zhipengcfel

zhipengcfel

Gold has broken out of the bearish channel line and confirmed the bull flag up. It is a good opportunity to buy again with TP1: 1353 TP2: 1365 Good luck for everyone!

zhipengcfel

Silver is in a complex correction currently. It contains a regular flat correction and a triangle correction. It is a good opportunity to buy when it breaks out of the triangle. The target is around 21.1 or higher if it breaks previous high. Good luck for everyone!

zhipengcfel Updated 

Oil broke out of the triangle at 45.9 this Thursday and it is coming to bottom of the decline channel. It will have more room to down if it breaks the support of the decline channel line. Please refer to the flowing charts to compare. Compare with CLQ2016 the price has already broken the rising channel. The price might go to around 40 in the following...

zhipengcfel

Both are possible. I will wait the confirmation to open positions. Good luck for everyone!

zhipengcfel

SPX had a regular flat corretion last year and begining of this year. Now it is coming to the top it formed last year again. Will it continue the correction or start the impulse wave? Price action will confirm itself. I labeled the possible target if it start the impulse wave or continue the correction. No confirmation, no trading! Good luck for everyone!

zhipengcfel Updated 

EURUSD broke out of the rising channel at Brexit. Now it is in a triangle correction for a week. It is a good trading opportunity when it breaks out of the triangle. The target is around 1.083. No confirmation, No trading! Good luck for everyone!

zhipengcfel Updated 

It seems that silver retested the break trendline and got supported. It might go higher to 21.2. The first target is around 18.55. Good luck for everyone!

zhipengcfel Updated 

Gold was bottomed at December 3rd last year and was confirmed at December 17th with a double bottom. I made an elliott wave analysis previously and pointed that the five waves down were finished and would start a three waves correction. From elliott wave analysis the wave A correction has raised from 1046.23 to 1263.37 with 70 days. Then it underwent an...

zhipengcfel Updated 

Oil has been in consolidation for four weeks and comes to bottom of the rising channel. This consolidation is a flat or triangle correction which acts as wave four likely. The wave 2 is clearly a sharp correction. Two corrections fit the alternative rule very well. Oil might start the wave 5 up if it breaks out of the consolidation area. Go long if it breaks...

zhipengcfel Updated 

DXY broke out of the bearish channel at Brexit. From elliott wave analysis, the large correction which lasts for more than one year might have finished. Now it is retesting the channel support. It is a good opportunity to buy it when coming to 94.8~95.3 supply zone with SL at 94.5 TP1: 96.7 TP2: 98.3 TP3: 100.2 If it breaks 96.7, it will confirm a double...

zhipengcfel

AUDUSD breaks out of the resistance level at 0.75 and confirms a nice cup and handle pattern. From elliott wave analysis, it will continue the correction for going up. It is a strong sign to go long with SL at 0.745 TP1: 0.76 TP2: 0.781 TP3: 0.81 Good luck for everyone!

zhipengcfel Updated 

EURUSD has broken the rising channel last Friday (see below). From elliott wave analysis the current sideway is more like a flat correction. The wave 2 is a clear zigzag correction. They fit the alternative rule very well. If EURUSD is on the wave 5, the first target is the bottom of the sideway zone. Break out of the flat zone will confirm more of the...

zhipengcfel

UKOIL has a similar structure with USOIL which might have finsihed the correction wave 4. Break out of the resistance zone at 50.5-51.2 will confirm the start of wave 5. It is a good opportunity to trade the wave 5 if it was confirmed. Trading suggestions: Go long when it breaks out of the resistance zone at 50.5~51.2 with SL at 49.9 TP1: 53.3 TP2: 58.5 TP3:...

zhipengcfel Updated 

Copper is coming to a demand zone. The first stage of correction is a clear five waves up which means the rally does not finish yet. It should be a zigzag correction at least. It is a good opportunity to open long at 2.04~2.15 zone with SL at 2.02 TP1 at 2.445 TP2 at 2.565 Good luck for everyone!

zhipengcfel Updated 

We experienced a choppy week in oil market. It rejects back from the resistance zone at Friday with close price much lower than the neck level. It seems that a head and shoulder pattern was confirmed from daily chart. And a potential cypher and gartley pattern are forming. Target for this two harmonic pattern are extremely the same which forms a very strong...

zhipengcfel Updated 

EURUSD is still in the rising channel. I labeled the potential support zone for EURUSD. The fib 0.618 and 0.5 are the important levels to watch out. If it gets supported at these levels, I will close dxy longs which opened last week and prepare to long EURUSD again. Otherwise I will just hold dxy longs. Good luck for everyone! No confirmation, no trading!

zhipengcfel Updated 

Dxy was bottomed at 91.92 at May. Then it rallied from 91.92 to 95.97 last month and came to the upper border of the bearish channel and the 0.5 fib position. It was rejected back to 93.87 last Friday. From elliott wave analysis this rally does not finish yet. It might go up again if it doesnot break out the support zone. Trading suggestions: Go long at...

zhipengcfel Updated 

USOIL topped at 51.67 at June 9th. Then it retraced to 45.83 after one week correction. It formed a bullish engulfing pattern last Friday. I will watch carefully the resistance zone at 49.2~50.1 this week. If it breaks this zone, it means the bull is back again and oil will head for higher. Otherwise it will continue the correction to TP2 (see chart above)....