Watching AUDJPY closely we can see that price is testing a key resistance level where a bearish AB=CD pattern has been completed. Actually its waves represent the correction pattern abc of a 5 elliott wave cycle (circled numbers). In addition we can see that at the same level we have an ABCDE corrective pattern completion (wave 4) of a larger 5-3 elliott wave...
Price in AUDJPY has completed a 5-3 elliott wave cycle (truncated fifth wave) with abc being a flat correction. At the end of wave C we can see a bat pattern completion with its D point testing a key resistance zone (triple top). The pattern has a tremendous risk/reward ratio more than 7:1. Like and comment, John
Price in EURUSD is moving into a nice rising channel having already formed ABC of a five wave ABCDE corrective structure. In my wave count we are close to CD wave completion where a nice short setup may occur. Watching closer we can see that price is moving once again in a smaller rising channel and it needs one more move to the down to complete the CD wave of...
I decided not to count waves with this one as we have a very clear picture on the chart. USOil after a huge sell off, climbed with a sharp move breaking a medium term resistance level (blue trendline). For the previous days it's in a corrective structure moving into a descending channel. If price moves lower we will have the completion of a bullish butterfly...
Very powerful potential short setup in AUDCAD. Reasons: - Bearish Gartley pattern - Bearish AB=CD pattern with D point exactly at the same as gartley's - Key horizontal resistance zone (purple zone in chart) - Elliott wave cycle 5-3 completion - Overall trend is a downtrend If price reaches our gartley's D point at 0.786 then we'll have a high probability...
Price in gold is moving into a triangle having already formed 4 waves of wxyxz corrective pattern. We need one more move to the down to complete the pattern and at the same time wave B of a larger ABC pattern. From there we will probably see a rally but that's for later. At the moment price is testing the upper trendline of the triangle after a abc move. We can...
In the previous days i've watching Dax closely. Yesterday i came with a post explaining that dax is in a corrective structure ready for a sell off. Looking now to the chart i have indetified two harmonic bearish patterns, a bearish gartley and an ab=cd pattern forming in a key resistance level. In addition we have an abcde corrective pattern completion at the same...
Although my overall analysis in silver shows that price moves to the down, we now have a high probability long setup. Price is testing a key support level (black trendline in the chart) and has formed two harmonic patterns with both their D points exactly at the support level, bullish gartley and a bullish ab=cd. Speaking in elliott wave count, we have a...
A nice bearish setup has formed here in Dax. Price is in a corrective structure having already formed an abcde pattern. E point has formed where price is testing a long term resistance level ( black trendline ) and a short term resistance ( the upper trnedline of a rising channel, the purpple one in the chart). A nice way to trade this setup is to move to a lower...
Now seems to have found a good entry point, if the wave count is correct, will be the biggest falls of C - c - 3 waves, I will stop on the highest point of the C - c- 2: 1130, the target price to refer back to my ideas.
A couple days ago i posted an idea with a bearish setup in the GBPNZD. The main idea was that price is at a key resistance level and after a sell off we had a 5 move down breaking a short term support level. I mentioned that we should expect for an ABC correction with C wave ending at about 0.618 of the 5 wave move. Price is doing exactly as i predicted so i...
USDJPY is moving in a corrective structure (triangle) clearly in the 4rth wave of an elliott cycle. In the chart we can see a pending bearish bat pattern with D point at the upper trendline of the triangle. In addition we have a wxyxz completion in this corrective structure. For profit targets we can aim for the lower trendline of the triangle which gives us an...
Last week i shorted GBPUSD and this trade is been working very well till now. Price is heading towards our initial target but i have already trailed my stoploss for excellent profit. You can see the progress of this setup in the related link below. Let's analyze now a new setup which looks very strong. Price is moving in a corrective structure into a nice...
It's been a month since EURAUD is in a corrective structure with price moving in a nice horizontal channel. Watching closely to the chart we can see that price needs a small sell off, to complete a triple three WXYXZ pattern. At that point we see a pending bullish gartley pattern which will trigger our long position for this pair. As for profit targets the top...
Looking at the higher timeframes we can clearly see that GBPNZD since April is going up in a very sharp way. Price now tests a critical resistance zone which is easy to see in the monthly chart. In the daily chart we have a bearish divergence with RSI something that adds a lot to our thought about shorting this pair. In the lower timeframes (1h, 2h) we have a...
After a sharp move to the upside, price has completed a typical 5-3 Elliot Wave cycle. At the end of C wave we have a bearish gartley pattern completion. At the same level price tests a long term resistance level. I believe with have the odds on our side with this one. Like & Comment..!
Audjpy is moving into a nice bearish channel and it needs a little more to the down to complete an triple three corrective structure. Having completed wxyxz elliott wave, we have the completion of wave B of a typical ABC correction pattern. At that level we will keep an eye for a bullish harmonic pattern in lower timeframes or a breakout of xz wave which will be...
Audusd has completed a 5 wace cycle to the down with wave 5 ending at a major long term support level. What we expect now is price to start a correction with a bullish divergence with RSI adding to that. I have already enter with a long trade, but another way to trade this market is to wait for price to break the resistance of the channel (black trendlines), wait...