GBPNZD Possible Further Drop, Wait for bearish price action
Also dropping is GBPNZD as we can see from the top of the structure, double top, reversal price action and indeed the bearish impulse move down.
Price is now at the bottom of the higher time frame structure, and is possible to continue downside, if a continuation correction can be formed.
Similar across, wait for a bigger correction to form by moving up on the lower time frames to form a bigger correction before another move down to previous lows.
Thank you
Impulse
GBPAUD Bigger Bearish Correction Can Form, Still look for sell
Hello traders:
Also possible to develop 2 sell potential setups here on GBPAUD.
We can see after the previous bearish impulse down, price begin to form into a continuation correction.
We see price is current already impulse out of this current bearish continuation correction, and forming lower time frame consolidation.
This is where we can either see price commit to the downside and continue lower down to the next swing lows,
or
possible to make another short term, corrective move up to the top of the current continuation correction, and evolve into a bigger structure, and still reverse down from the top.
Be on the look out for these 2 possible development.
Thank you
GBPJPY Back to the Top, Reversal Bearish Price Action
Hello traders:
GBPJPY has once again move to the top of the higher time frame structure, and with the lower time frame bearish price action, there could be opportunities for further sells.
Here we can see a larger, channel like structure, correcting the price.
There was a sharp bullish impulse up to the top of the structure, and initially was looking to have more continuation up.
Instead, a sharp bearish reversal impulse down from the smaller ascending channel. Great signs of bearish reversal price action.
To confirm the entry, price needs to form bearish continuation correction after impulse down, to validate the reversal price action from the top.
HTF:
thank you
GOLD Finally A Clear Bearish Price Action
Hello traders:
Last few weeks/month many have been asking about GOLD's possible direction and whether to buy and sell.
I have been telling everyone to remain patient and wait for the opportunity to arrive.
Here now we can see a clear picture of the possible bearish development on GOLD.
From the top, we can see a double tops after price failed to break above the all the highs.
Instead, a sharp bearish reversal impulse phase down, good signs that the bullish momentum is exhausted.
After, price begin to consolidate and correct, even forming a bigger H and S pattern as well.
Now it looks like right shoulder, bearish flag continuation is about to finish.
Be on the look out for further sell setups, if price can form lower time frames continuations to validate more downside move.
Thank you
SPX Elliott Wave AnalysisSince SPX is rejecting from the 1.618 extension almost exactly, it's looking to me like an Elliott Wave impulse starting a wave 4 correction. That would bring price down about another 3% to the range POC/.382 - .5 retracement (a zone around the top of wave 1). Speedfan and fib time pull for approximate time.
Elliott Wave Analysis: German Bund Is Trading At SupportHello traders and investors!
Today we will talk about German Bund, where we see very interesting support level after recent bond market crash.
As you can see, bonds are sharply down and if we take a look at German Bund monthly chart, from Elliott Wave perspective, we can still see a corrective decline within higher degree wave (IV).
From technical perspective, ideal support would be here at the former wave IV, 38,2% Fibo. retracement, base channel upper line and the 155 - 150 area.
So, be aware of limited decline and watch out for bounce and new rally within higher degree wave (V) soon.
Trade well!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
ETHER on the rise, few buy scenarios
Hello traders:
Few weeks ago I was more looking for a short term move down on ETH before the bigger, longer term up move.
Price didn't end up confirming any bearish price action to enter short, instead,
we are seeing some strong bullish impulse phrase from the lower time frames.
We can see the latest development has shown the previous high is broke above now.
Now we can either wait for lower time frame continuation correction to look for buy entries.
or
if bullish continuation correction does not form, instead a bearish drop down, then wait for price to hit the previous lows,
and if price develop bullish reversal price action, then still look for the buys.
Thank you
Ethereum Classic Back On Bullish Watch
Hi everyone:
Also on my watch for further bullish up move is ETC.
We can see after the initial bearish down move, price has develop into a larger descending structure.
As we know descending type of consolidation give good probability for bullish reversal price action.
Latest development has given us a strong, lower time frame impulse phase up, breaking above the structure.
Now, to confirm further upside, watch for bullish continuation correction to develop and finish, to confirm the next up move to the highs.
Thank you
CARDANO Is It Time To Rise ? Watch for continuation price action
Hello traders:
ADA has been in a decline since the initial strong bullish impulse up after reaching the $3 price.
It has been in a bearish price action and continue to correct within a downward correction since.
We can see price temporary broke below the $1 mark, but quickly reverse up and formed bullish impulse phase on the lower time frame.
This is a good sign that price has formed a low, double bottoms, and reversal price action has formed.
Its within our interest to wait and see if price can develop a bullish continuation correction as it has broken above the descending channel structure.
Look for previous highs as potential targets if price does give is the confirmation ion to enter.
thank you
Weekly Trade Recap: EURNZD +1.7%, GBPAUD +2.3% 03-25-22Hello traders:
Welcome back to this week’s trading recap video.
Let's take a look at the trades closed this week between Mar 13 - 18th.
EURNZD: Running for +1.7%, 1.7:1 RR
Full analysis/forecast:
GBPAUD: Running for +2.3%, 2.3:1 RR
Full analysis/forecast:
EURAUD: Out for +3.31%, 3.31:1 RR
Full analysis/forecast:
GBPNZD: Out for +1% profit, 1:1 RR
Full analysis/forecast:
Any questions, comments and feedback welcome to let me know.
If you like more of these contents, like, subscribe/follow and comment for me to keep doing them. :)
EURAUD Another Down Move Likely, Look For Bearish Price Action
Hi traders:
Also looking at EURAUD for more downside opportunities.
We can see from previous forecast and analysis, price completed the continuation correction, and strong bearish impulse down, broke the previous lows.
After such strong move, naturally price needs to correct in order to continue.
We did see a lower time frame ascending channel, smaller H and S. This may be enough to push price lower, but also take into consideration a bigger consolidation may formed as well.
So do be on the look out for these 2 possible scenarios to give price enough momentum to continue lower to the next lows
Thank you
EURNZD 2 Sell Development Scenarios
Hello traders:
Here on updating more on EURNZD's bearish price action.
After the strong bearish impulse phase down, we can expect consolidation to form before the next possible continuations.
Price has currently formed an ascending channel correction, and indeed a bearish development on the lower time frames has push down the price now.
As we get close to the previous lows, 2 possibilities could develop:
Either we can see price breaks the lows and continue down to the next higher time frame swing lows
or
makes a corrective up move to the previous highs simply evolving the structure to a bigger correction, then still look for bearish price action for sell.
thank you
Elliott Wave Analysis: USDJPY Yearly UpdateHello traders!
Today we want to update our USDJPY chart from January 2021, when we mentioned and highlighted the bottom and bullish reversal with ending diagonal (wedge) pattern and weekly bullish engulfing candlestick formation.
As you can see on the left, since then USDJPY is in massive and impulsive weekly rally within a five-wave cycle, where we are tracking final wave V. However, looking at the smaller time frame, in the 4-hour chart on the right, we can still see it trading in an extended wave V, which should be completed by a five-wave cycle of the lower degree.
That being said, seems like USDJPY has room for more upside, but currently it can be finishing wave (III) of V around EW channel resistance line, so be aware of a pullback in wave (IV) that can occur anytime soon.
Once USDJPY starts sharply falling back below EW channel support line, this is when we can start tracking a correction in wave (IV), where ideal support would be around December 2016 highs and 118 area.
Trade well!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
USDCHF Look For Bearish Move
hello traders:
USDCHF has a nice bearish development in the last week.
WE can see price has moved up correctively to the top of the higher time frame channel structure, formed an ascending channel.
Within, we can see lower time frame head and shoulder reversal, and price had a strong bearish impulse phase down.
Latest development shows a possible correction after the down move, this could help the price to continue lower down to the next lows.
Look for more bearish continuation correction on the lower time frames for possible sell.
thank you
AMAZON Lookin to Advance Higher - Elliott WaveHi Elliotticians, Amazon.com is making a bullish impulse on the weekly time frame, and can currently be ending a corrective wave IV of a higher degree near the Fib. ratio of 0.382 and 0.50.
A completed three-wave correction in IV, followed by an impulsive rally above the 3762 lvl. would be a confirmation that wave V us underway.
Alternate scenario indicates a completed bullish impulse at current highs, which means we may expect a minimum three-wave reversal.
Trade well.
AUDJPY Why Wouldn't it drop yet ? Take a look here
Hello traders:
Been receiving many inquiries about AUDJPY, on the potential bearish bias of the price action.
I have sharing many forecast and analysis on AUDJPY, but it seemed price has yet to commit to the downside.
This is something that I haven't experience before where there's a consolidation period of the price, and the market is just getting ready for the bigger move once the consolidation is complete.
We can see here first on the higher time frame,
Price is in a larger, consolidation correction after the initial up move. We can see a clear structure within few swing highs and lows, bouncing up and down the price.
The latest development on the lower time frame can give us a bit more clues on the potential direction of the price.
With a lower time frame bearish impulse down, and now is forming a parallel channel correction,
and within more and more bearish price action development such as rising wedge, ascending channel to give us more positive confluence to look for sell setups.
Watch for bearish development now to confirm another downside move,
or
alternatively, price could move up one more to a double tops, and top of HTF structure before the move down.
Thank you
jojo
Watch NZDUSD to commit to downside
hello everyone:
Similar like AUDUSD, I have been sharing NZDUSD forecast for possible sell. They continue to move up correctively, but it doesn't void the potential bearish development from the price.
Now we can see the ascending structure continue to evolve and develop, more bearish bias are formed within.
The latest development show smaller ascending channel, and a sharp bearish reversal impulse down.
Be on the look out for bearish continuation on the lower time frame to develop, and confirm our sell bias to the lows before entry.
Thank you
Can AUDUSD Still Drop ?
hi traders:
I have been sharing lots of AUD/NZD USD forecast in the last few weeks. Most of them have not develop or commit to the downside.
This time around, we are finally seeing some bearish development of the price.
We can see price is at the top of the overall price action again, and smaller, lower time frame ascending channel, correcting the price.
We are now see a sharp bearish impulse move, pushing down the price.
Ideally is to wait for the impulse out of correction, follow by lower time frame continuation to confirm further down move.
Thank you
NZDUSD Catch the next drop if you haven't
hi traders:
Similar like AUDUSD I just shared, NZDUSD is following the same bearish development as well.
From my previous outlook and forecast,
Price hit the double tops, reversal impulse down, and formed continuation correction to drop more.
Now that price has a short term pullback, smaller, ascending channel, we could expect more downside from the price.
Ideally price should break below the HTF continuation structure, and formed lower time frame bearish development to further confirm the downside to the next previous lows.
Higher time frame wise, we do see strong bearish bias, and is looking clean for another downside move.
Thank you
jojo
AUDUSD Did you catch the sell ? More downside possible
Hi traders:
I was not active for about since last week, took a much needed vacation and mini-getaway.
Now I am back and seeing some good development of the price.
Here on AUDUSD, from my previous outlook and forecast from the top,
price indeed pushed down aggressively, and now is at the bottom of the lower time frame ascending structure.
This is where we can likely to see some consolidation, if price is going to push down to the next low.
Ideally we want to see a bearish continuation correction to form and complete, to give us a confirmation sell down to the next low.
But, don't be surprise if price bounce of from this LTF structure and move up again, in that case, no entry and no trade.
The downside is more ideal and better R:R to continue as the higher time frame also indicates.
thank you
Jojo