NZDJPY seems to be forming a 4 of C of (4) correction. PA is showing bearish signals in a PRZ formed by a bearish Wolfe Wave and bearish deep crab harmonic pattern. I expect price to begin turning around in the demand zone , where previous wave 4 structure, Wolfe Wave target line, and .382CD all converge in a confluent S/R area. For the long entry, SL is...
On the 4h chart of EURCAD, we see that price was trading in a correction, because of a slow and sloppy price action. That said price made a double zig-zag labeled as red waves w-x-y. We think that correction might be over because of a sharp fall to the downside labeled as red wave i-circled. A recent pullback to 1.4984 could be red wave ii-circled, and now we may...
Gold has a couple of bullish interpretations listed below. Before I get into them, even though this piece is about 2 bullish interpretations, the market can prove both of them wrong so please don't expect this to be 100% correct...nobody has that magic wand in their hand.
The preferred count is the wave 3 higher written about 2 weeks ago is still alive, albeit...
One of most popular, and also simpliest count is ZigZag with Contracting Triangle as B..I think a correction up is ahead to go lower.. hight of corective wave is opened but I do not expect much more above 38,2% where also entering into wave A is near by.... if 50% will be hit then also Impulsive C wave of Flat is possible..
So... in my oppinion both lows are in...
EURUSD has potentially completed a minor wave 2 correction and may be ready to resume strong bullish movement in wave 3 of (3). Entry above S/R after breakout with SL below top of ((i)) of 1 (movement below this level will invalidate EW count). 0.5 of primary bearish impulse is an aggressive target, yet not out of reach with an upcoming 'third of a third'...
#EURAUD on Weekly chart looks very nicely following zigzag pattern. As the major trend is down, so current move looks to be unfolding corrective Zigzag pattern where wave-A and B are done and wave-C is ideally targetted to be equal in size as wave-A.
Good luck !!
DISCLAIMER: This chart is intended for research purposes ONLY, and is NOT intended to suggest actual market trade decisions. Please consult a licensed trader or perform your own research when performing actual trades.
Gold triangle breakout was on the high side. If the 4th wave was a triangle, we would expect breakout to be short. I have re-evaluated my wave...
Like some kind of triangular madman went haywire with his ruler, patterns galore appear before us in this pair! How to make sense of it all? They seem to be all kinds of ways and giving conflicting directions!
Well, yes. They are giving conflicting and confusing signals here and would seem to be useless in helping to determine what to do now...if you only looked...
Last week, the Kiwi hit the top end of a target range we have been watching. How much, if any move is left?
On the heels of the RBNZ 25 basis point rate cut today, some cracks are beginning to show up in the NZDUSD foundation. Governor Wheeler suggests this is it regarding cutting for a while and prices have rallied today. 6680 may provide resistance in the...
In my last chart I suggested that a possible ending diagonal might have form a low above 1.08350 which failed hence the flat correction of 3-3-5 in now ruled out.
However the overall larger time frame picture is not changed much in that since the May high price action is correcting the move of the March low and is not a resumption of bearish cycle. The main...
*LT = Long Term
*ST = Short Term
Last week, I posted a long term analysis on this pair outlining a bearish flag being formed on the Daily Chart and outlined a case for going LONG on this pair. I also posted a bearish crab pattern which hit target 1 for +206 pips.. (see Related Ideas: "UPDATE #2: EURUSD Bullish Crab Pattern - A Case To Go LONG").
Well, this...
With the recent release of the Employment change and unemployment rate both being positive and the up [coming FED hike for the USD an increase is inevitable IMO.
This bullish CRAB pattern that I had mentioned in my previous post (see Related Idea: EURUSD: Top Down In-Depth Analysis - Bull BAT and CRAB Pattern) was quickly completed today upon the opening gap down. And now, prices have bounced from the PRZ of this CRAB putting in a nice pin bar within the PRZ.
Don't overreact to this gap down as being any kind of...
Spent several hours analyzing this pair for what's happening both short and long term. IMO, my analysis reveals that prices are heading towards a strong support zone area around 1.11000-1.10000 with a confluence of factors lining up around that support zone. Before I go into detail about those factors, let's take a look at what's happening overall from a top down...
EURUSD has been in correction after big decline. The first correction was a Flat one 3-3-5 where I thought the market would reversed and make a new low.. however, the decline was just in 3 waves a zigzag and from there a rally in 5 waves can be seen.. Which creates a scenario of a W-X-Y correction.. Flat(W)-Zigzag(X)-Most likely zigzag(Y) having a 5 wave count as...
We assume that wave B will be a Double Zig-Zag, because of its three wave structure in wave (w) and now wave (y). The price may reach the Fibonacci level of 0.5. After wave B is completed, we are expecting more weakness ahead in wave C.
In my last published chart some 2 months ago following the spike low around 151, I made provisional adjusted to the wave counts to reflect the price action still suggesting that the bearish cycle is still in action and has further to go. The reason for this was that bounce from 150 - 300 in not in clear 5 waves, rather it is in 3 swing zigzag.
Hence, in making...
