Basbaasfx

Basbaasfx

As indicated on the chart, Gold is bearish We are under wave 5 and due to wave alternation principles waves 1 and 2 didn't extended and the coming sub-wave 5 of 5 should extend which will deliver us a good trading opportunities. I can be at a wrong counting, kindly add your inputs in comments below Thank you

Basbaasfx

USDJP is clearly Expanded flat correction pattern. As I indicated on the chart, the clear expanded flat pattern is completely ended and a bullish wave leg started. This bullish wave should break the high of sub-wave B of the flat correction. This is a market commentary please don't use it as trading signal, kindly use the pattern you fully understand

Basbaasfx

I have closely looked the Gold moves and it seems that it is near at the end of Wave 5. This wave 5 is in an ending diagonal, as I indicated in the chart. At current time I am analyzing, the price is at end of sub-wave 4 of wave 5. If this Pattern is ending diagonal, the market should deliver sub-wave 5 of 5 with a target of 1760. Remember this is a market...

Basbaasfx

This analysis is fully based on Elliot wave theory. You can use it a market update not a trading signal. For clarification in the Elliot wave moves indicated in the chart. (1) As you can see the market first moved in 3 waves in which I labeled "W" (2) After "W" the marker developed an other 3 waves in which I labeled "X" (3) After wave "X" the market developed...