audcad is estimated to have finished forming correction wave with double combination pattern. may rise strongly as it will form the wave subdivision iii of the 3rd wave. the price will likely test the support at FE level 1, the reason is that the 3rd wave should not be the shortest in the impulse wave rule's. as per my previous long-term analysis, maybe this will...
NZDUSD forms a double three (WXY) pattern with a subdivision of wave Y (premiere degree) is an expanded trianggle. My observations on this case indicate that FE level 1.272-1.618 is vulnerable to reversal. So, I estimate wave E of this expanded triangle will be completed at the FE level of 1,272-1,618. The next few weeks may still rise to reach that FE level....
USDJPY formed a double three pattern that has been confirmed completed. buy right now, the target is attached to resistant 111.95 and 113.30
Hi Guys, This idea is just for educational purpose, many traders are out there trying to figure out what kind of pattern is making in AUDNZD, I took some time on this, and come to result that this thing is complex corrective structure name as double three or WXY. that whole abc is zig zag plus zig zag correction and zig zag Y wave. it will be amazing how it will...
Elliottwave Double Three correction in the making ?
Dollar is going to continue it's growth against Renminbi (CNH, CNY). Breakup of triangle would start the upside impulsive move. Target at 7.12
The main thing - the break below 112.57 (low 18JAN2017) invalidated the previous count. I think we are in abc (blue) correction before another drop down. The blue C can surpass the top of blue A. The break below white support line would confirm the start of another drop down. Targets are between 38.2% (111.99) and 50% (109.93) Fibonacci retracement levels.
This is my preferred count for USDCAD - obviously expecting a Flat to complete the triple-three C wave. I say preferred because there is a possibility of an ending diagonal (replacing the overall WXYXZ structure) as the Y wave of Cycle degree. Learn more about Elliott waves
Elliott wave WXY Double three combination seems to be completed with a ZigZag and a running flat. So is the 3rd wave in progress? Read the Elliott wave principle for more information about the WXY double three correction. very likely so. But awaiting a corrective 2nd or 4th wave in a lwer degree is a good idea. The direction is clear in terms of Elliott wave...
Similar structure to AUDJPY. But this pair should have more momentum than AUDJPY. Another ABC down is a possibility. But with divergence there is a high probability that the correction is almost complete.
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 first phase of the corrective structure is a clear flat. The second phase is underway, so it could be either the green triangle or the red ZigZag. If it is to be the triangle we should see a clear reversal at the Blue trendline resistance to complete the last leg of the triangle. On the other hand, if price clearly breaks the Blue trendline resistance, then we...
Last week, the Kiwi hit the top end of a target range we have been watching. How much, if any move is left? On the heels of the RBNZ 25 basis point rate cut today, some cracks are beginning to show up in the NZDUSD foundation. Governor Wheeler suggests this is it regarding cutting for a while and prices have rallied today. 6680 may provide resistance in the...