Since March 18 2014, FX:XAUUSD is experiencing a down trend corrective structure, and still in this trend.
Since May 05 2015, XAUUSD is going to complete a Cypher Pattern.
Coincidentally, the end of Cypher Pattern and the upper of the Corrective Structure are both around 1190.
Now the price is around 1155 (50% level of Fibonacci, XA)
Buy at 1170 ((61.8% level...
GBPJPY was in a corrective structure before 22th Jan. It experiences a breakout at 167.90, and change its long term downtrend. Now it has passed 23.6% of Fibonacci (from 163.98 to 184.97)
Buy at 172.04
SL 164.02
TP1 177.04
TP2 180.11
Corrective structure on EURUSD is developing into a double three formation. So another move down is of high probability. But even before a sharp move down we might see a sideways movement for the whole of next week. None the less if this structure is broken with a sharp move up, I will be looking for long opportunity. Until it does that, I am looking for short...
On the daily TF, we are in the midst of the fifth and final wave of an expanding ending diagonal, counted as C of an ABC zig-zag correction. The monster buying opportunity will be at the completion of this C wave, however, we may be presented with a short term long opportunity with a R/R of 8.5. The current count is wave-b-of-(c) in a potential flat correction...
EURUSD is currently rallying with a second impulsive wave toward the top of the declining channel. The pair may see some resistance at these levels as wave-(c) did not surpass the start of wave-(a) and a sideways symmetrical triangle may be underway prior to the continued rally. The channel resistance may add to the bearish bias at these levels. I am still...
The FX:CADJPY is in a 4 hour corrective structure. It looks like downtrend in these two weeks.
Now it is experiencing a short term uptrend.
Sell at 81.40, stop loss 81.70, take profit 79.50.
EURAUD has entered a corrective structure after completing a five wave impulse. This iis a setup to trade iii of c toward the completion of a bullish cypher pattern. The cypher PRZ is confluent with previous fourth wave support and the 50% retracement of the impulse. Entry is triggered on the break of the trendline with SL above structure highs and target near...
