I don't need to say anything, this is an absolutely gorgeous setup. Entering long at market during Sunday open with a wide enough stop below the 16 bar mode should work really well. I'll look into scaling in every chance I get from the 4h chart here. Initial target is the triangle's top by June 22nd, potentially extending to meet the balance point, which matches a...
EURCAD has one more week left to reach 1.47561. If it doesn't, it will most likely turn into a short with a 1 weekly ATR stop. 13 week CCI is showing bearish divergence, and we're close to 6.18 std deviations from the linear regression of the downtrend from high to low (figured it was an interesting value). Rgmov is stuck in a range, not putting out any new...
As the title says, there's a confluece of the daily uptrend signal with a 4h uptrend signal. Both point to the same time for expiration of the bullish momentum. Since the top I initially called in my other chart (see related ideas), crude fell down in a potentially impulsive manner, implying a resumption of the long term downtrend was at play. I still think that's...
It seems that USDCAD has hit rock bottom, reaching a strong support level showing buyers have emerged at this level. The fundamental landscape has been very negative for the US dollar but I think this time the unexpected will happen and we will see a rally. Buying after this bar closes, as long as above the blue line is a good idea, but we can also attempt to buy...
Similarly to USDCHF, this pair is correcting after a strong move up. Watching price action for a long entry. Tomorrow we have a considerable amount of news that will probably help fuel the next big move in this pair. Will update with the setup. Good luck, Ivan. Update: Waiting for the correction to end here, news should take care of it. Once we have 99%...
I think we're seeing the beginning of a strong uptrend, this just being the first leg up. Now, after a week heading straight up, I expect to see a retracement from this weekly fibonacci resistance, which lines up with a low volume resistance area in the 4h chart, as well as a highest low trendline resistance. I got out of my longs and looking to rejoin the move...
Price has skyrocketed in the short term, but it's now up against a weekly downtrend mode resistance. The daily uptrend signal target has been exceeded ahead of time and it would seem like the right time to turn into a contrarian. Waiting for bearish signals to confirm this speculative bias. Rgmov is warning us already, showing no new highs diverging vs price. The...
Setup on chart, there's a weekly background going but we might see a swift retrace on BOC news today. I expect an explosion after the NY opening bell. Good luck! Ivan.
It seems like the move off the top of my supposed 5th wave was indeed the 5th wave of an extended 3rd wave of a larger degree. Time at mode might suggest the bearish time and price target if we get a strong move down at the open. I'll be looking to sell at the weekly open, to then rejoin the bullish trend until the 5th wave completion. Should be an optimal entry...
Similarly to EURAUD, EURNZD presents us with a very interesting long opportunity. It would seem as if the Euro pairs have taken a breath before climbing higher overall, potentially even EURUSD, but I'd rather stick to these two (and maybe EURJPY) for a long trade. I'll update EURJPY briefly, for now I leave you with this chart, I believe it paints a pretty clear...
Thanks to 'The working trader' for bringing this up. This is my own take on this pair. The chart shows the time at mode bullish setup I'm looking at for entry. I suggest buying the dip if possible. I'm seeing potential for a very large move to the upside, favored by an uptrending rgmov, completion of the downtrend signals in the recent decline reaching a 0.786...
I spent a long time analyzing this pair, contrasting views with my colleague Nick Coulby, who specializes in Elliott Wave analysis, and working on my own time at mode analysis of this pair, as well as adding the result of insightful discussions held at Tim West's 'Key Hidden Levels' chatroom, regarding this topping pattern, as well as the patterns in the gold...
The levels on chart are very significant, as evidenced by the price action around them, and how the trend signals targets and timing of said trends respects time at mode guidelines. I identified the end of a quarterly downtrend, in time, byJune 30th, which isn't far ahead, and a new quarterly downtrend signal that points to further declines in the long term, with...
Yesterday's upper movement failed to cut through its EMAs, disabling any further movement that would break the consolidation it is going through, it has been a week. Breaching 44.33 will send Oil south to 40.26, with 42.71 as a primary objective. Breaking through 45.85 will send Oil towards be sent towards 46.36, which breaching will induce a rally with 51.54 as...
Two inside days means we are about ready to rock with Crude. This is a clean flag and we still like the upside but BE MINDFUL THAT CRUDE can go either way. There are a lot of factors at work with oil. Don't be a hero and guess. Wait for the market to tip it's hat and look for a trigger.
Oil rejected the pennant, as it has breached 44.85, though the main slope was a bit high. Yesterday's upper failed to cut through its EMAs, which suggest the trend to be bearish. Breaching 44.33 will send Oil south to 40.26, with 42.71 as a primary objective. Only by breaking through its EMAs, Oil would be sent towards 46.21, which breaching will induce a rally...
Oil seems to have rejected the pennant, it cut through 44.85, which will send Oil back to 40.26, with 42.71 as a primary objective. Only by breaking through its EMAs, Oil will be sent towards 46.65, which breaching will induce a rally with 51.54 as an objective. The EMA10 is cutting the EMA20, which suggest the trend to becoming bearish. Volatility was low...
Crude is getting closer. We are still monitoring around the clock and will drop down to a lower time frame and look for triggers. We still like the upside but with crude you never know. When she breaks she will most likely move quickly and far. Keep on your watch list.