hi Readers, The Chart deals with weekly time Frame As we now Know that the wave Y in Grand Super Cycle degree & hence the initiation of X wave after Y has pushed it to new highs, say to the current levels. The important idea is that the W within the current X wave in one lesser degree has been progressing as w,x,y,x & z within which waves W,X & Y are completed....
DXY is finishing wave (E) to complete Y of a running flat pattern.
Play a push up to 1.1320 I run a community training people to be full time forex traders www.TheForexArmy.com
If you're going to take a position for the week, short now. Stop loss : 1.4660 or if you want something riskier, above last high at 1.4230 Take Profit : 1.4050 I run an exclusive forex group training full time forex traders at www.TheForexArmy.com
I do advanced elliott wave analysis for the biggest banks and hedge funds in 3 different countries. There's a lot of confusion on what a proper elliott wave count is for FX:AUDNZD and I see a lot of people making mistakes here. So here's what the big banks are using and I've written an explanation for each level that I have displayed. Share this chart with...
FX:GBPUSD Graphical Elements : Bearish descending channel stretching back to 2015 July Elliott Wave Structure : We're seeing a wave (5) ((3)) push down below fractal resistance at 1.4640 I specialize in Elliott Wave analysis for leading banks and hedge funds in 3 different countries. I also run my own trading community that specialize in training successful...
1.4070 is the 1.61 projection of the 4th wave. Price diverging with RSI and Stochastic RSI. With that in mind Buy 1.4090 TP 1.4290 (6.2:1 risk:reward) In reversal 3x shorts below 1.4080 for break even Scope for extension below 1.4020
I am just learning. With Elliott Waves we must break the B leg before we can call it a new wave. We never broke the 300 barrier and volume was fairly insubstantial. Not sure but I think we must retrace a bit more before a rush of buyers come in for the leg 1 of a new wave. I am neutral for the time being. Nevertheless, I am going to take a trade near the 200...
Background The chart above shows The developing bearish impulse in GBP/USD since summer 2015 W]ave (I) is labelled as a leading diagonal Wave (II) is a short 3 wave correction which is to be expected after a leading diagonal. Wave (III) is an extended wave which itself subdivides into 5 waves. Wave (III) also equals 1.618 wave (I) Wave (IV) takes the form of a...
The complex correction of the NZD/USD pair has (finally) resolved to complete a Bat pattern that it had been struggling towards since early Feb. While not the cleanest of Bat patterns, there are several good reasons to trade this setup. 1) Harmonics: 2 consecutive Bat patterns are now discernible on the daily chart. The first Bat is slightly imperfect because its...
USDCAD looks to have completed its 5th wave move lower and we have RSI and stochastic divergence. We favour an ABC correction into 1.3630 where 1.3630 will either be the A or the C. Entry 1.3415 TP1 - 1.3630 (5:1 reward:risk) TP2 - 1.3725 (6:1 reward risk) In reversal we favour phasing in 3x shorts from 1.3412 into 1.3410 and 1.3360 in extension for break...
Resuming from previous Crude oil Post in the blog, check it here... Obviously yes the bottom is in the visible limits We at that time just had an idea that the developing correction could be a triangle but in the recent trading sessions, it is really very clear that the current correction is most possibly a triangle (Elliott wave Descending triangle) and within...