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What Last Friday Sell-Off Could Mean for EURUSDThe EURUSD saw a massive sell-off last Friday, which led to the formation of a bearish Pin Bar at a critical supply zone and weekly descending trendline. Although EURUSD seems to have resumed the advance from 1.087 major low on the chart, the correction might not be completed yet. The price action after the advance showed a three-wave down in wave (a) and three-wave up in wave (b). This pattern could result in a complex corrective structure in wave 2. If this count is correct, the pin bar should send the pair further lower in a five-wave pattern in wave (c) to complete an expanded Flat Elliot Wave pattern. The blue box and 78.6% Fib is the estimated area for wave (c) to bottomed. What's your view on EURUSD? Thanks for reading! Veejahbee.
Short
by Veejahbee
EURCAD Triangle Might Yet To Completed - Bias Remains BullishI published an analysis on EURCAD yesterday, projecting an upward move from the Triangle pattern. After I carefully reviewed yesterday price action, I could see that it was a corrective pattern, not impulse. So I re-count the wave from bottom in related with AUDCAD and know that it's forming a double three/triple zigzag corrective pattern. Yesterday invalidation level still valid, as wave e of the triangle should not breach wave "c" low according to Elliot Wave principle. Price action can only be delayed, but the bullish rally is so imminent!. What's your thought on EURCAD? Let's interact in the comment section. Best, Veejahbee.
Long
by Veejahbee
2
GOLD is Screaming "BUY ME!!!" - Here is How to Take AdvantagePrice, time, and patience is the way to gain clarity in the market. Gold whipsawing price action has caused me to establish an alternative "bearish" bias, especially the last Friday sell-off. However, the current price action and movement during this week are showing a new pattern and increasing my confidence for the bulls! Price is making a 1-2, (i)-(ii) pattern which is an indication for an extended wave 3 (mean a sharp rally is underway). The previous wave 2 corrective structure unfolded as an expanded flat and retraced 78.6% of wave 1. The current wave (ii) of (iii) of 3 is correction is also unfolding as an expanded flat, and it will most likely be terminated at 78.6% retracement of wave (i). As you can see from the chart, that level lined up with 3rd bounce of ascending trendline and blue zone. HISTORY LESSONS "History Does Sometimes Repeat Itself! And Those Who Do Not Learn History Are Doomed To Repeat It." Repeat it in the sense that, you can either take advantage of the opportunity or missed out on the new rally. For confirmation & conservative entry, wait for the price to breach the green line after the price has already dipped down to the blue zone. See related link for Higher Time Frame analysis. What's your thought about Gold, bullish or bearish? Best of luck on the chart! Veejahbee.
FX_IDC:XAUUSDLong
by Veejahbee
BITCOIN ENDING DIAGONAL PATTERN IS HINTING A POTENTIAL RALLYPirce has been in a corrective wave after the sharp advance in Bitcoin that formed a leading diagonal pattern. The correction which seems to be unfolding as an a-b-c zigzag pattern is about to complete. The blue zone on the chart is a critical area for the ending diagonal in wave (c) of c to bottom. The break of wave (2) of c high will signal the resumption of the trend and the invalidation level on the chart will be the stop loss level. This rally can be short-term A-B-C, or a longterm 1-2-3 wave pattern. Best of luck on the chart! Veejahbee.
BITFINEX:BTCUSDLong
by Veejahbee
4
Triangle Pattern Should Send EURCAD HigherAfter a lot of whipsawing price action on EURCAD, and AUDCAD, I could now see the kind of price pattern in the making. When there is a range-bound or contracting price action, it usually tends to be a Triangle. I'm able to label the price action on EURCAD. And if the count is correct, price should resume higher from or near the current market price and the invalidation level should remain intact for the bullish bias to remain valid. What's your thought? Bullish or Bearish?
Long
by Veejahbee
3
GOLD "XAUUSD" CORRECTIVE CYCLE IS YET TO BE COMPLETEDI have posted a series of analyses on GOLD in the last few weeks forecasting a bullish run in the longterm but seems the bears are not giving the bulls a chance. Here we go again as I'm looking at Gold from a fresh perspective after last Friday's sell-off. The GOLD corrective structure in wave 4 is becoming more complex. The visible count for the correction right now is a triple ZigZag Elliot Wave pattern. The retracement which is most likely to be completed within the blue zone that lined up with 50% Fibonacci retracement of wave 3 rally, and wave (iv) low of one lesser degree. This is a critical level to defence the bears and any move lower that breach wave 1 high @ $1348.0/oz will invalidate wave 4 idea. Another Elliot Wave Principle that's guiding this retracement is called alternation. The guideline stated if wave 2 corrective structure is shallow and simple in nature, then wave 4 will be complex and deeper. In Gold case, wave 2 is a simple zigzag and retraced 38.2% of wave 1, and so we're anticipating wave 4 to retrace 50% in a complex and time-consuming triple zigzag pattern. NOTE: This bearish bias on gold will most likely drag bitcoin price lower, as explained in the video I published on Sunday. What's your view on Gold, Bearish or Bullish longterm? Thanks for reading! Veejahbee.
FX_IDC:XAUUSDShort
by Veejahbee
3
EURUSD Making a Double Zigzag Elliot Wave Pattern - Short Entry So yesterday I published an article on the EU with entry and stop level. I get stopped out and some traders did as well. That's trading for you, you won't always be right and to win in this game you've to be bold to take the loss and re-evaluate will clear mind. What's wrong with yesterday setup, I labelled wave (a) as a completed (a)-(b)-(c). When market stopped me out and I re-analyse I could see that the correction is yet to complete and we still have a chance to trade lower in order to complete a double zigzag pattern. I took an aggressive entry 1/3 of my total risk and I will add the remaining risk once the conservative entry level is breached. How do you manage your loss? Do you let your losers run? If yes, I have been in your shoes and I will tell you honestly, it won't help your bottom line. Best, Veejahbee.
Short
by Veejahbee
3
GBPJPY MARKET STRUCTURE LINED UP WITH ELLIOT WAVE SETUPThis analysis shows an example of how Elliot Wave forecast used to line up with other technical indicators. Here I'm anticipating a sell-off in GBPJPY to complete a regular Elliot Wave pattern. This pattern is most likely to complete within the blue box on the chart. As you can see, the blue zone lined up with minor demand/support zone, the third bounce of ascending trendline, and 50-61.8% Fibonacci ratio. I will keep eyes on it to see how it played out! What is your bias on GBPJPY? Let's chat in the comment! Best, Veejahbee.
Short
by Veejahbee
GBPNZD MARKET STRUCTURE + ELLIOT WAVE SUGGESTING A SELL-OFFThe market structure of GBPNZD shows how the price breakout of major ascending trendline and support zone. Price is currently retesting the broken levels that lined up with a descending trendline. Price has the potential to decline from or near the current market price. Elliot wave also shows a series of 1-2, (i)-(ii) sequence which could mean a rapid sell-off should be expected. What's your thought on GBPNZD? Best of luck on the chart! Veejahbee.
Short
by Veejahbee
EURUSD: Correction Becoming ComplexThe corrective structure on EURUSD is becoming complex! This is expected as the currency used to mimic one another. GOLD and SILVER are moving lower in the short term so EURUSD should at least wait for them before heading higher. The retracement seems to be unfolding as a double zigzag Elliot Wave pattern. This gives us the opportunity for a short term bearish move. If this count is correct, price should resume the rally once the short-term move is completed within the blue box area, comprising of the 78.6% Fibonacci of the impulse, and a zone where wave "y" will equal wave "x". What's your take on EURUSD? Let me hear from you!
Short
by Veejahbee
EURUSD Setting Up for Wave (iii) of 3 RallyPrice reversed from wave 2 low and broke out of the descending trendline in a five-wave pattern in wave (i). The subsequent move which is unfolding as a zigzag pattern has the potential to find a bottom within the blue zone comprising the 61.8% Fibonacci of the impulse, a retest of the broken trendline, and wave c will be equal 1.618x wave a, at the same area. If this count is correct, the invalidation level should remain intact, and price should advance higher in wave (iii). What's your view about EURUSD? Kindly let me know your thoughts in the comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
6
Oil Corrective Structure Wave Analysis Buy/SellIf you look at my analysis from November 25th which is linked below you can see that I forecasted a big sell off in Oil. The sell off I was anticipating have began, now I am looking for the trend to continue to the downside. Before that happen I will not be surprised to see a bigger corrective structure to form which may retest resistance around 57.19. It may not get that high but I am looking for another push up to set up another potential sell off. Also watch the trend line to act as support.
FX_IDC:USDWTIShort
by JjohnsonBeGreat
USDCAD: Retest of Support May Indicate Further RiseHi Traders, On November 28th, price was showing a contracting triangle and making the case for a long setup. The triangle has now been invalidated and price is forming a regular flat. We may still have a long setup if price retests support at 1.3255, thereby completing the regular flat. I have indicated clear buy and sell zones. All the best, Wave Theorist _____________________________________________________________________________________________________________________ If you like my analysis, kindly follow me on: Instagram - www.instagram.com
Long
by UnknownUnicorn5158708