Price in GBPAUD has been in a corrective structure since September having already completed a five wave corrective pattern. A sharp impulsive upmove has broken the 5th wave of the pattern offering us a very good long opportunity. But we shouldn't jump in right away. We should wait for a correction of that move and then jump in the market with a buy order
APPL is about to complete one complete wave cycle that started around April 2003 . Currently its in the correction mode that may continue for about six months or may be whole year. Previously, wave (2) retreated 68.3 % of wave one and the upward trend resumed. The third wave (3) was an extended wave with 361.8% movement of wave (1). The fourth correction wave...
FX:GBPJPY Time for a correction? link below Safe trades;
Market is just ended Elliott Waves correction pattern abc and got in to strong resistance zone. If the bulls will be weak continuation of Elliott impulse wave pattern short is expected. Fibonacci 38.6% level of last price swing is in the middle of resistance, as a confirmation of strong zone. We can see two strong support zones.
Wait for breakout of triangle. If upward, we should see the C wave reach at least 1.11445
Idea is based on Elliott wave theory. Fib extensions are used for target identification. Stochastics used for wave recognition. More info (including target/stop loss) on the chart. Good Luck