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...
Hi To All
In my opinion corrective Wave 4 is still active
A = 12345 Near to completion at 1205
B = ABC Still to come
C = 12345 Still to come
Plan :::
Short from 1205 till 1140 ( For B of wave 4 )
Long from 1140 till 1230 ( For C of wave 4 )
Wave 5 is Short from 1230 till 1085 /1055
This is a long term plan stay in contact
I will be guiding on the way...
