This pair completed a 3 wave impulse and is now carving out a bear flag. One more move down is possible. I exited long positions in anticipation of this wave down. If this move is in fact the last impulse down, expect it to take about 4 weeks to complete. I am much more interested for the long trade once the down move is finished as it has potential to be a...
Despite having an interest rate cut, the market pushed AUD higher and now is consolidating for 1 more impulse up. My wave count shows that this would be the final leg up before the HUGE fall I forecasted based on the weekly chart. I will monitor price action very closely once market gets into the box, as there is a cluster of fibonacci relationships there.
A couple of weeks ago I posted an analysis on this pair showing a potential 5 wave impulse to start the upside after the Brexit collapse. That forecast was invalidated and now this pair appears to be in a sideway consolidation. With time, price action has developed into a wave structure that is highly predictable. I'm expecting the ABC structure to complete this...
One of the pairs on my radar this week. A buy is triggered if price action breaks out of the descending wedge AND consolidates. I'm anticipating a simple flat corrective structure to ultimately form. Good luck to all who trades this highly volatile but lucrative pair.
My observations on the EUR$ picked up something very outstanding on this currency pair. Note the behavior of price each time it breaks and retest a prior trend line. If the structure is indeed a triangle, then we are going to be in consolidation for quite some time before the down trend resumes. Currently price action could develop in many different ways, but...
AUD$ appears to be in a channel down in what is proposed to be a Y wave. The current X wave potentially could be completed any day now ( see previous X wave duration ). As of now the short trade is NOT ready to go yet so please don't try to jump in on the top. This huge move down could yield some very nice pips if you pair the AUD with a stronger currency than the...
Two weeks ago I published a trade setup for the rally in this pair after its completion of the expanded flat. I even warned that it had the potential to move MUCH higher. Well for now after closely looking at the pair it definitely has the look of an impulsive MOTIVE wave. Next week we should see the last impulse up for the 5th wave before a major corrective move...
GBPCAD is in a consolidation and is making a correction to the downside. Last friday it completed a flag pattern and broke. I will sell any pullback on a lower TF as this pair is ready to go down.
As mentioned in my other post on the analysis of this currency pair, the AJ is in a corrective 4th wave. One more quick move to the upside is anticipated. There are many ways to get into this trade. Use your own entry technique. For aggressive traders, just follow the arrows.
After bottoming out in May, the US dollar has since rallied. However, with the velocity of its movement, I'm having doubts as to whether it is starting a new move to the upside to create new highs. Of course I could be totally wrong and the dollar will shoot to the heavens. For now, my proposal is that it will make one more move back down to complete a wedge...
As we all have heard, the S&P500 made all time highs. Many average stock investors will try to buy before the market leaves them behind forever. Not so fast! While I do expect the index to climb significantly higher, the average investor will not be interested in buying until...well, the top is in and analysts on TV all tell them to buy buy buy. The bull market...
This week ended with GN breaking out of the up trend. This signals the end of the first move up and we're headed down. There are some BIG moves coming in both directions. A three wave corrective structure is expected before a HUGE wave down. Look at June 23rd to get an idea of how big the move can be.
The top appears to be in. Price made a move down and consolidated to give us a nice sell back to the fib levels. Caution is advised as this is a shorter term trade and volatility can be high.
After the Brexit induced selling frenzy, this pair has pretty much gone sideways, hinting that the down move is not over. Euro broke out of the corrective pattern and appeared to have completed a consolidation phase as seen by the deep pull back into a key area. This break out could signal the start of another significant decline. Now nothing here indicates that...
EURAUD is in a massive corrective structure and has come to the bottom trend line and bounced. The most recent down move took a very difficult path down, indicating that the next wave up is likely to be IMPULSIVE, very much like the prior wave up. My long term bias is bullish but I will not look beyond the structure until it breaks out. Every once in a while the...
AUDJPY made an impulse up and completed a potential flat corrective structure. It made an impulsive move up and appear to completed a smaller correction. Target is very conservative but there is potential for a much bigger upside move.
GBPNZD is consolidating near the lows, which is telling us that another move down is likely. Wait for price to break out and stay out before selling. This pair tends to be tricky, but when it moves, you better move with it!
GBPJPY Is making a recovery from the post news event low. It's gaining momentum, so buying the dip is good. A 2:1 risk reward ratio.