It appears 5 subwaves of a Contracting Triangle have completed in wave 4. It looks like this Contracting Triangle may be the full corrective move of wave 4 since it has reached the .382 fib retracement of wave 3, this is the most common retracement for a wave 4. It also appears to have ended near extreme of wave 4 of one lesser degree in the impulse which is...
Wave 1 suggests investment may stall around 2600-2742.5 for end of wave 5, however if not worn out already may breakout even further.
i thought it would be interesting to see if markets correlate or react differently with a switch of party (R-D, D-R)
Prior to the 07-08 mortgage crisis is highlighted with the light colored rectangle. Nothing conclusive yet,...
Hello dear traders & welcome back to Growing Forex
Try creating pockets.
Micro news to follow today which will change the outcome of EUR/USD.
1.ADP employment change.
2.Unit labour cost
3.Non-farm productivity.
4.10 years note auction.
Euro poised against the Dollar after gaining momentum previously & lost its shore today.
A possible recovery from 1.0560 levels...
GBPUSD has been in correction for sometime, since its seems like a triangle correction, we should wait for the fifth point E to be complete before selling.
CADCHF wave count now has a different outlook from the bearish one posted at weekend. Corrective triangle structure seems to be valid as well as the price extension outside corrective pattern. Possible buy orders could be seen at current levels to new highs. However we will wait for price to close inside triangle pattern again to open any long positions
VEDL is very close to completing a 5 wave structure that started in Feb 2016. We are currently in wave 5 of 5, which should complete very soon. The stock has given almost 5x returns in 1 year, expect the correction to be relatively sharp.
Price is moving under the down trend. We should monitor to make sure that it won't crosses the down trend line (red one), when it bounces back, it means end of current rebound, then follow the trend in the last wave. Using Fibonacci, we predict the end of fifth wave at 0.9916
Seems that USD/JPY pair is making a 12345 Elliot wave's last impule in February.
Strong support @ ~112.6 which is Fib. 38.2% of second impulse (2)-(3).
Expecting to go UP, but only up to a trend line formed from last years'
End of elliot wave formation, trend is going to reverse (short term) heading down to lower fib retracement 78.6%.
Technical analysis can be confirmed by fundamental analysis if there are no surprise with the USD ISM and USD FOMC rate decisions.
Eurnzd has been making a very nice supercycle structure and is almost finished and ready for a large long impulse to the upside.
Patience is key here, so watch it closely and don't forget about the bigger picture.
Daily MACD and RSI divergence with a 5 wave structure close to finishing
4 Hour MACD Divergence
1 Hour MACD Divergence with 5th wave stopping...
