- Wave 1 finished -
- Wave 2 in the making - ''correction''
- Looks like- A wave pullback in a bigger ABC correction
- Possible short term '' sell'' down to fib level.
- Then turn to complete the B wave
Here is a possible 5th wave setup on EURGBP on the Daily timeframe, also my fundamental indicators says that EUR is stronger than GBP so I can hope for higher rates in this asset.
*Disclaimer*
All ideas published here involve risk and does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
NZDUSD is making an ABC correction on 1H chart, you can buy the bounce off the trendline+0.382 fibonacci which would be a nice confluence or for a more conservative entry wait for the breakout of the trendline before buying.1st target would be 1.27 extension and 2nd target 1.618 fib extension.
Previous 4th wave double topped at 14.29
As per original setup sell 15.10
TP 14.15 (4:1 reward:risk) has been adjusted to TP 14.1875 (3.5:1 reward:risk)
Trailing stop currently 14.90
From the chart it is clear that we going down in impulsive move, currently oil started the 5th wave down perfectly finished 4th wave at 61.8% i personally expect sub 25$ and even 20$
Expecting a reversal for the Pound to the upside in the near future. However at this moment I am inclined to sell as for all the indicators (structure resistance and moving average resistances). Without resisting current price developments to the downside; I will observe this subwave count to progress in its final wave v, before we resume trending with the bullish...
Hi all,
My previous publication suggested that price last week would reach out to the 0.786 retracement for a harmonic completion before resuming the last impulse wave of the superceding structure. It hasn't quite done so (yet). However on the likely that this bullish correction is over and that we won't see higher prices in the near future, I will anticipate...
Today's drop penetrates deep enough into a support zone to consider the risk to reward ratio of a long position. The long position would be based on the current drop being wave iv and that means a wave v higher may begin soon. This pattern is valid so long as prices are above 121.49.
First target would be 124 and a secondary target up near 125.35.
Below 121.49...
Following progression of price can be observe in coming days.
There is a opportunity of about 1200 - 1800 pips in coming days
***** I am new to Elliott Wave, and starting my new journey with Glenn Neely's book *****
I went down to 5 min charts to find my answer to what has been a difficult sequence :S
SO far we have had 2 textbook 5 wave sequences Up with the ABC retraces ..They only show up on 5 min charts :S
REallY REally CLear on LTF .. I was astonsihed ... as in I hit the long button 100% 20x once i saw it !
(Thanks to joker for helping me do the analysis ) :)
We are...
We have had a massive bull trend on the Cad and finally a decent retrace to relieve the pressure
HTF we are still in Wave 4 and looking to exit higher
Our entry is 4th wave of the sub wave in an obvious impulsive move
Wave 4 sitting on a long term support resistance (green line)
Going with the trend wait for a nice entry as we should be hit T1 1.2660 and...
