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Flat

Possible Flat correctionOil war between Russian Saud and USA, and the OPEC, OPEC+ meeting, there are many things around oil, but it seems Oil is correcting in a flat way. So there is a sideways possibility and. I am waiting for a Flat Elliott pattern as I have mentioned it in the previous oil analysis. In the Flat pattern, the B wave possible target is in a very wide range. I expect an upward turn to above 30$ but from where I don't know. The turn could be from 21, 20, 19, 18$. I will wait for a fives wave(an impulse wave) from the zone of 18-21$ and rise above 23.15 and then I try to get a long position in a falling correction. This is my strategy, in a particular that the RR ratio will be above 2.5.
NYMEX:CL1!
by MoodandMarkets
USDJPY Buy to Sell Price actionIdentified a number of PRZ of interest Overlapping Fibonacci Retracement and Extension levels - Double Bottom at 106.8900 level - Potential Flat correction at B Leg of ABC correction - Signs of strong rejection at completion (100%) of AB=CD pattern of double bottom - Looking to enter long at 50% retracement of AB=CD pattern - Projected Target is 138.2% extension level of Double Bottom Flat correction Sell Limit - Entry at 138.2% extension level of Double Bottom Flat correction - Projected Target is 70.7% retracement of major Impulse Wave; 100% Extension of AB=C Correction Always Use proper risk management
by HomeEcTradingCo
Sideways in oil for a whileAfter finding it's low at 19.50 I expect a sideways correction in oil because wave 2 was a Zigzag. The alternation in the Elliott wave suggests me that after a deep correction there will be a sideways correction. We are too early stage of wave 4, therefore, I don't know which one will be realised, a Triangle would be suitable for the coming situation, but a Flat or a type of Flat would come also. We will see it, but I will prepare for myself a sideways trading strategy, which is not my favourite. At topping point, there will be extreme optimism and vice versa. In the sideways moving, the contrary attitude is well-paid.
NYMEX:CL1!
by MoodandMarkets
ORBEX: Pound Supported As MRP Vote Share Predicts Tory Win!In today’s market insights I talk about YouGov’s MRP (multi-level regression and post-stratification) poll and how predicting UK’s vote share with 93% accuracy in the past supports the British Pound! Aside from politics potentially moving the UK markets today, we have important GDP data coming out from Canada too. And this is likely to affect loonie. The recording explains what I am expecting in the short and also medium-term for both GBPUSD and USDCAD. Don't miss out on information that can help! Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
by Orbex
ORBEX: GOLD - Expecting a Complex Corrective Structure? It looks like we have a triangle. Since they usually appear in wave B or 4, and it doesn't look like we are on a B wave, the corrective structure hints to a complex w,x,y minute wave. The complex correction is part of minor wave 4, which has a termination level above 1600, where intermediate wave 3 is likely to complete. After minor 3 top at 1557 markets corrected with a zig-zag pattern that has a 61.80% (b) wave and 100% (c) extension wave. With subminuette wave 4 nearly completed, subminuette wave 5 is likely to end near w minute low and form a flat pattern. Unless if minuette wave (a) extends below 1454 we could expect this pattern to form a different structure. The completion of (a) should see prices moving higher for a (b) minuette and then slide lower. In case the decline to (a) stops at minute w low, (b)'s top would be the 1513. Anything above would invalidate the flat, but could indeed become an expanded flat (unlikely). This opportunity would be invalidated above 1536. A break below 1480 would be an early sign of validation towards (a). Stavros Tousios Head of Investment Research Orbex
FX_IDC:XAUUSDShort
by Orbex