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The Characteristics of Corrective StructuresHi fellow traders, I would like to share with you all the characteristics of the most important structures when it comes to trading waves. When reading all the rules and guidelines of the Elliott Wave Principle it might be a little overwhelming and complicated for most traders. At least to me it was when I just started learning. For that reason I've tried to put it more in perspective by drawing all the patterns and making it more visual for everyone to understand. The notes are all included on the chart and I hope it helps you during your trading sessions. If there are any questions please feel free to comment, ~ OGwavetrader Follow our Tradingview account for more technical analysis updates Like, share and comment your thoughts.
Education
by OGwavetrader
9
EUR/USD:FUNDAMENTAL + TECHNICAL PATTERN ANALYSIS | LONG SETUP 🔔EUR/USD has extended its slide toward 1.0800 early Wednesday. The pair needs to reclaim 1.0860 to attract bulls. A drop below 1.0800 could ramp up the technical selling pressure. EUR/USD has declined toward 1.0800 in the early European session on Wednesday amid the unabated dollar strength. Although the pair managed to recover modestly, it might find it difficult to attract buyers unless it reclaims 1.0860. During the American trading hours on Tuesday, EUR/USD climbed above 1.0900. After the data from the US showed that the Core Consumer Price Index rose to 6.5% on a yearly basis in March, compared to the market expectation of 6.6%, US T-bond yields fell sharply and caused the dollar to weaken. US March Consumer Price Index: Another 40-year record for inflation, but worse was feared. Hawkish Fed commentary, however, helped the greenback regather its strength. The US Dollar Index (DXY) was last seen trading at its strongest level in nearly two years at around 100.50. Fed Vice Chair Lael Brainard said on Tuesday that the reduction in the balance sheet could start as early as June. Additionally, Richmond Fed President Thomas Barkin argued that they should quickly get interest rates up to a level where borrowing costs will no longer be stimulating the economy. According to the CME Group FedWatch, markets are pricing in a 65% probability of back-to-back 50 basis points Fed rate hikes in May and June, compared to 57% a week ago. There won't be any high-tier macroeconomic data releases featured in the European economic docket on Wednesday and the dollar's market valuation should continue to drive EUR/USD's action. Later in the day, the Producer Price Index (PPI) from the US will be looked upon for fresh impetus. In the meantime, US stock index futures are up between 0.4% and 0.7%. Even if risk flows start to dominate the financial markets in the second half of the day, however, investors might refrain from making large euro bets ahead of the European Central Bank's (ECB) policy announcements on Thursday.
Long
by FOREXN1
1
GbpJpy expert analysis from 07-03-22 - Weekly forex forecast The idea shared is an analysis of GbpJpy for a mid term swing. Fundamentally, we are expecting news releases from the United Kingdom next week that would make impact on the British pounds. For now, the retail sales of Japan which was released last Monday is a good driver for the Yen. Sentimentally, as the UK is still faced with inflation and political tension, investors tend to move their money to safe haven currency assets and countries. Technically, Gbpjpy as seen on the chart is approaching from a weekly supply zone to a demand zone. Haven broken and closed below our trick moving average, we expect price to make a slight correction testing either the 0.50 or 0.61 fib level of the break out candle highlighted. In the screenshot. In the video of this analysis, we explained how to trade a breakout candle after price imbalance. Our sentimental bias for the gbpjpy pair is bearish as we plan to hold a short position till price reaches the demand zone. Let,s go take some risk, let's go make some money. Millionaire Logistics
Short
by MillionaireLogistics
1
GBP/JPY - ANALYSIS - @TradersLounge.USHello everyone!! Here's my analysis for GJ!! - Price is still moving in a bullish trend above the 50MA on the 4HR. - I am seeing price currently in a supply zone on the 1D. *Going into next week what I'll be looking for is to see if price will still hold the trend line on the 4H. I'll be looking for buys mainly since we're riding the trend line above the 50MA. - If price breaks below trend line and 50MA, I'll be on the lookout for sells. Let me know what you think! #HappyTrading Miajah Lead Trader @ Trader's Lounge
by miajahmarable
USDJPY UPDATEUSDJPY on HTF is in a strong uptrend and currently providing us a nice correction on the 1D testing the 0.50 fib, i am expecting a swing low to form around this area and the market to make the continuation to the upside and potentially form a new higher high, on lower TF we can see how price has been in a bearish trend so far this week. During the Asian session price has consolidated inside of this small range i have identified. Looking for a sellers induction move to push price below the lows and trap bears. All inside of this area is where we will be dropping down to lower TFs with students to look for potential long entries according to our rules of this particular strategy.
Long
by ITSCRYPTO1