samuelkken

samuelkken

at 38.2% wave IV seems to be completed, if this count is correct, then we are looking forward to wave V

samuelkken

GBPJPY on lower time frame is in impulse wave, and wave III seem to have ended and a correction to 23.6% or 38.2% which will be wave IV , we shall watch and see how wave IV develops

samuelkken

though JPY seems to be strong, yet buying is not yet over

samuelkken

daily tf frame has an interesting trend line that will offer support for buyers if the minor trend line which price bounced yesterday, in my opinion, since the price has not broken the trend line and secondly based on Elliott wave count, wave 1v though went so deep, is still at 61.8% fib level and has not closed below below the ending point of wave 1, I consider...

samuelkken

we have seen that wave 3 was extremely extended, and in this type of wave structure, wave 4 correction tends to be brief, if my forecast is correct, it means that wave 4 has played out already at the 23.6% re-tracement of wave 3 though we might still see 38.2% before wave 5 completes at around 1235-1240, and massive sell will resume to complete 5th impulse wave on...

samuelkken

buyers not yet tired till 115 is achieved

samuelkken

according to Elliott Wave theory, since impulse wave iii was extended, corrective iv wave is expected to completed between 23.6% and 38.2% retracement of wave iii, but looking at the wave structure, it seems that wave iv will still correct to 38.2% and 5th impulse wave will continue, am placing buy order around 38.2% labelled iv on the chart

samuelkken

preparing to buy

samuelkken

GBPNZD is surely on impulse wave, 3rd wave completed , the 4th corrective wave seems zigzag as it develops, we still expect 5th wave to complete around 2.0515 before major correction

samuelkken

in Elliott wave, two of the impulse waves tends to be equal, and in this counts, wave 3 and 5 are equal, normal movement of wave 3 is 161.8% of wave 1 which was completed where I marked iii, secondly, the structure of this movement (there was no swift move) on wave 3, therefore, chances for extension is doubtful. if my counts is correct, it means we are having...

samuelkken

the mkt is ranging and buying is expected to go back to the upper trend line

samuelkken

buying are still in control, we might 114.5 before selling resumes

samuelkken

we still expect 5th wave around 1.146 to 1.147 , still yet 1.144 to 1.145

samuelkken

the main tred on gold is short ie bigger time frame, but we can still see 1212.34 area on long position. we still expect 5th impulse wave to complete at around 1140 area on the down side

samuelkken

gold selling was disrupted by some news, buy next week, the buying will complete on lower tf, then selling will resume to 1134 area

samuelkken

B wave correction is expected to finish around 6600 -6500 area, the buyers will take over to complete C wave

samuelkken Updated 

first trendline has been broken, zoom in to daily tf and you will see the bigger tredline is about to be broken and selling will be big if it successfully broke it

samuelkken

as trendline has broken, there is more buying