EURCAD has made a down move and was correcting for while which now has completed..It would go down around 1.5000 levels again to make C Wave move to complete the ABC correction. One can go short on the pair now with stoploss just above the high that was made..
Trend continuation style . using some Fibonacci extensions and inversion combined with ABC pattern ,
FX:USOIL ;) Safe Trades;
C leg is currently on 61.8% fib retracement and shows rejection from the previous trendline resistance. D extension target 1.272 lines in perfectly with my plotted major support. Target just above major support so the trade does execute according to spreads and just in case a reversal was to happen just before touching the uspport. Stop loss above the monthly and...
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I think that the trend continues towards point 5 and then follow the abc wave.
Gold has made an A-B-C correction which looks like completed giving a Buy Setup for targets of 1127. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype: sirajhudda Email: contactus@prowaveanalysis.com Facebook: www.facebook.com Twitter: twitter.com LinkedIn: in.linkedin.com
We are in corrective structure after a 5 wave move up on USDJPY. We seems to be in the latter stages of an end to the correction. Overall a breakout to the upside is expected. Remember this is a Daily chart, so it may be sometime before it pans out. Price zone to note is 119.50 - 119.00. Price action in thhis zone would give clues about what possible correction...
If the corrective ABC is to complete at the equidistant trendline support, there may be opportunities for short term scalping to the upside.
Looking over the AUDCAD the daily has broken through a trend line resistance. The 4 hour shows a classic 5 wave structure. It would be reasonable to expect a break at the top of this wave 5 as I see it into a corrective pattern. On a shorter time frame I will be looking for long setups until this wave 5 trend line has broken through. This is for my trade...