A nice bearish setup has formed here in Dax. Price is in a corrective structure having already formed an abcde pattern. E point has formed where price is testing a long term resistance level ( black trendline ) and a short term resistance ( the upper trnedline of a rising channel, the purpple one in the chart). A nice way to trade this setup is to move to a lower...
Last week i shorted GBPUSD and this trade is been working very well till now. Price is heading towards our initial target but i have already trailed my stoploss for excellent profit. You can see the progress of this setup in the related link below. Let's analyze now a new setup which looks very strong. Price is moving in a corrective structure into a nice...
Looking at the higher timeframes we can clearly see that GBPNZD since April is going up in a very sharp way. Price now tests a critical resistance zone which is easy to see in the monthly chart. In the daily chart we have a bearish divergence with RSI something that adds a lot to our thought about shorting this pair. In the lower timeframes (1h, 2h) we have a...
After a sharp move to the upside, price has completed a typical 5-3 Elliot Wave cycle. At the end of C wave we have a bearish gartley pattern completion. At the same level price tests a long term resistance level. I believe with have the odds on our side with this one. Like & Comment..!
Audusd has completed a 5 wace cycle to the down with wave 5 ending at a major long term support level. What we expect now is price to start a correction with a bullish divergence with RSI adding to that. I have already enter with a long trade, but another way to trade this market is to wait for price to break the resistance of the channel (black trendlines), wait...
Eurusd is moving into a corrective structure into a nice rising channel. Price needs to move a little more to the down in order to complete a bullish gartley pattern with its D point exactly at the support line of the channel. In addition we can see in the chart that after the gartley pattern completes, it needs one more wave up to the resistance of the channel...
Looking at 4H chart of AUDCAD we can clearly see that price has formed a complete elliott wave cycle. Price went down in 5 waves, and after a typical divergence with RSI it moved up into a correction in 3 waves ABC reaching 0.618 of the impulsive leg (waves 1-5). A very classic cycle.. Having in mind that we are in an overall downtrend this is a very nice setup...
Although Procter & Gamble delivered quarterly profit that topped expectations on Thursday, it marked the sixth-straight drop in sales. Revenue of $17.79 billion was below forecasts and lower than last year's $20.16 billion, as P&G continued to be weighed down by a stronger dollar that stripped the value of overseas sales. More pressure is yet to come as the Fed...
We have had a textbook 4th wave ABCDE triangle and are primed for the final move with a min .618 of wave 1 Nice tight stop at 260 -265 for failure
The linear chart has interesting crossing channel. Now that SP500 has officially marked a wave 5 since oct11, it could be due for a big wave IV since Mar09. This big wave IV could start before year end or be delayed into early 2015 from around 2100 if the santa claus rally happens (which i don t believe in right now against odds). The big wave IV should correct...
I see us close to finishing a B wave (which looks like it was a double zig zag) from a larger ABC zig zag up to reach the top of a even larger Wedge. Here are my ideas of where I see us on a larger timeframe: If A=C, we could have a possible high of around 460/470, but I would rather wait to see how the waves (within this C) reveal themselves to get a more...
An update to the Elliot Wave count I have posted previously. As long as the previous low for wave ii-(1)-3 at around 390 holds then this count looks good. Detailed price commentary including indicators to follow this weekend on my website, hopefully.
Tesla, aka the "stock of 2014" looks like its wild drive might be coming to a temporary end. As much as I love this company, I see us at a temporary top, and I am looking for a shorting opportunity in the 265-275 zone. Wave properties since March suggest we are in a corrective ABC flat, and are close to the B "top". Other indicators such as RSI and declining...
Price has been trading steadily within a long term bullish Uptrend Channel, since Jan 2011 up till today (24 July 2014) Price has recently trace from High of around $81.00 (26 Nov 2013) and found support along the Uptrend Channel Line. We also note a minor double bottom (31 Jan 204 - 16 May 2014) within the Channel. This indicates a reversal of the bearish...
More upside in the second half of 2014 (min 1.40) -> Followed by a decline in 2015 (min 1.20),
Trading is like riding waves. It's like the market is an organism. Every action will create a reaction which is by itself a action for the next reaction. What does this mean to this chart? First wave: Someone bought the bitcoin price up (action). Someone follow that trend to earn some profit and also buy (reaction). It's starts to scalable. And more reactions...
Look at this picture, euro is in the stage of wave 5. in the present situation, wave 5 is more likely to be ending triangle.It has formed dot 1 and dot 2. Dot 3 is forming now. In consideration of daily transaction intensive area 1.4050-1.4100, I deem dot 3 probably in this area. Link dot 1 and dot 3, we will find dot 5. I think CPI of EU has fall to the...
In my analysis, wave 1 began from 2001-4-2 to 2008-7-14.wave 3 began from 2008-10-27 to2011-7-25. Wave 2 is between wave 1 and wave 3. Wave 2 had fallen below 38.2% of wave 1. According alternation principle, I think wave 4 have completed its goal. Wave 4 has reached between 61.8% and 50% of wave 3. I deem wave 5 began at 2014-1-20 . According wave theory,...