A quick update on my long term idea. I've extended the Gann square a bit + making the arcs aligned with the lower points (marked with green circles). This gives the target: 4280$ When: 19. July. Good luck!
This is my long term view on USDJPY (Years ahead!): Short target: 72 JPY When: April - May 2023 Why: - I call it "Harmonic Wedge" because: - Wave 5 on the descending wedge. - Arc 5 is the next step. - Fib circles confirms this. - The golden ratio says the same (a+b)/b = a/b = 1.618. Long target: 190JPY When: 2031-2032? - Wedge potential gives this target. -...
This chart is part of my uber long term idea on USDJPY. Straight to the case: Long in the current situation. Target: 120 When: Middle of September (at earliest) Why: - Break out on the descending wedge. - This is the last leg inside the wedge. - Target suits well on my long term view on USDJPY (Hitting the upper line on the global descending wedge - The blue...
Short target: 7.35NOK When: 2. May 2019 Why: - Gann lines and the global support level crosses this point. - Arc 4 is done, arc 5 is the next one. - Wave 4 is done, wave 5 is the next one. - The volume is descending currently (From when the wedge pattern started). Forecast: - It will rise quickly after beginning of May 2019 and break through the wedge (around...
Alright, many of you are probably not trading norwegian krones but maybe this could be an idea on other trading pairs? I'm currently short on EURNOK, but I think it will turn up in beginning of October: Entry on a long position: 9.24NOK When: 3. October 2018 Arguments: - It is currently in a rising wedge and 4. wave is the next stop. - This is confirmed by...
A quick update on ETHUSD. I've adjusted the Gann Square a bit making the arcs aligned with the lower points (point 1 and 3). Target 1: 260$, 23.July Target 2: 235$, 19.July My latest ideas on XRPUSD and BTCUSD says the same dates. Here is why (along with my earlier arguments): - We are clearly in a descending trend currently (along the gann line). - A...
A quick update on my long term idea. I've extended the Gann square a bit + making the arcs aligned with the lower points (point 1 and 3). This gives a new target point which I think should be more likely (I know you bulls hate me right now): 0,3215$ When: 19. July. This also fits in with the rule of golden ratio: (a+b)/a = a/b = 1.618 (Drawed with blue...
I think UKOIL will descend the next months. Here is why: - It just hit the Global Gann fan and went down right after. - It just completed the head & shoulders potential. I've moved the starting point to the right shoulder. - It just made the 1.618 level from the (1) leg (Elliot Wave theory). - It turn down after hitting the 0.618 fibonacci level from the Gann...
I've been trying Gann Square on EURJPY lately - and it seems like it will continue descending. Explanation: - The arcs are working as support and resistance. - The arrows indicates every time it bounces away from the arcs. - Red crosses are every time it breaks through the downcending arcs. - Blue crosses are every time it breaks through the ancending arcs. It...
I think ETHUSD will rise again the next days, and I have been trying to find out when it will happen. The chart shows how Gann Fan, FIB and EW might give us a clue.
EOSUSD has just broken through the 0.618 circle and I think it will go further down next 10-15 days. New target (currently short position): 5.1$ - Gann Square shows where next turning point will be. - 0.786 fib circle confirms this. - Gann Fan lines also confirm this. - Elliot Wave Theory fits in. - 0.5 fib reversed local from leg 5-4 says the same.
My original idea startet at beginning of April and has been very profitable till now: Long position was made 1.April because: - 0.886 fib circle indicated a turning point. - The inner Gann Arc was about to be reached (happend some days later). Short position was made 5.May because: - 0.5 fib circle indicated a turning point. - The outer Gann Arc did a perfect...
It is starting to be interesting with XAUUSD at the moment - here are two possible paths: Short position: - Wave 4 is completed (ascending triangle pattern). It should bounce down and break through the support line. - C-leg on a possible Gartley Pattern is completed. - It breaks throug the mid arc (It has tested this one twice). - It should descend all the way...
This is a follow-up on my earlier post: Fib circles on XAUUSD.
I think it is very important to have a long term idea, and then take a closer look on the short term. By doing this I have a safety net along the path. This sounds basic but I repeat this to myself every time I do my trades. Enough about today's lesson :P Here is my long term idea on EURUSD. I think it will descend because: - Gann Fan line (blue lines) made it...
This is a follow-up on my earlier post: Fib circles on EURUSD.
If you think BTCUSD will fall even more this summer, then here is a good setup: - Head & Shoulders are about to be completed. - Parallel lines to the bottom line of the symetrical triangel are working as resistance lines on the last shoulder. - A copy of the left shoulder gives us less than 5 days to complete the Head & Shoulders pattern. In other words it should...
Good Saturday Morning! ETHUSD is clearly my favorite trading object and here is another idea on the 1h chart. A Wedge pattern is about to be created. I count 4. waves till now and I think it is a good moment to do an entry for a short position. Many will probably wait for the 5.wave before doing the entry, but then you will lose some percents inside the wedge....