Recently we saw that this pair broke the long term descending trendline and last week we cleared the daily level. We seem to be in an ABC bullish correction.
Watch for bulls to come in and enter with stops below the ABC correction.
Goodluck and trade safe!
EURCAD had a nice impulse up with an ABC correction.
This could be a good buy opportunity as our correction should now have finished and as the EURO strength has some more room for another push up.
Brexit trade deal
Small buy for 220 pips from this level seems worth the risk. However large volume will resume...
Here is my idea on silver .
We have a great opportunity for a C leg.
Make sure you have strict stop losses, mine are: SL: 28.5
Here is take profit targets:
TP 2: 24
TP 3: 23
It’s a high probability trade, so I’m taking profits right at the end $23.
- Could se Zig-Zag pattern form or a Straight move to test previous top, but any how, I leave you with a picture of how to look at The Wave principle.
Plan your trade, trade your plan and trade Safe...
BRK.A appears to have completed the 5 wave elliott wave structure and is showing signs of downward movement.
It seems to be creating a 5 wave structure downwards, which would be the A wave of the corrective cycle.
Wave 3 is currently in progress and I would anticipate some consolidation around the trend line to confirm the 3rd wave continuation to the negative fib...
Here i see an inverted H&S pattern with a impulsive 5 wave Elliott wave completing the head, and an ABC correction starting the right shoulder. I Believe this ABC will once completed, cause a wave 1 completing the right shoulder, wave 2 will be short lived with completion of the H&S pattern which will then be the wave 3 of the next 5 wave impulsive Elliott Pattern.
It can bounce from the 78% (and this is the fib level for a cypher completion point), already with RSI divergence, but i need to believe the price will respect the structure first, then the harmonic, that said, i am waiting a deeper abc correction close to the structure and also an RSI below the lower band at 20's (oversold)