Price is respecting the trend line of the daily timeframe creating 2 prevoius shadows at t it so that pus the trend line it is making another confirmation lets wait h how today candles closes if it does below the 50% fib daily and below the trend i would start shorting it with a 1:2 risk reward
Major resistance point here. If the resistance is broken, expect a huge downtrend.
If it shows bullish tendencies, you can expect a continuation of the overall weekly bullish trend.
Overall bullish trend which can be seen from a larger time period coupled with a strong USD means that a bullish reversal can be expected at the next Fib retracement.
price this week broke the strong election formed trendline after 4th impulses to the upside,after the break of the bullish trendline price ranged for about a week deciding where to go ,now after a rejection to the weekly 50% fib and pRZ zone with MP point with the daily trendline forming a double top on the 4h chartat this matching point confirming a retest now we...
Continuing with our bullish trend ,price has made another impulse and formed another structure to the upside above the weekly and daily fib levels and PRZ zone,so im waiting for the price to break this flag pttern before entering a buy
Price is following or major bullish trend,respecting the trend line on every high time frame,creating HH and LHH and also making new high structures above eveyr previous one,another confirmation would be the rejection on every Mp point with the daily trendline with the weekly and daily fibs,after the price breaks this inside triangle ill buy for another 200 pip impulse
Price is following our 4 row channel,creating HH,LH on every time frame ,and yesterday broke our 3rd row trend to go and bounce perfectly on our Mp point of PRZ and trend line zone and nw is going up i wont buy until the flag inside the channel get broken,if it does i mexpecting a 200 push to the upside
price continue to fall and follow its current bearish downtrend,following the EMA trend too,also we price for LL and HL below our PRZ daiyle and weekly MP points ,and adding to a new confirmation we got a forming doji type or mornig nstart on our 4h
Following the trend as we always do,we gonna sell it again,now that we have many confirmations continiun tellin us to sell,like the structure adn 4 row shadows formd below the 38% daily fib and Mp with the trend line and S&D zone going thru the blue pool expecting a push a lil below the 61 weekly fib
We see a continuation of the weekly and daily bullish movement with a rejection evey time on the trendline now tha price hit yerterday MP with the S&D zone,3rd leg impulse and created a shadow above them im predicting another spike to the upside
Price did exactly what i was expecting on my previous analisys,now we still having as confirmations the 5 shadows Mp with weekly ressitence and 36% weekly fib and daily 61% fib,vey very good set up also pprice needs to complete the 5th impulse
price has been consolidating for a week after the big impulse to the upside 2 weeks ago,now im waiting for the enxt impulse to start and break the 2h structure range placing a buy stop also we see a see a strong rejection and 5 shadows formed below the 127% weekly and 23% daily Mp
Price keep making HH and LL,and respecting the MP points based on the daily and weekly fibs and trends,so im expectign another push up to the upside to 115.80 or 116.14
we got a very very good set up here for gold wit ha perfect risk reward ,my confirmations are:
4 matiching points on the daily and 4h:
-daily trend line,strong daily TA PRZ zone btwn 23% daily and 61% weekly,4th impulse of waves
very very good set here guys
Talking Point:
Technical Strategy: Confirming it's bearish outlook
Elliottwave View: Reversal confirmed and counting impulsive waves
Analysis
AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We were experienced a bounce from 9170 area in May-2015. However, upside was...
Price is getting rejected on an big daily resitence,but we gonna wait before entering a sell until the price breaks our blue daily support,break bullish trendline and a break thru the 61% 4h fib retracement.
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Price has broken below horizontal and trendline support, meaning there is now bearish emphasis. Support has been found at 1.15, but I am expecting a retest of previous support before price continues to fall.
Targets would be the 50% and 61.8% fib levels
