It looks like a wave 4 was unfolding as a bearish flag which is a continuation pattern, which supports our assumption of the formation of wave 4. As things stand I am hoping to carefully short this pair and target my recent low.
Everything seems to be going well and yet the price makes another swing which give sellers another opportunity to join thos bearish short term trend to prepare for the final drop.
am assuming that price is about to take shape of a zig-zag as wave B having assumptions that the short term trend of this price looks to be down. And now I am expecting an advance to the upside with some restrictions that price is not allowed to break.
Long term trend looks to be up and I'll be hoping to join the bulls at the level here my stop loss will be logical at. as for noe I am assuming that a further correction down can be expected to form a zig zag type of a correction as wave two, which is a common type of correction for wave 2. For now the analysis remain valid until price breaks the lows that is...
Up here I see a good rejection in price at around the 78.6% fib zone, and now I am assuming it has done its corrective move and have been expecting a five wave advance to the upside. now I am looking to enter this pair with a good technique that will ensure me a logical stop loss.
Regardless of the current support price just got rejected at, I am still convinced that price still has to drop a bit deeper to finish minor wave 4 and perhaps see a consolidation just beyond that support. I am still targeting the 38.2% target, if it passes through that level then I am targeting the 50% level.
A break down of Euro Pound on smaller timeframe. I am assuming that price has done correcting and I am hoping to see more buyers to push the price higher. This analysis remains valid until the near lows are taken out. I always try to make sure that I take low risk trades that is the advantage of the Elliot wave theory it allows you to position for trades of low risk.
The euro dollar long term trend is up and I am convinced that in the near few weeks at least the near highs have to be taken out before it can begin to retrace again.
Amazon looking to finish correcting which has looked like a third wave advance, and after a while of what seemed to be a side ways correction appear to take a form of a triangle. alternatively a double zig zag might be forming as a complex correction but it is the nature of trading we make decisions based on assumptions nobody knows exactly what will happen....
After last time anticipating a fall but nothing has changed I still se a fall on this pair and hoping to join sellers using a good trading plan. As it looks price seems to have finished its wave c rally and will be hoping to make a turn at this point. alternatively price might break the recent high seeking for a new local high.
so far I consider this analysis as valid until certain levels are taken out then will I consider suggesting different patterns. But as things stand I am still expecting the final correction of gold before it rallies up again but as for now short term trend for gold is down.
About a week ago I published an idea assuming that this pair might be looking to clear the lows before it rallies up again. so far everything looks valid with risks kept low, hoping for the best on the new week ahead.
I feel like price did not correct the previous wave well enough, so I was hoping for a last drop before it clears the highs. Alternative scenario: price might be done correcting and will jump and clear the near high, I will jump in at the level that has a logical risk: reward.
The short term trend for Gold is down looking to correct that steep move down as a bearish flag pattern. but I am only hoping to join the bears only if the price move to my targeted zone, that is when I will short gold
The pound franc seem to have completed the contracting bearish triangle and I am hoping to be joining the bears. I am observing a bear daily candle with good volume which might be a sign that indeed the triangle correction might be over. Alternatively in case price breaks above my invalidation level then I will have to consider a different pattern as per rules of...
UK100 mid-term trend is up and I am hoping to join the bulls on this minor pull back, I will stop considering it a minor pullback if price go beyond my invalidation level.
assuming the last five wave advance has finished and a correction has began, I'm hoping to short wave c as it always unfold as an impulse wave
The w-x-y correction of the impulse seems to have ended at around the 78.6% and getting ready to take out near highs. A break of the near lows I will consider this analysis void, as it is my level of invalidation.