This trade idea is the once in a million years one. I still can't believe my eyes when I see these crazy confluences. First EURJPY started a 5 wave down move which I marked on the Daily timeframe with the green elliott wave lines. Then it completed the whole down move and started to retrace the whole down move as an ABCD move to the upside. For this it formed...
I've been watching this pair today and found a beautiful Head and Shoulder forming on the 4H chart. Now the neckline is broken. My strategy wants me to wait for the completion of "wave iii" and buy the pair at the "wave iv". This is just for a more conservative entry. The target from the classic guidelines is the height of the head to the neckline which...
Hello again, We're currently sitting in a medium term correction of GBPUSD and the current trend is bullish. The previous resistant has been broken and if you want the longer term idea of what GBPUSD is doing check my other trade idea. Now the price is coming back down to retest the previous high of 1.6612 and I'm expecting it to bounce back to the top to push...
First off, as elliott wave counting suggests we are sitting on the 4th wave of the new down move which is forming. Now for the 4H time frame we recently bounced off the 38.2% retracement of wave 3 but unfortunately this level didn't hold and gold has rallied through it starting today. Now we're looking at the formation of a bat pattern as you can see from my...
Heads up for the Bat pattern guys. I'm still bullish in GBPUSD for medium term also.
Hello again, This time I'm taking a look at AAPL chart. It has shown an unbelievable move to the upside since god knows when. But what concerns traders in these situation is, when they see tremendous moves in a direction, they get both scared (that it might end and reverse) and greedy (that they're missing out all these huge profit). Now I've done an elliott...
Hello, I'm looking at the 4H chart for my Elliott Wave counts and we just completed an ending diagonal 5th wave for the entire down swing which started 15th of July. Now I've bought GBPUSD last night and my long term target is at 1.6785 which is the 38.2 retracement of the whole down move. If you guys missed the last night rally wait for a retracement to 38.2...
We're currently sitting in the 3rd wave of the supercycle bearish move that started back in May 2014. In this 3rd wave we're currently sitting in the 3rd wave of it and as I mentioned in my short term trade idea for this week, this minor 3rd wave is going to end at 1.3205 and start correcting to the upside. As the completion of the 3rd wave of the 3rd wave lies...
Hello again guys, I'm here once more with a trade idea about a nice looking pair, CADCHF. As you can see from my chart the Head and Shoulder pattern is completed and the neckline is broken. I've also included my elliott wave counts and my targets. The targets are based on Fibonacci Retracements and Projections combined with S/R. (If you don't believe in...
2 Weeks ago we were caught up in a nasty range for EURUSD - which in this chart I've marked it with an "abc" correction for the previous down move. After that we continued falling down and as you can see I've marked the 5 wave sequence for this fall. Now the interesting part that I noticed right now, I've drawn a fibonacci projection for the wave 1 after I...
Euro has been retracing today and price action shows it is coming to an end. From my chart you see a perfect rejection from 61.8 retracement of the recent down swing and then moving up again to be rejected from the 78.6% and 88.6% zone. In the case of another rally to above 1.33 resistance I will short the EURUSD from the rectangle area which is a perfect...
First for the long term we've has an up trend from the start of this year. Then it started to retrace and it broke through 38.2 with a gap. Now it has gone sideways in 50-61.8% zone and it has a great confluence with a previous support from April which also was a 61.8 retracement. In the shorter time frame (4H) we can see a head and shoulder pattern forming -...
USDJPY is entering a major psychological level @ 102.000 and miraculously it sets up perfectly with the 78.6 reversal ratio of the Gartley pattern that has been forming earlier. I'm looking to short USDJPY @102.000 with the stop loss @ 102.2 which is just over 88.6 ratio which might be tested in case of other harmonic pattern formations. My first Profit target...