A flag is near its completion point. I expect it to break out to the top (as is it a continuation pattern). If it does so, the next probable target is near the previous structure around 15.46000 which also completes a 1=1 abc correction. Let's see how it plays out.
We are at previous support which coincidences with 50% retracement of the last swing. I'm aiming for a retest of the previous top for the least.
We've seen divergence in an overextended post-NFP bearish move to reverse at the 1.618 price projection and 78.6% retracement of previous up-move. I'll be buying at the break of the structure and I'll be shooting for the tops for my first target. Let's see how it turns out.
The Current upward movement looks corrective confined in a channel with overlaps. More more time has elapsed than the previous bearish impulse.
This is an update to what previously was a setup to ride the 3rd wave (wave iii). Now I believe it is completed and we are currently seeing the completion of wave iv as well. I have set my own setup in the chart. I hope you can benefit from it.
Trendlines for the first Upward Wedge converged to where finally became our Fake-Out. It's 50% retracement from the bearish Impulse Wave. I'm shooting for the lows. It's the least I expect from this setup.
Fundamentally Swiss Franc has a lower interest rate than most of other currencies out there, including USD. This will help it depreciate against them. Since mid January 2015 and after the CHF shock we have been in a steady uptrend. This uptrend got corrected to near it's 61.8% advance and now we are seeing a possible upward movement again. The correction took ...
We recently broke the Support in USDCAD in the Daily timeframe and started falling sharply down. I tried to assign the Wave Counts for this down movement up until now. We're currently facing a bearish contracting movement with overlaps in a bearish background which is called an Ending Diagonal . Some call it a Wolfe Wave and as Mr.Wolfe suggests the upside...
We have a big ABC countertrend move: A leg is a simple impulse B leg is a beautiful abc move C leg is an ending diagonal (Or Wolfe Wave if you prefer) For the Wolfe Wave setup the shorts could be taken now, but the problem is that the stop placement is gonna be too subjective. For the longer term ABC pattern trading I would have a more probable and...
Fundamentally Aussie is believed to be overvalued against USD according to its Central Bank Governor, Stevens. Until the market realizes this fact and starts making lower lows in the Daily timeframe, I stay bearish on this pair hoping to be on the right side of the market. Technically we've seen lower lows starting this week and have made our way to the...
There is no doubt that the bigger trend right now in most of the USD pairs has remained bullish and fundamentally speaking there is no reason behind the recent USD bear moves but profit taking of the massive long positions. Remember: Nothing moves in a straight line Now about the technicals: DXY fell sharply last week in a fashion that has happened once a...
Hello everyone, Wave two has the shape of a beautiful abc pattern. The time of the Wave 1 is equal to Wave two. The whole setup looks like a gartley pattern.
Massive Bearish Background Gartley look-alike 5 point pattern pointing down Huge wicks to the top Shrugging off the recent Unemployment improvement in the Australia by showing only fake-outs to the top
I hope the chart is clear. It's a pretty simple setup that has the combination of ratios, trend lines and a pretty decent measured move (balancing both time and price with a 1 on 1 ratio). The whole range looks like one of those famous continuation patterns.
Just a test to look for a bear move
Hello Ladies and Gentlemen, Last day we had chaotic selling of USD which pretty much looked like the C leg of an ABC correction. The drop in DXY ended yesterday also, with C leg being shy of 1.00 times A leg. Now I have a short setup in NZDUSD (and even a better one in AUDUSD) and it's combined with Median Lines for synergy. ( Borrowed the word from Jim Kane's...
Some close ratio convergences sit in the trading zone. I've been really conservative and waited for the initial 1 hour bounce off the area to support the trade. This is the first time I'm trying to trade the end of an Irregular Correction. Let's see how it turns out. The Stop is one cent below the C leg low. The initial target is at the previous high. If it...
Hello everyone, It's been a while since I could find a great setup and here it is. I tried to make everything clear on the chart and combine both Elliott Wave analysis with ratio trading (which is really hot these days.) As the chart suggests we have started a higher degree correction in USOIL from 13th of January. Whether it's a correction or a New bullish...