See some more downside ''Possible C-wave'' completion Potential move up near-term.. Watch for possible ''ending diagonal'' on lower time frame for market reversal
Bearish wave IV is in progress as an ABC ZigZag , Currently The bullish AB labelled by red box Wave is forming
Wait for break out. Zig zag may continue the trend or move into complex structure.
From Jan 2016 till Aug 2016, the price action is in a correction phase. Now it has formed a Bullish AB=CD Pattern which also represents a zig zag pattern as per the Elliott Waves Principles. This indicates a short term bullish trend reversal with targets as below Target 1 (0.236) - 432 Target 2 (0.382) - 461 Target 3 (0.618) - 610 Stoploss: 380
After a break the development goes on (!) (look at "A nice Flat!") and it seems to become a ZigZag with an internal subdivision of 5-3-5. The oscillators are at resistance levels
B wave has 2 possibilities. ABCDE Triangle and a simple ABC ZigZag. Looking at the sentiment of other EUR pairs ABC ZigZag seems more likely. Only time will tell. Nevertheless there is plenty of time before the C wave starts. Short term sharp movements to both sides are a possibility in these conditions.
Last weeks strong close at 149.65 confirms that wave A from 244.80 to 134.13 is complete and a zig-zag correction to at least 176.28 and possibly 189.35 will be seen over the coming months in wave B. Wave v of A turned into an ending diagonal and once this formation is complete a return to the origin of the ending diagonal should be seen in half or less of the...
Corn is tracing out a major complex correction in wave B. This correction began way back in late September 2014 and has unfolded as a zig-zag from the 2014 low at 318 to 443 as wave W and has been followed a zig-zag decline in wave X from 443 to a low currently seen at 319. The X-wave could be complete and if this is the case, then a break above short term...
I expect a C wave down to complete the Zig Zag. Wave (A) five waves down, wave (B) three waves up and waiting for the next (C) five wave down.
A picture perfect five wave decline has been unfolding from October 2014 high at 244.80 to June 20 - 2016 low at 134.25. This has completed wave A of zig-zag correction and wave B will now take over for a rally towards at least 174.35 and likely even closer to the 50% corrective target of wave A at 187.80. So after have been short almost 2 years it's time to...
Silver is trying to break above the Inverse S/H/S bottoms neckline near 18.00 and more importantly above resistance at 18.51. If the later is broken too, then a rally towards the measured S/H/S target at 22.94 should be expected as a minimum, but this rally could easily extend higher towards 25.10. The Inverse S/H/S neckline at 18.00 will now shift from...
The NZDUSD has reached the top of the cloud. This is also the 127% extension of the Zigzag (5-3-5) corrective pattern. Further, this is the 61% retracement of the previous down move. If the cloud holds I am expecting an impulse move down in the weeks to come.
There must be a comprehensive text, but I'm too lazy to write it.
I haven't posted anything on here in a long time so figured I'd post my current trade. This is a very simple setup I have been using for a while to trade on demo accounts and on 1broker. It is a combination of the Stochastic Oscillator as used in Mumbai Scalping set to 5,3,3 And an Ichimoku Cloud. My cloud has been altered to provide me with signals, I never...