Used the Elliot Wave Theory and so far everything seems correct. The market will develop a bear form around the 4th wave. Look out for entry points to sell.
The trend is clearly catering towards a bullish market. You can look at the history prior to the market today and see the trend. This has the potential to be a big gain. Enjoy this free money!
After waiting for the initial balance during the first 30 minutes of the opening... I marked the high and low of that duration along with an extended window. The market will establish itself within that time frame. Once the market has established its direction, you will know whether to buy or sale. The current trend is showing a bear market .
Reversal body Candle has been made on D1 candle, the price also retrace perfectly on 0.5 fib level, will see a huge movements On AUDUSD in couple days.
As we discussed in our previous post EURO seems to be topping out as CANADIAN DOLLAR remains dominant against a number of currencies. Looking for further downside to come in this market. If price can continue to the downside and break the support level of 1.4444 this market has significant room to the downside.
I am still learning the markets but a quick mark up of AUDUSD has me lead to believe that the pair will drop slightly and consolidate, before dropping to the macro trend line and bounce off to continue rise.
As you can see based on daily cycles, an EU retrace is incoming.
We have a double cycle ending at the 161.8 FIBO EXTENSION level, paired with a triple cycle. Both cycles ending in a divergence.
To drop shorter TF to 4HR, we have a bearish triangle forming, indicating the pressure of a drop inbound.
I Predict that a EURUSD short is incoming, and may be a very...
Buy above 1.0766. Stop loss at 1.0695. Take profit at 1.0896.
Reason for the trading strategy (technically):
After making its bullish exit of our long term descending resistance-turned-support line, price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support,...
Buy above 1.0766. Stop loss at 1.0695. Take profit at 1.0896.
Reason for the trading strategy (technically):
Price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to 1.0896 resistance (Fibonacci retracement, horizontal overlap...
Hi Traders! :)
Going into the week, I am confident that this Bat Pattern will hit entry.
If it is a loss, it doesn't matter, as the Risk to Reward is 1:135. It meets all of trading criteria and is a fairly clean pattern. Let's just watch and see how we go, we cannot control the markets.
Remember, to trade your plan!
Have a great Trading week :)
Sell below 86.52. Stop loss at 86.75. Take profit at 85.63.
Reason for the trading strategy (technically):
We remain bearish below 86.52 resistance (Fibonacci projection, Fibonacci retracement) for a drop to 85.63 first (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing a nice reaction off our 94% resistance level.
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
Market price has reach the support level which is my entry level for buying the stock market @ 1.0112
and will exit the market level @1.10808 which is my pullback line level.
Calling for all trader for buying the stock entry
@1.10112 option1
@1.09948 option2
@1.09223 option3
Please exit market level @1.10808
shorting UJ @ THIS LEVEL SINCE THIS MARKET HAS BEEN IN A BEARISH PATTERN CURRENTLY TRADING SIDEWAYS IF IT DOES REACH MY LEVEL WILL BE GOING FOR POTENTIAL SHORTS
