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BULLISH ON CRUDE OIL.Been holding this chart since 9th July. Bullish till $44/$45 and then we may see the continuation of the Elliot wave pattern (ABC) Why $44? Because that’s where the 50MA hangs on the weekly chart. Or we could just continue to go up, whatever the case I will follow what the chart is telling me. Only looking for buying opportunities in this market since we are still clearly in a uptrend. I wouldn’t get bearish until we close below $41 on the daily chart. CrudeSignals.
TVC:USOILLong
by UnknownUnicorn10751353
S&P 500: Potential Nine Percent Decline SetupS&P 500 decline in a five-wave contracting pattern knows as leading diagonal from its all-time high. It's labelled i-ii-iii-iv-v in wave (a). According to Elliot Wave theory, a three-wave correction follows every impulse move, that's the subsequent a-b-c zigzag move in SPX. The correction retraced more than 80% of the impulse, retested the upper boundary of the channel + daily demand zone. Price is expected to resumed in the direction of the major impulse after a correction. The decline in wave (c) has the potential to take wave (a) low and beyond. I will look for the break out of the parallel channel and green line for a conservative short entry while the red line is my short-term invalidation zone. What's your view on S&P 500? Let me know in the comment. Thanks, Veejahbee.
OANDA:SPX500USDShort
by Veejahbee
7
Where will Gold Be Consider VERY Bullish?Gold breakout of the descending trendline + resistance after completing an a-b-c triangle in wave 4. I will be watching the price for a potential retest of the broken level and continuation higher. While the price is still trading below the blue line, then it's a tug of war between the bulls and bears. The break of wave b high, the blue line, will give confidence to the BULLS! Are you buying Gold or Selling? Let me know in the comment! Thanks, Veejahbee.
OANDA:XAUUSDLong
by Veejahbee
AUDNZD Inverted Head & Shoulder Pattern Favor BullsThe AUDNZD 4hr chart above shows a classic inverted H&S pattern. Price also broke out of the long-term parallel channel and support & resistance level. Price has the potential to retest the broken neckline as support and resumes a strong impulse move in wave (3) of iii. Entry Criteria: Buy from or below the current market price and put stop loss at the red level. Wait for the breakout of the green line for conservative entry! Regards, Veejahbee.
Long
by Veejahbee
2
Elliot Wave: AUDCAD Heading Higher In Wave iii of 5.AUDCAD reversed from the demand zone and completed a 5-3 wave cycle. According to Elliot Wave theory, once a 5-3 wave cycle is completed, the market will resume in the direction of the trend! The corrective wave unfolded has a w-x-y double zigzag in wave ii and already fulfilled the minimum requirements. Price has the potential to move higher in wave iii of 5. Entry Ideas! The green lines are the confirmation level for the bulls. The red line is the invalidation zone. What's your view on AUDCAD? Let me know in the comment.
Long
by Veejahbee
Silver Sets To Complete A Five-wave Impulse PatternKindly support this analysis with your likes and comments! The Silver 4 hourly chart reveals an incomplete Elliot Wave impulse sequence from wave (b) high on the chart. It's labeled i-ii-iii-iv-v. Wave iii is the longest wave and its sub-wave of wave iii is also visible. According to EW theory, once the corrective phase in wave iv is completed an impulse move will follow it in wave v . In Silver's case, the correction unfolded as a double zigzag and also terminated around 50% Fib level. Yesterday daily price action also close as a bearish engulfing bar. With all the confluence, we can expect Silver to head lower in the short-term. The setup will be considered invalid if the red line on the chart is breached. What's your view on Silver? Let me know in the comment! Good luck on the chart, Veejahbee.
OANDA:XAGUSDShort
by Veejahbee
2