As per the educational post posted recently, we have now a corrective break as price failed to break the key level. As a result, price created a complex correction. We are now looking for the correction to break and get in on the next big impulse!
See linked chart for the education post regarding impulsive and corrective breaks.
Goodluck and Trade Safe!
Bitcoin has been in a steady uptrend and providing us with clear impulse and correction. Naturally after an ascending correction, we expect a reversal (short term or long term depending on the market structure). As we have had an ascending correction, we are waiting for price to create a base where there's clear buying pressure.
The ideal place to look for buys...
GBPUSD has been making steady impulses and correction. From the corrections you can see that they are usually ABC 3 wave corrections but we are now seeing a abcde correction for another move lower.
Watch for rejection of the level indicated and short for the impulsive phase.
Like this idea for updates!
Goodluck and trade safe1
GBPCHF could be on the verge of a bear run. But first, we require a break of the zone indicated and the long term ascending trendline.
Wait for an impulsive break and the bearish correction before getting in. We're anticipating GBP weakness overall.
Goodluck and trade safe!
Identified a clear bullish trend and key support and resistance levels.
Currently prices have bounced off support level but there is still time to get an entry before an impulse move to the resistance.
Identified a clear bullish trend and key support and resistance levels.
Although price has moved off the support, previous price actions show that it is possible for prices to drop back down before an impulse push.
Our EURNZD short from a couple of weeks ago has played out perfectly. See linked chart below.
We're not waiting for a clear impulse up before considering longs on the retest.
There's a high chance that price might react from 1.73500's psychological level, only to finish its major corrective move and to begin an impulse one, to the downside.
Going to the lower timeframes, we can expect to see price giving signs of a reversal, from that key level, breaking previous structure lows. But, before that, price might be manipulative....
The targets for the break of the previous channel (sent to our students) were hit perfectly, before we saw a retrace back down. The beautiful thing about the retracement is that it appears to have moved directly into a new descending channel.
I think we are likely to see a little more of a dip before this pair moves away, but i for sure will be looking for longs...
The count I have for XLM has us already done with the wave one and potentially working on the 1/2 of the A.
Its always possible that I have miss read the subdivision of the final 5 and we get another move up but we are close to a top here ether way.
I recommend if you go short here to use a stop above the high. its better to take a small loss and re-enter, than...
So this is the count I'm going with for now but there's certainly alternate counts, so if i do get a chance to short ill be keeping it small.
The real trade here is to wait and see if we can get down to my buy zone. if we do then we have a great candidate for a larger degree 1/2.
Upon analysing every degree, something was common. And it was that the next wave is upwards. The fashion or the type of wave it is going to create is not that important to me just yet, as I am aware that it is forming an impulse wave overall in the 1 Hr time frame. I believe in the 1 hr, it is completing its second wave and entering into a strong third wave, and...
impulsed down from 3 touch ascending, bear flag continuation to head lower. filtered o the 15M set order on the break of the mini ascending within the flag, just got triggered in so i'm live in this position. no no BS here lets see how it plays out
broke the daily double top then price retraced instead of heading for the outer structure, currently creating a bear flag to head lower looking for the 3rd touch of the flag before entering short. if we trickle to the 3rd touch of the flag then risk entry and if this trade commits ill be looking to hod it long term at leas t to the low of the pattern
