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GBPUSD Wave Analysis GBPUSD made an impressive 5-Waved move to the upside. Since then we got a big sell of 600 pips which also happened in 5 waves. This wave can either be labelled wave A or Wave 1. We have to wait to see how the market develops. Currently we are at the end of wave 2/B and are about to start wave 3/C. We already got a nice entry at the 61,8% Fibonacci level which again acted as a good resistance. So far no trend change happened in our timeframes and we are watching to market closely. Trade is already on BE, so nothing to loose. We could still move much higher. This would then be a Wave B Flat or even extended correction before Wave C occurs.
Short
by Phils_Ocean
2
NZDUSD Wave Analysis - Wave 4 aheadNZDUSD made a strong move to the upside over the last sessions. Have a look at the price from Elliott wave perspective We had the first motive Wave which consisted of 5 waves. Wave 2 of the bigger picture made a correction to the 50% Fibonacci level since the middle of November we were in a bigger wave 3, price marking constantly new highs without major corrections Now price is strongly overbought which is a typical sign for Wave 3. We should now see a correction (Wave 4) with minimum 150 pips before we are targeting new highs This last high should come with RSI divergence and could then be labelled wave 5 This whole move would the make a bullish motive wave, the first impulse to the upside. 2020 will be a strong year for AUD and NZD and the USD is going to devaluate
Short
by Phils_Ocean
1
AUDUSD Wave Analysis - UpdateWe are tracking the moves of AUDUSD since some weeks now. Have a look at the previous analysis to see the power of Wave pattern. Price is going strong in predicted waves We are at the end of minor wave 3 in the extended wave 3 (turquoise) Wave 4 should start really soon Correction of Wave 4 should be shallow, because wave 2 made deep correction We then are waiting for another buy signal to add to current long position Next push to the upside should go to at least 0.70600 where to next major resistance starts. Now it is time to move stops to secure profit. Even partial profit taking could be done. Remember anything can happen anytime. Keep an unbiased mind towards the market and stay open for the opportunities.
Long
by Phils_Ocean
NAS100 Medium Term Correction aheadNAS100 made its move to the upside and touched the upper trendline of the channel. The 5-Waves are finished and a bigger correction should occur 1H Pinbar Sell Signal - Price action formed RSI Divergence at the end of wave 5 Market opened with a gap which could lead to a daily island reversal candlestick pattern! Good R:R with short position. We traded this market at the beginning of the week. Trade went BE, but it was kept on the watch, because the bigger picture is very likely to correct over the next Weeks/months. Have a look at Daily chart to gain perspective.
OANDA:NAS100USDShort
by Phils_Ocean
NAS100 Overbought - Profit taking aheadThe indices have been rising for several years now and I think we are not finished yet for the bigger picture to fall. But on a daily timeframe we covered a lot of ground the last weeks without any major correction. The indicators are overbought and sitting in the extremes. On the lower timeframe we are also overbought and first signs of a trend change show up. We have rising trendlines and the 3. touch of the upper TL already occurred. Now we are moving sideways and failed to bounce of the TL. I am currently waiting for the retest of the broken TL. IF there is any significant price action (e.g. Double bar, engulfing bar, pinbar) I will place a trade with a probably pretty close SL (around 10-20pips) There could be some nice profit taking which would drive the prices lower even without selling pressure. If you know how an order book works you know what I mean.
OANDA:NAS100USDShort
by Phils_Ocean
GBPUSD Wave AnalysisGBP made some really interesting moves the last two weeks. Anybody who is familiar with the Elliott wave Theory was expecting the final push to the upside. We now have finished the 5-Wave structure to the upside, which took place since September. The Brexit is pretty clear right now and UK will face some macroeconomic difficulties. From the technical perspective we will have some very interesting setups for the next Weeks/Months. Market finished 5-Wave push to the upside This week we got the immediate retrace and selloff which was also 5-Waved and the beginning of something big. Across all GBP Pairs we get some nice daily/weekly sell signals I am waiting for the retrace to occur to get another sell setup IF the months closes below 1.2900 we get a picture perfect Pinbar candlestick. This would indicate a much bigger selloff toward new lows on the weekly and monthly chart. Let's watch the 4H/1H Chart to get a good entry around the regular fibonacci lvls. Follow us to receive future updates on this and other pairs. Learn how to apply the Elliott wave Theory to the markets!
Short
by Phils_Ocean
AUDNZD Daily - Wave AnalysisWe finally got some movement on this pair. Have a look at my weekly Analysis to get a grasp of the bigger Picture: Price was sitting on the rising trendline and the 78% Fibonacci level Weekly and Daily indicators are strongly oversold. In the last hours we got a classic fake breakout with the NZD News. Price should rise from here strongly over the following weeks. Follow us to receive future updates on the Major pairs and learn how to apply the Elliott Wave theory to the markets. This is for educational purpose only. This is no Investment advice. Always learn how to trade on a demo account first before risking your own Money.
Long
by Phils_Ocean
AUDUSD Wave Analysis - Do not miss Wave 3 AUDUSD is constantly making higher highs and higher lows The uptrend can nicely counted with the Elliott Wave Theory After we finished the bigger wave 2 we got some nice strong impulsive moves to the upside Have a look at my Analysis below how we traded this pair Market found Support at the rising trendline and is strongly advancing towards the recent high The moves to the upside consist of 5 Waves and in my opinion we are currently in Wave 3 which is extended The Extension of Wave 3 is the most common one and sometimes hard to spot. This is for educational purpose only. This is no Investment advice. Always learn how to trade with demo account before risking your own Money.
Long
by Phils_Ocean
1
AUDUSD 4H Wave Analysis AUDUSD is currently at a decision point. Market made a higher high with the bigger Wave 2 (Red) Followed by higher highs and higher lows in the ongoing wave 3. The descending trendline was broken to the upside in impulsive fashion Price currently sits at the retest of this long term TL which lines up with 38% Fib lvl So right now everything indicates a bullish trend with continuing dollar devaluation Target is around the last major high where a lot of profit taking will take place Some may say short is the place to go. And yes you should always consider every possibility. --> But what is possible and what is probable? A daily pinbar sell signal was formed. In my opinion it will trick many retail trader into thinking short, hopping too fast on the short train before getting eaten alive. The daily sell pinbar will probably not be confirmed and price will shoot through the roof. Have a look at my last analysis for track record: This is no investment advice. Just for educational purpose. Trade with demo account before risking your own money.
Long
by Phils_Ocean
EURUSD 4H Wave Analysis HIT AGAINElliott Wave is a powerful tool and predicted the move correctly! Follow us to receive future updates! Market made its ABC Correction with no Close under the 50% Fibonacci Level We then got a bit of messy upside price action, which is typical for the start of a Wave 1 The Long trend continued and we got a good push to the upside as Wave 3 started The move is not over yet! Bigger Wave 3 is taking place right now and there are still +100 pips to make Have a look at my last Analysis to see the predicted move! The EURUSD Market was tracked since the beginning and we also took Advantage of the first wave Initial Fake Breakout!
Long
by Phils_Ocean
1
AUDUSD 4H Wave Analysis HIT AGAINPrevious Wave Analysis hit again! Follow and like to get future updates! Have a look at my last Analysis to see the predicted move! AUDUSD corrected in an classic ABC correction to 50% Fibonacci NO Close under 50% Level on 4H chart Wave 3 took place and a lot of pips were gained Position was entered on 15min Pinbar with SL of 10 pips! The move is not over yet! We are currently in the bigger wave 3 with still +100 pips to go. IF you want to get in the market now, wait for correction (some Kind of flag) before entering on the breakout!
Long
by Phils_Ocean
1
GBPCAD Wave AnalysisGBPCAD is at the end of a move! Market conditions line perfectly up with upcoming News. Volatility is expexted! Market made significant 5-Wave impulsive move to the upside Currently we finished Wave 5 of the upside movement which took place for the last months Market made a 5-Wave move in the channel Yesterday it made an attempt to break above the recent high but failed to do so We got a classic fake breakout and finished wave 5 of Wave 5!! Have a look at the longterm perspective to gain understanding of the current market conditions:
Short
by Phils_Ocean
GBPUSD 4H Wave AnalysisGBP News will dominate this Week! Expect a lot of volatility due to political decisions. Price broke out after moving sideways for over one month (wave 4) The frist impulsive move was 5-waved labelled as orange wave (i) We then got an extended wave 3 which touched to lower side of resistance. Also RSI and stochastic market massively overbought which is typical for wave 3 Currently market is correcting for wave 4 before the last push to the upside happens we then should get a Wave 5 accompanied with RSI divergence, with an high around 1.32500-1.33000 This probably lines up with Brexit UK News and sends the market down for a bigger correction. Be extra careful, everything can happen anytime and especially on that kind of events. This is for educational purpose only. No Investment advice. Trade with demo account before risking your own money.
by Phils_Ocean
XAUUSD Wave Analysis Market is currently in corrective mode after big upside move We are slowly grinding towards support with weekly stochastic getting oversold Price still needs to go down a bit further before next buy position is possible We are waiting for significant price action and lower timeframe trend change Important news are coming which often act as a good catalyst. But news just lead to volatility, the direction is already given by the overall structure. Be patient and stick to your trading plan. This for educational purpose only. No Investment advice. Trade with demo account before risking your own money.
FOREXCOM:XAUUSDLong
by Phils_Ocean