If we are still in the middle of green wave b, there is a sub wave c to catch If however the pink a-b-c is the end of entire correction, the potential decline would be one degree higher Also note: pink wave b may not be a FLAT (sub wave {B} retraced less than 80% of sub wave {A}) nor a ZIGZAG (sub wave {C} did not exceed the end of sub wave {A}). Therefore...
We just finished an ABC correction for wave 2. Wave A, if you zoom in, shows a very clear 12345 impulse. i.imgur.com Wave B is an ABCDE rising wedge, which I mistaken for a 12345 leading diagonal in a previous post. Wave C is another 12345 impulse, completing the 5-3-5 zigzag. Wave C also happen end at a 1 to 1 Fibonacci Extension from wave A, creating a...
Traders, Previous GBPJPY development from 135.595 ( end price of (a) corrective wave) has completed unfolding into a corrective Zig-Zag pattern to 152.862 (end price of (b) corrective wave) Labelled in minuette degree, a. - b. - c. and subdividing 5-3-5, the Zig-Zag can be ‘proofed’ using fib-price-ratios. What can be derived from this Zig-Zag is that GBPJPY...
Traders, GBPAUD has been in a corrective structure since 26.10.2016 probably coming to an end, followed by the last 5th wave completing, in the bigger picture, an expanding flat pattern. -On the main trend 1-5 (circle), 1st motive wave has ended at 1.91858. The main trend has perforce ended there as it could not have been another wave count which didn't violate...
This pair has form a nice perfect zigzag visible on D1 chart. Top down analysis on W1: - 0.61 fib retracement - strong level of S/R - pinbar (shooting star) - WXY structure Here at D1 chart: - perfect ABC zigzag with its internal subdivisions (5-3-5) - corrective channel - price bouncing from top of channel We could enter short here: - Stop loss above round...
Traders, EURAUD is in correction since 01.06.2017, and this is an attempt to identify the patterns in order to understand the bigger corrective structure of the 4th (4 circle) corrective wave. We need some more info which would make the analysis more accurate but taking some standards into account, we can build a trading plan. Looking inside at the potential...
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In my original post of Pound Sterling’s Prospects - seeing through the “Brexit” fog published just before the UK’s Brexit vote, a significant low was anticipated towards the late 2016 and early 2017. That low formed in October 2016 at lower than I anticipated. Since then a sustainable rally was anticipated which due to overlapping swings has not bee easy to ride...
CAD/JPY has been locked inside a huge triangle consolidation since November 2007. Wave (A) decline from the high of 125.56 to a low of 68.37 in January 2009. Wave (B) was a time-consuming zig-zag that rallied from 68.37 to 106.51 in December 2014. From this high wave (C) lower to 74.82 followed and since that low wave (D) higher to 96.92 has been developing....
USD/SGD - Closing in on strong support near 1.3300 It has been a while since I last updated USD/SGD and as it's close to strong support near 1.3300 it's about time to do so. USD/SGD saw a nice five wave rally from the August 2011 low at 1.1994 to 1.4546 in January 2017. The following decline from 1.4546 is clearly in three waves and is now closing in on strong...
Here are my continued thoughts on BCC. We're currently in a descending triangle and probably going to enter into a double ZigZag Elliott correction wave. Who really knows for sure, but the pattern seems tone setting up. My target is still ~$600 for now. Check out this resource and let me know if I've missed anything: www.elliottwave.net
It's possible we're gonna see an additional leg of the zig zag (Z), which would mean it'll bounce off $560 again or move lower to my first target of $520.