As you can see in this 4 hours chart what had happended with the new highs in the EURUSD do not affect the ending diagonal scenario that we had been observing since the 2Q 2013. The only change is the confirmation of an shorted-time wave 4th correction.
This is an example of the J Livermore Swing Trade technique: The trading rules: Up trend series of higher highs and highers lows Down trend series of lower lows and lower highs To start watching for a new trend this must have advanced: 4% or more since the last low (up trend) or last high (down trend) To enter a new trade in the new trend the price must also...
As you can see, the fibo retracement from wave A is 1.382 % which is a common level for wave b extension in expanded flat, if this is right the chances are for the price to get down to the zone between 96.92 and 96.55
Think the upside wave could be interpreted as leading diagonal starting the actual wave v)) therefore the normal should be more retrace before a new strong move to the upside
In several ocations I had explained that a H&S as any other technical formation in forex needs to be extra clear and convenient in order to be tradeable, in the USDCHF think this is not the case, due the long rise in the last shoulder. You must consider that one of the factors that appeal traders into a H&S is what Alexander Elder calls blood hound effect,...
Few ideas about it: The up sided movement is not an impulse, is an ABC correction, followed by a Expanded flat The a) wave probable could be a w wave for a combination (more probable if you ask me) The impulsive wave to the down side is about to end. If you speak spanish ill post a video explaining in more detail this reasoning.
Change has not yet occured in the bullish scenario but this could change fast if the last dragon fly doji lack of concensus among the buyers. Observe that we have a channel that as far as now has failed to break trough the 1.5750 zone, and if the 1.5417 zone is broken the projection for this channel breakup is as far as 1.50 which will make a cluster with the...
Even if todays close do not get as low as todays lows, meaning not be a nice decisive down candle and therefore a evening star, the reversal was in place since yesterday with the formation of the shooting star. With this reversal and the lost of momentum expresed by the AO, the chances for the price to form a nice double top increases Trade it will deppend up on...
Here today let me explain the 2 main ways to get a minimum proyection for a triangle in the traditional technical analysis: 1) Proyecting the side of the triangled opposed to the break out: this is in the last years the less common proyections recognized by technical analyst, the advantage of this proyection is that recognize the fact that fast movements often...
Even when is possible this scenario due both traditional - technical analysis and elliott wave, there are a few things that makes me be skeptical, as far as now: Under the traditional technical analysis, the pennant formation, needs to break above the 1035 to be clearly out of the triangle and therefore trigger the continuation formation. Under the elliott wave...
Observing the Wheat daily chart we can observe a five allmost completed, started with a leading diagonal followed by a combination for wave ii, then a clear and extended wave iii, and an another combination (a bit shorter in time than wave ii) an then what seems to be a ending diagonal. If wave i and v travels the same amount of price, the ending diagonal should...
The Bullish engulfing marked by the last big green candle is a bullish signal among uncertainity, because had been forming a potential H&S that could lead to a decline that could trigger the bearish divergence observed in the last two main highs (@3060 and 3155 aprox) You should remind that a divergence only triggers a potential reversal once the trend bends...
In trading the "timing" is everything ... Well if not everything, at least if it is the most important part, because time entering the mark of a movement to take advantage of expected to see in advance, losing just thinking but if I had seen! And this timing dilemma, is not a minor because we often have to balance between waiting for a better entry, or waiting...
Since the 2000 the economy in USA seems to lost its previous multi decade momentum The easy money to try to avoid this implemented by the fed pushed the 10 year into a ending diagonal The most tricky parts to see of it, are the corrective waves 2 and 4 The wave 2 showed a hard to see at first glance combination of a triangle to corrective wave b followed by...
How do you know if the price have done a nested 1),2) - 1,2 or a simple 1) 2) (with a more extended pattern, if both lows for wave 2) and 2 ends at the very same level? Well there are some guides that can be helpfull, in this post we will go through them to try to find which count (black or red) have more chances. First of all there is the pattern, in this case...
Here is the set up that you want to see when a consolidation is forming: bearish reversal near a resistance zone preceded by a series of long shadow candles (that shows the market is not confidence about the rise) with a clear target zone (the opposed one) for take profit and with a good risk reward ratio Just need to wait to see how this session ends, if...