More sells anticipated on Gold, we are in a double correction on a higher timeframe/ Degree. Potential impulse pattern on a wave (C), we already have a 1-2 sequence.
First bias we are in an A-B-C zigzag correction where waves A and C are equal After wave C we can expect the price to start selling. The second bias we are in an impulse pattern, of which we are in a 3rd wave phase which could be projected to 1.618 Fibonacci extension level. What do you think what's your view? - Zig-Zag correction - Impulse pattern
Sell continuation as a Zig-Zag correction pattern. We can expect price trade down to 50% Fibonacci retracement before we can start wave 3 formation.
Further upside can be expected from USDCAD but we should wait for a minor correction before considering the long direction as of yet. We can expect a classic A-B-C Zig-Zag correction. The impulse pattern lasted longer than expected, with an extended wave 3 projected to about 2.618 Fibonacci levels.
Further upside can be expected from USDCAD but we should wait for a minor correction before considering the long direction as of yet. We can expect a classic A-B-C Zig-Zag correction. The impulse pattern lasted longer than expected, with an extended wave 3 projected to about 2.618 Fibonacci levels.
The USDZAR seems ready to be bullish, no long ago we anticipated a correction for wave (2) which then occurred and traded to a 50% Fibonacci retracement. The upside will last a lot longer we can expect it to break the previous high with a Fibonacci projection of 1.61.8 as that is common for wave 3s to extend to that level.
My focus is on the unfilled gap from last week, also we have majority of traders long.
We're in a bullish sequence on USDZAR, we're in a wave 3 phase which will unfold as an impulse wave. USDZAR will most likely trade bullish based on inverse correlation where XXXUSD trades on the bearish side. We can expect a minor pullback which may result in a significant buy very soon.
We can expect to sell continuation on GOLD, we are in the last leg of the correction pattern. We are in a wave C of a Y leg. A Zig-Zag is a simple correction where waves A and C are equal.
Price will most likely continue moving in the downside direction as a wave 3. Wave 3 is usually projected as a 1.618 Fibonacci extension level.
Gold sells continue to play the bearish side. We are in a zig-zag correction on the Y wave of double zig-zag. The wave C on the blue degree is always a motive wave we can expect a 1-2-3-4-5 sequence. We can expect the price to break below the (A) leg on the blue degree. We can project wave C to be equal to wave A.
Price is continuing to trade bearish to complete the 5th wave. Often times wave 1 and 5 are equal so we can use that idea to project wave 5 completion. Price will most likely continue trading in the parallel channel.
Price is trading in a nice Zig-Zag correction pattern in the bearish direction. We can expect a last drop before the next buys as a wave 3 for a bigger degree. One thing to focus on is the potential level at which the price might reach to( golden Fibonacci levels). Understanding that waves A and C are often equal can help us identify a potential turning point of...
We are in a change of trend on GBPUSD, the price has been in a corrective phase as a double correction pattern. The correction is currently over we can expect some potential impulse moves to occur on the bearish direction.
USDCAD is in a classic impulse pattern. Waves 1 and 4 are not overlapped, wave 3 is not the shortest wave compared to waves 1 and 5 and waves 1 and 5 are equal. It's safe to say that the impulse phase is complete and we are most likely to start trading in a corrective phase. Not certain how long the correction will last but the price can be 100% of the previous...
Gold update, previously on the Monthly timeframe I anticipated a slight drop(correction). And it's still an ongoing bearish trend, On the Daily timeframe the bearish bias is still valid maybe it will be short-lived. We are in a double correction pattern where all of the waves are corrective patterns. The wave (Y) is still on the first leg of the sub-pattern, a...
Price is ready to trade bullish, as impulse phase. We finished the corrective level at the 78,6 Fibonacci multiple levels. Wave (A) and (C) are currently equal suggesting that the zig-zag correction is over. The wave (C) of the zig-zag is an impulse pattern. And the impulse confirms that we are potentially over. Waves 1 and 5 are relatively equal as well and the...
Price Is most likely to trade bullish on the NZDUSD for the upcoming weeks to months, it's clear we completed the corrective phase of the double correction pattern. A double correction/ combo is a type of corrective pattern where all of the sub-waves are correction patterns as well it can be any corrective pattern except a triangle pattern for wave (W). We are...