I didn't plan on doing any analysis today but one of my training course clients shot this over the chat and well...can't pass up on a valid Cypher pattern. Here's to 2016, let's see I can pick up right where I left off. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com
Must see good breakout with large body candle to confirm the validity of the pattern.
BITSTAMP:BTCUSD Elliot Basic behavior ;) iMPULSE LEG: Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave one gains; Can never exceed the start of wave 1); wave 3 = 161% ext of wave 1 (can never be the shortest impulse wave); wave 4 = 38.2% of wave 3 (can never overlap wave 1 ); wave 5 = wave 1 CORRECTiON: Wave A =...
XAUUSD (ANTI NEN STAR PATTERN) SHORT
Can we expect a collapse of the Europezone? *As Goldman predicted* A Monetary divergence This step is likely to be followed by the Federal Reserve's (Fed) decision in the opposite direction to raise interest rates for the first time in nearly a decade at the December 15-16 meeting, Just Playing & Guessing Possible scenarios for the hereafter.. 2015 / 2016
Morning! Looking at the correlations in excel for today, EUR/USD + GBP/USD have a very positive correlation (93.9) for the hourly This means USD is countered, i.e it becomes EUR/GBP > also waiting on retracement from the FIB EXT level of 127.20%, this will complete D, and will be a good time to sell if the price reverses from that area. Elliot Wave - I have...
Breakout accrued followed by test to the neckline.