Here is a the potential classic wave 4 formation. This should thrust down out of the triangle and then bottom and reverse if the assessment is correct. In a classic triangle, each subsequent wave should not exceed the path of the previous wave. and the triangle itself should not at anytime exceed the previous wave 5 termination. There are numerous other...
The price action on the EUR/USD this week suggests a possible wave 2 "Triangle". Although more common in the wave 4 position they can form in wave 2 as well. It usually means the price is coiled up quite a bit and thrusts out quite strongly. The break of 1.1050 will be telling. If this does hold true then the chances are wave 4 will be a ZigZag ABC. Time will tell.
I just wanted to post my view on how i see EURUSD wave structure. This pair is in a corrective structure overall and what we might see is one more move to the down in order to have a five wave pattern completion. A smaller five wave pattern has completed into a upscending triangle where we will keep an eye for a breakout to the down. If the breakout happens just...
EURUSD is nearing the completion of wave-(e) of a possible contracting triangle that could mark the end of wave-(2) before the three-of-C breakout. Entry at AB=CD inside of wave-(e) is confluent with the completion of a bullish cypher and may act as a catalyst for the bullish impulse. Long term target is placed at A=C. It is possible that another rebound off...
BCEI may have completed an ending diagonal at the end of wave C of a zig-zag correction. This could send the pair on a rally toward its price target at around $9. In addition to the wave count, the current level is confluent between .618A=C, 1.786i=v, and iii=v which are all important levels to watch for support and resistance, especially toward the end of the...
In my last post we met a pending bullish gartley which didn't completed as price moved higher. If price continues moving higher we will soon have this time a bearish gartley pattern completion both with a 5-3 Elliott wave cycle. The fib ratios of this one are almost perfect so we have a very good sell oportunity in this one. Stoploss and profit targets as shown...
EURUSD is currently rallying with a second impulsive wave toward the top of the declining channel. The pair may see some resistance at these levels as wave-(c) did not surpass the start of wave-(a) and a sideways symmetrical triangle may be underway prior to the continued rally. The channel resistance may add to the bearish bias at these levels. I am still...
USDJPY has completed wave-C-of-(iv)-of-((5)), which means the consolidation phase may be temporarily complete and further bearish price action may be forthcoming. In order to catch the fifth wave movement, it is best to enter at a point which minimizes your risk and maximizes your reward.. This setup shows one way to utilize multiple strategies to supplement...
Hello, "El Dorado" Traders! Best regards, Powerful Traders!
USDJPY has completed wave 3 of a potential 5 wave structure. The pair has broken a trendline to complete wave (i) of 5 and is retesting the trendline at the .618 retracement To add resistance, the 200 EMA and SMA lines sit above price and below the SL level. The daily pivot may also add resistance near entry. Entry is placed at 61.8% retracement with SL above...
AAPL has completed a five wave impulse and has been in a pullback since February 2015. Since wave-(A) was a three wave move followed by a pro-regressive 3-wave (B) rally, we can expect wave-(C) to be counted as five waves in a 3-3-5 flat. At this juncture, it is difficult to predict how deep price will consolidate after wave-3-of-(C) completion, but we will...
As per the weekly chart, the trend seems down and it reflects on daily chart too. It has made double top and then retraced back to 1089 levels and now it is ready for the correction wave C. one can wait for correction to 1071 for confirmation to short this stock for the target of 989.
EURUSD may be entering a strong rally through wave-iii-of-(iii), providing an opportunity to take a long position with a R/R of 9.36. The larger C-wave is an expected 5-wave impulse considering wave-A was also counted as 5 waves (5-3-5 zig-zag). Since a bullish 5-wave-(i) was corrected by a zig-zag decline and a price was rejected at the .786% retracement of (i),...
On the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish...
AUDNZD has completed the "e" leg of an expanding triangle in a complex triple three correction. Triangles commonly mark the end of a three wave reactionary wave and thus an upcoming bullish move may be impending. A possible cypher will make for an optimal entry long. In the case of the triangle continuing to 2 or 4 additional three wave moves off of the...
EURAUD has entered a corrective structure after completing a five wave impulse. This iis a setup to trade iii of c toward the completion of a bullish cypher pattern. The cypher PRZ is confluent with previous fourth wave support and the 50% retracement of the impulse. Entry is triggered on the break of the trendline with SL above structure highs and target near...
USDJPY has completed a bearish Gartley pattern in a corrective wave structure. The flat correction may be treated like a double bottom so that a long trade can be entered at the .618 retracement of CD, a common Gartley target. The 1.618 extension target for the 2618 trade coincides nicely with previous wave 4 resistance and serves as a nice TP zone. A short...
A pending AB=CD pattern is about to be completed with its D point at 0.618 fib level of the previous impulsive upmove. Having this pattern completed we should have the end of the correction of that impulsive wave. The best way to trade this pattern is to wait for CD wave breakout. Then we can go long with stoploss just below D point wherever it forms ( i will...