Hello my friends,
Today i noticed some good setup from GBPCAD. Previously this pair make an inverted shoulders head pattern and then push straight to the upside for 700 pips in 2 weeks.
I tried to fit some fibonacci tools into it and count the waves according to Elliot Waves principle. Surprisingly, it looks like this pair just finished with the 4th Wave.
Wave-4...
Many people asked me what will happen if the invalidation level gets broken!
3 thing might happen next week:
1- the invalidation level never gets hit and we will have a crazy down trend (left chart)
2- the invalidation level will get broken. In that case we will assume that wave 3 is extended and you can see the scenario in the right chart. the price will go up...
After a 3 month 1500-pips bull run by AUDUSD from 0.5500 area to 0.7070, price start to exhaust and has been moving in a sideways direction for 1 month since 10 June 2020 to 10 July 2020.
In my opinion we could see some correction from AUD now as there is also a fundamental issue regarding COVID-19 second wave.
There is a triangle pattern forming, and price...
Hey tradomaniacs,
welcome to another free trade-plan .
Important: This is meant to be a preparation for you. As always we will have to wait for a confirmation.
EUR/USD: Day-Swingtrade-Preparation
Market-Buy: 1,09930
Stop-Loss: 1,09320
Target 1: 1,10510
Target 2: 1,11000
Target 3: 1,11450
Stop-Loss: 61 pips
Risk: 1%
Risk-Reward: 2,5
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Here's my view on BTC, as we are correcting im keeping a close eye on the reaction at the $9170 monthly level and the 0.382 Fib level.
Hopefully we can get a nice bounce of these levels to continue the bull trend.
Time will tell.
Goodluck :-)
I am not prepared to make a recommendation but I am intrigued by the company. It is in the renewable energy space. Fundamentally, the stock is a bit overvalued with P/E, PEG and P/B overvalued but it is in the solar energy sector. I am including my current wave count and would look for entry into the stock between 30-35 for what I expect eventually will reach $50+.
AMZN recently completed a bearish Wave 5 impulse move. Now that Wave 5 is complete, I expect AMZN to retrace back to the Wave 4 high at 1840, 120 points from current levels.
Price has been on a two month long bearish run. A Consolidation can be spotted between the 9th of January all through to the 24th of January. This consolidation can be considered as the first LH of the spotted trend. Price broke out of the 0.65846 support level, this was a confirmation signal that the consolidation is over and a bearish price continuation would...
BTC has started again a new impulse wave, this time could reach a new ATH of this year, probably the target will be around 9400 - 9500 then after will be there an ABC correction
GOLD had an impressive consolidation day today. Even though technical indicators (MACD, RSI, Bollinger Bands) show that its overbought, it didn't give much on the downside and is now showing strength as the session closes.
I'm still anticipating an attack on the highs in the first few days of next week... (green channel indicates projected route).
NOT...
This is a great concept I truly do believe in. Although this is a bit of a mid-term analysis, I think this will be great to trade with. If your not in a long right now, don't think you should get in at all because I think we will have a small retracement on the wave up here.
Short will be a great one to play with for sure! Enjoy!
This correction looks to build out further, but before it can do that this flat correction as I see it needs to complete. High level of interaction at this level, and some lower time frame transition already. R/R is 4:1 so solid opportunity.
