NZDUSD 4H chart looks like it is completing an Expanding diagonal.
Here I'm expecting to see a completion of wave 5 (the last wave before downward movement)
what I do not know, is where wave 5 would be exhausted. so I have 2 options on the chart.
Option 1:
wave 5 could be truncated forming a Thrust.
Option 2:
wave 5 could unfold up to its full length around price...
EURUSD seems to follow a unique pattern, which could be challenging in the new week.
on the chart, is my approach towards forecasting next market movement.
my analysis is based on:
1.Elliot wave theory (kind of unorthodox),
2.support & resistance and
3.history repeating itself.
Study my wave labeling to see these listed approach.
NOTE: This analysis could become...
Note: As market price unfolds, chart becomes clear. Here my AU market analysis is based on Price action, Market structure,
Elliot wave principle and Fibonacci retracement.
PRICE ACTION;
market price is currently in a strong zone of supply from my view.
MARKET STRUCTURE;
price has for potential reversal patterns, market is in gradual distribution with price...
it has been a wonderful journey with NZDUSD(swing trade). on the chart, price rallied from 0.55830 up into a very strong zone of importance.
from my idea; much Supply is in the market. this could change momentum back to selling of the market. my chart setup explains it all.
Trade with proper risk management!
Price action trading on AUDUSD from my idea has shown a bearish sign, after the Rally to 0.62196.
The trend line breakout already occurred with a retest around 50% in line chart.
My bearish confidence is boosted by this signal.
GBPUSD is forming a very complex corrective pattern.
I see a complex Zigzag of a higher degree in downtrend; (a)(b)(c)
wave (a) & (b) has occurred.
soon we would get to the end of wave (c)
Elliott wave analysis in progress for wave (c)
If you see a sign of this happening in EU market, then take this as a guide. The forecast as seen is expected to occur
within 21 years starting from now 2020.
#UC
#Elliottwave
EURJPY Price closed with bear rejection candle, engulfing the last two candles. This gives a selling opportunity... further price could boost selling confidence.
Have a wonderful weekend!
