIMER: This is NOT a trade signal, this is for research / analysis purposes only. The purpose of this post is for education especially for newbies like me. feel free to comment your suggestions/ guidance or your own analysis. feedback would be gladly accepted