I think long position is a good option now for a simple reason. wave 1 of the ongoing bullish trend retraces to 61 fibo forming a wave no.2. in fact, I am in a long position from price 1732 and manage my trade to 1850 minimum. Wave 3 ,as Elliot guidance refers,would extended to 2.61 fibo of the Wave1, or at least, 1.61 fibo. time will examine idea accuracy. ...
this idea is to be archived and idea may not 4 trading,in fact, I am studying Elliot Waves and find this platform is a good way to retest my thoughts. why Long? on a daily frame, I found the 12345 waves have finished and wave 5 had an extension so wave extend from 2.61 fibo to 421.6 fibo,achieved on a price .9909 . I think it is a time for an ABC correction...
the daily bearish trend had been broken,and now price may revisit the daily demand zone and price could go north - bullish .
The pair reaches a 23 fibo correction wave and may go south to visit the golden ratio of 61 fino, if you may interested in this trade,kindly stick with SL max +20 pips .
The cross is on a bullish trend and is coming up from a nice weekly demand points,so I think the pair will keep up bullish momentum and goes north,targeting the last supply zone on a 4 hr frame and may go beyond to touch the upper trend line of a channel.
AUDNZD shows a bullish movement and records a new high of 6 months,so i think this bullish mode will go on and price may come back to a zone shown in the chart,then we can make activate a trade.
here I am thinking about Gold to short, but as you may see,the chart indicates long position.What I want to say is the short positions take profit point is about 1815-1810.Why? because the price will be on the monthly bullish trend and EMA 20 is there almost. I will go long from 1810 and my planned TP will be 1880 and SL 1777. trade wisely it is just a possible...
On a daily frame,we had seen a nice bullish tone and now price is discounted and may pull back to revisit a price zone of 1.50400. Stop lose is a two candles of a 4 hrs frame below 1.4550
This scenario will be seen if a price is maintained above 36,666.So I think we will see the new highs in the near future . TP1 40K TP2 46K TP3 50K SL a close of two candles on a 4Hr frame below 36666.
GBPCAD has been for in a bearish mode for long time,and price reaches a price zone which push price back up.So I think we have a nice long trade as shown in the trade.Ratio is about 1:2 as a profit .
the main trend on a monthly and weekly basis is still bullish,so I managed to go long from current price to 37331 targeting 39K. stop loss as shown in the chart plus 30% of a zone.