With what could be wave 3 in place GBPJPY is now retracing. Price should hold circa red 4 of less one degree.
Any significant move below red 4 would cause concern and the alternative count to be considered in that the movement is A B C corrective.
The base channel was breached quite easily and I suspect that we traded a third wave thus offering a pending...
So from my previous post you will see that I was in sells come out at breakeven where it just retraced back to my entry!! Not what we wanted! Now looking into the 4hour TF! i see another opportunity to sell!
With good RR!
this is a okay set up. I will be monitoring this!
Usd is weakening and will soon crash with in a few months markets must prepare for this and will be pricing this in shortly, to add to this the technical's here are as shown simple elliot impulse wave as well as a bearish continuation flag with the wicks touching the 61.8 fib.
Looking bearish on USDCAD medium term. Looking for a move down to 1.395 before retracing up to either the golden zone (61.8-78.6) or the last buy to sell candle, before a move down to swipe liquidity at 1.38, potentially even further to 1.365.
Looking at a risk to reward of 1:10+ - Risk to Reward is an essential part of trading and is something I recommend every...
I've got you FULL info of the current movement of the US30USD until the breakout,
the last update of this idea, is goint to be a start of breakout in the market,
enjoy your follow,
and you are more than welcome to ask anything,
- Mixed signals for trend direction, although we did make a higher high, follower by higher low, the next rally to the upside failed and so I am happy to call this a downtrend.
- From the previous rally down, I can see an area of imbalance that we could be looking to test. After checking in on smaller time frames, the imbalance is still present and I am...
Looking for the last down leg to be repeated, towards the 133.675 area to be safe, although I expect it to go lower.
My trade parameters are:
TIME: 22:34 (London)
Please note I have already entered this trade, I will comment further updates if I find any potential re-entry points.
I won't be suggesting a buy or a sell here but Dow Jones Index is currently forming quite a convincing bearish Wolfe wave pattern.
We have been forming a rising wedge (green channel) for a while since mid-late 2019 and now that the 6th extension has failed above the rising wedge resistant and breaking below the channel support, by using a bearish Wolfe wave...