What more can you ask for the start of 2016? We have a possible Bat and Triangle completion of a second wave correction of a higher degree. Some might count this whole triangle as a B wave correction. Nevertheless its a correction of an up move and a clear wave formation. So we are looking for the next impulse to the upside. This gives us the chance for a pin...
Corrective ABC structure seems to be complete. Which in my counting is the IV higher degree corrective wave of a large down trend. Only problem is the final C wave is below the initial A wave of the overall completion. Any thoughts ?
The first phase of the corrective structure is a clear flat. The second phase is underway, so it could be either the green triangle or the red ZigZag. If it is to be the triangle we should see a clear reversal at the Blue trendline resistance to complete the last leg of the triangle. On the other hand, if price clearly breaks the Blue trendline resistance, then we...
Here's a bit of a drill down to the 1H to analyze the current market structure. USDCAD trade analysis on the daily chart Wait for for C wave of minor degree completion to go for a possible short, what could be a possible 3rd wave of a 5 wave sequence down.
Has the USDCAD topped already? My wave count does say so. By the way I'm already short from 1.39383. But the entry signal was a Bearish Dragon pattern. Nevertheless its a relief to see that my wave count tallies with the trade.
If the corrective ABC is to complete at the equidistant trendline support, there may be opportunities for short term scalping to the upside.
This is my take on the GBPUSD wave count . I'm quite new to the Elliott wave stuff. Constructive criticism welcome.
on 4H the BAMM line has been clearly breached. This would be my first BAMM trade. But I am yet to enter as I expect a pullback below the BAMM trigger line according to trendline resistance. Will enter on any convincing pullback.
This is what I see. Structure of this 4H downtrend suggests that 1.10000 is at a highly probable reversal point. NFP is the booster that would take price to this level quicker than expected. While its my naivety to expect such a swift move within a couple of 4H candles, its NFP day. Nevertheless the price is expected to be within the blue area for the foreseeable...
AUDUSD is gathering bullish momentum. Given the long term bearish trend, this is a significant impulse wave towards upside. Keep an eye on this guys, this could be the reversal we all have been waiting for.
EURGBP has bounced off the trendline support. Is it heading towards a Gartley completion at the upper trendline resistance? Regardless of the Gartley, if price breaks out upwards off the 15M channel, then its a long entry for me. But EG has been in a tight range the whole day. So its very unlikely that we get a signal at these late hours, a possible trade for...
Considering the momentum of the bullish trend I would wait to see strong confirmation to go short. Last couple of H4 candles seem to be interesting. Lets see if the market would give our entry.
If price breaks out of the 15M channel, I believe it to be the start of a long term bearish move. What do you think?
How strong of a move can we expect?
GBPUSD is showing some weakness to move further up. But I still see a possible retest to the trendline support possibly completing a Gartley pattern. For me the price to watch is 1.57000 which has been tested several times and rejected in the recent past. So short term, I believe there is yet another upward move left. What do you guys think?
Weekly trendline resistance and AB=CD completion around the D point as well
Its intriguing that two candles with the exact same body and wick measurements, even with all the indicator values matching, can actually encompass price-momentum towards opposite directions. I have outlined two possible scenarios per each candle type. Note that regardless of the candle type - bull or bear, the last C wave and the main B wave of price within the...
AUDUSD is at a significant zone as the Daily candles have just wicked on to the Monthly support line. Now a trendline does not always hold or fall on a first touch. But in support of a swift reversal, we have a possible harmonic pattern completion - a 'Bullish Deep Crab,' right around the price-contact-point of the monthly trendline support. So this presents a...