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
Very basic set up. I believe USDCAD is going to sell to the 31.8 fib level, which is also in confluence with a mini structure level: 1.33440. Furthermore i also believe its going to sell off as you'll notice its at a key resistance level in which its rejected 3 times already : 1.34131. Moreover, its also decent risk to reward oppourinty.
This is my oppinion about D1 timeframe and i did the entry @ 0.71269
Exit market @ 0.72523
will make another bought entry @ 0.71508
Exit market @ 0.73778.
Expectation pips 253
