If we see a break of the nearest critical level, then no more long. But if it remains, bears're going to deliver the third wave.
Wave (i) is likely going to finish soon.
We've got wave (v), so it's time for a local correction.
It's likely that we're going to see an extension in the third wave this week.
The first wave is like going to move on. Thumb up if you're a bull ))
GBPUSD is set up in the possible 3rd wave of an Elliott Wave. Watch for price on hourly to retrace back to 100% Fib level where there could be a possible rebound to the upside to the supply zone completing the 4th and 5th wave or break the 100% level down to the 76.4% Fib level to complete the 4th wave then rebound to the upside to the supply zone to complete the...
USDCAD is possibly ending its 2nd wave with its retracement to the 50% Fib level (RSI indicates oversold) which could be the beginning of a strong rally to the upside into the supply zone where profits will be taken. I will wait for price to break the 61.8% Fib level or strong engulfing candle to confirm rally to the supply zone.
Wave iii of (iii) is about to start. Please, thumb up if you want to see more elliott wave charts ))))
It's always fun to trade the gold using EW strategy. I opt a bearish option on EW and kept the bullish as alternative. The reason, I didnot see continuation of bull momentum. If we are bull the current wave should be 3rd wave. Price never range in wave 3, Triangle will not be seen in wave 3. Resistance should cut like butter in wave 3. "Are we in bullish wave 3?"...
Wave 1- ~270-312 Wave 2- 311-289 Wave 3- 293- 360 Wave 4 (perpendicular to first wave)- 359- 327 Wave 5- 318-333
Greetings traders & readers, This Analysis for the JULY contract is special because this is a part of our exclusive service Premium trade setups. To learn more about the Premium trade setup (PTS). click the link below, www.mytradingcourses.com Now lets deal with the analysis in weekly time frame and just understand what is happening over there. We have already...
Downtrend - S/L 0,76250, T/P 0.71500
Bearish Gartley - Often appears as waves 1-2 or A-B or part of complex correction. Impulse wave should follow from point D