Perfect Elliot wave cycle in the downward trend. Weekly resistance is good to check or D1 trades. The pair is at a strong Support level . However law alternation on wave four not fully followed. I take this to be a picture perfect cycle regardless. The proportions of corrective structure within the downtrend are near perfect. I project a push away from this...
Gold has just faced strong rejection on the weekly. Divergence on the D1 already exists. The locking of the peak might give rise to a subtle H and S pattern which is consistent with The bat pattern failing. This would give a sell to C. Scenario two which is still valid n the long run is the completion of that bat pattern on the W1 chart as shown. This would give...
Bearish bat on GJ is still valid. The support zone was created by a huge gap at Britains exit polls hours before the actual results were announced. The actual came out better. Unless by some miracle there is no empirical evidence on the fundamentals that gives a bullish Pound-Yen beyond this point. Elliot wave analysis is consistent with this view. The 1 leg is...
A break above the current resistance will give a rally to point D. Giving a beautiful Bearish Bat pattern. A failure on the other hand will give a strong sell to at least C but may proceed tp the beginning of the first leg on the A level. If NFP drives the price to D then a strong decent can be expected.
On the monthly UK100 is forming a cypher pattern. a clear elliot wave can be fit within this pattern. The index is pushing towards a strong resistance area. With the uncertainties bordering Brexit and the implications on the UK economy this trajectory is consistent with economic speculation. The 78.6 iFib retracement reqired to complete the cypher pattern is...
AUDUSD is sitting at a monthly support level, the harmonic formed is a confluence of great magnitude. Longs are good swing trades. when the price leaves the level decisively longs are in order.
Price has just given a shift bar off C and I expect it to rally towards the confluence of a D1 38.2 fib retracement and a 78.6 fib retracement of leg XA, to form point D. D1 is range bound, given that there is trapped volume to the left in a horizontal fashion at point X we will unlikely see price reach that order block. A strong sell at D is consistent with all...
POINT C may still find extension from the current 70.7 fib level to the max of 0.886. a strong sell would then be expected to point D,you mat expect a structure to form first around the shoulder at c once the high has been set.At point C the structure currently shows a potentially strong head and shoulder pattern. on the H1 we have a possible star pattern ...
Expecting plausibly strong support at current price but with price breaching thereafter to D and then proceeding back into a strong buy to wards current price. Trapped volume exists at A thus C came shy of that peak. X also has trapped volume evidenced by h4 rail road tracks at critical level. expecting safety trades and away from peak continuation signature...
USDJPY has been bearish as projected in my last post. We are looking to see UJ reach the D point where it meets a confluence of a D1 trend line as well as an H4 bullish harmonic. Rally of price is expected strongly at this D point. I expect level 3 behavior at that point culminating in a strong buy.
113.858 is Fibonacci confluence on most time frames including weekly Daily and H4. The area shows trapped volume to the left and this we see by multiple zone rejection on higher timeframes. A Bearish bat has already formed on H4 as well as a smaller on on the H1. H4 bat is active already while the h1 is a confluence of the H4 once activated. I expect price to hunt...