Samuel124

Samuel124 Updated 

Hello traders, Trust you are doing great. Here is my concise Elliott wave view of the USDJP pair. Trend : Bearish (Local trend) initiated at 151.912. Structure : Wave 4 ABC correction, began at 147.150, appears completed at 149.746. Anticipation : Expecting impulsive bearish structure in Wave 5. Confirmation : Await breakout below 148.889 to the...

Samuel124 Updated 

Hello traders, I would like to do detailed technical analysis of GBP/USD currency pair and the potential presence of a bearish crab pattern. The bearish crab pattern is a harmonic chart pattern used by traders to identify potential reversal (correction) points in the market. Let's examine the key aspects of this pattern in GBP/USD, including the retracement levels...

Samuel124 Updated 

Hello Traders, Here is my current outlook on GBPCAD. In our previous analysis, we effectively identified the initiation of Wave 3 or Wave C, and we entered the market at 1.70913 . Presently, GBPCAD seems to be in the final stages of a corrective Wave 4. Provided that the existing resistance zone holds, we foresee a subsequent break of the trendline to the...

Samuel124 Updated 

The GBPAUD currency pair is presently undergoing a bearish trend that originated from the level of 1.99734. My Elliott Wave analysis suggests that the market has likely concluded a five-wave sequence from Wave 1 to Wave 4, and the pair is currently within Wave 5. This is confirmed by the break of the trendline to the downside. This is similar to the GBPCAD...

Samuel124 Updated 

The AUDJPY currency pair has been in a bullish trend since late March, commencing at the level of 86.065. As of the current analysis, it seems that the pair is undergoing a corrective Wave 4, indicating a countertrend phase. This correction is composed of subwave A and subwave B within the larger context of Wave 4. Presently, the pair appears to be in the process...

Samuel124 Updated 

The USDCAD currency pair has recently exhibited a noticeable five-wave impulsive upward movement. This analysis suggests that wave 5 of this impulsive move has concluded at the level of 1.3791 . Consequently, I'm anticipating a corrective ABC wave pattern to the downside. At present, my analysis indicates the potential for the support level at 1.36892 to be...

Samuel124 Updated 

EURGBP appears to be on a medium-term uptrend that began on August 23rd at 0.84922. Here's how it's been progressing from Elliott wave perspective: First, there was a move up to 0.86105 (Wave 1) . Then, an ABC correction in wave 2 brought it down to 0.85239. The uptrend continued in wave 3, reaching 0.87094. After that, a corrective wave 4 formed a triangle...

Samuel124 Updated 

This is a brief intraday analysis of GBPUSD. Following a recent downward trend, I anticipate a corrective movement in three waves to the upside. It appears that the first phase of this correction has either occurred or is close to completion. From a Wyckoff perspective, a trading range has been identified within this correction, along with a spring action. I...

Samuel124 Updated 

The EURJPY currency pair recently completed a 5-wave upward move, terminating at 159.773 . Now, it's in a corrective phase. In my analysis, the larger corrective wave A likely finished at 156.568 . Currently, the pair seems to be forming a contracting triangle as part of corrective Wave B, after which we expect a drop in wave C. Here's the key: If the...

Samuel124

The global trend on USDCHF is bearish. The recent price action in USDCHF suggests the conclusion of a corrective wave of a higher degree wave 4. This corrective structure appears to have ended, potentially paving the way for a significant downward movement within wave 5. In light of this, I'm anticipating a five-wave impulsive decline, with a minimum target set at 0.85546.

Samuel124 Updated 

Hello Traders, The initial perspective I held regarding this pair has been disproven by subsequent market developments. Hence the need for this update. As it stands, given that we don't have a combination, it appears the ABC correction in wave 4 might have been fully formed and we have now seen the smaller degree wave 1 of larger degree wave 5. If this scenario...

Samuel124 Updated 

Hello traders, Here is my EW Analysis of the GBPUSD Currency pair. Market Sentiment and Wave Count: My bearish sentiment on GBPUSD remains intact as the price continues its downward movement, It is important to note that the price recently encountered strong resistance at the 1.2746 level, a development that underscores the strength of sellers in the...

Samuel124 Updated 

Hello Traders, Here is my outlook on CADJPY. Based on the current analysis, CADJPY has completed wave 3 and it's currently undergoing a corrective wave (b) within the larger wave (4) structure. The upcoming movement is anticipated to initiate a downward trajectory in wave (c). Subsequently, a rally is expected to conclude a larger degree wave (5), which is part...

Samuel124 Updated 

Greetings Traders, It is a pleasure to reconnect with you following a brief break. Here is my EURCAD analysis. EURCAD ANALYSIS Taking a long-term view, it is apparent that the EURCAD has been experiencing an upward trend, as evidenced by its movement within an ascending channel. Notably, between April 17th and 26th, there was a substantial rally of...

Samuel124 Updated 

Based on my analysis using Elliot wave theory, it appears that the NZDJPY is displaying a strong bearish trend. The wave patterns that I have observed across various timeframes suggest that the market is likely to experience a downward movement. Specifically, when examining the H1 chart on both intermediate and minor degrees, it appears that wave 3 (down) of a...

Samuel124 Updated 

The USDCHF currency pair exhibits a marked bearish trend over the long and medium terms. In the short term, a clear bearish price action has been observed since March 21, characterized by a series of lower highs and lower lows. Analysis from the Elliott wave perspective suggests that the corrective wave 4 of the impulsive bearish move has been completed, and the...

Samuel124 Updated 

CADJPY has been observed to be in a bullish trend that was initiated on the 24th of March. From the technical analysis, it appears that the pair has completed wave 1 and 3 of the impulsive move, with wave 3 delivering a considerable 280 pips gain. The wave 3 appears to have peaked on April 4th at 99.185, and since then, we have seen a decline in price, indicating...

Samuel124 Updated 

Hello Traders, Here is my long term view of USDJPY: USDJPY has been in a bullish rally since mid-January 2023, with wave 1 as a leading diagonal and wave 2 as a corrective zig-zag pattern. Wave 3, the longest wave channel, unfolded from March 24th to June 30th. It appears we are currently in wave 4, which is expected to be a sideways movement, possibly a...