- The previous analysis was invalid due to me incorrect labelling, but we move. - Break out pushed price down to 1849~, pushing upon a supply zone. - Expecting a break out thru 1925 back up to 2000
short term ideas on GBP JPY I don't believe we've seen the end of Wave C here. Still a system of lower lows. Complete invalidation lies at 142~ and would officially mark impulse Wave 1.
Welcome back friends, Here I've charted up my long term projections for USDZAR and color-coded based on my opinion of probability through using the Elliot Wave analysis. Expectations are a continued push down to 16.24~ before breaking out past 17.10~ and completing wave 5 The wave structure is invalidated if it retreats below 15.70023.
Wave analysis showing a horizontal triangle on the H4. - Lower lows indicating bullish pressure. -Awaiting confirmations @ 1975
Strong support level in this bearish Triangle formation, looking to catch the return to the trend resistance before going short. If you can see the Buys then you can see the sell 👌🏽
Head and shoulders formation + upper channel reversal
3rd touch on the lower end of the channel. Weakening buying pressure, if the next candle isn't a bullish engulfing then we may see a fall in price.
1) Triple bounce off the trend line 2) Consistent higher lows (HL) 3) Strong resistance at the .76139