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Impulse

Weekly Trading Recap: ADA, AUDCAD, GBPCHF, EURUSD May 08 2021 Hello everyone: Welcome back to this week’s trading recap video. Let's take a look at the trades entered/closed this week. I will explain my approach on the entry, SL, TP and management. CARDANO (ADAUSD) - Currently running at BE Full analysis/forecast: AUDCAD - Closed 2 trades for about 3.2% profit Full analysis/forecast: GBPCHF - Close down for about 1.87% profit Full analysis/forecast: NZDJPY - Closed 2 trades for about 0.74% profit Full analysis/forecast: EURUSD - Exit for about 0.85% profit Full analysis/forecast: Any questions, comments or feedback please let me know. :) Thank you
BINANCE:ADAUSD
by jojofang0901
32
EURCHF Clean Bullish Price Action To Buy Hello traders: EURCHF is at the bottom of its current continuation flag correction, and there is good probability we will get this upside move. We can see since mid February this year, price had a strong bullish impulse phase, pushing to price way up. Naturally after a strong impulse, price will need to form correction, and we get this larger flag correction in the making. Latest price had a move down, but failed to continue after breaking previous lows. A descending channel formed on the LTF also. I will wait for one last confirmation from the price, a strong LTF impulse up breaking above the descending channel, and continuation correction to get in the buy. Thank you
Long
by jojofang0901
58
Elliott Wave Analysis: German DAX Remains In The UptrendHello traders and investors! Today we will talk about very nice and clean Elliott Wave pattern on German DAX, where we can see a clear impulse in progress. We are tracking an impulsive five-wave cycle from 13300 lows nicely connected within channel range. And, after recent (A)-(B)-(C) corrective decline in wave 4, seems like DAX can be on the way even higher for wave 5 towards 15700 - 16000 area. Today we have seen a perfect rebound from the channel support line, previous wave 1) swing high and 38,2% Fibonacci retracement, which clearly indicates for a bullish continuation back to highs. Always Keep It Simple! Trade smart! 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.
EUREX:FDAX1!Long
by ew-forecast
Bitcoin - Overview - Break OR Bounce! Bitcoin has been in a steady uptrend and providing us with clear impulse and correction. Naturally after an ascending correction, we expect a reversal (short term or long term depending on the market structure). As we have had an ascending correction, we are waiting for price to create a base where there's clear buying pressure. The ideal place to look for buys would be the 42K and the 50K as they both hold alot of weight due to historic price action. Keep a close eye on 56K to see how price reacts. Goodluck and trade safe!
BITSTAMP:BTCUSD
by WicktatorFX
3
EURUSD Watch Bearish Price Action For Sell Hello traders: Finally we are seeing the bearish price action that I am waiting for patiently in EURUSD. We can see price corrects itself up within the ascending channel structure, and broke the previous highs to form a double tops. Price broke the highs, and had a LTF reversal impulse down, broke out of the ascending channel correction. Then a quick pullback correction to complete this right shoulder of the H and S pattern. That would be the confirmation bearish price action to look for the sell down to the previous lows for a healthy R;R. Thank you
Short
by jojofang0901
31
U.S. Indices Price Action Market Outlook (S&P500, NASDAQ, DOW)Hello everyone: Many have asked me about my outlook and analysis on the US indices currently, so let's take a quick look at them. My overall bias on the indices are bearish. There could be some lower time frames bearish price action to give us confirmation of the bigger sell setups. All of them are pretty much sitting at the top of the overall higher time frame price action, so certainly has good probability that we can get some bearish reversals. I will go over them from a mid-long term approach. Once again patience is key, if the bearish price action does not develop or continue, then no trade and entry, move on to other opportunities and different scenarios. SPX NAS DOW Any questions, comments or feedback welcome to let me know. Thank you Jojo
OANDA:SPX500USD
by jojofang0901
49
Elliott Wave Analysis: CADJPY Pointing To 90 LevelHello traders! Today we will talk about CADJPY currency pair which is moving nicely as expected within nice and clean Elliott Wave pattern. Well, after we noticed an A-B-C correction and strong bounce we have been warning about new rally that can send the price back to highs. Here we are, CADJPY is trading in a new impulsive five-wave cycle which looks to be unfinished and if consider minimum target of 161,8% Fibonacci extension at 90.0 level, then we will probably see more upside for wave (5). However, before a continuation higher, we may currently see a corrective slow down within (4), where ideal support would be at the previous swing high and between 23,6% - 38,2% Fibonacci retracement, actually at that trendline connected from the lows and around 88.30 - 88.00 levels. So, once a correction in wave (4) fully unfolds, we can easily expect more gains towards 90.0 level within wave (5). If you like what we do, then please like and share our idea! Trade well and all the best! 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.
Long
by ew-forecast
1
📚 Understanding Price Action - Impulsive & Corrective Moves 📚For every currency pair, all the price action can be broken down into 2 different waves. Impulse waves and corrective waves. Both of these waves have the same patterns within them such as flags, ascending/descending corrections, channels etc. The tip to finding out what phase we're in is to zoom out to a bigger timeframe and look at price action as a whole and ask yourself "is this impulsive or is this corrective". Once you understand that, you can more often than not understand where price will be going next. For CADJPY, we are in a flat ABC triangle and we are approaching the upper limits of the triangle. We also are in an ABC correction. On the smaller timeframe, if things line up, we can get in at the very top of the impulse and ride this back down! Try spotting corrections and impulses and watch how your chart game levels up!
Education
by WicktatorFX
7
AUDUSD Look for Continuation Sell Hello traders: Also on my watchlist is AUDUSD which has good bearish price action in the making. From the HTF rising wedge, price broke out follow by continuation correction. Then the latest price formed a deeper pullback, but a Head and Shoulder pattern was formed within the flag/channel correction. Good indication we can get another bearish run. Similar like AUDCAD, I would wait for a confirm breakout from the channel, and a LTF continuation correction to get in on the sell. thank you
Short
by jojofang0901
46
EURUSD Sell Setup Hi traders: EURUSD is now forming an expanding structure that can lead into the next bearish impulse phase. We see price has already broken out of the HTF correction, and has strong LTF impulse breakout. The latest price action shows an expanding type of correction, and within in a LTF ascending channel, correcting the price up. I would be patient here and wait for a strong LTF impulse breakout, follow by continuation c correction before entering a sell. Thank you
Short
by jojofang0901
21
Detail Breakdown on GOLD Mid-Long Term OutlookHello traders: Today I breakdown GOLD's current price action, and I discuss the potential possibility on the mid to long term outlook. There could be different possible scenarios from the price, so its a good practice to have a solid trading plan and management. Mid term wise I prefer to see price makes one more move to the downside, breaking previous lows and hit the bottom for the HTF flag/channel structure before reversing. Alternatively we can also expect price to consolidate here and form a LTF impulse to breakout of the LTF flag/channel as well. In both cases, long term outlook is certainly bullish if we get a completion of the LTF flag/channel that will have high probability to lead into next bullish impulse run. Any questions, comments or feedback welcome to let me know. Thank you Jojo
OANDA:XAUUSD
by jojofang0901
58
Ripple correction finish for the next up move Hi everyone: Ripple has completed its correctional phase, and is shaping up for another buy opportunity. We can see price formed a larger continuation correction after a strong impulse phrase to the upside. An Inverse Head and Shoulder pattern formed, and a confirmation breakout from the larger structure. I would pay close attention now for this right shoulder to form into a continuation correction and look for the previous highs as a potential target. Thank you
BITSTAMP:XRPUSDLong
by jojofang0901
50
📚 Impulsive & Corrective Breaks - How To Identify & Trade Them 📚What is an Impulse? An impulse is defined as a strong move whereby the market moves quite strongly or heavily in one direction, covering a great distance in a short period of time. Typically, when there's a trend reversal occurring, we require an impulse in the opposite direction of the trend, indicating to us that there's a possible trend reversal. The question we face now is "What does an impulse need to look like for there to be a trend reversal?". Throughout my years in trading, I've found that if a significant level is broken during the impulse, we can expect a follow through of that impulse after a brief correction or a retest. In the Impulse diagrams, you can see that I've marked out a recent significant level where price reacted. When there was an impulse, I kept an eye on the level to see if it breaks. If it did not break, I can assume that the impulse wasn't strong enough to create a trend reversal and it is merely a bigger more aggressive correction. However, if the level did break along with the trendline, we can assume that there is a trend reversal taking place and we should keep our focus on the key level and price action for corrections such as flags, pennants , channels etc. Please see chart updates for examples of Impulsive Breaks and how to trade them. What is a Correction? A correction is defined as a relatively short-term movement of the market in the direction opposite to the main trend. To identify whether a break of a trendline is an impulsive break of corrective break, we must also identify the key level by looking at a significant level where price reacts. If the impulse that breaks the trendline does NOT break the level, we can assume that the trend isn't ready to reverse yet and it is a corrective break. Often a corrective break ends up with an impulse breaking the significant level, at which time we can look for a correction to take our trade. See chart updates below for examples of corrective breaks and how to trade them. Please leave a like and comment what you think! As always, Goodluck and trade safe! Mr Wick.
Education
by WicktatorFX
140
📚 Impulsive & Corrective Breaks - How To Identify & Trade Them 📚What is an Impulse? An impulse is defined as a strong move whereby the market moves quite strongly or heavily in one direction, covering a great distance in a short period of time. Typically, when there's a trend reversal occurring, we require an impulse in the opposite direction of the trend, indicating to us that there's a possible trend reversal. The question we face now is "What does an impulse need to look like for there to be a trend reversal?". Throughout my years in trading, I've found that if a significant level is broken during the impulse, we can expect a follow through of that impulse after a brief correction or a retest. In the Impulse diagrams, you can see that I've marked out a recent significant level where price reacted. When there was an impulse, I kept an eye on the level to see if it breaks. If it did not break , I can assume that the impulse wasn't strong enough to create a trend reversal and it is merely a bigger more aggressive correction. However, if the level did break along with the trendline, we can assume that there is a trend reversal taking place and we should keep our focus on the key level and price action for corrections such as flags, pennants, channels etc. Please see chart updates for examples of Impulsive Breaks and how to trade them. What is a Correction? A correction is defined as a relatively short-term movement of the market in the direction opposite to the main trend. To identify whether a break of a trendline is an impulsive break of corrective break, we must also identify the key level by looking at a significant level where price reacts. If the impulse that breaks the trendline does NOT break the level, we can assume that the trend isn't ready to reverse yet and it is a corrective break. Often a corrective break ends up with an impulse breaking the significant level, at which time we can look for a correction to take our trade. See chart updates below for examples of corrective breaks and how to trade them. Please leave a like and comment what you think! As always, Goodluck and trade safe! Mr Wick.
Education
by WicktatorFX
56