Silver has been in a downtrend for days with almost no correction. Now it's testing a strong support zone and will probably reverse to the upside. But i will not jump in for now.. I will wait for price to break a short trem resistance level as shown at the chart and wait for the retest as my entry.
After a sharp rally price in silver is testing a long term resistance level. At that level we have two very important factors which makes me believe that price will sell off. First, we have a completed butterfly pattern (price almost touched the 1.27 level but it's valid to me). At the same resistance level we have a completed 5-3 elliott wave cycle with C wave in...
After a massive drop price in gold has entered a key support zone where it's consolidating. In RSI it's clear that we have a bullish divergence which showing that this sell off it's about to be over. For a proper entry in this one we should wait for a breakout of the short term resistance level. Stoploss should be placed just above the previous swing low and as...
Price completed a five wave corrective pattern and instantly dropped without breaking the lower parallel of the rising channel of the corrective structure. After a new impulsive move once again formed a corrective structure which is now broken and retested. This is great opportunity to go short to this pair aiming as target the lower trendline of the channel. If...
Price has broken and retested a medium term resistance level. At the the same time looking at RSI we see a bullish divergence. Stoploss and profit targets as shown at the chart. If price reaches the first target move stoploss to breakeven to the second one. Like and comment if you agree.!
NZDUSD is still in a corrective structure having completed a five wave pattern. Price is heading up having broken a short term resistance level and having already retested it. I truly believe that price will reach the resistnace of the corrctive structure and it has a great chance to break it. I won't aim for profit targets above that resistance level though....
Price in AUDUSD has completed a bullish gartley pattern at a key support level. Meanwhile we can see that we have a 5-3 elliott wave cycle with c wave being the cd leg of the harmonic pattern. At D point of CD leg we have a double bottom with a divergence with RSI. Once again i will enter this setup with three positions as shown at the chart. If price reaches...
Gold (Weekly) @11 Nov 2015 On the mid-term outlook, Gold is at the final phase of its major downturn from all time high of 1,900 (year2011). Price is forming an Ending Diagonal - typical wave5 pattern following significant downmove or extended wave3. A closer examine of the ending diagonal structure shows that a potential Final Down-Leg (lower degree wave_v) is...
After a clear 5 wave move to the down price is testing a key support zone. Typically after a 5 wave impulsive move we have a correction (Elliott wave) and that's what we are planning to trade. A very good reason to this is that in RSI we see a bullish divergence. Stoploss and profit targets as shown at the chart. As always i will enter this long trade with three...
Still in an uptrend Audusd gives us a nice opportunity to add a position to our long or for those who didn't enter earlier, to jump in. Price is obviously in a corrective structure having already completed wave a and b of an abc corrective pattern. If it continues going south besides of compliting abc pattern we will also have two more harmonic patterns...
The price broken the structure B and most of the time we see if it does that according to Bamm theory it goes to meet the 88.6 of XA, but will it this time? The answer is uncertain. We do not know, but we can make predictions using these tools.
Price in EURUSD being is in a corrective structure, has formed a bearish AB=CD pattern. We now see that it's going down and has broken a short term support level (blue trendline). Stoploss should be placed above D point of the pattern at 1.14990 Profit target should aim for 1.10795 The above managenment gives us a nice 2:1 r/r ratio. Like and comment John
The GBPUSD appears to be in a corrective structure. Price has tested the monthly trend line several times over the past few months and seems to be holding. There is a triangle pattern forming as we see a consolidation while there is also a downward channel. No setup on daily until breakout occurs!
Trade Journal Entry AUDUSD for now appears to be held by daily and weekly resistance trend line. On the 4 hour there appears to be a five wave count, a strong trend with extensions in wave 1, 3 and 5. There is a solid A, B, C wave. Looking forward to seeing if the daily trend-line resistance holds and we see a continuance down, or a more complex corrective...
Counting waves to this one was very easy. Since 2011 price is moving in descending channel having formed the first 5 waves of an elliott wave cycle. A bullish divergence in RSI pushed price higher breaking the long term resistance upper TL of the channel compliting wave A of the ABC correction pattern which follows the 5 waves. Price is now entering a key...
Price in USOIL has completed an 5-3 Elliott wave cycle with c wave testing a key support level. At that level we can see the bottom line of a rising channel and a long term resistance level which was broken last week, now acting as support. A bulish hidden divergence supports more the idea of going long. I would place stoploss below the long term trendline and as...
Convergence of the weekly and monthly trend lines in pair. Historically in this trend line down, the corrective moves have bounced of a .5 FIB. No trade until confirmation of breakout of the 1st weekly trend line W1. Look for entry on the shorter time frame D, or 240. This setup is for my trade journal only and does not classify as advice. Trade safely using...
Gold was moving in descending channel since the beggining of this year with price breaking the resistance of the channel last week. This on its own is a powerfull bullish signal but there is more to add. Counting waves we can see that price is developing wave iii of five of a larger wave 3. When it comes to elliott wave analysis trading wave 3 in a larger wave 3...