Hello everyone, In the middle of the week it became apparent that EURUSD is also forming a triangle during its correction. It's symmetrical as it should be, and as I've counted for you it has all its 5 waves complete and clear. I've already shorted this pair hours ago when it got rejected off the upper trendline, but I'm sharing this idea now because I feel...
Hi again, We're near the end of the week and setups keep forming! This one is also a bullish symmetrical triangle. First by looking at the higher time-frames we did expect a rally in gold to correct the Intermediate Bearish wave that completed. The rally was fast and strong and it is currently resting at a symmetrical triangle for its b wave in order to make...
Hi everyone, This week has been quite slow. Now at the end of the week the trade that I've been waiting for the whole week is about to hit entry. This setup is so powerful that I'm gonna have multiple entries at different levels, so in case the price doesn't get as low as I planned, I don't miss it. As I posted in a separate idea, CADCHF had been stuck within...
After NFP and some choppy movements more data is now available for our Wolfe Wave trade setup. I've zoomed in on the 1hr time frame and identified the 5 wave down move of the wave ((v)). We're currently forming the wave (iv), After that the last wave of the Wolfe Wave will form and we're gonna place our trade. I've updated the entry price to the 1.272 extension...
The "d" leg has bounced off the trendline perfectly and is heading downwards. We're currently sitting in the "e" leg of the triangle, so it's a crucial moment. Once we hit the lower trendline the price will jump up out of the triangle and a new bullish 5 wave move would be on the way. I'm putting my buy orders at around 0.843 where it takes the same amount of...
Hello again, I'm witnessing a perfect, textbook Wolfe Wave setup in our greatest pattern forming pair, EURUSD. It's basically a Leading Diagonal, which means it's a First Wave of a new Five Wave down move. But as Elliott suggests, there would be a sharp and fast correction after this 1st wave completes. I've counted the internal waves and as the 3rd wave iii...
Hi, As you all know the long term bias for CADCHF is bearish. Just look at the weekly time-frame. In the Daily time-frame we've seen a correction to the up side (that I called it A leg of a ZigZag) which lasted 201 calendar days. Now I've waited for the B leg correction and as time unfolds it seems to be a Symmetrical Triangle which has already shown its "d...
Hi, As you can see from my chart a pretty rare ABCD move has formed on EURAUD today. Why do I call it Rare? Because it's the classic textbook definition of ABCD move. Wave B has bounced off 61.8% retracement of Wave A and Wave C has moved exactly 1.618 Extension of Wave A. I've set my own SL and TP for this trade. You set your profit target according to your...
Hello again, I hope you're wearing your baseball hat right now, because another Bat pattern is forming and we're getting set to hit it hard and right on the spot. I'm selling EURAUD at 1.4650 right at 0.886 retracement line. With the Stops at 1.4710 at the previous high and the Target at 1.4440 the previous structure high Incredible Risk/Reward on this one (at...
Hello guys, A bat pattern is forming on AUDCHF. IF it gets there: Stops go at 0.8195 Target is at 0.8410 (The Previous Resistance)
Hello Everyone, After a long period of Consolidation in a Symmetrical Triangle, The Crude finally broke out to the downside and did a major drop. So big that it worried a lot of countries feeding on the black gold. Nowadays it feels like people are no longer fan on commodities. They'd prefer more of the greenbacks than golden back-and-fronts. As you see...
In the past weeks gold had shown some extensive bullish correction that made us confused about which Bearish Wave it's actually correcting. This week I came up with a new way of thinking about price movements which I call Displacement and Vector price movements. In this method I use Fibonacci Extension tool to calculate target price for my Elliott Waves based on...
Now a Triple Top has formed on the 78.6% resistance line and it's pretty visible from my 4H timeframe chart. Added to my position with the stops still at 0.86400 and targets at 0.84400 and 0.83500 and for the rest of the positions we would trail our stops and new lower highs form. Have a profitable week. Catch you guys later.
I hope the chart speaks for itself. If you have any confusions feel free to comment. My Setup for this pair is to wait and let the 2nd wave (II) for and hit my Support level at 0.8324. Then I'm going to buy and let the 3rd wave (III) hit its target. After that the 5th wave would also give me a nice Setup if it hits the 0.382 purple line.
Hello again, A Perfect Gartley Pattern is forming on CADCHF and it is confirmed by the bearish Elliott Wave counting. Sell Limit Orders sitting on 0.85670 with stops above the previous high at 0.86400 The Short term profit target is at the previous low at 0.83200
Hello guys, After the recent break of crude oil out of a really lengthy consolidation phase (Triangle), as anticipated we're seeing lower lows ever since. This trending environment makes every Elliott Wave trader happier than any other time. In the previous 14 days we've been sitting in the retracement of the recent down-move. We're heading towards a sweet...
We're currently sitting on a running flat correction after a 5 wave move downwards in Gold. The long term bias is bearish as a gigantic symmetrical triangle has been broken to the downside. Now by using the double top price action as the entry we're aiming for 1097 which is the ultimate target for the new 5 wave down move. I got the 1097 number from fibonacci...
Hello again, Here I'm taking a look at Apple stocks once again. Nothing unpredicted, As you can see from my previous idea I highlighted a zone using fibonacci relations for the price reversal. Now I has bounced off of that area. We're currently sitting in the A leg of an ABC correction move. If you're a short term trader you can look for shorting...